.png)
<aside> 💡 DRACHMA tokens are a full fair launch token to power the Drachma DeFi ecosystem.
</aside>
Drachma is a full fair launch token with no pre-mine, no private investors or team allocation.
100% of the token allocation will be used to incentivise and grow Drachma adoption and liquidity for both the protocol itself and the AMM.
There are 100,000,000 total DRACHMA tokens with fixed supply. The DRACHMA token address on Metis is: 0xDb3434513433ee887a299ebB3a4a76d6AC35cFa7
45% of the total token supply will be used to incentivise LP bonds via protocol owned liquidity. This is a more sustainable way of bootstrapping liquidity compared to traditional farming, though we will also have a smaller farm in conjunction to this.
LP bonds allow users to supply to DRACHMA LP (and other LP pairs), and sell the LP back to the protocol for discounted Drachma Bonds. Drachma’s bonds program will be hosted by OCP bonds, a whitelabel service provider for protocol owned liquidity.
This has multiple benefits for both users and the protocol: Users get an opportunity to get DRACHMA at a lower price than market and removes their impermanent loss by selling their LP.
The protocol benefits by growing its long term liquidity holding yield generating assets in treasury.
45% of the total token supply will be used for liquidity mining rewards on the AMM to incentivise greater liquidity for users, making for a more capital efficient DEX.
LP providers will stake their LPs at farm.drachmadefi.io to earn DRACHMA tokens.
The reward rate is expected to change throughout the liquidity mining period however it will always been displayed on the farm UI.
To incentivise early adopters liquidity providers to the AMM, beta liquidity mining rewards will accumulate from 09/02/22 but not be claimable (withdrawn) until the launch of Drachma takes place. This will be the ‘beta liquidity mining’ period. Users can stake and view their claimable rewards at farm.drachmadefi.io