Tokenomics Presentation

Bakers, we have some tasty news for you!

We have completed a brief presentation containing answers to some pressing questions along with details regarding our projected tokenomics structure. We designed the presentation with the intention to make everything transparent and easy to understand, but you may not agree with everything we have planned or perhaps you may have something valuable to add to the conversation.

Please feel free to provide your thoughts and opinions in this thread and we may adjust as requested, depending on our best judgement for what is best for the community as a whole.

Presentation: EasyBake Keynote Presentation

Retweet: April Wrap-Up(date) Tweet

Medium: April Wrap-Up(date) Article

Warm Regards,
Chef Buns

10 Likes

Nice simple tokenomics. Premine seems reasonable. About 11,800,000 tokens. (8.85M presale/seed and 2.95M Unilayer airdrop.)

Curious to know the details of each!
I think it’s time to have our seed round. What will be the breakdown of the 75% for sales? Seed vs private?
Will we have a public sale?
How much $ will we raise in total?

How will the unilayer airdrop work? Same as Maki? Maybe put max cap per wallet?

80% of the block rewards going to liquidity providers is great. But wondering where do the staking rewards come from? Will it be a part of that 80%? What is breakdown between LP and staking rewards?

So nice to see Val and Lucas put themselves out there to build trust and confidence!

3 Likes

What a great presentation.

  1. The Premine being equivalent to 6 Months of block rewards sounds reasonable.
  2. The single asset staking sounds interesting. I would love to learn a bit more about this, and how it works.
  3. The Re: " ( v2 ) begins next week and will include liquidity and exchange components from our native exchange" , could you explain what is meant by liquidity from ‘our native exchange’? Is this not yet to be built?
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I am curious when you say 10 Tokens per block, based on what chain? I mean, how often are blocks produced?

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That is referring to Eth network. Currently producing a block every 13.11 seconds resulting in about 6590 blocks per day. Though this number can fluctuate with changes in hash rate it is kept in check by mining difficulty.
So in our case that would produce 65,590 tokens per day.( 52,472 LP rewards, 6559 dev team, 6559 treasury per day)

4 Likes

Nice presentation and fun to see who is being the screen.
Going to be critical here.
Why do you need extra dev tokens?
The dev team already gets the fees from swaps right? How much tax you will ask per trade? 0.30% 0.20%?
I never get why projects give themselves 10% of the coins and all the swap fees.
What happens to the fees? You share them with the community? :slight_smile:

25% of the initial tokens airdropped is a lot.

Another question how did you decide the tokenomics? Was there a vote somewhere that I missed? I thought the idea of the forum was to create community based decisions?

6 Likes

I share the same thoughts as Drfil.

10% of all mined tokens is a lot, it culminates to almost 2.5 million tokens a year. Why dont you reduce the private/seed sale + airdrop amount and allot yourself premined tokens? You can still stake them and sell the staking rewards for constant cashflow.

3 Likes

This. I think 25% is alot even with the high inflation rate.

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Single asset staking rewards will be designed similarly to Pancakeswap. You stake OVEN and are rewarded in another project’s tokens. For example, you stake OVEN and are reward LAYER in the LAYER pool.

The only pool (single asset staking) that rewards OVEN is the OVEN pool, which acts similar to the baking an LP token. It is written into the same contract and assigned OVEN instead of an LP address.

Each bakery (aka “farm”) includes a pool ID for each LP token and the OVEN single asset staking would be assigned PID (pool ID) 0.

The single asset staking pools (other than the one OVEN pool) are not rewarded in OVEN and therefore not provided with block rewards.

Hope that clears things up a bit for you all, but feel free to ask for further clarification. There will be documentation describing this in detail with diagrams to make it clearer.

4 Likes

We are currently using liquidity from Uniswap on testnet. We will be upgrading to our own liquidity in V2 of the exchange. This requires launching our very own exchange smart contracts.

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Great point. I did not want to complicate things, but what I plan to do is something no other project has done before (afaik). Which is to provide a reward based on time instead of blocks as block rate is specific to a chain, time is universal. This will be a fun experiment that will enable us to be truly cross-chain compatible without having to alter the contract’s block reward rate each time to account for variances in the rate at which each block is mined.

Currently, when someone withdraws, for example, the smart contract calculates the pending reward such that each block that has passed since the user’s deposit (or last withdrawal or claim) will be counted towards that user’s pending reward balance. Afterwards, the user’s pending balance is updated to 0 once one claims their rewards or withdraws.

4 Likes

Thanks for your input and for speaking candidly. That is welcome here.

The fee structure for the swaps has not yet been announced as we haven’t gotten into an in-depth discussion on the exchange component. This will be included in the slides around the end of our V2 exchange beta.

The purpose of this presentation is to provide a malleable path forward. There has been a lot of discussion involving the allocation of block rewards including a vote / survey. This information was used to draft the proposed block rewards, premine allocation, etc.

In other words, now is the time to vocalize any thoughts and opinions you may have, but we needed to put a plan in place for that discussion to have some more meat to it. Nothing presented is the end-all-be-all. Everything is subject to change and likely will be at least to some minor extent.

Next month we are getting ready to launch and this is kicking off that conversation so we may launch after we are comfortable with the tokenomics, platform execution, etc.

4 Likes

Great questions and I understand your concerns. This is why we have the forum to discuss such matters in detail, so thank you for your contributions.

As for the premine, since the team is incomplete and will not always be the same developers, any premined tokens would eventually be inadequate for team pay given inflation and farming tokens we do not own ourselves would rather dubious.

As such, since the ecosystem will require a team of developers to continually upgrade the platform, we will require a share of the emissions.

To be clear, “dev pay” does not merely cover payment for developers, but for all of our departments: blockchain, web dev, communications (marketing), and operations.

Each department will have an executive chef who receives 50% of their departmental allocation. Each non-executive chef receives a proportional share of the remaining 50%.

This will enable us to scale and employ a team dedicated to building whatever the community imagines without requiring us to ask the community for funds.

Additionally, this structure provides a level of consistency and sufficient coverage to adequately compensate the team. The treasury funds will belong entirely for the community and we want to ensure we never need to ask for community funds to hire on more builders. We also want investors to be aware of exactly how much the team is allocated at any given time.

Hope this clears things up a bit, but please feel free to inquire further.

6 Likes

Thanks for your input, I assume you are referring to 25% of premine allocated as an airdrop incentive. Is there a reason for this sentiment and perhaps an alternative solution you would like to propose?

I’d love to have a better intuition of your rationale prior to addressing your concerns.

Please feel free to speak candidly here.

3 Likes

The reason is just that this might cause the price to tank with such a big quantity. If we go that route perhaps we could incentivize airdrop holders to not dump their tokens right away with staking/farming incentives. Just my two cents.

3 Likes

Thanks for the clarification. Nicely coded.

I guess Sugar Bar is our version of pancakeswaps Syrup pool. So when staking Oven we would receive Sugar, which we can then stake in a sugar bar pool to earn tokens from another project who will participate in our pool.

How will we choose projects? What will the criteria be? Erc20 only or interchain possible too?

Pancake uses new projects on BSC, (the chain they operate on.) A new project will provide an amount of tokens to the pool. In exchange they get token distribution to large community and heightened exposure listing on pancake.

It will be great when we’re bootstrapping new polkadot and kusama projects.

We’re going to have a lot of fun staking and farming!(earning lots of oven and sugar)

5 Likes

I’m curious how these tokenomics compare to that of MakiSwap and what the team has learnt from how that project is evolving?

2 Likes

Exactly, if you give airdrop holders an opportunity for staking/farming, maybe layer/oven, that would be huge and very benefitial for everybody. Also as a LAYER dude I can say that 25% sounds really amazing and will make layer people come in big league into this project. :grin:

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Unilayer airdrop questions to consider:

Will there be a minimum amount of layer for a wallet to hold to qualify?

Will we employ a max cap per wallet?

Will there be a deadline to claim airdrop tokens?

What will happen to unclaimed airdrop tokens?
Go into treasury? Burn? Redistribute?

Looking forward to combining forces with a great community!:cupcake:

3 Likes

hi what’s the total supply information and where can I get it?