This proposal uses the proposed template for request: We want to open a MIN Farm!
1.1 Please describe your project. What is it doing to improve Cardano?
$LOBSTER started as a meme token of the Cardano chain. After 2 constant years of additions and the creation of its’ own ecosystem considers itself a Royal meme token.
LOBSTER ecosystem consists of staking (one of the first, even the first token to introduce staking via NFTs), NFTS, Lucky slots with free daily spins for NFT holders, Minting and dev services as well as website creation services.
In addition, introduced HODLADA a financial defi game where $ADA holders compete with each other on who is diamond and who paper handed, rewarding them with real yield.
With constant memes and the guidance of KING LOGAN over the years, LOBSTER has established itself as an OG of the Cardano blockchain. From the LOBSTER ATM days where it pushed the chain limits creating the most sophisticated token dispenser finding the limit on how many recipients a TX can have, to the recent onboarding to Cardano teaching people how to use wallets, Cardano DEXes (Minswap) and delegate for the first time. The Royal Pools initiatives promote decentralization by supporting Single pool operators, you can’t stake your lobster without supporting our royal pools!
1.2 What does the Token do? How many holders does it currently have?
The LOBSTER ecosystem has been described above. The current LOBSTER holders are 34,361 making it one of the largest tokens by holders in the entire chain.
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? If yes, how much?
LOBSTER’s volume has been increasing exponentially with its interest. With the onboarding of new people as mentioned above Minswap will be the dex they learn and trust to use for their trades starting from LOBSTER. $MIN farm will add an extra reason besides the high at the moment of writing Fees APR for people to add liquidity to the LOBSTER/ADA pair. This will decrease volatility and protect investors from big price swings, making it easier for higher trading size therefore higher volume which benefits the dex itself together with the increase of the protocol’s TVL,
Lobster after over 2 years in existence has managed to fully distribute the token with over 97% circulating supply therefore we won’t be adding a LOBSTER farm as we have done last year.
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.)
LOBSTER had a total supply of 1,000,000,000 tokens.
As of right now after over 2 years of distribution
15,56% of the tokens have been burned (14,46% from the liquidity gathering event and 1,1% from DOTAR’s (pool ticker) LOBSTER burn initiative.
So the total amount of tokens is 844.41T tokens
97.3% of them are in the wallets of our holders
The rest are left for LOBSTER staking via NFTs and our Royal Pool initiative
1.5. Is your Project audited? By whom?
No security audit was created for LOBSTER. The policy is locked since 2021-12-15 21:27:34 UTC
*Do you agree LOBSTER should have a MIN farm?