Posted Monday Sep 27, 2021
Hello, #PartySquad! We are here to announce significant changes that will improve our platform in the long run. We plan to start deploying these modifications in the coming weeks, so please stay tuned for more articles that will dive deeper into the details of each point.
We know PartySwap isn't offering competitive rewards to our users. The current APRs and the total daily rewards distributed to liquidity providers are not competing against other similar platforms. This is a huge problem, and we plan to fix this.
To improve the daily rewards in the piñata farms, we need to make essential changes to our smart contracts. However, to modify the daily emission rate of $PARTY, a re-deployment is required. This is because our smart contract, "TreasuryVester," which determines the number of coins given daily to liquidity providers, is hard-coded. Also, this contract doesn't allow us to withdraw the reward tokens from it, so the only way to fix this is to create a new coin and modify the vesting parameters.
Here is a list of essential points that will happen during the transition process from PARTY V1 to PARTY V2:
⚠️ Disclaimer: The people that are staking in the jacuzzi will be able to withdraw their tokens from it with no penalty after the launch of the new $PARTY token. We recommend staying in the jacuzzi to keep farming rewards until the new token version launches.
Our release date for the new $PARTY token and the new smart contracts is two weeks from now; However, we always recommend our users to follow us on Twitter to stay tuned about further deadline changes. Also, it is important to note that a special article will be released very soon explaining every detail about this important step (the official PARTY V2 announcement).
We are proud to announce a 3D NFT collection that will be released in the Avalanche blockchain. Our plan is to offer something similar to Pudgy Penguins but with a better design and completely done in 3D. Considering that our brand and design are the strongest points of our platform, we decided to take a step further to take advantage of our skills!
Here is a sneak peek of what's done.
The release date for our NFT collection is currently scheduled for November or December of this year and a specific article dedicated only to this application will be released next month.
As many already know, we still have pending phase two of the delegator's airdrop. However, we now have decided to drop these tokens during the release date of the PARTY V2 rather than airdropping them now. Furthermore, we plan to do a new airdrop at our PARTY V2 release day, rewarding certain users that supported us during our start. More details will be published soon in the new PARTY V2 announcement article.
Finally, we are making a new Litepaper that will be released very soon. This new litepaper will cover every detail about the PARTY V2 token and its new fundamentals. In this case, we won't make a PDF file but instead, publish it on our Gitbook documentation.
To currently incentivize $PARTY usage before the launch of version two, we will focus on increasing the $PARTY pairs multipliers in our current piñata pairs. This will hopefully improve the demand for $PARTY and will also help the token to have more liquidity, allowing users to properly execute bigger trades.
And that's it for now. We hope this announcement means good news to our supporters, that will finally enjoy a platform that can offer a more competitive reward system. We are working hard to improve our app!
PartySwap is a Decentralized Exchange (DEX) launched in Avalanche where you can do permissionless swaps between currencies, earn interests in farms and liquidity pools in one interoperable, highly scalable ecosystem.
If you have inquiries about our platform, please don't feel afraid to ask! [email protected]