Introducing MochiSwap, MOCHI governance token and BSC yield farming pools.
In this post we are introducing MOCHI, a staking and governance token released on Binance Smart Chain. One of several uses of MOCHI is to incentivize liquidity provision, and it can be obtained by yield farming LPTs in our liquidity pools. In the coming months MOCHI will also serve as a staking token so holders can reap exchange rewards from our forthcoming liquidity pools.
The three pairs are BNB-MOCHI, BUSD-MOCHI, and DOGE-MOCHI.
Pools and additional info can be found here: https://farms.mochiswap.io
About the MochiSwap project.
The MochiSwap team was forged in the flames of DeFi Summer… a time when the streets were littered with the bodies of once-promising foodcoins that mostly ended up being a revolving door of hyperinflation and rug pulls.
We sat back and watched hundreds if not thousands of projects come and go in a span of a few months.
It quickly became clear that for a project to achieve any longevity, it would need to be tied to one or more value generation strategies, and avoid doing things that hinder adoption like locking users into an ecosystem or charging huge transfer fees in an effort to deflate or slow the growth of an asset’s circulating supply. We don’t think it’s necessary to irreversibly lock base network/gas tokens into contracts in an effort to retain a claim on some intrinsic or fundamental value.
With this goal of generating real value in mind, in addition to launching yield farming on BSC we have recently soft launched a DEX on Harmony Mainnet, and we intend to follow this up by releasing a DEX and a series of liquidity pools on Binance Smart Chain that will direct fees to liquidity providers and stakers of the MOCHI token.
We think releasing on chains like BSC, Harmony, Fantom, NEAR, AVAX and other emerging chains will help to enable fast, affordable and diverse DeFi options for the 95% of users that cannot claim whale status, and will help build a vibrant multi-chain community and ecosystem around the MochiSwap. With Ethereum slowing down we are seeing increased decentralization in the form of many smaller chains gaining traction. It’s the Wild West again and the MochiSwap is excited to be in the middle of it!
The MOCHI token
- The total supply of MOCHI will never exceed 100 million.
- The farming contact has been given ownership of the token, irreversibly, and no human can mint more.
- The contract based emission is 1.5 MOCHI per block w/3 second blocktime with a 25x bonus for the first 403200 blocks which is about 2 weeks.
- At the end of this period 15,120,000 MOCHI will have been farmed which is roughly 15% of supply. At this point initial emission will drop to the standard 1.5 MOCHI per block.
Links:
MOCHI BSC token: https://bscscan.com/address/0x055dab90880613a556a5ae2903b2682f8a5b8d27
MOCHI token contract: Chef contract: https://bscscan.com/address/0xA9C9D9Aed47320835c84090c62dC324FcF24f683#code
