Bunicorn is a Defi platform powered by BSC that allows generic AMM pools with a variable amount of tokens and weights. It has increased the size of stablecoin pools while reducing slippage and improving liquidity. It has launched a new yield farming concept that includes a vesting reward wrapped in NFTs.
Table of Contents
Introduction
Bunicorn is a decentralized exchange (DEX) on the Binance Smart Chain (BSC) network that provides investors with yield-earning options via liquidity pools and liquidity farm mining, as well as time-locked incentives wrapped within tradable NFTs.
The automated market maker (AMM) protocol has created liquidity pools to decrease risks and improve capital inefficiencies that are common in popular AMM models such as Uniswap and PancakeSwap. Through a single seamless interface, two very capital efficient liquidity pool types are available:
- Flexible pools with up to 8 tokens, any weight
- Stable pools with super low slippage & high capital efficiency for stablecoins
- Bootstrapping Liquidity Pools
- Intelligent order routing that automatically distributes your swap among many pools at the best pricing.
- Fees that are dynamically modified based on the underlying volatility.
- With a single asset, liquidity providers may also join multi-token pools.
- New and creative yield farming model vests earn rewards and wrap them in NFT collectibles.
Bunicorn also provides high APY liquidity mining farms with a new NFT reward vesting methodology to prevent price depreciation caused by liquidity providers instantly selling off rewards.
Bunicorn introduces Liquidity Bootstrapping Pools on BSC
Bunicorn is one of the first to apply the Liquidity Bootstrapping Pools concept to Binance Smart Chain, providing token teams with a better option for distributing their bep20 tokens to the community upon launch. Balancer on Ethereum pioneered this method of distributing a token while establishing deep liquidity.
Why Liquidity Bootstrapping?
Exchange listing costs are pricey, and paying market makers may be much more so. Bancor and Uniswap democratized the token offering process by introducing the permissionless autonomous market-maker (AMM), which is executed on-chain by a smart contract and supported by liquidity mining to incentivise investors to contribute liquidity to a new token pool.
When an Initial Dex Offering (IDO) is conducted on an AMMs-based DEX, bots front-run acquire a large number of tokens at the start of the sales event, and the project’s token gains rapid liquidity, which might boost the token price. The act addresses the issue of liquidity; nevertheless, it raises concerns about the equitable distribution of tokens among investors.
The Liquidity Bootstrapping Pool is currently the most appealing and efficient solution for addressing all of the remaining concerns raised above. LBP is a form of liquidity pool that modifies pool weights over time to keep the price under continual downward pressure. It lets teams launch a project token with great capital efficiency while also establishing deep liquidity and removing concerns about unfair token distribution.
Liquidity Bootstrapping
LBP is ideal for distributing new tokens for two reasons
- Capital Efficiency: In the preceding scenario, just a modest quantity of the second asset (BNB) is required at first.
- Fair Distribution: owing to a technique specific to LBP — combating both front-running. The price of the asset inside an LBP will begin high and progressively decline over time. If a bot receives a token as soon as the pool becomes live, the price of Bunicorn will quickly fall, retaining less value than the bot’s purchase price following the weight shift.
Buni NFT
Wrapped NFTs
Bunicorn mitigates the dangers of token price depreciation by encasing farming incentives in wrapped NFTs and removing them from circulation. These NFTs continue to give value to liquidity miners, providing trading possibilities.
To encourage liquidity miners to keep their tokens, we have created a one-of-a-kind product that combines farming incentives (VBUNI) with a time-locked NFT. Each NFT has a vesting time, for example, one month. When the vesting period is over, VBUNI tokens can be exchanged into BUNI tokens. Tokens are isolated from the liquidable supply for a period of time via these convertible NFTs.
Bunicorn rates the rarity of VBUNI NFT collectibles based on the quantity of underlying assets wrapped in that token and the vesting time. The following list should be used as a guideline for how far a card may level:
- Normal
- High Normal
- Rare
- High Rare
- Super Rare
- Legend
How to own Buni NFT?
Bunicorn NFT can only be obtained through their yield farms. There are now two types of farming pools in which users may join and earn NFT:
- Earn BUNI by staking BUNI in their first BUNI pool. As additional token teams are added to the platform, you will be able to stake BUNI to earn more types of tokens in the future.
- Earn BUNI by staking BPT (Buni Pool Token). BPT is the result of providing liquidity to an AMM pool.
Selling NFTs
The NFT with time-locked tokens functions similarly to a bond. It has speculative value and can be sold on the secondary market at a discount before the vesting period expires. Holders can, in other words, trade and auction these NFTs in other markets, making them liquid.
NFT Marketplace
They are developing their own NFT marketplace so that consumers may sell and auction their time-locked BUNI NFTs. Users will also be able to acquire and improve (level up) their cards by fusing lower-level cards.
This marketplace will also include seasoned marketing campaigns, gaming events/gacha, and the release of new custom-made card packs.
Social Links:
Website: https://buni.finance
Deck: https://docsend.com/view/5yiyfdyaruuiuuyg
Onepager: https://docsend.com/view/trf4ufqcrh4wm73j
BETA ALREADY AVAILABLE – https://staging.buni.finance/#/trade/tokens
WhitePaper: https://buni.finance/BunicornWhitepaper.pdf
Docs: https://docs.buni.finance/
Blog: https://blog.buni.finance/
Twitter: https://twitter.com/bunicornswap
Telegram Group: https://t.me/bunicornswap_en
