Launch: adena.finance

Name of Project

Adena Finance

Proposal overview

Our mission is to provide a comprehensive and convenient, one-stop platform for the cryptocurrency community.

We are launching on 17 October with the following features:

Decentralized exchange

Trade directly from your wallet, rather than trading through a third party – tokens never leaving your custody means it is 100% owned by you. .

Liquidity Pools

Liquidity pools are place to pool tokens so that users can use them to make trades in a decentralized way and get ADENA-LP which can be used for farming.

Yield farming

Yield farming is a process in which token holders can stake their tokens in pools in order to generate $ADENA tokens as a reward.

Vaults

Adena Vault is a set of high incentivized pools. Long-term supporters can choose to lock ADENA for a determined period for higher rewards. The participants receive various benefits such as higher rewards according to lock duration, higher allocations in Adena Launchpad, and more.

– In progress–

Token Locker

Input your token or liquidity pair address, amount of tokens to lock, withdrawer address, and when tokens will become unlocked.

Faucet

We want to provide a small amount of $ONE for users that used the bridge to start using Adena.finance without having to buy $ONE somewhere else.

This function will attract more users from other chains to bridge their tokens to the Harmony network!

We will need help from your team to provide integration from Harmony ONE-ETH Bridge so we can set up bridging on our interface, validate requests and then provide users $ONE to initiate their first transactions on the Harmony network.

Launchpad

Launchpad will be a platform to curate and kickstart projects on the Harmony network, while also serving as a major burning mechanism for Adena ecosystem

Proposal Ask

We are applying for the standard launch grant, which will be used for all-in marketing: hiring graphic designers, copywriters, community managers, and for running advertisements.

Metrics for success

  • 10,000,000$+ TVL
  • Launching Token Locker, Faucet & Launchpad
  • Becoming leading one-stop platform on the network

External links

Platform: https://adena.finance/
Documentation: https://docs.adena.finance/
Twitter: https://twitter.com/adenafinance
Discord: https://discord.com/invite/BnRWUHp9aG
Telegram: https://t.me/adenafinance

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What is the USP ? How is it is different from the other DEXs? Lot of forks are struggling hard even to reach 1Mil. Won’t the users get bored of the forks ?

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Hey, thanks for reaching out!

Let’s talk more about ADENA, our vision, and our plans.

We want to introduce community control mechanisms and DeFi features into the platform and become a one-stop platform on the network.

Why choose ADENA over other DEXes

  • 1) Improved design

As a fork of sushi our design is improved and more user-friendly.

  • 2) Constant emission model

The token distribution follows a fixed supply, constant emission model, with burning
mechanisms.

  • 3) Ability to improve

On the network, you will mostly see viper and goose forks.

Once their token ownership is renounced (ownership of token is transferred to Masterchef) they won’t be able to use the governance token functions unless the caller is the owner (MasterChef).

Viper has included token reclaim function in the MasterChef contract, which can be considered a bad experience. Because once token ownership is reclaimed it will cause MasterChef outage.

Our contracts Adena Vault and Adena Distributor use minter roles from the governance token.

That means in the future, we can easily integrate the token with other products (e.g. lending, borrowing, synthetic assets)

  • 4) Adena Vault

Adena Vault is a set of high incentivized pools. Long-term supporters can choose to lock ADENA for a determined period for higher rewards.
The participants receive various benefits such as higher rewards according to lock duration, higher allocations in Adena Launchpad, and more.

  • 5) Long term

With the current emission rate (36000 Adena Minted a day) and with the 1,000,000,000 Max supply there are approx 912 months to emit.

  • 6) Fair Launch

There are no pre-sales, private sales, or pre-listing allocations of the ADENA token.

Token Locker, Faucet & Launchpad is coming very soon!

Read more about tokenomics.

1 Like

I don’t personally agree with the value proposition here, may be I would appreciate if you could bring together other features like NFT, games, money market etc. Anyways let others have their opinion as well.

Of course! As we are trying to become a one-stop platform for the crypto community, it will include NFT and maybe gaming in the future.

You asked why choose Adena vs other dexes, I just stated my opinion.I support their work and cheer for them, they are doing a great job for the Harmony ecosystem.

We have high hopes for Adena and are excited to see our tokenomics live! We hope we make our users happy and bring more users to the Harmony blockchain!

Thanks for your feedback!

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We’ve got Artemis Protocol, Defi Kingdoms, Openswap Exchange, piky porky something, sushiswap, dont we have enough decentralized exchanges? Better to have a few and let them florish rather so many that have to struggle. Besides another Dex won’t attract more mass adaption. Imo.

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I was waiting for months and am still waiting for a DEX on Harmony that is simply this: a normal DEX.
To attract a decent amount of liquidity, a DEX needs the following features:

  1. No deposit fees for LP’s
  2. No withdrawal fees for LP’s
  3. No high amount of locked tokens from rewards (Sooner or later the token will die, we have yet to see the solution of DefiKingdoms for this)
  4. Smart Liquidity Pool management:
    a) Focusing on the important liquidity pools
    b) Having a good reward allocation to sustain the liquidity in the long run

DEX’s that violate (1.) and (2.) can not be used for: Autocompounders and Leveraged Yield Farming. DEX’s that violate (3.) are also not suited for Autocompounders and Leveraged Yield Farming.

(3.) also negatively impacts the longterm sustainability of a DEX. When the locked rewards unlock, the token price is negatively impacted and the amount of rewards that are left to be distributed are in general no longer sufficient to sustain a decent Liquidity for the platform.

Let’s have a look at the current DEX’s on Harmony:

  1. Defi Kingdoms and Viper Swap both have withdrawal fees for LP’s and vested rewards. It’s very probable that Viper Swap is ngmi medium-/longterm. Defi Kingdoms with it’s unique gamification concept has a better outlook. But the locked rewards and the withdrawal fees are problematic.

  2. Mochiswap and Openswap have very low Liquidity of just ~$2m. To sustain a much higher liquidity, both would need a marketcap to liquidity ratio in the magnitude of $CAKE. This is unlikely to happen.

  3. Sushiswap is great, but can not further support the growth of Harmony. The amount of Liquidity that Sushiswap can support is limited.

My conclusion is not, that Adena is “the” solution. But there is definitely a void that has yet to be filled, which - in my opinion - the current projects can’t.

2 Likes

Thanks for sharing your opinion!

Our goal is to provide an attractive, one-stop environment for crypto users, and as big supporters of the Harmony ecosystem, we are launching on Harmony with solid tokenomics, low fees and strong fundamentals.

How are you going to attract liquidity both in short term and long term ? Since older DEXs are struggling to maintain liquidity (peak and flatline growth) ! How is it different from the forked Sushi ? Both in code and features ? What is tokenomics and emission rate both for short and long-term ? How many are in the team ? Open source ? You could launch and apply for proposal as well right ?

1 Like

Thanks for the earlier response

Hello! @mohanarvindk!

1) How are you going to attract liquidity both in short term and long term?

We are going to attract liquidity providers with our solid tokenomis, low fees, and useful DeFi tools, as we already mentioned we have a goal to become a one-stop platform on the network.

2) How is it different from the forked Sushi? Both in code and features?

Our interface is based on sushi, you can check our tokenomics here and code on the github .

You can check our features on the interface and roadmap in our docs.
We have already launched Locker tool while Faucet is under development.

3) What is tokenomics and emission rate both for short and long-term ?

The token distribution follows a fixed supply, constant emission model, with burning mechanisms.
Please check the docs for more information about rates and token distribution

4) How many are in the team ?

We are a team of two devs, we are already recruiting and looking for a CM!

5) Open source ?

Yes, we are supporters of open source, our contracts are verified, you can check the code on the Harmony explorer & on the Github.

6) You could launch and apply for a proposal as well right ?

Yes, we already have a growing community and supporters, who are excited for the launch!

Let me know if you have any questions!

Thanks for your interest!

1 Like

76 years to fully emit the entire supply of ADENA , only 13m coins minted per year for LP , Team gets 100M
Low liquidity on launch , 14000 ADENA 500 ONE as initial liquidity for launch at 0.005$
everything is set up for a pump, Tokenomics is linear but 76 years? This project doesnt solve any value , no differentiation except the ridiculous10 tokenomics set up so that price will just keep pumping , Low launch liquidity = pump , Stake the $ADENA and $ONE = Pump , people buying $ADENA to stake but low liquidity = PUMP, feels like dev purposedly make 1B coin in circulation so that they can get 10% for PR and a nice bag of cash when the price rockets up,. its greedy. way too greedy

price will pump so high many people who FOMO will be stuck up there because they dont understand the tokenomics, i will feel bad for them

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Please stop the FUD and find 15min to read our tokenomics & roadmap https://docs.adena.finance/

Thanks!

i read all the docs that is why im saying this things, call it FUD but please try to rebuff what i said, all your replies about the same concern from other discord members have been vague and points people to look at the docs which doesnt explain anything. im not the only person who worries about such low liquidity

3 Likes

Hey, everyone !

It’s been only 10 hours since the launch!

Let’s sum it up!

Total Value Locked: $185.57 K
Vaults TVL: $66.16 K

ADENA = ~$1.20

24k Adena LP Locked in the locker

It was a successful launch, our tokenomics will guarantee the stability of the project!

Charts will be up soon with a marketing campaign!

Stay tuned and get blessed with this high APRs!

2 Likes