Next plans on ETH Pool and Binance Smart Chain TSD
It’s epoch 222. First, thank you all TSD supporters and investors. We’ve been in one of the best communities in DeFi so far. Updates are released everyday, community grows gradually.
Great! We told you about our “SprintMap 2021” yesterday (here). Today, we updated the website following the plans, and now we want to reveal the next plans related to ETH Pool and Binance Smart Chain Implementation of TSD.
1. ETH Pool
We will create a new Pool for TSD, ETH Pool. The reason for ETH pool is because we want a better balance for TSD. All Seigniorage Stablecoins start with only 1 pool, it contains a big risks related to liquidity.
The ETH-TSD Liquidity Pool will be set up on 15 Jan, 2021. To incentivize LP Providers to join, the team donates 1 million TSD as initial rewards to the Pool, distribute over 10 days, each day 100,000 TSD, from 15 Jan to 25 Jan. Rewards will be distributed through a Staking Smart Contract, taken from MasterChef Smart Contract of Sushiswap.
ETH-TSD Staking Smart Contract will not have lockup timer, it means LP Providers can stake their UNI-V2 tokens in and get out anytime they want.
Also on 15 Jan, we will submit a Proposal to change the Rewards ratio of TSD to a new scheme: 50% DAO, 25% USDC LP Pool, 25% ETH LP Pool. This implementation candidate is to bring rewards to ETH LP Pool same as USDC LP Pool. The community will vote for it and if it get approved, we can go through with it.
2. Binance Smart Chain Implementation
As we stated in our SprintMap, we want to bring TSD to other blockchains to become a truly Crosschain Seigniorage Stablecoin, first with Binance Smart Chain.
The Implementation on Binance Smart Chain will start with a Bootstrap for 150 Epochs, with almost the same parameters as on Ethereum. There will be a small change that we reduce the advance() reward to 10 TSD, because the gas fee on Binance Smart Chain is quite low compared to Ethereum.
Why 150 epochs? We see that Binance Smart Chain has lower liquidity compared to Ethereum, that is why we conservatively set the Bootstrap period to 150, to make sure we will go through the Bootstrap successfully.
One important notice for Binance Smart Chain Bootstrap is it starts will 3,000 TSD Pre-allocation. The Pre-allocation will be distributed to only coupons buyers. This will allow all TSD supporters to participate in the Binance Smart Chain Bootstrap, before Epoch 0 starts.
How Pre-allocation will be distributed? We will take snapshot at Epoch 340–345, to get the data for distribution, including [Address: percentage] of coupons holders. After we get the list of people who receive the Pre-allocation TSD tokens on Binance Smart Chain, we will do a Merkle Airdrop on BSC, to allow all people in the list claiming Pre-allocation TSD on Binance Smart Chain.
With the Pre-allocation TSD on Binance Smart Chain, people can bond it to Binance Smart Chain DAO, Binance Smart Chain LP before Epoch 0 start, and go from the beginning.
Can we transfer TSD from Ethereum to Binance Smart Chain?
The answer is YES. TSD team already has a plan for people to transfer TSD from Ethereum to Binance Smart Chain and vice versa. However, the feature will be locked until the Bootstrap on Binance Smart Chain finishes, to make sure the Bootstrap there goes on a fair mechanism.
Listings
TSD will be listed on Swft.pro on 11 Jan, an instant cross-chain crypto swaps & payments application. With the integration, TSD holders can swap from TSD to other assets freely and vice versa.
Conclusion
We hope that we can bring you all the best that a Seigniorage Stablecoin can offer. Our goal remains the same from the beginning: become the most used Seigniorage Stablecoin, and contribute successfully to the DeFi ecosystem.
