Tokenomics of LOVE

How will our LOVE tokens be distributed?

Here at Love Boat, we understand knowing the tokenomics is essential before investing in a project, so here we will break our structure down in the simplest way for you:

  • Liquidity Mining Rewards
  • Ecosystem Growth
  • Current Team Allocation

Liquidity Mining Rewards (90%)

90% of the total LOVE token supply is allocated to the community to be farmed over a 5 year period. In its simplest form, Love Boat will have liquidity pairings that allow users to exchange “cryptocurrency X” for “cryptocurrency Y.” Anyone can provide liquidity on any ERC20 token trading pair they would like, and in doing so, receive an ERC20 token in proportion to the amount of liquidity they have provided. This “LP Token” can then be staked to earn LOVE governance tokens as a reward. By staking this liquidity pairing (LP), users are liquidity mining, or “yield farming”, earning passive income through the assets they hold.

We show our LOVE through liquidity mining! For those who provide LPs that require larger pools, Love Boat will reward LOVE tokens in addition to the yields that the given LPs already capture. By providing extra incentives in the form of LOVE tokens, we are offering the community liquidity mining rewards.

Is this boat starting to sound more like a cruise at this point? Most definitely. Love Boat is already paying you a yield, and additionally rewarding you with our own cryptocurrency. The beauty of DeFi means Love Boat’s overheads are minimal compared to those of centralized banks that offer a similar service, giving the power to you, the community!

Ecosystem Growth (6%)

6% of the total LOVE token supply is allocated to ecosystem growth over a 2 year period. “Ecosystem growth” is intentionally being loosely defined here, because the Love Boat team really needs to be considering the input of our DAO-based community in the earliest iterations of its development.

We can say with confidence that some of the ecosystem growth will be allocated to incentivizing team members and experienced advisors to join our project. Other potential uses of this allocation could be to form partnerships within the DeFi space or providing LOVE token to social causes that the community cares about. Love Boat will be relying on its robust community to help govern this allocation which we see as a huge competitive advantage, but is also why we are remaining flexible in this domain.

Current Team Members (4%)

4% of the total LOVE token supply is allocated to our current team members over a 1.5 year period. We believe that our dedication to community as a value is demonstrated through our 96% allocation to the community, or further to be determined by the community.

What is the Total Supply of LOVE?

The total supply is 1,000,000 LOVE tokens.

What is the current circulating supply?

The current circulating supply is 0! We will be deploying the Love Token contract to L1 Ethereum and mint the 1,000,000 LOVE tokens. These will then be bridged to Polygon and sent to our vesting contracts to be locked in at the emission schedule discussed above. We will announce when we put the first LOVE tokens into a trading pool (LOVE-WETH, LOVE-MATIC, etc.) on Love Boat Exchange!

What is LOVE token’s inflation rate?

The estimated circulating supply after 30 days is around 19,000 LOVE tokens. The estimated LOVE token supply in circulation after 90 days from launch is around 57,000 LOVE tokens.

How will the community be governed?

As a truly DAO-based project, LOVE tokens will be used for governance purposes to help decide the future and direction of how we operate. Community members can facilitate discussions on proposals in the Love Boat discord channel (or any public social channel). More formalized discussions on proposals can be conducted on our public forum (coming soon). Snapshot votes will be taken off chain to assess a proposal’s direction prior to voting on chain to officially add or remove the proposal and associated changes. We are still finalizing how voting will work because it is our priority to make sure governance is done in a way that honors the community. We will be adding in the governance functionality shortly after we launch. The governance functions are ready to be added, but we would very much like the community to add input prior to us adding them. Our goal is to fully decentralize as soon as the protocol gets its bearings and can sustain itself based on the protocol’s revenue from trading fees (and other activities… coming soon!). If you have thoughts, questions or concerns, we encourage you to join our community’s conversation happening on Discord so that we can build this boat as sturdy as possible.

Why Love Boat?

Our team intends on setting the standard amongst DEXs for community involvement/governance, as well as treasury optimization. Our rigorous approach to adding value will feel like a “Smart Treasury” unlike anything the space has seen before. We also want Love Boat to be as functional accessible as possible — with that we plan on being cross-chain compatible across other Layer 2 solutions like Arbitrum as well as other Layer 1 solutions. We are also exploring the “Ethereum Dark Forest” and other solutions (we can implement flashbots!) to reduce MEV for our users and community.

DISCLAIMER — Please note, all contract addresses will be shared at deployment. Please make sure that you’re using the correct contract addresses from our official channels. All vesting contracts will be verified on blockchain explorers so our token emissions and usage are completely transparent.

Need more info? Check out these articles

Team Tokens| Meme Contest | Liquidity Mining | xoLOVE |Intro

Love Crew Member Onboarding

Website |Twitter | Discord | Telegram | Gitbook

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