StarSwap, the native Dex of Astar Network with NFT Governance launches with a fair, community driven liquidity generation event, the only protocol in Astar Network that uses such a transparent system to launch.
Transparency and fair launches positively impact users’ trust, purchase intent, and general attitude within a target community. While most DeFi teams who launch with ICO/IDO concepts take most of the invested funds if not all to themselves, StarSwap introduces a community driven system to launch.
A Liquidity Generation Event (LGE) is an innovative launch mechanism that ensures plenty of early liquidity, and a free and fair participation process. It is 100% community oriented, and the entire funds acquired are used to seed the initial liquidity. LGE participants will be able to get a fair price gain to reward their early support.
The Star Swap team has a few strategies in place to preserve the price and community sentiment to hold:
- Platform fee distribution: StarCards NFT holders will need to acquire a good amount of Star tokens in order to get maximum benefits (the fee distribution is calculated based on 3 factors; the number of Star Cards + The rarity + The number STAR tokens).
- TAX system: The platform has a tax system that encourages users to hold instead of dumping. The longer users hold, the lower the tax becomes. At the same time, the system allows users to harvest in case they really need it, with a tax cut.
- Treasury: StarSwap is building a treasury which intends to provide a buyback price guarantee for STAR token holders
The liquidity generation event of StarSwap started this Monday and ends on the 7th of July at 7 am UTC. The DEX goes live at the same time at 7am UTC on the 7th. StarSwap is the only DEX on the entire DeFi space with NFT governance and 100% of the platform fee is distributed to the community.
More details about the platform can be found at https://starswap.net