Gamified tokonomics by using a novel non-loss lotto yield game reward system.
Introduction of SUSHICATS own game token called SUSHICATSYFI (SCYFI) and its connection to $SUSHI
Abstract / Specification
SUSHICATS is a gamified DeFi savings lego, and no-loss lottery pool. As opposed to traditional (no catnip!) lotteries, users do not incur a cost for participating, other than Ethereum gas when entering the pool. SUSHICATS uses game theory to promote the saving of money in interest-bearing accounts. The pool automatically farms the highest APY products in the marketplace to earn maximum yield for its participants. SUSHICATS keeps all of its cats happy:smiley_cat: and offers everyone a chance to win a lot of nip!
Users come together to pool interest-bearing assets such as yCRV. Once every 24 hours at 12 pm GMT, a “laserpointer” function (DeFi powerball!) will be called automatically, which selects a single winning address from each pool and issues a reward for 50% of the accruing interest from the daily pool, less a 1% lotto platform fee. The other 50% of interest continues to be rewarded to all cats equitably to keep them happy. SUSHICATS will constantly look for other games and opportunities to feed cats!
Non-winning users simply keep their growing money in the pool and wait for their lucky moment.
What makes participating in SUSHICATS even more interesting is the use of a novel fee-earning token called SCYFI. SCYFI has a daily buy-and-burn, making it a delectable entree for any shape of cat. SCYFI has a limited supply curve under 100,000 tokens which halves after the first month, and once a year following launch. 80 percent of reward fees from the SUSHICATS platform will be used to buy back and burn:fire: SCYFI on a daily basis automatically through a smart contract. The other 20 percent of reward fees will buy back and burn the dao token which created SUSHICATS, $SUSHI token. In order to draw in users and increase interest in the protocol, all users will be able to farm SCYFI by supplying liquidity to the SUSHICATS.
No-loss lotto rewards are proposed as being 50% of the daily accruing interest to balance between keeping all cats happy and enticing new users with a large daily award! If $20M liquidity is achieved, at current yearn yCRV APY (~$75%), lotto winners will take an estimated $20,000 each and every day. The other half of the interest will go to all LPs to keep all cats happy. SUSHICATS is initially envisioned as having a fee-earning platform token with a limited supply under 100,000 called SCYFI. SCYFI farming rewards halve after the first month, and once yearly afterwards. 80% of the 1% platform fee will go to buy-and-burn SCYFI every day. The other 20% of the platform fee will go to buy-and-burn $SUSHI . While SUSHI will be the DAO and entice new users to join forces with SUSHI , the majority of fees from present and future games will reward SCYFI holders
We need to innovate and take more steps to get SushiSwap to the next level. I believe that trading should be more fun and by proposing this gamified tokenomics, people will enjoy the possibilities with our SushiSwap platform even more.
- More use for the $SUSHI token
- Make SushiSwap a fun versatile platform with interesting opportunities
- The possibilities are endless with SUSHICATS, NFT’s next?
- Issuance of a new token is alway risky, only use a token if you think you need one
- Dividend incentives vs. LP incentives. There is a reason why they exist.
- Could be seen as gambling instead of yield farming.