Base chain is growing rapidly, with over 295M TVL and 55,000 daily active users.
The launch of @citadelswap might boost Base's momentum even more.
A thread on Why Citadel is the next big thing on Base👇
1️⃣ Why Base potential?
▪️ The Base ecosystem is poised to gain significant growth and dominate Layer2 due to the incubation of Coinbase.
▪️ Coinbase has 110M users and $130B in assets, with these numbers growing. Base chain will be used to store and trade these assets.
▪️ Recently, Coinbase has gained clearance to provide perpetual BTC futures trading globally, creating more opportunity for Base chain.
twitter.com/Cointelegraph/status/1719703767120052597
▪️ Since the Base chain launched on 9 August, the TVL on its chain has significantly surged 600% by growth rate.
▪️ Atm, Base holds $579M TVL, attracting over 160 protocols building on the chain.
▪️ Aiming to become the all-in-one DeFi protocol, @citadelswap, a liquidity hub on Base, offers unique solutions that distinguish it from other protocols on Base.
2️⃣ Citadel - liquidity hub on Base
[1] The current problem with other DEXs on Base
▪️ A common problem for every DEX is how to deepen liquidity in pools to reduce price impact when users make swap transactions.
▪️ Most of these DEXs incentivize liquidity provision using their native token, which leads to inflation in their tokenomics.
▪️ As a result, their native token often dies out in a short period of time.
[2] Citadel’s solution
▪️ Citadel has implemented a dual token model powered by $FORT and $esFORT to address this issue.
▪️ esFORT is an escrowed token, acquired by staking $FORT - the native token of Citadel.
▪️ Yield farming rewards for LPs will be distributed in esFORT/FORT at an 80/20% ratio.
▪️ The 80% of esFORT rewarded is non-tradable and can only be vested by staking them for a duration of 15 - 90 days (1 esFORT = 0.5 - 1 FORT).
▪️ This will ease short-term selling pressure, maintaining the protocol’s economic health.
3️⃣ Revenue stream
▪️ Citadel has designed a robust revenue model that benefits long-term token holders by sharing 25% of revenue with esFORT stakers.
▪️ These dividends are distributed continuously, through weekly epochs.
[1] DEX swap fees:
▪️ 0.15% rewards LP providers
▪️ 0.0625% dividends for $esFORT stakers
▪️ 0.025% buy back and burn $FORT
▪️ 0.0125% development
[2] 1% Raised Funds from Launchpad launches:
▪️ 1% goes to treasury to buy back and burn $FORT tokens.
4️⃣ Upcoming launch
▪️ Citadel token $FORT is set to launch very soon this month after the protocol teamed up with many OG DeFi protocols to enhance user experiences.
▪️ These partnerships include: @rhinofi, @overnight_fi, @xyfinance, and @SolidProof_io for AMM contract audits.
🔵 Citadel has officially announced $FORT Private Sale
▪️ Citadel Launchpad: app.citadelswap.xyz/public-launch
▪️ Sale Method: FCFS
▪️ Time: 15/11 - 16/11/2023
▪️ Hardcap: 60 ETH ( 3.000.000 $FORT; 3% of Total Supply )
▪️ Vesting: 75% $FORT; 25% esFORT
→ $FORT Price: 0.000198 ETH
🔵 More details about their $FORT Private Sale, you can find at the links below or Medium article at medium.com/@CitadelSwap/citadels-public-sale-official-announcement-ee50013c97b5
twitter.com/citadelswap/status/1720380707862634783
📌 Follow their social media to catch the latest updates.
Twitter: twitter.com/citadelswap
Discord: discord.com/invite/citadelswap
Telegram: t.me/citadelswapnew
And that's it!
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Tanaka
@Tanaka_L2
Contributor at @hashflow | Ambassador: @ton_blockchain , @Mantle_Official, @arbitrum Founder of @Kollab3dotcom TG: t.me/Tanaka_L2
