Smoothy Finance ($SMTY) — An Asset Backed Swap Protocol
BSCPad Public Sale Date:
Thursday April 22nd
Snapshot #1: Wednesday April 21st, 5 AM UTC
Snapshot #2: Thursday April 22nd, 5 AM UTC
Public Sale Token Price: $0.50 BUSD
Allocation Round Open: Thursday April 22nd, 8 AM UTC
Public Sale (FCFS) Round Open: Thursday April 22nd, 1 PM UTC
Pancakeswap Listing Date/Time: Tuesday April 27th, Time TBA
Maximum Token Supply: 100,000,000 $SMTY
Tokens Available in BSCPAD Public Sale: 200,000 SMTY ($100,000 raise)
Circulating Supply at Listing: 5,300,000 $SMTY
Market Capitalization at Listing: $2,600,000 USD
Public Sale Vesting Schedule: Fully unlocked at TGE
About Smoothy Finance
Smoothy is a novel stablecoin swapping protocol that is capable of supporting 20+ stablecoins in a single pool featuring low-cost low-slippage swapping and maximum interest earning for LPs. With over $76m on BSC and $42m on Ethereum in TVL (total locked value),
What problems does it solve?
With massive growth in both the size and total value of the DeFi marketplace, there is a huge demand for stablecoin yield farming and low cost swapping solutions. Today, we want to introduce Smoothy, a product built upon SmoothSwap. It is a single pool liquidity protocol specialized in same backed assets with low-cost zero-slippage swapping and maximum interest earning.
Feature List
1. Single pool with low-gas-fee swapping
Smoothy implements a unique Dynamic Cash Reserve Algorithm, which dynamically allocates the funds within a single pool, most of which is used for deposits to generate interest.The remainder is reserved to meet daily swap needs. It’s thanks to this mechanism that gas fees for swapping will be much lower*, as no extra interaction with smart contracts from other DeFi protocols occurs.
*from our testing, up to 80% lower gas fees compared to YPool in Curve and mStable
2. Zero-slippage swapping algorithm
Due to the market fluctuations and the infrastructure network performance limitations, all current DEXs including Uniswap have the high pricing slippage issue. To date, neither Curve.fi nor mStable have solved the slippage issue completely.
SmoothSwap provides a proprietary algorithm that can guarantee 1:1 ratio swap most of the time (if the soft weights are satisfied). If not, a transaction is still allowed by imposing a penalty (in extreme cases). Users just need to check the dashboard to see whether such a swap will be penalty-free, and if so, no slippage.
3. Free swap at anytime — the best of all worlds
Yes, Smoothie aims to pack the best of all worlds. Providing the best features of curve by being able to swap anytime; generating interest like mStable (which can only swap in some situations); and, offering low gas, anytime. No wonder they called it Smoothy!
4. Maximized interest earning
Smoothy has designed a unique Dynamic Cash Reserve Algorithm, which dynamically allocates the majority of funds into an underlying interest-earning platform while the rest is reserved to meet daily swap needs. These funds will be deposited into Venus to generate interest at an approximate rate of 10% APY. Once live, the actual APY will be posted on the Smoothy website and continuously updated. Liquidity providers will earn income from four different sources: swap fees, slippage fees on large transactions, interest (from Venus), and SMTY reward tokens. The first 3 incomes will be reflected in the price of syUSD, while the last is paid in SMTY tokens directly.
Tokenomics
Ticker: SMTY (Smoothy.finance)
Total: 100,000,000 SMTY
- Team 15% (4 years vesting, 3 month cliff)
- Advisors 5% (2 years vesting, 3 month cliff)
- Testing round rewards 1% (1 years vesting, 20% at TGE)
- Fundraising 10%
- Operation, marketing and partnerships 19% (1 year vesting with 1% unlock at TGE to provide initial liquidity)
- Liquidity mining reward 50% (including pre mining and genesis mining)
Token Utility
Governance token of SMTY:
● Voting on increasing soft weight of a stablecoin
● Voting to add new stablecoins and for providing collateral to LPs
● Governance voting for swap fee (collected by LPs with initial value 0.04%) and withdraw fee (buyback SMTY with initial value 0.04%)
● Incentive of the bootstrapping of asset liquidity via liquidity mining
Roadmap
Smoothy will hold their public sale across several platforms. Sales will be conducted on BSCPad (April 22nd), Daomaker’s SHO (April 24–25), Paddle finance (April 26–27), and Paid’s Ignition (April 27). These sales will culminate on the April 27th listing day, when trading will go live on PancakeSwap, Uniswap and a CEX (to be announced).
On the product front, several developments are still to come including Governance and DAO features, support for more stablecoins, support for algorithmic stablecoins, and expansion to other chains including Polkadot and Fantom.
Core Team
John Zhu
- Engineering director of Adobe
- Founder of QPocket wallet
- 18 years of engineering and product experience
Advisor Qi Zhou
- CEO and founder of QuarkChain, a scalable public blockchain that applied heterogenous sharding
- PhD of Georgia Institute of Technology
- Ex Google and Facebook engineer
-Author of SmoothSwap Whitepaper
▪️Website: https://smoothy.finance/
▪️Telegram： https://t.me/Smoothy_finance
▪️Twitter： https://twitter.com/smoothswap
▪️Discord： https://discord.gg/8zFZXtx
▪️Medium： https://smoothy-finance.medium.com/
▪️Gitbook: https://docs.smoothy.finance/
▪️Whitepaper: https://docs.smoothy.finance/introduction/simple-swap
Important details about participation on BSCPad:
BSCPad uses a tiered model that requires users to hold at least 1000 $BSCPAD tokens to participate. For full details about tier levels, review the landing page of our website at https://bscpad.com/.
Users must complete KYC verification before participating on BSCPad. For full details on completing this process, read our explainer article linked below. We have also included a list of restricted regions for easy reference.
https://bscpad.medium.com/bscpad-kyc-process-16e6a5557138
Restricted Region List: Botswana, Cambodia, Central African Republic, Democratic People’s Republic of Korea, Republic of Seychelles, Ethiopia, Ghana, Iran, Iraq, Libya, Somalia, South Sudan, Sri Lanka, Syria, Sudan, Thailand, Trinidad and Tobago, Tunisia, Venezuela, Yemen, and the United States of America (herein “Prohibited Jurisdictions”)
Bronze (1000 $BSCPAD) and Silver (2500 $BSCPAD) tier members must complete additional social media engagement tasks in order to be whitelisted for each IDO. The requirements for this specific IDO are listed below:
Whitelist Requirements for Bronze and Silver Members:
1. Join the #SMOOTHY Telegram:
2. Follow #SMOOTHY on Twitter:
3. Follow #BSCPAD on Twitter: https://twitter.com/BSCPad
4. Put out a tweet (originating directly from your account) containing the #BSCPAD & #SMOOTHY hashtags and share the link in the whitelist.
5. Follow the steps inside the white list form: https://bscpad.wufoo.com/forms/m1b5k8pf1mqndwf/
Stay connected to our official outlets for the latest on all of our launchpad offerings!
Web: https://bscpad.com/
Telegram: https://t.me/bscpad
Twitter: https://twitter.com/bscpad
