SpaceShipX Finance Liquidity Launch

Fractional algorithmic synthetic stablecoin farming platform on Polygon.

DETAILS

• Launch Details
  • Token will launch on MMF DEX, here
  • Token pair: xSHARE/USDC
  • Listing price: $0.005 – $0.01
  • Initial liquidity: $50 – $200 paired with xSHARE
  • 20,000 xSHARE minted for initial liquidity
  • Taxes: 0%
  • Farming is scheduled to open on Oct. 8

• Mechanics
  • Fractional collateralization mechanism is used to mint and redeem (burn) synthetic tokens – a tokenized derivative that mirrors the value of the underlying asset
  • xSHARE is the native utility token, used as collateral asset for minting/redeeming synthetics tokens
  • Initial synthetic token (“synths”) will be;
    • aMPL — fractional-algorithmic token, collateralized by xSHARE & MLP (MLP is the main token of MadMeerkat Perpetual Exchange)
  • Price stability is maintained through the minting and redeeming mechanics;
    • when over-collatarized (e.g. 1 aMPL = 1.05 MPL), mint the synth at a 1:1 ratio and then sell on the open market
    • when under-collatarized (e.g. 1 aMPL = 0.95 MPL), buy synth from the open market and redeem at a 1:1 ratio
  • Minting and redeeming synths on the platform incurs a 0.3% and 0.4% fee respectively
  • Synths can be used to participate in liquidity mining to farm xSHARE rewards, and to earn a share of protocol fees; e.g. stake aMLP/USDC in LP farms and earn xSHARE
  • xSHARE can also be staked to earn protocol fees or locked up (veSHARE model) to earn higher yields

• Tokenomics
  • Token symbol: xSHARE
  • Total supply: 100,000,000
    • 70% — Liquidity mining (linear vesting over 1 year)
    • 5% — xSHARE staking (linear vesting over 1 year)
    • 13% — Development fund (linear vesting over 1 year)
    • 10% — Treasury for peg protection, re-collateralizing (linear vesting over 1 year)
    • 2% — Strategic Advisors/Partners (linear vesting over 1 year)