Dear Community Members,
We’re pleased to announce Equalizer.fi, an AMM DEX that aims to achieve self-adjusted governance token distribution by market and uses a DeFi-optimized token economics, is open for pre-staking at equalizer.fi, will be officially live for liquidity mining at Ethereum block height 10962000 (around 09/29 8:00pm PST).
- The trading fee ratio is initially set at 0.3%, of which 0.15% will be allocated to LP, and 0.15% will be used to buy back EQL and burn. When the daily buyback amount is greater than the new daily-generated EQL amount, the entire system will become a deflationary mode.
- Trading pairs can be added freely by anyone, the weight of each trading pair will be re-calculated every 6 hours. The governance token EQL will be distributed intelligently by the activities, without subjective distributions by any person.
- The calculation of activity is determined by the amount of governance token EQL destroyed in this round. In addition to buyback from transaction fees, users can also burn EQL directly to gain more weight of liquidity mining of a pair.
- Quasi-fixed-supply (QFS) distribution model: 200,000 EQLs will be mined in the first 3.5 days. Then the first reduction applies, and 200,000 EQLs will be mined in the following 7 days . After that, the second reduction applies, and then 200,000 EQLs will be mined in the following 14 days , and so on.
- 0 Pre-mined, no private sale and no public sale. The 10% of liquidity mining on EQL is set aside for auditing, developers, and future employees.
Link to Equalizer tutorial: Click here.
What is Equalizer?
Equalizer — on the basis of having the mainstream functions of DEX, we added major innovations that maximize value capturing of governance tokens with equal and self-adjusting token distribution. The supply of liquidity mining rewards has grown more slowly, and a back and burn mechanism has been added. Trading pairs can be added freely, and the governance token will be distributed intelligently by the activities, without subjective distributions by any person. The trading fee ratio is initially set at 0.3%, of which 0.15% will be allocated to LP, and 0.15% will be used to buy back EQL and burn. Users can burn EQL directly to make a specific trading pair obtain more EQL in the next round.
What is EQL?
EQL is the governance token of Equalizer, which is used for decentralized governance of future projects and asset liquidity incentives.
The trading fee ratio is initially set at 0.3%, of which 0.15% will be allocated to LP, and 0.15% will be used to buy back EQL and burn. When the daily buyback amount is greater than the new daily-generated EQL amount, the entire system will become a deflationary mode.
Self-adjusted Governance Token Distribution Mechanism
Equalizer’s system adopts a unique liquidity mining mechanism, in which governance tokens will be distributed intelligently by the trading volume. The system will adjust the weight of each trading pair on the EQL liquidity mining pool automatically every 6 hours (the frequency can be adjusted by community voting later). Anyone can add new trading pairs at any time, and the trading pair will be allocated the weight of EQL for its trading volume. The new weight is related to the amount of EQL buyback and burn by each trading pair. The greater the number of EQL buyback and burned, the higher the weight of the trading pair on EQL liquidity mining pool, i.e., the more active the trading pair is, the more rewards it can get, forming a positive feedback mechanism. In addition, users can also burn EQL directly to increase the weight of a specific trading pair on the liquidity mining pool, so that the specific trading pair can have the chance to gain more EQL in the next round.
In order to better encourage early liquidity providers, and have enough tokens to incentivize the long-term development of the ecosystem at the same time, we have developed a quasi-fixed-supply (QFS) distribution model. This model will halve the emissions after each production cycle (a.k.a., epoch), and the new epoch time will be twice as long as the previous epoch. 200,000 EQLs will be mined in the first 3 days, and then 200,000 EQLs will be mined in the following 7 days, and then 200,000 EQLs will be mined in the following 14 days, and so on.
Initial trading pairs and weights (in the units of EQL) are listed as follows:
ETH-EQL (3x), 3000 EQL
ETH-UNI, 1000 EQL
ETH-SNX, 1000 EQL
ETH-QKC, 1000 EQL
ETH-YFI, 1000 EQL
ETH-USDT, 1000 EQL
ETH-LINK, 1000 EQL
ETH-LEND, 1000 EQL
ETH-EQL trading pair will have 3x liquidity mining reward compared with other trading pairs. The weights will be automatically adjusted for every 8 hours.
Smart Contract Address:
We have implemented 3 versions of smart contracts in total:
- Solidity Version (optimized version for smart contracts)
- Python Version I: based on Solidity (optimized version for smart contracts)
- Python Version II: unoptimized algorithm version
We generate a huge amount of user trading data randomly, and feed them into Version 2 and Version 3, respectively, to ensure a consistent result in both versions. This ensures the accuracy of the optimized algorithm.
To protect our users’ privacy and security, Equalizer has undergone a fully smart contract security audit by NCC Group in September 2020. Any findings have been addressed prior to release. We thank NCC’s Cryptography Services group for auditing the code.