Token Wars: Ride to the Future of Finance!
Arise, arise, Riders of Messina!
Great tasks awake: innovation and collaboration!
Code has been written, smart contracts executed,
A day of unity, a day of triumph, before the blockchain glows!
Ride now, Ride now!
Ride to the Future of Finance!
Battle Plan.
Token Wars is approaching fast, and we’re sure you still have lots of questions. So let’s outline the most commonly asked questions, and give you the answers so you can determine your battle plan!
When does Token Wars start?
On Monday July 15th, from 11am EST, is the starting point.
From that moment onwards we will measure the DeFi metrics (specified below) and load the initial rewards to the farms for LP providers to earn bonus yield on Yield Yak (Avalanche) and CompX and PACT (Algorand).
When will Token Wars end?
On Monday July 29th, at 11am EST, the competition ends. This means the actual DeFi competition will last for 2 weeks, after which we make up the balance, announce the results, and load the winner’s rewards into the farms. The boosted farms will then last for another 2 weeks until August 12th.
How can a token win Token Wars?
Token Wars is about DeFi metrics and stimulating cross chain DeFi activity between communities and tokens previously isolated in their own ecosystems.
From the starting point of Token Wars, we measure DeFi numbers for each token in the following 3 categories.
- Bridge TVL: USD Value of each token bridged to the new ecosystem
- Liquidity Depth: TVL of each token on the new ecosystem in the identified liquidity pools.
- Trading Volume: USD Volume of each token traded against the native token on the new ecosystem.
In Week One, we measure the raw daily average.
In Week Two, we measure the growth daily average.
To make the competition more dynamic, we measure the DeFi numbers of week one and allocate points to the number 1, 2, and 3 in each metric. 3 points for the leader, 2 points for the runner up, and 1 point for the token coming in third. We do the same after the conclusion of week two, and the points combined create the leaderboard that determines the final results of Token Wars.
Week one is from July 15th until July 22nd, and week two is from July 22nd until July 29th.
We will publish the results after week 1, and then again publish the results after week 2 to crown the winners of Token Wars.
The model described above applies to 2 of the 3 Token Wars, the one on Avalanche with the $AVAX pairs, and the one on Algorand with the $ALGO pairs.
The $GOLD pair mechanics are explained further in this article.
What Liquidity Pools are eligible for Token Wars?
To ensure fair competition and clarity of the administration of the results and rewards, only 1 pool for each token is eligible for the competition and will be measured.
On Algorand, the following $ALGO pools are eligible for rewards and Token Wars:
$COQ: https://app.pact.fi/pool/2157564744?chart=Volume&period=D
$TD: https://app.pact.fi/pool/2155589291?chart=Volume&period=D
$KIMBO: https://app.pact.fi/pool/2155593034?chart=Volume&period=D
On Avalanche, the following $AVAX pools are eligible for rewards and Token Wars:
$COOP: https://traderjoexyz.com/avalanche/pool/v1/AVAX/0xcd59b3309a0a0cbd9955d7e2cd2e1dfc7e5436c3
$ORA: https://traderjoexyz.com/avalanche/pool/v1/AVAX/0x00a6E4B816Ee10b462a359664d17e70A07E2D24D
$NIKO: https://traderjoexyz.com/avalanche/pool/v1/0x1bbc0961c0a56f28c3827cddd06244bd7a3f077a/AVAX
$A200: https://traderjoexyz.com/avalanche/pool/v1/0xb2a7cba37552888cef808e88cdbebc72f91fd94f/AVAX
The eligible $GOLD liquidity pools on PACT will be announced in the next few days.
The Spoils of War.
Winners cover themselves in gold and glory while the losers mostly lick their wounds. Token Wars is about collaboration and collective community growth and stimulation. That’s nice and all … but what about the Spoils of War!?
How are rewards distributed?
The rewards are split in 2 categories.
Firstly, we have the kick-off rewards where each token is allocated an equal amount of rewards to get the competition going and appeal to the initial wave of users, stakers, traders, etc. This will boost the pools during the 2 weeks of competition.
Secondly, we have the Token Wars rewards for the winner, 2nd, 3rd, and even 4th place.
On Algorand, the farms are operated by our partner CompX in combination with the DEX partner PACT. On Avalanche, the farms are operated by our partner Yield Yak.
In both cases, you will be able to find the farms on the respective application platforms. Simply search for the token of your choice in the search field or use the links in this article.
All rewards are distributed in $ALGO (with the exception of the $GOLD competition) because Token Wars is an initiative funded by the Algorand Targeted DeFi Rewards program. That means we bridge $ALGO to Avalanche as $wALGO and yield on Yield Yak will be in wrapped ALGO. Farmers can bridge the wrapped ALGO back to Algorand with Messina, and claim their actual $ALGO rewards.
What is the reward schedule?
From July 15th the farms will be live and 40% of the total rewards are allocated to the farms equally. Distribution of these kick-off rewards will last until July 29th.
From July 29th until August 12th, the remaining 60% is allocated to the winners of Token Wars.
For the Algorand competition, the rewards for the number 1, 2, and 3 are 50%, 30%, 20%.
For the Avalanche competition, the rewards for the number 1, 2, 3, and 4 are 50%, 30%, 15%, and 5%.
Year of the Dragon: A Quest for Gold.
Gold has been the standard store of value and a currency for centuries and throughout history. Thanks to our partners, Meld Gold, you can start your own quest for gold during Token Wars and win unique RWA backed NFTs.
How can you earn GOLD rewards?
On Algorand (PACT DEX), there will be 3 $GOLD pairs created for $COQ, $KIMBO, and $TD, as listed earlier. These pools will be boosted with $ALGO rewards through the entire 4 week period of Token Wars. But, at the end of the 4 week period the top LP providers will be able to claim special $GOLD and $SILVER backed NFTs from the Meld Gold platform. These NFTs have been uniquely designed with privy marks made only for Token Wars.
The reward distribution is as follows:
The pair placings are determined by the average daily pool TVL from July 15th to Aug 12th.
1st Place Pairing:
Top 5 LP’s receive 1/10oz Gold.
Next 25 LP’s receive 1oz Silver.
2nd Place Pairing:
Top 3 LP’s receive 1/10oz Gold.
Next 15 LP’s receive 1oz Silver.
3rd Place Pairing:
Top 2 LP’s receive 1/10oz Gold.
Next 10 LP’s receive 1oz Silver.
How are the pool placings and top LPs determined?
For both pool placings and LP rankings, daily TVL snapshots are taken for the 4 week top period capturing each pools TVL and each LPs position.
At the end of the 4 weeks, each of the pools average TVL is calculated to determine 1st, 2nd and 3rd place and likewise for the LPs with their average LP position for period calculated, and then ranked to determine who will receive the coveted Year of the Dragon NFTs backed with $GOLD and $SILVER.
CompX Bonus.
Any LPs utilising CompX to compound their liquidity in the eligible pools will also receive a 25% bonus weighting to maximise their ranking. The 25% bonus starts 1 week into the competition on July 22nd.
This is a unique addition to Token Wars and adds another great incentive to participate.
You can find more details about Meld Gold on this link and stay tuned for more information about the exact claiming method and instructions for the winners of the NFT coins.
For more information about Token Wars, check our other blog posts below, and make sure to follow our social media channels.
Token Wars: A portal to new communities
Building Bridges: Token Wars
About Messina
We dream of a future where information and value can be easily accessed anywhere. Messina uses the latest advancements in blockchain so Web3 users can get the best out of every ecosystem without compromise and navigate them seamlessly. Through a protocol that is simple and intuitive, we enable interoperability.
