Defi | Crema Finance “launched IDO” tonight, introducing a centralized liquidity market-making mechanism | Dynamic Zone Trends – The Most Influential Blockchain Media (Bitcoin, Cryptocurrency)

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Defi | Crema Finance “launched IDO” tonight, introducing a centralized liquidity market-making mechanism | Dynamic Zone Trends – The Most Influential Blockchain Media (Bitcoin, Cryptocurrency)
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The Centralized Liquidity Market Maker (CLMM) ─ Crema Finance deployed on the Solana blockchain will launch IDO at 8pm tonight. It is reported that holding the native token CRM can enjoy functions such as governance, earning income distribution and improving liquidity rewards. (Recap:Crema Finance completed 5.4 million magnesium private equity financing, led by Qiming Venture Partners) (background supplement:DeFi Science | Decentralized finance is on the rise, what is “automatic market maker AMM”? )

baseThe centralized liquidity protocol on the Solana blockchain, Crema Finance, will officially launch IDO at 8:00 pm Taiwan time today (28). Crema is the first Dex project to deploy a centralized liquidity market maker (CLMM) on the Solana mainnet. Compared with the traditional market maker mechanism (AMM), CLMM allows users to add liquidity within a specified price range to further optimize funds Use efficiency.

According to official statistics, in the past three months, the cumulative transaction volume of the project has exceeded 1 billion US dollars, and more than 32,000 unique users have interacted with the protocol, ranking among the active users of all Solana Dapps. Top 10.

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Crema IDO Auction Details

According to the official description, this IDO will be carried out in a “Mango-style” scheme. Users who want to participate need to transfer any amount of stable currency USDC into the IDO pool within a specified time, and the final IDO price will be deposited by the user. The total amount of USDC is determined, and users can obtain the corresponding amount of CRM tokens according to the deposit ratio.

IDO process:

01|Deposit period (36h):

From 20:00 on June 28, 2022 to 08:00 on June 30, Taiwan time (UTC+8), users can deposit USDC into the IDO pool.

02|Withdrawal period only (12 hours):

After the deposit period ends, there will be a 12-hour flexible time to allow withdrawals, and users can reconsider the total amount of funds that they ultimately want to put into the pool. It will be held from 08:00 on June 30, 2022 to 20:00 on June 30, Taiwan time.

03|IDO completed & started to claim tokens

Finally after 20:00 on June 30, 2022 Taiwan time, all IDO participants can start claiming their corresponding CRM tokens.

CRM Assigned Quantity:

0.5% of the total supply (5,000,000 CRM) will be allocated in IDO 0.5% of the total supply (5,000,000 CRM) will be used to provide initial liquidity for the CRM-USDC trading pool

CRM Token Function Introduction

According to Crema’s official white paper, CRM tokens mainly have the following three empowerments, which are inspired by the token model of the stablecoin protocol Curve and will be implemented in the form of veCRM.

01|Earn income

veCRM holders will be rewarded from Crema Finance’s revenue, the actual percentage will be determined by the DAO. Initially, 50% of platform revenue (including swap products, cross-chain fees and pool setup fees…) will be used for CRM buybacks and distribution to veCRM holders; the other 50% will be used for operations and product development.

02|Increase the reward multiple

By locking veCRM, the user’s liquidity mining reward can be increased up to 2.5 times. This design helps tie the protocol to the mutual interests of liquidity providers, incentivizing LPs to make decisions that best serve the ecological interests.

03|Governance

veCRM holders can initiate or vote to support DAO proposals, and the voting weight is based on their veCRM holdings.

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