3xcalibur Launch: Everything You Need to Know
Greetings Insurgents!
The 3six9 Collective has been hard at work prepping for the imminent launch of our protocol 3xcalibur.
In the past month, we launched our testnet, and completed 3 cycles with our community. At this stage in the development life cycle, it was a significant part of the process to receive feedback and use the collective mindshare of the Insurgents to catch any last bugs. We were able to make some optimizations and improve the overall user experience, and we believe we will deliver a product that both our users and other projects will love.
Just recently in the past two weeks, we completed a Security Audit with Omniscia. We also completed a Cod4rena competition.
With all these milestones complete we are super excited to bring you details of our mainnet launch of 3xcaliSwap.
We will be deploying to Arbitrum mainnet Sunday 6th November 2022.
Our Goals with 3xcalibur
3xcaliSwap is a permissionless DEX that allows other protocols to easily acquire deep liquidity for their token, bribe emissions to their pool, and also accrue fees from the liquidity they incentivize.
The 3xcaliSwap AMM is based on the original Solidly codebase. This means by design, our protocol is built to align emissions with fees generated, and not with liquidity.
Protocols and other large stakeholders lock their $XCAL to gain voting power and direct emissions to the pools they vote for. We have also improved several areas of the Solidly codebase, which we believe were mechanical issues that hindered its success.
With the Solidly design, any protocol or project can easily incentivize their own liquidity, be it for their token, their stablecoin, or even other derivatives, and while doing so, they fully accrue fees.
As a result, the liquidity attracted should be of higher quality and more sticky, thanks to the ‘protocol first’ nature of the design. Our token mechanics and emissions schedule is improved on the Solidly and Velodrome iteration.
An Arbitrum Native DEX - We chose to launch on Arbitrum as their layer 2 tech is some of the most cutting-edge rollups in the space. With Nitro launched Arbitrum offers the perfect opportunity for a new native DEX to help scale the ecosystem. It is our aim to help other projects and protocols acquire deep liquidity for their token. We are excited to deploy our product and join the flourishing Arbitrum Ecosystem.
As of now Total Value Locked on Arbitrum is north of 1bn and it accounts for over 62% of all Ethrem transactions. We firmly believe that Arbitrum is the future and there is going to be further ecosystem growth, which we hope to play a part in scaling the L2.
Launch Features:
Swap
Swap any ERC20 token listed on the platform.
Deposit Liquidty/withdraw liquidity
Deposit liquidity to a token pair.
Stable & variable pools
Swaps are routed either through variable (uncorrelated assets) or stable pools (correlated assets).
Vest
Lock $XCAL, recieve $veXCAL, and vote on directing emissions.
Vote
Use $veXCAL to direct emissions.
Bribe
Add extra incentives to swap and credit pools.
Rewards
Claim rewards.
Fee Tiers
Stable Pools - 0.0369%
Variable Pools - 0.27% (instead of 0,01% to better align R/R for LPs and price for traders)
Higher fees -> more liquidity -> less slippage -> better price for traders which might be a better trade-off for the price than lowering fees to 0.01%
Coming Soon:
MultiSwap: Multiswap allows traders to do a one-to-many asset swap. The order will be directly routed through different pools to mitigate the gas fee as well as the slippage.
Zap & MultiZap: Zap allows traders to directly exchange a digital asset for LP tokens.
It will be possible to zap among a basket of assets whitelisted by 3xcalibur making the user experience smoother.
Public Round Participants:
Claiming XCAL:
For Insurgents who participated in the Public Round, you will be able to Claim $XCAL on Sunday, November 6, 2022.
We will release an article detailing how to claim prior to claiming, so stay tuned.
Airdrop:
We are airdropping 0.5% of the total supply to those who participated in the original Discounted Community Round (DCR). The airdrop will already be added to the claimable amount for the DCR and so you will be able to claim all tokens at once.
Pools at launch:
To start, we will have a XCAL/USDC pool. We will be opening up new pools shortly after our mainnet launch.
Deposit liquidity into these pools, lock your XCAL to vote to direct emissions and earn platform fees!
Bounty Rewards:
To our community members who participated in the incentivized testnet. We will be awarding users based on the criteria set out previously.
Bounty Matrix:
- Contract based bounties will be paid out in $XCAL. Each reported bug will be reviewed by the team on a case-by-case basis.
- For general and UI/UX bugs will be paid out in USDC, 100 USDC max amount per bug.
- First come first serve for bug payouts.
Max payout available for bug based on severity and likelihood for contract-related bugs. Contract bugs are only viewed as valid if they result in loss of user funds.
You can learn more about the bug bounty update in our recent article here.
Still to come:
To give back to the Arbitrum community, in the near future, we will be airdropping 3% of the total supply of XCAL in an Arbitrum Ecosystem airdrop.
Stay tuned for more information on eligibility and how to claim when the time comes…
Semper Ad Meliora!
🗡 ABOUT 3XCALIBUR
The 3xcalibur Protocol is a permissionless, liquidationless, oracleless liquidity marketplace, powered by Tri-AMM architecture to facilitate stableswaps, variable swaps and borrowing/lending.
The Tri-AMM architecture makes 3xcalibur a highly-capable and modular automated market maker.
📱REBEL WITH US
Follow our official social media accounts and visit our website to stay up to date with everything 3xcalibur.
Twitter | Discord | Website
🚨IMPORTANT
THE $XCAL TOKEN IS NOT ON THE MARKET YET!
Be careful of fake Telegram groups, Discord servers and Twitter accounts trying to impersonate 3xcalibur. Only use our official links and make sure to crosscheck.