There's a new game-changing protocol with flywheel mechanisms that have already achieved amazing results:
🛠️ Fully minted out under 12 hours
🪂 Promised airdrops and fees
💎 Bluechip partnerships
It uses a 2 prong approach (NFTs, Tokens) to maintain this flywheel 🧵
1/ Amalgamating the best features from its predecessors, a top-class ve(3,3) DEX @ChronosFi_ is born on @arbitrum
1️⃣ Overview of Chronos
2️⃣ Innovative Features
3️⃣ Tokenomics
4️⃣ Catalysts
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1️⃣ Overview of Chronos
Let's understand what's a ve(3,3) DEX.
It's difficult to incentivise liquidity and accrue revenue for DEX token holders.
So a ve(3,3) aspect to it was introduced by @AndreCronjeTech's and Chronos aligns this across various market participants.
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• LP providers; incentivized with the highest $CHR emission
• veCHR voters; incentivized to vote to direct incentives to high-volume/fee pools
• Traders; enjoy low slippage and rates
• Protocols; bribe voters to attract more incentives/liquidity
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2️⃣ Innovative Features
Chronos combined the best features from other ve(3,3) DEXes,
@ThenaFi_ on BSC
@Equalizer0x on Fantom
@VelodromeFi on Optimism
So what are those features being combined and what innovative ones were added?
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🔹chrNFT
Inspired by @ThenaFi_'s 3000 founders.
Chronos' limited 5555 NFT collection is fully minted
• Private sale price: 0.30e
• WL mint price: 0.325e
• Public mint price: 0.35e
The Lost Keys of Chronos (chrNFT), offers holders access to real-yield revenue and more!
6/ Pretty genius ideas here.
So to reduce selling pressure, Chronos gives original-minter-only benefits. And increase desire for chrNFT with fees distributed and promised airdrops!
7/ Holders of chrNFT enjoy:
• Staked NFTs earns up to 20% of all swap fees on Chronos
• Original minter earns 2% in royalties from secondary sales forever
• 1% of all secondary sales goes to the chrNFT staking pool
• Guaranteed $CHR airdrop
• Exclusive benefits in Discord
8/
🔹Maturity-Adjusted LPs (maNFTs)
Chronos integrated with a new feature here called the Reliquary, in collaboration with @ByteMasons
It's through the use of maNFT that rewards liquidity providers who hold their tokens for longer periods of time.
9/ As users stake their LP tokens, they receive maNFT that keeps track of:
• the tokens you've provided
• how long you've been staked
• earns you boosted emissions for up to 6 epochs.
10/ Unlike veNFT, maNFT can be unstaked any time but you'll lose any boost earnings was accumulated.
And it can be traded on marketplaces like @opensea.
You can think of this like “liquidity bonds” that carry underlying yield and also appreciate over time.(time is money)
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🔹Chronos Flywheel
For other DEXes, in times of market volatility → DEX token price falls → APR falls → liquidity withdrawn
So with the above features Chronos creates a flywheel ecosystem and is self sustaining to addresses issues faced by current DEXes
12/ This flywheel drives the platform’s growth and enhances its liquidity. And in this case we see a positve feedback loop accusing value into $CHR.
How about the case where $CHR faces weak demand?
13/ The counter-cyclical effect would support this flywheel positively as well.
→$CHR weak demand
→$CHR price decrease
→veCHR APR increase (through maNFT)
→but maintains revenue (more attractive P/E ratio)
→$CHR becomes an attractive investment
→$CHR price increase
14/ This counter-cyclical effect is made possible through maNFTs.
It ensures that liquidity remains on the platform, allowing for the counter-cyclical effect (price down=APR up) and stabilize the $CHR price.
$CHR becomes price-resilient and LP farming is sustainable.
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3️⃣ Tokenomics
$CHR are incentives for LP providers and stake LP tokens on the platform.
$veCHR allows for gauge voting, governance, earn swap fees, bribe revenue.
16/ Pretty genius way to raise money with NFTs and while keeping the tokenomics clean by being a community funded project.
What's interesting here is the 28% airdrop (strategically aligned) to users who have supported the project.
✅
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4️⃣ Catalysts
✅ It has one of the best DEX interface on @arbitrum feature their dark mode
✅ Novel mechanism with Reliquary, going to be interesting how it plays out.
✅ Long list of blue chip partnerships that adds credibility to it
18/ Looking at how @ThenaFi_ played out, I am pretty bullish that @ChronosFi_ could play out right.
Just with the partnerships, they are definitely going in the right direction.
Tech wise, though we have not seen a model with Reliquary yet, this can be game changing.
Source: https://twitter.com/arndxt_xo/status/1643206813016551425