Community Update #11 - Unlock HBT 🔓
Payout of Liquidity Rewards and New Liquidity Options Ahead
Habitat Community Metrics 💚
≈ 1900 Twitter Followers
≈ 550 Email Subscribers
+ 800 Members in Telegram & Discord
+ 1500 $HBT Tokenholders
💧 Droplets Distribute HBT
Habitat is entering the next phase of its evolution. After 12 weeks of bootstrapping, HBT Tokens will unlock on a weekly basis. The HBT Tokens represent a voting-share within the rollup governance as well as the signaling module.
HBT token-holders govern the parameters of the rollup, as well as accept or reject funding proposals that help the ecosystem grow. Starting on the 09th of June 2021, HBT tokens will unlock every week on Wednesday and will have 2 hard-coded destinations:
Community Reserve on Habitat Rollup - only available after Mainnet Launch
Team Multisig on Ethereum Mainnet - HBT can be transferred
Both Contracts have already been deployed in March. The current drip progress can be tracked via Etherscan and in the Droplet Interfaces:
🏦 Community Reserve
begins: 09th June 2021 over a period of 200 weeks // ≈ 3.84 years
84,000,000 HBT // 420,000 HBT
per Week via Droplet to the community reserve on the rollup.
✨ Future Hire & Team
begins: 09th June 2021 over a period of 160 Weeks // ≈ 3.07 years
14,000,000 HBT // 87,500 HBT
per Week via Droplet to the Mainnet Team Multisig
🔋 Genesis Liquidity Rewards
Shortly after the initial launch and first distribution of HBT Tokens, the Habitat Community proposed and decided to run an LP Reward Program for the HBT-ETH Pair on Uniswap V2.
Genesis Liquidity Program
≈ 180.000 HBT for a period of 84 days
= 2143 HBT per day for HBT-ETH LPs
With the first program concluding on the 02nd June (today), LP's need to know how to get these hard-earned HBT into their wallet. Some key information has to be considered:
The Habitat Rollup is not released on Mainnet yet, which means the Community Reserve is not accessible to pay out HBT.
The Habitat Genesis Team will use funds from the Future Hire & Team Wallet to make the rewards available to LP's.
Rewarded Team HBT can be returned from Community Reserve to the team wallet upon mainnet launch and unlock of funds.
Check the Habitat LP page to see the final rewards and expected payouts.
A balanced payout over 6 weeks with liquid funds from Team Multi-Sig look like this:
Every week a fixed amount of 31.250 HBT becomes available to claim on Mainnet.
Habitat Genesis Team will pay out all Rewards manually each week.
Habitat pays out rewards with a max claim of 500 HBT in the first week. The rate climbs over the following weeks, until all rewards are paid out. This should benefit smaller holders and limits HBT dumping. Ideally LP’s simply add to their position, because….
🎁 Continue HBT Liquidity Rewards
In order to secure HBT Liquidity, a new Liquidity Mining Program needs to start shortly after concluding the first offering. To bridge the time until release and let HBT stay liquid, we will inject another temporary HBT Rewards Program:
HBT-ETH Liquidity on Uniswap V2 will be further rewarded.
5000 HBT will be allocated to Liquidity Providers each week
Reward Distribution will happen retrospective on the Rollup.
After Mainnet Options
2: stay on Uniswap v2 - new HBT Mining proposal needed 👀 👇🏼
3: migrate to Uniswap v3 and use “max range” liquidity
With Community Funds unlocking, more proposals about the full extent of the LP program have to be defined by team and community. Simultaneous LP programs are possible if these are set up correctly and with the right balance of reward and inflation.
Once defined and agreed on, future LP Rewards concluding after Mainnet launch should be paid out on the Rollup. With Community Reserve available, HBT can have its most utility on the Habitat Rollup itself after users claim it and either stake, vote or transact with HBT.
🌞 Thank you for staying close to our journey, Habitat is hyped to release sSsoon!