Spartan Protocol
Spartan Protocol provides community-governed and programmable token emissions functions to incentivize the formation of deep liquidity pools. This strong base of liquidity will be utilized to provide asset swaps, synthetic token generation, lending, derivatives and more. The common base asset SPARTA provides an internal pricing mechanism without reliance on external oracles. Binance Smart Chain was chosen as the protocol's home to allow for near-instant settlement and extremely low gas fees.
The heart of the Spartan Protocol is its incentivised liquidity pools, driving on-market capital formation. The liquidity pools are facilitated by an automated-market-maker (AMM) algorithm with liquidity-sensitive fees. Liquidity-sensitive fees ensure the system can sense correct token purchasing power at all times, allowing scalable and risk-tolerant growth.
The Spartan Protocol allows the generation of synthetic assets, using price anchors offered by its own liquidity pools, collateralised by liquidity pool shares. Liquidity pool shares are on-market, value-stabilised and can be instantly liquidated. Liquidity-sensitive fees ensure positions taken up will scale with the depth of available liquidity, preventing deleveraging spirals common to other systems.
Synthetic token minters are short the value of the token, and long the value of their collateral. By winding up their position, they can achieve leverage. The opposite is also true for those wishing to leverage long a token. Lending is possible using a system of fees and collateralised debt. Liquidations of unhealthy positions are done instantly via liquidity pools, ensuring the system is always safe.
A programmable incentive token with multiple incentive streams
Max initial supply of 100 million distributed via Proof-of-Burn & Bond+Mint
Daily liquidity incentives beginning at 30% APY reducing over 10 years
Fixed maximum total SPARTA token supply of 300 million.
The project is galvanized by the communities of former Binance Chain projects.
Individual token holders destroy their previous assets to acquire $SPARTA.
30 Binance Chain projects selected to participate.
It begins decentralised from Day 0; there is no official team and no treasury.
The protocol is autonomous and does not need ongoing maintenance.
