This proposal uses the proposed template for request: We want to open a MIN Farm!
And the concept of Mouse Farm that was introduced here: Announcing Double Farms
Aada Finance is a lending and borrowing protocol that aims to bring innovation to the blockchain through its innovative NFT bond strategy. The feature introduces NFTs as proof-of-loan bonds, each lender-borrower pair with an individual policy. In turn, lenders and borrowers can freely transfer and trade their NFT bonds.
Each NFT bond is freely transferable and tradeable, which gives lenders and borrowers flexibility to send, receive, buy and sell loans. Another feature that Aada’s V1 app introduces is multi-asset loan customization. Thanks to its peer-to-peer nature, the alpha version of the app allows borrowers to choose different assets for loan, collateral, and interest.
AADA is the governance token for the Aada Finance DAO. Its primary utility is to allow community members to participate in the protocol’s decision-making process by submitting and voting on various proposals.
The AADA token will also be added as a collateral option in the V1 app. Other notable benefits to be introduced soon include Safety Module staking in V2 and partial transaction fee distribution.
At the time of writing, there were 4367 AADA holders. The number includes 755 who have staked AADA in the protocol’s 6-month and 12-month pools.
1.3. Why do you want a MIN Farm? How does the Minswap community benefit from offering a MIN Farm for your Token? Apart from the MIN Farm, will you add your own Token as incentives as well (Double Farm) If yes, how much?
The main reason to start Double Farm to Minswap is to provide substantial liquidity for our native token. That way, we will give our holders to utilize their AADA and earn more rewards. We also plan to add our DAO token as a collateral alternative to ADA by ensuring low price volatility through increased TVL.
Moreover, Aada Finance has already established a strong partnership bond with Minswap as one of the Liquidation Oracles in the V1 lending protocol. Also, MIN will be one of the tokens made available for lending and borrowing at the launch of our protocol. Bootstrapping a Double Farm incentive will further popularize our project among Minswap and Cardano community members.
We’d like to add 225,000 AADA to the AADA/ADA Farm at the launch of our V1 protocol. The incentives are to be distributed over 6 months.
1.4. How much circulating supply is there of your token? Please inform us briefly of your tokenomics, including the distribution and vesting schedule of the token (investors, team, yield farming, etc.)
AADA has a total token supply of 29,500,000. The current circulating supply is 5,616,220 AADA, with an additional 963,780 AADA staked on the Aada platform. You can find detailed information about the project’s tokenomics, distribution, and vesting schedule in our Aadanomics GitBook section.
The project is currently undergoing an external audit carried out by Vacuum Group.