Tokocrypto recently had a new token, Spartan Protocol, a liquidity pool for asset exchange and synthetic asset generation from Binance Smart Chain. The foundation of Spartan is its liquidity pools, similar to Uniswap, but it uses a liquidity-sensitive fee model similar to THORChain’s slip-based fees. This ensures liquidity demand is always catered for, pool prices are resistant to manipulation and incentives are correct for sustainable minting of synthetic assets.
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.
Sparta Protocol includes:
an automated-market-maker (AMM) protocol with liquidity sensitive fees and a common settlement asset
a mechanism for minting synthetic assets on Binance Smart Chain, anchored to strict and floating price feeds from other assets, needed to create derivatives and leverage
a mechanism to borrow or lend assets (both real and synthetic)
a mechanism to govern the entire system and distribute protocol incentives
a single fixed-supply network asset that coordinates participation and incentivises capital formation for synthetics and lending
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Formed from a pseudo-anonymous group of developers who believe passionately in self-sovereignty, Spartan aims to allow token holders to do most of the key decision making for the protocol from mainnet. Any holder (big or small) of $SPARTA has the power to influence the protocol.
The SPARTA asset is used as the liquidity asset in pools, as well as the collateral asset to mint synthetic tokens. This ensures it is deeply liquid and can allow instant and safe liquidations of unsafe positions. Total supply of the token is 300m with an initial distribution around 100m.