Reducing our liquid issuance & a sneak peek at StableXSwap v1
We heard the community Feedback that too many STAX were going into the hands of liquidity providers in stablecoin pools who are not…
We heard the community Feedback that too many STAX were going into the hands of liquidity providers in stablecoin pools who are not exposed to impermanent losses, and wanted to solve two issues at once by reducing our liquid issuance of tokens by 50%! This means that instead of the 20 STAX per block that reached liquid wallets from our launch, now only ~3.4 STAX go to stablecoin liquidity providers per block, split across 4 pools, so stablecoin liquidity providers will receive less than 1 STAX per block per pool.
The change will take effect within the next 24 hours — and we will notify users when the change is officially implemented.
We believe this is very important to both help reduce any possible sell pressure on the STAX token, which helps APY for all stakers and liquidity providers, but also gives us an opportunity to prepare for our upcoming stablecoin swap migration!
Similar to the Sushiswap migration from Uniswap, we will need to migrate stablecoin liquidity providers from PancakeSwap to StableXSwap. As a result, the halved issuance is actually directed to the community treasury, for the community to help decide what to put the funds toward in the long run.
Furthermore, this will help provide funds to incentivise LPs who stay through the migration — more details will come on this shortly. We’re super excited for the launch, so want to give you guys a sneak peak of our upcoming interface. You guys asked for dark mode, so here it is:
Are you guys ready to StableXSwap?