With Binance Smart Chain on the brink of launching on mainnet and the ever-increasing gas costs on Ethereum, a group of motivated Binance community members saw the opportunity to develop a platform that takes advantage of the opportunities provided by the faster and cheaper EVM chain. An extensive DeFi platform for the community with equal access and participation by all.
Core points Spartan Protocol was built on:
- The project is built, maintained and governed by the community
- Fair launch - existing assets destroyed to acquire $SPARTA through a process referred to as Proof-of-Burn
- Binance Chain communities selected to participate - drive forward BSC adoption and education
- The Protocol starts as decentralised as possible, with further decentralisation as the project matures
- The Protocol strives towards full automation, with any ongoing maintenance enacted by the community DAO
Spartan Protocol combined some new and fresh ideas with many varied and popular aspects of the DeFi landscape to utilise the best parts of great protocols such as:
- Thorchain ($RUNE)
- Bancor ($BNT)
- UniSwap ($UNI)
- Vader Protocol ($VADER)
Spartan Protocol is a custom-built AMM, not the usual UniSwap copy-paste clone. Our code has been built by the community from the ground up (not a fork) with inherently unique liquidity pool features such as:
Liquidity sensitive fees (No fixed fee, trends to zero with increased liquidity)
Common settlement asset ($SPARTA, acting as a global price anchor)
Liquidity Pools
Spartans can provide liquidity to the pools to earn the revenue generated by the pool along with any extra dividends and incentives. Assets provided as liquidity will fluctuate with the prices of the underlying assets in the pools and you may end up with less of one asset, but more of the other as your position is balanced resulting in something similar to an automated DCA-in, DCA-out trading strategy with revenue yield on top.
Swap / Trade
This unique liquidity model allows Spartan Protocol's pools to be very capital efficient, trending towards providing the cheapest routes for anyone swapping tokens on BSC. Being a protocol, the contracts are open to be plugged into aggregators and DApps all over the ecosystem, continuing to open up cheap and fast paths to swap between BSC assets.
Synthetic Assets
As the pools get deeper, they allow users to forge special synthetic versions of the underlying assets (Synths). Synths allow you to earn yield on an otherwise stagnant assets in varied market conditions.
Stake Tokens
Staking is when you send your assets to a special contract and put it to work earning you extra yield. Liquidity providers can stake their LP tokens in the DaoVault to earn extra SPARTA yield on top of the LP token revenue. Synth holders can stake their Synth tokens in the SynthVault to earn SPARTA or compounding Synth yield too.
DAO Governance
A decentralized autonomous organization (DAO) governs many of the variables and aspects of the protocol on-chain and in an automated fashion. As a liquidity provider you have open freedom to propose a change and vote to have it enacted in a censorship-resistant manner.
The SPARTA token
The SPARTA token is essential to the protocol. It acts as the settlement asset for every pool meaning that all pools are paired with SPARTA. This in turn has the token acting as the essential element in the protocol's decentralised oracle. The price of any listed token can be derived from it's pooled ratio with SPARTA without the dependence on any external oracle.
Token Distribution
One of the biggest statements of Spartan Protocol is its fair launch. The community who formed the idea of the protocol was sick of the scams, rug-pulls and general degen, scummy greedy behaviour going on in the DeFi world. So they created a plan to launch the token without all the bizarre rent seeking aspects found all over the DeFi world. Flip the whole thing on its head, making most of the common scam behaviour not even possible with:
- No Airdrops
- No token sale
- No private sale
- No team allocation
- No treasury allocation
- Only: 100% community allocation
- With no 'team' allocation, there is no rug to pull!
Every new SPARTA token can only be obtained through Proof-of-Burn, liquidity incentives or the Bond program.
