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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
8.00%
ETH Deposit
6.50%
WBTC Deposit
3.00%
WNEAR Deposit
1.50%
STNEAR 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)