What Is Spartanprotocol?
The Spartanprotocol is intended to provide incentives for deep capital formation in liquidity pools with safe and sustainable creation of synthetic assets. It claims to be the first major liquidity project on the Binance Smart Chain (BSC), which was chosen thanks to its near-instantaneous settlements and low gas fees. The Spartan Protocol is a liquidity protocol for asset exchange and synthetic asset generation on the BSC; its foundation are the liquidity pools, similarly to Uniswap. Instead of a fixed-rate fee model, it uses a liquidity-sensitive fee model. The Spartan Protocol uses elements of other well-established projects to create a platform that runs on the BSC instead of the Ethereum (ETH) network.
Spartan Protocol provides community-governed and programmable token emissions functions to incentivize the formation of deep liquidity pools. This strong base of liquidity will be utilized to provide asset swaps, synthetic token generation, lending, derivatives and more. The common base asset SPARTA provides an internal pricing mechanism without reliance on external oracles. Binance Smart Chain was chosen as the protocol’s home to allow for near-instant settlement and extremely low gas fees.
Spartanprotocol Storage Key Points
|Circulating Supply||37,401,757.54 SPARTA|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
How It Works
Spartanprotocol Coin In order to create a synthetic asset on the Spartan Protocol, users need to first hold (or purchase) SPARTA tokens. With these tokens, users can interact with the Synth Contract. This SPARTA is then added as an asymmetric-liquidity-add to the relevant pool. These LP tokens are then held at the SynthFactory; which handles the minting of synthetic assets. Synths can be enabled for the creation of any asset enabled by the DAO. As communicated above, the protocol first enables this with the assets that have the deepest liquidity pools.
Synths mimic the value of the created asset (i.e., BNB). The value of locked SPARTA needs to remain at or above a certain threshold of the synths created. This is automatically calculated, the exact threshold has yet to be communicated. However, the collateral position percentages can be tighter on Spartan Protocol than typical implementations due to the internal pricing mechanism and BSC’s fast transaction times.
By creating these synthetic assets, users basically enter a long or short position of the created asset. The LP tokens (and underlying base assets) acts as collateral, whereas the minted assets act as debt. If the value of the locked SPARTA tokens increases, the protocol automatically releases part of the locked tokens. This liquidity can then be used to create more assets again, if wished, to further increase the position.
Spartan Liquidity Pools
Spartanprotocol the beating heart of the Spartan Protocol is its incentivised liquidity pools, driving on-market capital formation. The liquidity pools are facilitated by an automatic-market-maker (AMM) algorithm with liquidity-sensitive fees. Liquidity-sensitive fees ensure the system can sense correct token purchasing power at all times, allowing scalable and risk-tolerant growth. Spartans are advised to remove and upgrade their V1 LP in preparation for V2 Pools Launch.
Spartan Synthetic Assets
The Spartan Protocol allows the generation of synthetic assets, using price anchors offered by its own liquidity pools, collateralised by liquidity pool shares. Liquidity pool shares are on-market, value-stabilised and can be instantly liquidated. Liquidity-sensitive fees ensure positions taken up will scale with the depth of available liquidity, preventing deleveraging spirals common to other DeFi systems.
Spartanprotocol Coin synthetic token minters are short the value of the token, and long the value of their collateral. By winding up their position, they can achieve leverage. The opposite is also true for those wishing to leverage long a token. Lending is possible using a system of fees and collateralised debt. Liquidations of unhealthy positions are done instantly via liquidity pools, ensuring the system is always safe.
Programmable incentives emitted for participation
Spartanprotocol a programmable incentive token with multiple incentive streams
Max initial supply of 100 million distributed via Proof-of-Burn & Bond+Mint
Daily liquidity incentives beginning at 30% APY reducing over 10 years
Fixed maximum total SPARTA token supply of 300 million.
Binance Smart Chain
Spartanprotocol Coin A faster, cheaper ecosystem for Decentralised Finance
Spartan Protocol is Built for Binance Smart Chain. Do not acquire $SPARTA if you do not subscribe to this direction.
Proof of Stake Blockchain
BSC is an EVM-compatible delegated-PoS blockchain, with fast (3-sec) block-times and sufficient decentralisation.
BEP-20 & ERC-20
Spartanprotocol BEP-2 and BEP-20 token community is second only to the ERC-20 community, and all can be linked to BSC.
Decentralised Finance can be high risk – high reward. Make sure to DYOR before investing.