Topshelf Finance (LIQR) Token What is it, how to buy and price?

Topshelf Finance (LIQR) Token What is it, how to buy and price?

Crypto Market
January 23, 2022 by bestbitcoinmarket
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In this article, we will discuss information about the Topshelf Finance project and the LIQR token. What is Topshelf Finance (LIQR) | What is the LIQR token? TopShelf Finance is a fork of the Ethereum-based Liquity protocol. TopShelf is a decentralized lending protocol that allows users to obtain interest-free loans against collateral. Loans are repaid
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In this article, we will discuss information about the Topshelf Finance project and the LIQR token. What is Topshelf Finance (LIQR) | What is the LIQR token?

TopShelf Finance is a fork of the Ethereum-based Liquity protocol.

TopShelf is a decentralized lending protocol that allows users to obtain interest-free loans against collateral. Loans are repaid in synthetic tokens (eg USDL., BNBL, FTML) and must maintain a minimum collateral index of 110%.

The loans are guaranteed by the guarantee, a Stability Fund, and by other borrowers acting collectively as guarantors of last resort. Learn more about these mechanisms in our documentation.

TopShelf Finance is non-custodial, immutable and has no control.

How can you use TopShelf?

In the following example, a user has BNBand you want to use it as collateral.

1. Borrow or coins USDL (a synthetic token) by providing your BNBas collateral.

2. Secure TopShelf by providing it USDLto the Stability Pool in exchange for rewards (including LIQRprotocol token).

3. Participation LIQRto obtain commission income paid for borrowing or redeeming.

4. Redeem $1from USDLfor $1from BNBat par price when the USDLparity falls below $1.

Why use TopShelf?

0% Interest Rate – As a borrower, there is no need to worry about accumulating debt.

Minimum guarantee ratio of 110%: more efficient use of the collateral deposited.

Governance-free: All trading is algorithmic and fully automated, and protocol parameters are set at the time of contract implementation.

Directly redeemable: Synthetic tokens can be redeemed at face value for the underlying collateral at any time.

Fully decentralized – TopShelf contracts do not have admin keys; no one can alter the rules of the system in any way. The smart contract code is completely immutable.

What does TopShelf offer?

The protocol provides the following services:

1. It allows users to hold their positions in collateral and take loans against them, thus freeing up caudal to deploy elsewhere.

2. Provides a stable currency, USDL, which does not have 100%fiat backed and therefore more decentralized than stablecoins like USDTY USDC.

3. Allows users to take short positions on tokens like BNB, FTMY AVAX.

Initial Liquidity Event

Topshelf will start with an Initial Liquidity Event (ILE) to ensure consistent and healthy liquidity for the native protocol token, LIQR.

The ILE will occur simultaneously on BSC, Fantom, and Avalanche. In a specific schedule that we will announce soon, ILE contracts will be opened for deposits of BNB, FTMY AVAXdepending on the chain. Deposits will be open only to included participants on the white list; more information about the whitelisting process will be posted shortly (join our Discord!) .

There will be an initial contribution limit allowing guaranteed entry for everyone whitelisted within the first hour. The cap will double every hour until removed at 4 hours. The ILE will last for 24 hours, or until a maximum limit of $5 million is reached on that chain. Additionally, the contracts are capped at a minimum of $1 million; merienda it is reached, the contract will be closed for new deposits 6 hours later . If not the minimum limit is reached, participants will be able to withdraw their contribution after 24 hours.

Merienda the ILE is finished, the received tokens will be combined with 2% of the LIQRtotal supply to create initial liquidity in the DEXs of the respective chain: PancakeSwap, SpookySwap and TraderJoe. These LP tokens are permanently locked within the contract: the liquidity is “protocol owned” and can never be removed.

ILE contributors will receive 3% of the total supply of LIQR, distributed proportionally according to their contribution. Thus, all participants earn a 50% profit based on the initial price set on the LP token. The tokens are transmitted linearly for 30 days, starting from the moment they are LIQRbroadcasts begin within the main protocol (less than 24 hours after the closure of the ILE).

At any time during the 30-day streaming period, a contributor can choose to withdraw their entire rewards cómputo at merienda. In doing so, they must pay a 33% penalty on all outstanding purchased tokens. The tokens paid in the penalty are evenly distributed among the remaining users who have not exited early. If all users leave early, the remaining penalty tokens are burned.

The initial liquidity event is planned in about a week with the exact date and time to be announced.

The LIQR tab

LIQRis the native protocol token for Topshelf. It is given as an incentive to early adopters of the protocol to encourage healthy liquidity within the system and on related decentralized exchanges.

LIQRit is a revenue sharing token. 100% of the fees generated by the protocol are distributed proportionally to LIQRthe interested. Since Topshelf is immutable and has no governance, holding LIQRit does not convey any governance rights.

tokenomy

3,000,000,000 total supply

6% aggregated as initial liquidity for LIQR

9% distributed to participants in the initial liquidity event

25% evenly distributed among the Stability Groups over 6 years

20% reserved for third party AMM incentives for 6 years

20% as incentives for wagerers of LIQR LP tokens for 3 years

20% earned for the Topshelf team over 3 years (granting starts 30 days after protocol launch)

Rewards for Liquidity Provision

Topshelf will have an initial liquidity event to generate an initial amount of protocol owned liquidity (POL) for the protocol token, LIQR.

A liquidity rewards program will start with the launch of the protocol, distributing 25% of the total LIQR supply in a logarithmic decrease over 3 years.

LP Stakes and Fees

LP staking has deposit and withdrawal fees.

The deposit rate is fixed at 2%.

The withdrawal fee is variable, starting at 8% and reducing by 1% per week until it becomes 0 after 8 weeks.

50% of these fees are sent to the protocol treasury and converted to POLs that can never be deleted. The remaining 50% is withdrawn, the LIQR is burned, and the matched token is sent as an incentive to the LIQR staking contract.

LP staking operates on a 3-year record decay, twice as fast as nearly all other issues in the system.

risks

Being a non-custodial system, all tokens sent to the protocol will be retained and managed algorithmically without the interference of any natural or procesal person. That means your funds will only be subject to the rules laid out in the smart contract code. TopShelf is a fork of Liquity, which has been audited twice by Trail of Bits and merienda by Coinspect.

There are two scenarios where you may lose a portion of your funds:

You are a borrower (Trove owner) and your collateral is cleared. You will still keep your borrowed USDL, but your Trove will be closed and your collateral will be used to compensate Stability Pool depositors.

You are a Stability Pool depositor and your deposited USDL is used to pay down the debt of liquidated borrowers. Since settlements are triggered each time borrowers’ collateral falls below 110%of , you will receive a guarantee in return with a very high probability. However, if the price of the collateral declines and you maintain the exposure, you may lose value in the total deposits in your mutual fund.

Please note that although the system is diligently audited, an attack or bug resulting in loss for users can never be completely excluded.

Official Web

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