Roaring Lion
Roaring Lion is the first toxic deer fork on Binance Smart Chain, with fluid economy algorithmic stablecoins such as Serenity Capital. Inspired by both the protocol comes Roaring Lion, the best of both. Roaring Lions, $LION token value is algorithmically pegged to the price of Dai via seigniorage at a rate of 1 LION:1 DAI.
How does it work?
When $LION price is over the peg, new $LION is minted by the protocol to inflate the supply, in an attempt to drive the price down towards the peg. These new $LION are placed into circulation through the Lionsden (boardroom) and distributed to $LSHARE/DAI LP holders staking it there. This increases the demand for $LSHARE, thus increasing the price and value of $LSHARE. With the all new 70/30 LP ratio for creates an extra 20% demand for $LSHARE.
When $LION price drops below the peg, the protocol will allow minting $LBONDS with $LIONS (up to a maximum debt limit). This removes $LION from the total supply, applying upward pressure on the price towards the peg. $LBONDS can then be redeemed for LION at a premium when the price is above peg i.e. 1.01 TWAP.
FARMS
Farms are the only manner which investor can acquire $LSHARE.
Roaring Lions native farms are held on Aequinox Exchange (our official DEX partner).
Aequinox is a Balancer Dex which lets Roaring Lion offer new Liquidity Pool Ratio for its farms. Which makes Roaring Lion the first Seigniorage protocol to offer new LP ratio to save its investors from Impermanent Loss.
Farms will continue rewarding $LION despite the TWAP unlike boardroom/lionsden.
There are two farms investor can participate in to earn $LSHARE -
- LION-DAI LP (70/30) to earn $LSHARE
- LSHARE-DAI-LION LP (40/30/30) to earn $LSHARE
Token Distribution
Initial LION distribution
- Initial supply: 500,000 LION
- 300,000 LION will be initially distributed by presale at the price of $1 DAI
- 100,000 LION used to form initial LION-DAI LP.
- 100,000 LION send to Dao fund. The main function of the DAO fund is to keep the price stable from the beginning.
- Lauchpad (Presale) Start: Friday September 2nd, 6PM UTC
- Lauchpad (Presale) End: Sunday September 4nd, 6PM UTC (or when sold out)