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The first DEX on the Ethereum Classic Network, ClassicSwap, has made a final determination for its Monetary Policy
After a many months of back and forth over different options for the monetary policy of the up and coming ClassicSwap token, a final decision has been made.
Here’s how minting process for the CLS token will operate on the ETC blockchain:
First Phase:
A 2 week ICO will begin on the launch date of the ClassicSwap DEX, in which people who would like to invest into the CLS token will be able to deposit wETC and receive their cut of the initial 10 000 000 CLS will wait until the end of the ICO. At that point, the Smart Contract which will be handling the ICO will determine a set price which will be calculated as such ((Starting Supply) /Funds deposited) and will then allow those who had purchased CLS during the ICO to withdraw their new tokens.
Second Phase (Earning Phase):
This phase will last for as long as the CLS supply is less than 87 500 000, and will involve direct CLS staking, as well as CLS liquidity pair staking. This staking will use fixed daily ROIs which will be adjusted as follows
10 000 000 — 50 000 000 CLS Supply:
0.35% daily ROI on Direct and Pair CLS staking
50 000 000 — 75 000 000 CLS Supply:
0.175% daily ROI on Direct and Pair CLS staking
75 000 000–87 500 000 CLS Supply:
0.0875% daily ROI on Direct and Pair CLS staking
Third and Final Phase:
After the first 87 500 000 CLS have been minted, the final 12 500 000 CLS will be minted for further earning opportunities as well as further project development. Since no CLS will be minted after this phase, the token will become deflationary as we implement new deflationary mechanisms over time, which in turn should increase the value of the existing CLS. At this time, we are confident in saying that CLS will have a very important part of the ClassicSwap DEX project before and after the earning phases.
Source: https://medium.com/@ClassicSwap/the-first-dex-on-the-ethereum-classic-network-classicswap-has-made-a-final-determination-for-its-ccceafb0d087