Project Description
Phoenix Bonds - a novel bonding game built on LiNEAR protocol.
Phoenix Bonds is a principal-protected bonding platform that helps protocols with liquidity-bootstrapping and provide perpetually-boosted yield to users.
$pNEAR is an NEP141 token that is minted when users forgo their bonded $NEAR to the protocol and claim $pNEAR. Since $pNEAR can always be redeemed proportionally for $NEAR in the Reserve bucket, the $pNEAR token captures extra rewards generated by $NEAR that’s outside the Reserve, creating an amplified yield.
$pNEAR’s market price in $NEAR would fluctuate within a predictable band, so the $pNEAR<>$NEAR will be the most suitable pair for V2 Pools.
Project plan/development
The first version has been launched for $LiNEAR, the staking derivative token of LiNEAR Protocol. In the future, Phoenix Bonds can work with all yield bearing assets, it could be used for increasing token stake rate or funding lending markets.
Farming goals
This proposal intends to attract more LPs to use V2 Pools to provide liquidity and increase the liquidity of $pNEAR<>$NEAR. Compared with the $pNEAR<>$NEAR V1 pool with the same TVL, the slippage will be reduced by up to 10+ times by using V2 Pool .
Details
Pair : $pNEAR <> $NEAR
Type : Dual Rewards
Fixed Price Range A: 1.29~1.39 NEAR
$LiNEAR : 400 / week
$REF : 1000 / week
Fixed Range B: 1.25~1.45 NEAR
$LiNEAR : 200 / week
$REF : 1000 / week
Length : 25 days
Estimated Starting Date : March 6st
Targeted TVL : $300k+
Targeted APR : 40%+