Liquidity Mining

Liquidity Mining with Progressive Locking (Papermill)

The liquidity mining program is designed in a way that liquidity provider interests are aligned with the protocol’s long-term success. It rewards early participants generously while ensuring that the circulating supply of our governance token PLY increases gradually. This is achieved by a progressive locking mechanism that encourages delayed gratification.

Before Token Launch (pre-mine)

• Allocation: 260,000,000 PLY

• Duration: March 2, 2022 - May 5, 2022

At maximum, 5% of pre-mine tokens will be in circulation the first week after the token launch because of the Progressive Locking mechanism.

Post Token Launch

• Allocation: 3,740,000,000 PLY

• Duration: 52 weeks

Post token launch weekly allocation

Week	Weekly PLY
1	300,000,000
2	260,000,000
3	220,000,000
4	200,000,000
5	180,000,000
6	160,000,000
7	140,000,000
8	128,000,000
9	116,000,000
10	104,000,000
11	92,000,000
12	84,000,000
13	76,000,000
14	68,000,000
15	60,000,000
16	56,000,000
17	56,000,000
18	56,000,000
19	56,000,000
20	52,000,000
21	52,000,000
22	52,000,000
23	42,000,000
24	38,000,000
25	38,000,000
26	38,000,000
27	38,000,000
28	34,000,000
29	34,000,000
30	34,000,000
31	34,000,000
32	30,000,000
33	30,000,000
34	30,000,000
35	30,000,000
36	26,000,000
37	26,000,000
38	26,000,000
39	26,000,000
40	26,000,000
41	22,000,000
42	22,000,000
43	22,000,000
44	22,000,000
45	22,000,000
46	22,000,000
47	22,000,000
48	22,000,000
49	22,000,000
50	22,000,000
51	22,000,000
52	22,000,000

Current Allocation for Different Slots

Slot	Share
PLY/NEAR LP Staking	6.00%
PLY Deposit	3.00%
USDC Deposit	12.00%
USDC Borrow	8.00%
USDT Deposit	7.00%
ETH Deposit	6.00%
WBTC Deposit	3.00%
WNEAR Deposit	1.50%
STNEAR Deposit	1.50%
NEARX Deposit	1.50%
AURORA Deposit	0.30%
TRI Deposit	0.10%
Ecosystem Liquidity*	50.10%

*Ecosystem Liquidity allocation is reserved for incentivizing Aurigami's liquidity growth via other platforms in the ecosystem. For example, vaults and integrations.

Token Locking Model

Every week, a portion of the PLY reward can be unlocked, while the rest will remain locked (as PULP).

The later the claim, the larger the percentage of PLY that will be unlocked. 76 weeks after the token launch, all PULP can be converted 1:1 into PLY.

Locking schedule

Week	PLY	PULP
1	5%	95%
2	7%	93%
3	9%	91%
...	...	...
47	97%	3%
48	99%	1%
49	100%	0%

Locking examples

Case 1

Alice mines 100 PLY by Week 1, including premine rewards. If she were to claim, she would receive 5 PLY and 95 PULP (5% PLY, 95% PULP).

Alice continues to farm and mines another 50 PLY by Week 4. If she were to make another claim in Week 4, she would receive 5.5 PLY and 44.5 PULP (11% PLY, 89% PULP).

Case 2

Bob mines 200 PLY by Week 48, including premine rewards. If he were to claim, he would receive 198 PLY and 2 PULP. (98% PLY, 2% PULP)