Spartans, momentous days lie ahead of us! August 3rd is the date we celebrate the first anniversary of the SpartaDEX mainnet launch and the TGE of $SPARTA. This year has been rich in ups and downs, tough times as well as fruitful ones that brought about positive and remarkable outcomes. The culmination of these efforts is an event that will take place in just a few days, the details of which you will learn in this post.
Lockdrop: The Grand Finale
At the very beginning, let us once again draw attention to the Lockdrop, which final phase has just definitely concluded.
Lockdrop mechanism allowed early SpartaDEX adopters to lock their funds in several currency pairs, providing the initial liquidity necessary to launch the DEX. The reward for this involvement was an airdrop of $SPARTA tokens. Most users decided to lock their funds for 52 weeks. This period has just ended and all funds have safely returned to users’ wallets.
But as every Spartan knows, each end is merely the start of a new journey. Today, we unfold the next thrilling chapter. Let us introduce you to the:
SPARTA 3.0
Spartans! The last time we presented our vision for SPARTA 2.0, it heralded revolutionary changes that ultimately resulted in the creation and refinement of a fully functional, brilliantly designed product — SpartaPAD. This platform now stands as the cornerstone of our entire ecosystem, providing you with project presales that can yield returns of several dozen times over, while granting us a steady income and self-sufficiency.
This time is no different. Once again, we observe, analyze, draw conclusions, and face the challenging conditions the market throws at us. SPARTA 3.0 is the next evolution of our ecosystem, introducing radical and unprecedented changes that we believe should become the standard and the beginning of the market’s journey towards a new normal.
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The current market conditions are difficult and unpredictable. Valuations of both new and existing projects are plummeting, and companies are going under. But this is not a coincidence. We as a crypto community brought this fate upon ourselves by designing projects with tokenomics that seemed sensible in theory but utterly failed when put to the test in the real crypto market. Seed and Private rounds were sold at lower prices to VC investors, with cliffs and vesting periods dragging on for years to enforce slow and balanced distribution.
All of this seems necessary and well-thought-out, but it’s important to remember that in the crypto market, everything happens at an accelerated pace. Trends are born and die within a few months or even weeks, and definitely won’t wait for unlocks to end.
Today is nothing like it was in 2016–2018, where there was freedom, and all tokens were released immediately, leaving behind a clear and regulated situation. Now, at the time of TGE, only a few percent of the supply is released, with the next few years overshadowed by the grim prospect of long-term inflation, bleeding dry a project that has long ceased to excite while receiving a massive supply.
At SpartaDEX, we aim to correct this mistake in a very radical, yet the only effective way. By burning all still-unvested $SPARTA tokens, we will completely cut off inflation and equalize the current MarketCap with FDV. Simultaneously, thanks to the long-operating unstaking mechanisms, we are making the token deflationary.
We have named this pivotal token burn The Troy Event, which will take place within the next few days.
The Troy Event: Fiery path to deflation
In the Spartan ethos, boldness is revered. Burning $SPARTA tokens is a courageous, but necessary, move to ensure our long-term success. Down below we will present a detailed breakdown of how we want to achieve this deflationary transition.
During The Troy Event, we will burn the following amounts of tokens:
• Ecosystem Rewards — 35 000 000 $SPARTA
• Team — 13 000 000 $SPARTA
• Development — 3 750 000 $SPARTA
• Marketing — 2 250 000 $SPARTA
• Operational — 1 250 000 $SPARTA
• DAO — 5 000 000 $SPARTA
That’s 60 250 000 $SPARTA (+60% of supply) burnt in total!
Leaving 37 850 000 $SPARTA as a fully unlocked circulating supply.
To present the economy of the entire process, let’s go through those pools step by step and look at the motives and technical details behind these decisions:
- Team, Marketing, Development and Operational pools:
SpartaDEX’s self-sustaining economy model allows us to maintain a continuous workflow and cover all current expenses through revenue generated directly from the platform’s operation (DEX and launchpad fees). Additionally, the year-round accumulation of funds from the vesting of the Marketing and Development pools has provided us with a surplus, ensuring our continued operation. - DAO pool:
This portion of $SPARTA was locked by a smart contract for potential release by governance. Its burning does not have any significant consequences. - Ecosystem Rewards Pool:
We are also burning the remaining portion of this pool, which was initially intended as a reward for those providing liquidity for SpartaDEX and actively playing and developing their Polis. Thanks to the launch of the Leaderboard, described in the next chapter, active users will be rewarded in a different, even better, and more valuable way. - DAO Maker Sale pool:
The DAO Maker pool is the only exception, with 0.35% of the supply remaining untouched due to its strategic significance. Although the number of tokens is marginally small and distributed across such a large number of wallets, it does not affect the tokenomics.
By achieving a state of complete token release, we reduce $SPARTA’s inflation and halt the influx of new tokens into the market. Simultaneously, our unstaking mechanisms will ensure that the $SPARTA token transitions into a deflationary asset, through the constant burning of tokens derived from up to a 50% commission for not adhering to the 110-day cooldown period.
IMPORTANT!
This is our plan; however, such crucial decisions require the approval and support of our entire community. Therefore, in the spirit of democracy, whose cradle is the ancient Greece so dear to us, we are placing the decision in your hands with an on-chain vote on the Snapshot platform. The final execution of the event will depend on your decision.
The voting link is below. Only $SPARTA token stakers are eligible to vote. The weight of your vote is determined by the number of staked $SPARTA tokens.
The vote will last 72 hours, and the option that receives more votes wins.
Rise to glory with SpartaDEX Leaderboard
Being a Spartan warrior means constantly striving to excel. This August, we will launch the Leaderboard, an innovative platform to showcase your commitment and earn significant rewards.
Climbing the Leaderboard involves a variety of activities, such as adding liquidity (LP), advancing in the SpartaDEX game Senate level, utilizing the DEX (volume), and collecting NFTs. At some point, we will also introduce additional tasks and campaigns to keep the competition dynamic and engaging. All details regarding the Leaderboard will be presented soon in a separate post.
The stakes are high, as rewards will be granted based on your position on the Leaderboard.
- For the last time, staked $SPARTA tokens will be distributed as a reward. These funds, amounting to 2 million tokens, will come from the unlocked portion of the DAO pool.
- However, the main reward will be Linea tokens, which we are striving to obtain as an airdrop for SpartaDEX. If granted, 50% of these tokens will go to those who have demonstrated their commitment through a high position on the Leaderboard.
SpartaPad IDOs: A New Beginning
Although you haven’t seen any new IDOs on our launchpad in recent weeks, our business development team has been far from idle. Throughout this period, we have been searching for new contacts, building strong business relationships, and establishing a solid market presence. We have also secured many partnerships; however, the current market is not conducive to launching new projects. Doing so in such a negative sentiment would not bring any benefits to investors, the projects, or us as a launchpad.
Why does it look like that?
Firstly, the crypto market typically experiences a period of calm during the summer season. This time of year often sees stagnation, consolidation, and minimal significant movements. Secondly, the current market conditions are challenging and uncertain, characterized by declines, low token valuations, and generally negative investor sentiment. Launching new projects during such a period would likely lead to a lukewarm reception and a rapid decline in token value.
But thanks to the work we’ve done, we can openly say that we are ready for the anticipated market sentiment shift, which seems to be just around the corner. With this shift, we expect a resurgence of IDOs on SpartaPad.
We are prepared to announce a series of new projects that will be featured on SpartaPad throughout August and September. These projects represent the next wave of innovation and opportunity within our ecosystem. Stay tuned for these exciting developments.
The long road ahead
The Troy Event signifies the monumental start of SPARTA 3.0, poised to make a global impact in the crypto world, serving as a prime example of proper, dynamic adaptation to the current market conditions faced by developers and builders.
Over the past year, SpartaDEX has not only survived but thrived, evolving into a profitable launchpad. This success has enabled us to achieve significant savings, which now empower us to take such radical actions, that aim to enhance the entire protocol’s economic stability and growth potential. By burning a significant portion of tokens primarily allocated for ecosystem development, we are taking a considerable risk. However, we know that in the long term, this action can yield tangible, positive results for both us and our community.
We hope that SPARTA 3.0, as a protocol free from inflation and designed to generate revenue, will serve as an excellent example for the entire crypto market. It aims to demonstrate the correct approach to tokenomics and prove where true value lies.
This is not over.
We are Sparta. We are here to stay!
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Give us a follow if you do not want to miss out on the things that are coming:
Twitter: https://x.com/Spartadex_io
Discord: https://discord.gg/spartadex
Website: https://spartadex.io/
