Squid Stake builds on the oceanic ecosystem of AutoShark to help you stake more and earn more. They have officially announced their 2nd launchpad on 28 Oct, 1PM UTC.
Update: Squid Stake – Autoshark’s 2nd Launchpad Successfully Launched With 1750% Committed
Introduction
Squid Stake is a decentralized yield farm that uses a stable pegged APR to provide high passive income through select farms and pools (SPA). Squid Stake is dedicated to building the platform through a sustainable tokenomics model that is semi-deflationary in nature while assuring high sustainable payouts for stakers through constant repurchase and burn of the native $SQUID token and incentivising approaches such as liquidity mining.
Ever since AutoShark’s $FINS launchpad 1 month ago, the platform has grown from over $40 million USD in TVL to $240 million USD in TVL. That is a whopping ~6x growth! Price of $FINS from their first launchpad has also increased from $0.15 to over $0.70 right now which is close to a 5x as well for users that participated in the first launchpad.
They just announced the expansion of their oceanic ecosystem, with a budding project joining their ranks: Squid Stake. Squid Stake is being led by a veteran in the DEFI ecosystem who has built multiple protocols and is interested in expanding the oceanic ecosystem of AutoShark. Squid Stake has also joined AutoShark’s BUIDL academy as their first-ever BUIDL project to leverage financial and technical support from their team.
Feature
Stake & Earn
By opting to invest with them, you will be rewarded with a high APY/APR on your assets. Because of their unique tokenomics, they are able to maintain a sustainable emission rate. When you stake your tokens with us, you’ll be rewarded with $SQUID tokens, which are generated by their contract. Because of the cheap gas rates for transactions, Squid Stake is based on Binance Smart Chain rather than the Ethereum network, allowing for more efficient yield farming.
Sustainable Emission
Their tokenomics ensure that the price of their token rises in lockstep with the expansion of their TVL (total value locked). More deposit fees are utilized to buy back $SQUID tokens as the TVL grows. They will be the first to use a new methodology they developed called Stable Pegged APR (SPA).
Depositing into the Pool and Farm will incur a 3% deposit charge, of which 2.5% will be paid to a buyback wallet, which will be used to repurchase $SQUID and burnt coins. This guarantees that the price of $SQUID will continue to rise as TVL rises. To maintain the ecosystem and promote relationships, 0.5% of deposit fees is sent to the Treasury.
Deflationary Focused
Unlike most platforms, whose tokens are inflationary, theirs is semi-deflationary due to their system’s built-in buybacks. The buybacks and burns deflate token emissions, reducing the overall quantity of $SQUID as the ecosystem grows and prospers. The availability of $SQUID is limited.
Ecosystem
Squid Stake expands on AutoShark’s aquatic ecology to let you stake and earn more. The Swap will use its own router, but AutoShark’s liquidity will be used. AutoShark’s present farms will also be prioritized using the farms.
Squid Stake Launchpad Details
Subscription page: https://autoshark.finance/launchpad
Start block: https://bscscan.com/block/countdown/12167600
(Approximately Thursday, Oct 28 13:00 UTC)
End block: https://bscscan.com/block/countdown/12172400
(Approximately Thursday, Oct 28 17:00 UTC)
Duration: 4 hours
Funds to be raised: $500,000
Unlike most platforms where tokens are inflationary, their $SQUID token is semi-deflationary because of the buybacks that is native to their system. The token emissions are deflated by the buybacks & burn, reducing the overall supply of $SQUID as the ecosystem thrive and prosper. There is a fixed supply of $SQUID.
By creating a deflationary aspect on the token via deposit fees, they enable our $SQUID tokens to be versatile yet ensuring that the platform growth will be closely tied to the price of the token.
Start staking your major coins here to gain insane yields with them on 28th October: https://squidstake.com/
Squid Stake’s tokenomics ensure that their token price will always keep going up in tandem with TVL (total value locked) growth. When their TVL grows, more deposit fees are used to buy back $SQUID token. They have an innovative team and are pioneering a new methodology that they created – Stable Pegged APR (SPA). Read more about SPA – https://docs.squidstake.com/
Roadmap
Q4 2021
Launchpad on AutoShark
Audit by WatchPug
Setup of farms
Setup of $SQUID > $SQUID pool
Setup of Swap feature with trade mining
Setup of referral Programme
Set up of single pools – auto-compounding
Set up of at least 10 oceans for $SQUID > XXX Tokens
Listing on coingecko
Listing on coinmarketcap
Listing on dappradar
Price tracking on poocoin
Audit by Certik
Q1 2022
Release of NFT and NFT features
Listing on centralized exchanges
Additional deflationary mechanism
Major partnerships with strategic partners
Cross-chain development – conquering other chains after BSC
Launchpad
Q2 2022
Leveraged farming feature
Leveraged trading feature
Additional deflationary mechanism
Major partnerships with strategic partners
Continue on our cross-chain development
Learn More
Website: www.squidstake.com
Telegram Chat: https://t.me/squidstake
Gitbook: https://docs.squidstake.com/
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