Latest #SAL Development
Here we want to share the latest development of #SAL project.
- The SalmonSwap, short for sSwap, will launch next week. And we will support liquidity providing between any two TRC20 tokens, a.k.a there will be USDt based LP tokens, not only TRX based tokens.
- The vote for two additional #SAL pool will start on Sep, 7th, 2020. The exact time is yet unknown. For more info regarding the vote and the pools, take a look here:
3. #SAL Tokenomic remodel:
Currently we have total supply of 500 million #SAL, while 400k is in circulation. Even most of the #SAL token is un-circulated, the team got feedbacks from the community that they worry a lot regarding the total supply.
The team has discussed the remodeling of the #SAL tokenomics to benfit #SAL holders in the long run, the new tokenomics would be:
- Currently we have 3 pools ongoing, plus 2 additional 7-day pool coming up, plus dev share from 3 initial pools, which will give out 544k #SAL in total. The vote will yield another 10k #SAL rewards to #SAL holders. That is 554k #SAL.
- Once the initial pools are over, the team will create a new #SAL token contract with the new tokenomics. #SAL holders need to exchange their old #SAL token to the new one. (That is 11 days from now on Sep 17th, 2020). The new contract will have a flex total supply as new #SALs are producing each day rather than an intimidating 500 million set aside.
- Basically, all LP staking pool will share 0.5 #SAL per minute according to their weight. That means, each day, there will be 720 #SAL minted as rewards, which adds up to 262,800 #SAL token per year.
SAL-USDt LP pool stakers will share 0.5 * 0.4 = 0.2 #SAL rewards per minute.
4. the ownership of #SAL token contract will be entitled to a timelock contract with 48 hours delay, and the team would also ask for professional audit regarding the contract security.
5. The team decided to burn 499 million #SAL (old token). The dev team will setup an open-sourced contract with its ownership set to empty address and send the #SAL token there. Once that’s done we will publish the transaction hash. The ETA is Sep 7th, 2020.