HeliSwap Spring Update
Welcome to the HeliSwap Spring Community Update !
Before we start with an update on the weeks ahead, we want to look back and summarize what we achieved together:
A look back at the past weeks:
We are very proud to see several goals on our roadmap completed already: We launched the HELI token through the Lockdrop with an incredible participation, launched the Claimdrop feature to reward the community for their engagement (Lockdrop participation, Heli Ducks NFTs and much more). Soon after we integrated with C-14 to allow FIAT on-ramp on HeliSwap followed by the integration with Blade Wallet – a close partner of our platform. Overall, and despite the uncertain times with the exploit, we managed to look ahead and to keep building. But we could not have achieved this without the community!! Thank you for being there and believing in the project. We are only getting started.
To keep you in the loop, we would like to share with you what we are finalizing and rolling out over the coming weeks.
Centralized Exchange Listing
Yes, you read that right. We are soon (and by soon, we mean in a few days), celebrating our first centralised exchange listing. This should not just legitimise the project to the outside-Hedera world, but also increase the popularity and engagement of the HeliSwap brand, while stabilising the token. Stay tuned for our announcement around the listing very soon!!
HELI Single Sided Staking
Yes, we have mentioned it a few times, and it is coming – and is arguably the most advanced Single Sided Staking mechanism on Hedera. While the team is working tirelessly on more sophisticated utility drivers for the HELI token, our Single Sided Staking will not just help to stabilize HELI itself but also provide true and real utility. Did we grab your attention? Then keep reading.
SSS will be rolled out in 2 Phases:
Phase 1:
“Getting used to the mechanism”. This version of SSS allows users to stake their HELI tokens into the SSS pool without the risk of facing impermanent loss, while receiving rewards for their contributions. This SSS pool will go live on April 25th and remain active until Phase 2 is rolled out. The End of the Phase 1 SSS Pool is pre-announced, and our team will make sure to remind you several times before Phase 1 ends, so that you can prepare to move your funds into SSS Phase 2.
Phase 2:
This form of SSS is much more advanced – the most advanced Single Sided Staking mechanism on Hedera. In short, it adds lock-up periods as a functionality and grants voting power for the HeliSwap DAO. Yes, you heard right, the SSS mechanism on HeliSwap will be directly tied in with the DAO.
And with this Phase 2, we are also launching the DAO, giving ownership and decision-making power to you – our community members and supporters. We will soon provide more information on how the Phase 2 SSS pool and DAO are inter-connected.
Speaking off, Whats going on with the DAO?
We have finished the DAO platform and it looks great! The team really worked hard to pull this together and it will serve the HeliSwap community as the perfect foundation to move forward and to build great things together. We are currently finishing the integration between the DAO and Phase 2 SSS. Once Phase 2 has been rolled out, we can launch the DAO platform. To show you what to expect, we are preparing a few videos and explanations soon about the DAO UI & how to use it.
We are beyond excited to give HeliSwap its own beating heart and to serve the community decisions as best we can. Get your HELI tokens ready.
What’s going on with the Yield Farms? There was a lot of movement.
We recently introduced a new variety of Yield Farms that involve the HELI token, while phasing out some HBAR farms. Since the feedback of the community was very mixed, we would like to share the reasoning behind it:
(1) We want to encourage more and more users to hold HELI and to participate on the platform. Especially considering decentralization for the DAO, a wide base of HELI holders is ideal. This is why new HELI farms were started with significant APR– with the intent to encourage others to join the platform. We understand that we may have executed this a bit too fast, as the anticipated movement into the new pools was rather slow, but this will be corrected.
(2) Hedera Native Staking: At the moment, HeliSwap is not benefitting from Hedera Native Staking rewards. The team is working hard to enable this feature and to prepare the move. The phasing out of some HBAR farms, means that we do not have to make a work intensive and unorganized migration into new HBAR pools, but have a more streamlined process at hand. We will share more information on this soon as well.
(3) Once Hedera Native Staking is enabled, an increased focus will be given to HBAR farms and new HBAR farms will appear / old farms will reopen. This will directly impact the TVL on HeliSwap as we attract more liquidity.
Update on the HBAR Grant & HBAR Rewards:
We still have around 20% of the HBAR foundation grant left, which allows us to keep paying out HBAR Rewards to reward the community for participation.
We know that you guys love HBAR rewards, so we want to do our best to keep them going even after the grant tokens are depleted. The first step will be the new Hedera Native Staking which allows us to accumulate and grow an HBAR reserve while you guys still get to enjoy the grant. HeliSwap can then keep HBAR rewards alive even after grant depletion.
There are other aspects we are looking into, but they are not going to be deployed within the next few weeks, so stay tuned for the next update on this.
What's up with Lockdrop and Claimdrop? Any new projects?
Both the Lockdrop and Claimdrop features were built keeping community engagement and the function of a DEX as a DeFi platform in mind. We are currently speaking to several projects directly, about launching their token through our pioneered, unique Lockdrop mechanism. Further, you will soon see partner projects leveraging the Claimdrop feature to reward their very own community engagement with HeliSwap.
Are you looking to launch your token through HeliSwaps Lockdrop feature or market / reward your project through the Claimdrop feature? Get in touch with the team at contact@heliswap.io or ask about it on discord / telegram.
Closing remarks:
Thank you for your continued support and trust in HeliSwap and the LimeChain team. We are doing our best to repay your trust by building a future-ready, transparent and easy to use platform, that is uniquely prepared to become #1!