Implement triple farming incentives for the VIPER/ADA pool

This proposal uses the proposed template for request: We want to open a MIN Farm!

1. Please describe your project. What is it doing to improve Cardano?

VIPER is a Memecoin launched on Cardano. At its heart, VIPER is not just a token; it’s a community-driven movement aiming to onboard new users to the Cardano ecosystem by encompassing everything web3 has to offer. VIPER is the second snake from the same Magic Kong’s NFT collection alongside SNEK.

Alongside our Memcoin, we have developed the ViperSwap app—an all-in-one platform facilitating seamless onboarding through bridging and trading functionalities. Additionally, our liquid staking platform provides a secure and rewarding way for our community to stake $VIPER. We have also created a real-world product in our Viper Hot Sauce, embodying our commitment to innovation and community empowerment.

2. What does the Token do? How many holders does it currently have?

The token is a Memecoin based off one of the traits from the Magic Kongs collection.

VIPER token (POLICY ID: caff93803e51c7b97bf79146790bfa3feb0d0b856ef16113b391b997)

Total Supply: 76,715,880,000
Total Holders: 586

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 an incentive as well? If yes, how much?

Since its launch at the beginning of January 2024, VIPER has achieved a trading volume of over 6.75 million ADA on Minswap alone.

We are seeking a MIN Farm on Minswap for several reasons, all of which align with the interests of the Minswap community and the broader Cardano ecosystem, such as increased trading volume, attracting new users and building synergies. VIPER brings a dedicated community of Cardano enthusiasts who will actively participate in the farming process. This not only increases Minswap’s user base but also introduces new users to the platform, creating a network effect that benefits all stakeholders.

VIPER plans to commit 2% of the total supply (1,534,317,600 tokens) to be distributed as rewards. These tokens will be vested over a period of 1 year.

4. How much of your token’s circulating supply is available? Please inform us briefly about your tokenomics, including the distribution and vesting schedule of the token (investors, team, yield farming, etc.)

The current circulating supply is 83.5% of the total 76.1bn VIPER tokens.

As of March 10th 2024, 100% of tokens will be in circulation after our third and final airdrop.

The team development wallet currently holds 9.54% of the total supply, which will be used to incentivize things like farming, in this example.

Our tokenomics match exactly that of SNEK - you can see the breakdown below:

1.5. Is your Project audited? By whom?

At the time of writing we have not received any formal security audits.

We are excited about the opportunity to collaborate with Minswap and look forward to bringing added value to the Cardano DeFi space.

Thank you for considering our proposal. We welcome any questions or feedback from the community and the Minswap team.

Should VIPER have a MIN Farm?

  • Yes, in favor
  • No, do not add this Farm
0 voters