SpaceDumpling — DumplingSwap V2 is coming!
Our team has been quiet with the updates for a couple of weeks but there was a reason behind it! We have been working hard on a big update that will drastically improve our tokenomics and bring some new exciting features. One may ask — why are you releasing a new version instead of updating the current one? I will explain everything in this post.
Launch
- DumplingSwap V2 will be launched on Friday 14th May
- Fair launch, no presale, IDO or seed round
- Liquidity will be permamently locked by sending LP Tokens to a dead address
Improved tokenomics
It is very common to create stable coin farms with high apy as it allows to perform buyback using the deposit fees. Our team have tried that approach and we realised it is not succesful. Instead, we will add multiple burning mechanisms along with automatic liquidity tipping. In our new stable economic model native pools will have priority over stable coin pools. This will encourage users to buy SDUMP thus increasing the token price. That does not mean that you cannot farm using stable coin pools — you still can but the apy will be lower. Some farms will have higher multiplier than others but this will usually mean that their deposit fee will be higher. We will operate by rule ‘higher multiplier, higher deposit fee’.
New Features:
Automatic Liquidity Tipping
There is a 5% transfer tax on every transaction involving SpaceDumpling token. 4% will be added to the SDUMP-BNB liquidity pool automatically. That way liquidity will be constantly growing thus making the price more stable with each transaction. Remaining 1% will be automatically burned, you can read more about it here.
Liquidity added through this mechanism will not be accessible even for the admin, meaning that there is no risk that the team will redeem it.
Automatic Token Burn
Every transaction will be charged 5% tax, 1% of that will be automatically burned, thus reducing the total circulating supply. Remaining 4% will be added to the liquidity, you can read more about it here.
Harvest Interval
Harvest lockup is a feature that we have inherited from PantherSwap. Basically, it means that farming rewards cannot be immediately harvested, instead user can only harvest rewards every harvest interval. See information below for the example. This mechanisms were designed to prevent farming arbitrage bots from constantly harvesting and dumping.
Anti Whale System
The term ‘whale’ refers to an investor with deep pockets who can move the market by buying or selling in large volumes. For a new project this can be devastating as in some degree they can control the price.
Every transfer greater than 1% (initially) of the total supply will be subject to 20% tax. Except for the 20% tax, the 5% regular tax still applies.
Referral Program
Our team has implemented a referral program to incentivize users to invite friends to join the farming. For each invited user you can earn 1% of ther earnings forever.
Games
DumplingSwap V2 will have all the same games as the first version. After the launch our team will develop more games starting from a dice game.
Why new smart contracts?
Due to the nature of the blockchain a smart contract’s code cannot be edited once it has been deployed. This means that if we want to add more features we need to deploy a new smart contracts. We value our community and we do not want to deploy them as separate project, that would be not fair to the current dumpling holders. Our team values honesty and we have proved many times that we live up to what we say, this time will be no different.
