Nov 10, 2021
Introducing the PearZap DEX and our new backup token for $PEAR; $JUIX
In this Medium blog we will tell you all about: our DEX, $PEAR scarcity and our new $JUIX token.
🚀 Let’s first talk about our DEX specificities 🚀
Launching our own DEX is a major milestone that was planned on our roadmap since the beginning of our project.
We want our DEX to bring some innovations into the standard AMM/DEX model, which was originally developed by Uniswap. Our DEX code is based on the really strong Uniswap V2 code (we will come later into the article on the security) with some improvement into the this model to bring innovations. Our DEX code is undergoing a security audit by Obelisk Auditing company.
Developed on Polygon first as promised, our DEX will be Secure, Fast, Decentralized and Inexpensive (due to low tx fee on Polygon and our very competitive trading fees). PearZap aims to bring our existing multi chain development into our dex development as well. After DEX deployment on polygon our DEX will be extended to BSC and Fantom in the near future.
The PearZap DEX will bring some amazing new features and possibilities to our project, for example:
- The possibility (automatically) to add and remove liquidity to our own native LPs without paying the 2% burn transfer tax of PEAR. This feature will be available at launch of our DEX.
- The possibility to create liquidity in one click from a token. This zap feature will be developed soon.
- An easy way to migrate liquidity from another DEX to PearZap DEX.
- Adding liquidity and support for smaller projects and close partnerships such as a launchpad like POLYDeFi.
- Having very competitive trading fees with a large part redistributed to the liquidity providers. Our trading fees will be 0.25% on any pairs and 0.2% on our natives pairs. 60% of these trading fees will be automatically redistributed to the liquidity providers. The 40% left will be sent to a dev wallet and used 50/50 to buy back & burn our native tokens and fund our operational expenses ( details : 10% to buyback and burn JUIX, 10% to buyback and burn PEAR and 20% to fund operational expenses ). These ratios are far more competitive compared to the actual DEX we’re using.
- Following the above numbers, 20% of all trading fees on the DEX will be used to buyback and burn our native tokens. This will be done manually in for the first few times and then it will be fully automated with smart contracts. Those smart contracts will be developed soon. This process will give a strong price floor to our native tokens.
- It will also bring specific features into our coming vaults and it will open an easy way to bring vaults of new projects that will join our DEX ecosystem. High incentives for projects that will join the PearZap DEX is the goal.
- Here’s the advantages of projects joining our PearZap DEX along with their liquidity:
- Lifetime: reduced trading fee on their pairs to give them a better incentive.
- For 60 days after they joined our DEX: the part of the fee (parts of LPs) which are distributed to the Pearzap fee wallet (20% of 0.2% trading fee) will be disassembled and used as followed: project native tokens will be either burnt or sent back to project (to be defined with each project) and 25% of the other token (USDC,MATIC,BUSD,BNB,USDT,FTM) will be used to buyback project native tokens and either burnt or sent back to project (to be defined with each project)
$JUIX
- PearZap DEX comes with a new token: $JUIX. The DEX will also be named; Juix. It’s Juix by PearZap ;-) The JUIcy deX!
🧃 $JUIX token 🧃
$JUIX is a new token linked to the PearZap Juix DEX. JUIX stands for JUIcy deX. You already know that PearZap loves its juicy features and especially our juicy APRs.
You may ask immediately: Why do we want/need to introduce a new token at PearZap?
The first reason is that $PEAR is a capped token with a maximum circulating supply over all chains of 60,000,000 tokens. This means that one day, we’ll stop the emission of new $PEAR to turn $PEAR into a fully deflationary token. $PEAR has a very good in-built burning mechanism and the circulating supply will decrease fast after we will stop the emission.
If we stop the emission of $PEAR, it can’t be used into a dex process anymore, it won’t be able to give incentives and rewards to liquidity providers and farmers anymore at that time.
The primary function/utility of $JUIX token is to incentivize providing liquidity into the DEX. Without $JUIX token distribution into the DEX farms, there will be much less incentive to provide liquidity. Liquidity Providers are mainly rewarded through the following ways into the DEX program:
- Their LPs will gain value over time with the distribution of all trading fees (60% of 0.25% of any trade) added automatically into the LPs
- Extra rewards by staking their LPs into farms to earn $JUIX tokens with great APRs.
$JUIX is uncapped and dedicated to the DEX biggest feature: reward the Zappers! But of course, $JUIX will take a place into coming vaults, games and NFTs to add more and more utility.
Of course $JUIX will come with some built-in burning mechanisms to fight inflation which we’ll talk deeper into our next article. You already know that we master the burning mechanisms with $PEAR (already 3M tokens burned in full automatic mode only on Polygon chain on 15M tokens minted in less than 3 months).
$JUIX will also be integrated into our future governance system to let the community vote on important changes on PearZap ecosystem.
What about $PEAR in correspondence to the upcoming DEX ?
$PEAR will stay on the center of the stage with utilities inside our gardens, games, coming Vaults and NFTs.
Until the $PEAR max circulating supply will be reached, $PEAR will continue to be distributed as a reward into our native farms and pools.
When JUIX will reach the front of stage, we will start to introduce a great plan for $PEAR:
- reducing the emission of $PEAR per block following a schedule within the next months. Reducing the emission will increase the $PEAR rarity.
- removing non natives farms and pools which are rewarded with PEAR and keep only native farms and pools to drastically reduce sell pressure on $PEAR.
- introduce an innovative locking system for $PEAR to add more and more incentive to hold PEAR long term.
We will maintain a high focus on $PEAR development in parallel of the DEX and JUIX token development.
$PEAR will also continue its journey to reach more chains.
When DEX ser ?
We will come with more details about the planning in the coming days but here are the main points:
- PearZap DEX will be launched only after finishing a full security audit. This should be done between the 14th and 17th of November.
- PearZap DEX will first be launched in a beta version on Polygon with only $PEAR pairs and $OCTAGON pairs from POLYDeFi to start the migration process of liquidity before the launch of $JUIX token. We will come with details about that migration process really soon. We prepared a process with absolulty no transfer tax fee (2% for $PEAR) to help you Zappers having a smooth and really cheap migration process.
- $JUIX will be launched by a dual fund raise on both PearZap and POLYDeFi platform before its launch. $JUIX launch will be paired with Pearzap DEX (Juix) final launch. We will come soon with details and numbers about this dual fund raise.
PearZap bridge
Tomorrow the 11th of November at 1 PM UTC we will open up the bridge again. We do this to live up to our promise of creating one multi chain $PEAR token. The prices of $PEAR on all our covered chains are almost the same thus timed well, the same applies for the APRs on each chain. This feels like a pearfect time to open up our bridge again.
