LootSwap Finance
Below information has been uploaded by a team member of LootSwap. It has not yet been verified by other contributors.
History
- Basics
- Based in:
- Started in: 30 May 2021 (2100 CST)
- LootSwap launched on the Harmony network to be the first community driven DEX with an emphasis on Games and NFTs.
Token
- LootSwap is a multi-tier crypto project. At launch, LootSwap is a yield farming Decentralized Exchange (DEX). We are striving to blur the lines from DEXes and gaming with our extra emphasis on a gamification farming style. While initially there will be yield farming, this is not the end-state of the platform. We are using yield farming as a method to distribute LOOT tokens in a fair, decentralized way as we add a stake-to-earn NFTs and stake-to-play model.
TLDR;
- A fantasy-theme DEX with an emphasis on gamification
- Harmony’s 4th DeFi project
- Forked off of Viperswap which is a fork off of Uniswap/Sushiswap & other platforms
- Loot Token (LOOT) —A planned governance and utility token
- Yield Farming on Harmony with ONE pairings to LOOT, BTC, BNB, BUSD and ETH. 95% of rewards are lock-up to prevent dumping and a long-term farming environment.
- Farming rewards start on block 13700640. Farm responsibly!
- LootSwap only supports MetaMask.
- Join Telegram or Discord to stay for the most up-to-date information!
Resources
Tokenomics
Forking off of ViperSwap, we are following their initial tokenomics quite a bit. 500,000,000 max token cap with 95% of the rewards locked up. Tokens will slowly release approximately Christmas 2021 over 1 year. We’ve built in 4 treasuries to help development on LootSwap.
Pre-Mint LOOT tokens
The treasuries fall under the same lockup schedule as the Quest rewards and so in order to facilitate early development, we have pre-minted 10,000,000 LOOT tokens.
- 2,000,000 tokens used for the Initial Liquidity.
Treasuries
- 2,000,000 tokens for Development Treasury — 6% of the tokens minted will be used for development (grants, bounties, and technology advancements).
- 2,000,000 tokens for Marketing/Design Treasury — 6% of the tokens minted will be used for artwork, design and marketing
- 2,000,000 tokens for LootSwap DEX Treasury — 4% of the tokens minted will be used for community manager incentives, liquidity, buy back/burns and other generalized benefits for the DEX.
- 2,000,000 tokens for Guilds Treasury — 4% of the tokens will be used for the benefits of the guilds.
Treasuries Developer Treasury: 0x596676847F5DD4bFFACC83BAB7A8d26E9FbEa57b
Marketing Treasury: 0xB340914Fe4b5AD965A0376b70d66b979D2b8163A
LootSwap Treasury: 0x1bab583ac13Ec89a2D49618C64572bB6EaD8dF20
Guilds Treasury: 0xD3329bd5f113ED4965B8309D2721e7FF7A37A649
Initial Liquidity wallet: 0x348d391e6576048332B9aB44a7bD29b1565eEBE3
Up-to-Date Treasury Wallet Google Doc Trans Hash
Smart Contracts
LootSwap smart contracts forked mostly from ViperSwap
Smart contract code is available at: https://github.com/LootSwap/
Deployed Contract Addresses:
GovernanceToken (LOOT): 0xbDa99C8695986B45a0dD3979cC6f3974D9753D30
TreasuryWallets: 0xb96618aEBD36f8D83Fa03873FdA796264597604D
AutoLooter: 0x778bE2A426f452Bec4E6df35790315C153cBae70
Quests (Quests / aLOOT): 0xA15C7828Ab22D182383A84F828Cd71Ac09Bb55E8
UniswapV2Factory: 0x021AeF70c404aa9d70b71C615F17aB3a4038851A
UniswapV2Router02: 0x6d9eF21E7b93CF0C45847d586E1b9eFCaaB76009
Emission Schedule
The base emission for LOOT is 1 LOOT/Block which is 43,200 LOOT tokens per day before any multipliers.
95% of LootSwap rewards are locked up until 25 DEC 2021 and will slowly release over 12 months. Due to the lockup schedule, we are implementing a high bonus rate for early adopters and to help distribute our tokens.
The initial multipliers are as follows:
Week 1: x256 multiplier = 7680 LOOT tokens/minute (11,059,200 tokens/daily with 10,506,240 rewards being locked up).
Week 2: x128 multiplier = 3840 LOOT tokens/minute (5,529,600 tokens/daily with 5,253,120 tokens locked up)
Week 3: x64 multiplier = 1920 LOOT tokens/minute (2,764,800 tokens/daily with 2,626,560 tokens locked up)
Week 4: x32 multiplier = 960 LOOT tokens/minute (1,382,400 tokens/daily with 1,313,280 tokens locked up).
The multiplier schedule is on a week-by-week basis and can be updated and to fit the needs of the project.
Withdrawal Fees:
• 25% fee if the user withdraws in the same block. (blocks ~ 2 seconds)
• 8% fee if the user withdraws under 1 hour.
• 4% fee if the user withdraws under 1 day.
• 2% fee if the user withdraws under 3 days.
• 1% fee if the user withdraws under 5 days
• 0.5% if the user withdraws under 2 weeks.
• 0.25% if the user withdraws under 4 weeks.
• 0.01% if the user withdraws after 4 weeks.
Horizon (Projected Roadmap)
Completed Milestones
- Launching LOOT tokens/Yield Farming DEX
- LOOT Analytics
- LootSwap Interface Version 2 Closed Beta (see the end for previews)
Upcoming Milestones (Estimate: Q3 2021)
- LOOT Version 2 Interface
- Initial Quest Offerings
- GUILDs launch
- NFT Marketplace
- Task Center (achievements)
Future Milestones (Estimated: Q4 2021/Q1 2022)
- First Dungeons (Adventurer style game, Tile Matching style game)
- LOOT LOTTO
- LOOT Social Media Integration
Distance Future Major Milestone
CCG/TCG (Collectible Card Game/Trading Card Game)
Community NFT Node
Community NFT Nodes will set their own rates for royalties and are required to stake LOOT tokens in order to become a Community NFT Node. The requirement to become a Community NFT Node is 100,000 LOOT tokens. This number is only subjected to change through LOOT Governance vote alone. Key features for the Community NFT Node:
- Nodes are responsible for verifying artists/artwork to ensure there is no copyright infringement
- Community NFT Nodes will set their own tax fee for the artwork that they manage
- Integrate Community NFT Node Verified on the marketplace
- Penalizing Community NFT Nodes for copyright violations
Governance
As we are continuing to evolve the project, we are implementing some unique ways to implement Governance for the platform. We’ll be utilizing Harmony’s Governance system for voting with LOOT tokens and also experimenting with the High Loot Council.
Harmony Governance Voting
For major changes in regards to LootSwap ecosystem, community will be able to voting using their Loot Tokens.
LootSwap Harmony Governance: https://gov.harmony.one/#/lootswap
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High Loot Council
For now, the High Loot Council (HLC) will be established as Appointed Delegated Authorities. The goal is to have it completely self-sustaining without the need of a higher authority. Once the Council is ready, it will receive the full functionalities of the multisig wallet and be in control of the platform. It is okay if the HLC gets heated sometimes in debates, this is anticipated as the HLC members are acting on behalf of the best interest of their respective subset communities, LootSwap, and potentially even the Harmony Protocol. This isn’t a complete list but more a baseline to work off of as the system evolves and is polished off over time. The following responsibilities are proposed (but not limited to):
- Leveling and De-Leveling QUESTs as mentioned in the previous post (click here to read)
- Ownership of the Governance Contract through Multisig
- Setting price on LOOT Bounties
- Accepting GUILD/Project Grants
- Establishing Fundraisers
- Leveling OPness
You can read more about High Loot Council by clicking here. The big takeaway is dividing up the decision making to act in the betterment of LootSwap. The HLC is subjected to change through LOOT governance vote.
OPness
Guilds
What is a guild ...
Community Driven Guilds
Leader Guilds
Teammate Tyler
Clayford
RealCryptoBull - Twitter Grant
Team and Partners
Lead Team
Forever Hobbist, Visionary
MasterLooter, Developer Lead
Devs:
MasterBlacksmith, Front End Dev
MasterWizard, Back End Dev
MasterAlchemist, Front End Dev
MasterArtificer, Back End Dev
Operations:
I am Carpe Diem
Bleght
Partners
- We’re very excited to help support the WISE community by listing WISB!
- It’s important to note that they have their own tokenomics structure and are completely independent from LootSwap.
Investors
Other Review
Smart Contracts
LootSwap smart contracts forked mostly from ViperSwap
* UniswapV2, UniswapV2Factory.sol, UniswapV2Router02.sol, UniswapV2SubGraph and other helper libraries
* ViperSwap: Pit, Pit Breeder
* Venom Finance: MasterBreeder.sol
* Pancakeswap
UniswapV2
* https://github.com/LootSwap/lootswap-core/tree/main/contracts
* https://github.com/LootSwap/lootswap-periphery/tree/main/contracts
* https://github.com/LootSwap/lootswap-lib/tree/main/contracts
Viperswap
* https://github.com/LootSwap/lootswap-contracts/tree/main/contracts
Masterbreeder
* https://github.com/LootSwap/lootswap-contracts/tree/main/contracts
Deployed contracts
Smart contract code is available at: https://github.com/LootSwap/
How it works
Staking
Liquidity Mining
Scaling
Interoperabity
Other Details
Tech
- Whitepaper can be found here
- Programming language used
Upgrades
Roadmap
Audits
Usage
Pros and Cons
Pros
Cons
Coin Distribution
