What Is Lion Scrub Finance?(Lion)
Welcome to Lion Scrub Finance, home to the first deflationary algorithmic token fork pegged to $SVN on the Cronos network with innovative new features!
The live Lion Scrub Finance price today is $30.65 USD with a 24-hour trading volume of $330,121 USD. They update our Lion to USD price in real-time. Lion Scrub Finance is down 3.28% in the last 24 hours. The current CoinMarketCap ranking is #3651, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.
If you would like to know where to buy Lion Scrub Finance, the top cryptocurrency exchange for trading in Lion Scrub Finance stock is currently MM Finance. You can find others listed on crypto exchanges page. $LION token will be algorithmically pegged to $SVN token
Important Points Table Of Lion Scrub Finance
| Basic | Points |
|---|---|
| Coin Name | Lion Scrub Finance |
| Short Name | Lion |
| Total Supply | 444,727 |
| Explorer | Click Here To View |
| Documentation | View Document |
| Website | Click Here To Visit |
How to Buy the Continental & Trade On Exchange?
The Big Picture
The $Lion Scrub Finance algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the cronos network and the Savannah Finance Protocol. The protocol’s underlying mechanism dynamically adjusts $LION’s supply, pushing its price up or down relative to the price of $SVN.
Inspired by the original idea behind Basis as well as its predecessors (bDollar and soup), Scrub Finance is a multi-token protocol which consists of the following two tokens: -Lion ($LION). -Tiger Shares ($TIGER)
What Makes Us Different
Scrub Finance is incubated by DIGITS DAO. The goal is to expand the MMF ecosystem and create a real dynamic protocol. They will help expand on the Meerkat ecosystem creating complementary products which enhance the communities experience inside the MMF ecosystem. The ultimate goal is to create a cross-chain algorithmic stable coin that will be used on multiple chains in parallel as a way of transferring funds multichain.
What Differentiates LION From Other Algorithmic Tokens?
Unlike previous algorithmic tokens, LION is not pegged to stable, gas, or DEX token — it is instead pegged to SVN. On top of that, unlike other projects, we are able to build on top of existing MMF-SVN ecosystem which allows us to have better control over how the mechanics between these 2 tokens interact. The team believes in the full potential of Savanna Finance, and is thoroughly devoted to provide value to and derive value from SVN’s future growth.
Lion Scrub Finance One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long run, the Scrub Finance team will maintain a focus on innovation around enhanced functionality and use cases.
MMF Launchpad Event
The initial supply of Lion Scrub Finance can be purchased through the MMF launchpad event on April 8th. 300,000 LION tokens will be available for sale on the MMF Launchpad. The sale will be at a price of 1 SVN for 1 LION. Initial LP will be added by Scrub Finance DAO for LION-SVN immediately after the MMF launchpad event has concluded. Users will then be able to pair their LION purchased on the launchpad with SVN and stake their LP to start earning TIGER rewards.
Tokens
$LION
LION token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain LION’s peg of 1 LION = 1 SVN in the long run.
$TIGER- Tiger Shares
Tiger Shares (TIGER) are one of the ways to measure the value of the Scrub Finance Protocol and shareholder trust in its ability to maintain LION close to peg. During epoch expansions the protocol mints LION and distributes it proportionally to all TIGER holders who have staked their tokens in the Scrub.
TIGER holders have voting rights (governance) on proposals to improve the protocol and future use cases within the LION money ecosystem. TIGER has a maximum total supply of 50100 tokens distributed as follows:
- 1.Treasury Allocation: 5000 TIGER vested linearly 12 months
- 2.Team Allocation: 5000 TIGER vested linearly over 12 months
- 3.Digits Dao Allocation: 5000 TIGER vested linearly over 12 months
- 4.Rewards: 35000 TIGER are allocated for incentivizing Liquidity Providers in two shares pools for 12 months
- 5.Initial mint: 100 TIGER minted upon contract creation for initial pool to be paired with SVN raised in the MMF launchpad.
$LBOND – Lion Bonds
Lion Bonds (LBOND) main job is to help incentivize changes in LION supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of LION falls below 1 LION:1 SVN, LBOND are issued and can be bought with LION at the current price. Exchanging LION for LBOND burns LION tokens, taking them out of circulation (deflation) and helping to get the price back up to peg. These LBOND can be redeemed for LION when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for LION when it is above peg, helping to push it back toward 1 LION to 1 SVN ratio.
Peg Mechanisms
Lion Scrub Finance has though of a few changes to the tomb/basis model which should help us keep $LION as close to peg, or above peg as possible. We have created transfer taxes for buy/sells/adding of LP.
Taxes
Taxes are imposed in a few different ways to help bolster a large treasury and protocol owned liquidity which in the event $LION drops below peg can deploy these funds to assist the protocol in regaining $LION’s peg with $SVN. Taxes on LION are taken out of circulation adding a deflationary mechanism to LION. Taxes are subject to change in the future.
- 1.Liquidity staked in the TIGER-SVN staking pool is taxed at 0.5% and goes to protocol owned liquidity.
- 2.Liquidity withdrawn from the LION-SVN and TIGER-SVN staking pools incur a 1.5% tax and goes to protocol owned liquidity.
- 3.Adding LP to LION-SVN pair is taxed only on the LION side for 1% and is sent to the burn address reducing LION supply.
- 4.Buys and sells of LION are taxed at 1% and are sent to the burn address reducing the supply of LION.
- 5.Selling TIGER incurs a 1% tax and is sent to the treasury.
As the protocol grows and stabilizes, taxes will be reduced not increased.