Spoon Exchange : Launch Details🚀

Lets Begin our Spoon Revolution on Core Chain.

Spoon Exchange is an upcoming Automatic Market Maker (AMM) that aims to provide deep liquidity, low swap fees, and low slippage to the protocol’s users. It is designed to support the growth and development of the Core ecosystem by rewarding users who provide liquidity and participate in its governance. The rewards are in the form of $POON, which is Spoon Exchange’s governance token. The emissions will be shared between the liquidity providers and the vePOON holders.

Liquidity providers receive $POON emissions, and holders of vote-escrowed POON(vePOON) vote on which liquidity pools should receive $POON emissions. In return, voters receive trading fees and bribes collected by the pairs they voted for. This structure is intended to direct incentives to the most valuable pairs for the ecosystem

Launch Details

The official launch of Spoon Exchange is on 20th April. It will be in two phases. First, we will add the liquidity to our AMM on 19th April within a 24-hour window.

After we add the liquidity, people will be able to freely trade $POON and stake their LPs in the protocol. 20% of the initial $POON minted will be added to the initial liquidity. The liquidity will be funded by the team via raised amount against 40% supply in presale.

1st phase : Liquidity Added, First Votes (19th April 2023)

• Spoon DEX + Liquidity : within 24h from Wednesday 19th 00:00 UTC to Thursday 20th 00:00 UTC.
• Liquidity pair: $POON/wCORE
• Initial liquidity: $500,000
• Listing price: $0.125

Disclaimer: Token listings are highly volatile events. Always invest responsibly !

After we have added the liquidity for the $POON/wCORE pair, every user will be able to add liquidity to every pool and start locking their $POON for vePOON NFTs.

vePOON holders will be able to vote for their favorite gauges. It’s an important role given to the community. vePOON holders actually receive 100% of the swap fees and 100% of the bribes from the pools they voted for.

2nd phase : Protocol Start (20th April 2023 00:00 UTC)

At the start of this phase, the pools will start to emit $POON. Spoon Exchange’s governance token, for every gauge. At this point, the protocol is now totally autonomous and in the hands of the community.

The team will only have the power to whitelist partner projects and protect the protocol from malicious actors who could try to whitelist their own tokens if they hold a big enough part of the supply (0.5% of the circulating supply). We will also have the possibility to change the swap fees (hard capped at 0.2% per swap). Every pool of the protocol is non-custodial, In short, you are always in full control of your funds.

The Emissions

The amount of $POON locked up by vePOON holders has an impact on $POON emissions. The more people lock themselves into the protocol, the more the emissions will be reduced, making $POON more and more deflationary. It’s a way to protect the people who invest themselves in the protocol as vePOON holders, making the protocol healthier than ever.

At launch, the emissions will be highly focused on rewarding our $POON investors.

At epoch 1 (farming start), the emissions voted by the team will be balanced this way:

• 78% SPOON/wCORE
• 13% wCORE/USDC
• 5% USDT/USDC (stable)
• 4% WETH/USDT

The Future

The launch of our protocol will mark the beginning of our journey on the Core chain. Spoon Exchange is our starting point, as we previously stated on our socials. We have plenty of things to build on Core, and $POON will always be the center piece of what we are planning for you! (Yes, we like surprises.)

After the launch, we will focus on :

• Growing our community by making some strategic partnerships (we’re already in discussion with other protocols) with other CORE projects, influencers, and external communities.
• Adding deflationary mechanisms to $POON.
• Exploring some Spoon synthetic tokens to maximize capital efficiency
• Build the Spoon ecosystem by adding protocols on top of our DEX

It’s important to keep in mind that the community plays a crucial role in the success of the Spoon Exchange. The protocol will be owned and governed by the community and there’s a lot in store for the future.

The team is motivated and full of surprises, so keep an eye out and stay connected to the movement by following us on our social medias :

Website: https://spoon.exchange/
Twitter: https://twitter.com/SpoonExchange
Discord: https://discord.gg/spoonexchange