Farm Launch Imminent
The filthy unwashed masses have spoken and decided the staking assets for the glorious $GME yield farm. Unlike the recent US presidential election, this one was not stolen by deep state actors. Remember, $YFI, $LINK, and $CREAM were pre-selected by the impoverished wagie team members based on their heaviest bags. The peoples’ dollar menu choices voted in via Discord are:
Looks like a lot of you have heavy algo stable bags. May the price recover swiftly and reach the peg. I’m sure it will. In the meantime, no happy meals included for these winners, just free $GME for staking. The farm will launch on Jan 31 at 04:00 GMT. Please see below for details.
$GME distribution event
The $GME token will be distributed via a standard yield farm starting on Jan 31, 2021 at 04:00 GMT. This contract is a battle tested and audited contract used for almost every DeFi yield farm. We forked it from Mith Cash (who forked it from Basis Cash who forked it from…) and you can see the diff file here (link coming soon). During the first two weeks (bootstrapping period) there will be 20 staking pools and a liquidity pool (GME-ETH) on Uniswap.
During bootstrapping, 300,000 $GME will be distributed evenly across each staking pool and 200,000 $GME will be distributed to liquidity providers. After the two week bootstrapping period, the remaining 500,000 $GME will be distributed weekly over the next 8 weeks as follows:
- 37,500 $GME to the staking pool of the winning token, which is 60% of that week’s rewards
- 25,000 of $GME to liquidity providers, which is 40% of that week’s rewards
No more $GME will ever be distributed after this.
Schedule (all times 04:00 GMT)
- Weeks 1 & 2 (Jan 31 to Feb 14, 2021): Bootstrapping yield farm and first vote
- Weeks 3 to 10 (Feb 15 to Apr 12, 2021): Normal farming and rewards for previous week’s winners
What is an analysis?
- You can think of it like when a stock analyst puts out a BUY, SELL, HOLD rating for a particular stock or when your favorite crypto chartist draws a bunch of lines on a graph and gives a price target for a token. Some cool examples could be that someone notices a great token has a ton of short open interest on an exchange, or another undervalued token has a massive onchain short placed against it, or maybe they’ve identified a microcap token they think is going places.
Do I have to trade based on the winning analysis?
- Nope. Everything is voluntary and we believe in decentralization and freedom. Votes are just a signal of community support and belief. Nothing is enforceable.
I bought the winning token and I lost money
- No one can predict the future. You are responsible for your own trades and behavior.
Isn’t this market manipulation?
- No. Is it market manipulation when a big Twitter account tweets they are bullish on a token for X, Y, and Z reasons? We believe in leveling the playing field.
How is the winner determined?
- Each week $GME holders will vote on the analysis they favor in a YES/NO vote. For a vote to be valid it must reach a quorum of 10,000 $GME. If multiple analyses reach quorum, the one with the most $GME allocated to YES is the winner for that week.
Why are there weekly rounds of voting?
- We think it’s better for community focus and organization. Having continuous voting and proposals would be chaotic and we would rather the community rally around a single analysis every week. It also makes rewarding the winner via staking rewards easier.
What if the same token keeps winning?
- Then the people have spoken. There will be no rule that LINK Marines can’t brigade and keep posting bullish analysis on $LINK. We think some diversity is healthy and will naturally occur, though.
How is this related to GameStop?
- In case it isn’t blatantly obvious, this project is in no way related to the publicly traded company GameStop or their stock. Think of it as a fan site or a parody. This is fun protected free speech. Please address all copyright infringement claims to our lawyers in the Seychelles.