[Farm] UTOPIA Token (UTO)

Project Description

UTOPIA is the utility token for the Secret Skellies Society and Grimm’s Army project on the $NEAR blockchain. UTOPIA is the first NFT utility token in the $NEAR blockchain and had an initial Liquidity of 10,000 NEAR.

Project plan / development

The token is integral in the creation of the Gen 3 collection and other planned utilities in the Secret Skellies ecosystem. It is not intended to be a security. UTOPIA is a deflationary token with a max supply of 30Million and our planned utilities will burn UTO either directly or indirectly (refer to flowchart). UTOPIA can only be generated by holding a delisted Secret Skellies Society and/or Grimm’s Army NFT.

Farming goals / narrative

Support initial liquidity of UTO Token on Ref Finance with an UTO / NEAR pair. This proposal is to allocate boost liquidity rewards for the UTO / NEAR pool to provide more incentives for users to provide liquidity.

Details

Pair : UTO <> WNear
Type : Single Rewards
UTO : 6000/week
Length : 31 days
Estimated Starting Date : 4th April
Targeted $ TVL : $100k+
Targeted APR : 200%

6 Likes

I like the approach.

That paves the way for project-backed liquidity incentives. Today, $REF supports all farms. Why would the Ref farming contract not give place to Ecosystem Pools? Pool that could be supported by their own project, without the need to have $REF as rewards.

That does not mean the UTO <> wNEAR pool will never have $REF, but it makes me think of the above as the initial proposal is not asking for $REF rewards.

The standardisation of the above could lead to different categories within Ref farming interface, for example (looking at Tri Solaris):

  • Multi Rewards Pools
  • REF Pools
  • Ecosystem Pools (backed by the project only)

DAO proposal #135

1 Like

DAO Proposal 158 to add REF rewards to the farm. 958 REF/week (4253 total).

2 Likes