ElasticSwap
ElasticSwap - an all new AMM focused on elastic supply tokens
Focus Elastic Supply Tokens
Lack of an AMM has been one of the missing pieces to the puzzle in the ability to successfully launch and provide liquidity for an elastic supply token. Perhaps the biggest recent example of the lack of infrastructure for elastic tokens was Olympus DAO's decision to wrap sOHM with gOHM, thereby eliminating the elastic token. Equally, ElasticDAO (a project our founders launched in 2021) faced significant headwinds due to this missing building block. The first elastic supply token, Ampleforth, has been trying different solutions with mixed success since they launched and we think ElasticSwap is the first AMM of its kind, that will allow for a more vibrant development ecosystem around elastic tokens. We are excited and honored to have launched with the full support of Ampleforth and their team.
Token TIC
$TIC is the native governance token for ElasticSwap. It has no hard cap to its supply, ownership rights to the underlying DAO vault, or guaranteed value of any kind. There will be two ways to acquire $TIC:
- Being a contributing member of the core team
- Yield Farming
ELP Staking Pools
The ElasticSwap LP (ELP) Staking Pools work like a hybrid between a -ve and -x staking contract, with the added benefit of also growing protocol-owned liquidity. They are designed to allow stakers to accrue $TIC, the native token of the ElasticSwap protocol, every second, while receiving rewards in the form of an $ELP position as the platform accrues fees.
Ampleforth Partnership
- ElasticSwap started with an $AMPL pool at the launch of the platform. Given that Ampleforth founded this space, we can think of no better partnership from day 1.
- As of now, there are 3 Ampleforth pools being supported by ElasticSwap including $AMPL-USDC on Mainnet, $AMPL-USDC.e on Avalanche, and $AMPL-TIC on Avalanche.
ShapeShift Partnership
With the launch of ElasticSwap on Mainnet, ElasticSwap was thrilled to announce a strategic partnerhsip with the ShapeShift DAO via their sub-DAO, vFOX. vFOX is taking a strategic position in ElasticSwap and for that ElasticSwap is getting USDC earmarked for hiring Developer help, and treasury diversification in the form of FOX Tokens. Furthermore, ElasticSwap will be the AMM of choice for a newly launched $FOX-FOXy pair, providing swap capabilities for the new FOXy Token (a yield-bearing elastic supply token). ShapeShift has seeded that pool with $1M in liquidity and is live for trading right now.