Introducing StarLight
Liquidity Protocol incentivising fair launch projects through the community ethos.
Motivation
The general direction of our crypto economy in the recent past has shown a measurable increase in affinity towards ethos with grand vision incubating communal growth rather than big ideas conceived in the presence of VCs designed for having a greater unfair advantage than the average Joe. StarLight is a simple project with a straightforward community first vision for building an ecosystem for the open economy.
StarLight
StarLight is modeled by Constant Function Market Maker. It is a type of automated market maker defined by its trading function,
ϕ : (Rn+) × (Rn+)× (Rn+) → R,
and its reserves,
R ∈ (Rn+).
Rn is responsible for specifying how much of the coin in the CFMM is allowed to be used or to interact with, with the trading function responsible for determining what constitutes a valid trade.
StarLight is a new swap protocol inspired by the works of bancor & uniswap with redesigned token economics and vision. A well designed AMMs that hosts multi-purpose use case in coordination with every breadth of the ecosystem.
How?
At the core, StarLight is a community-governed, AMM protocol via the StarL token. Anyone can list ZTS standard token in the StarL platform to start swapping but, it’s up to the holders of the StarL token to decide what pool will get rewarded the most for their contribution via the governance.
StarL farming
StarL is the governance token and a profit-sharing token for the StarL platform, with no Premine, and no founder allocation. StarL can be farmed via providing liquidity to the whitelisted pairs in the ecosystem.
For the first few months, every week pairs will be manually be whitelisted so that it gets to share the farming rewards until we find a way to automate this process. This is done to prevent any sort of deleterious action.
StarL has a hard cap of 10MM tokens, with a detailed release schedule to be announced. Since we are building on Zenon Network, projects getting listed against the ZNN pair in StarLight exchange registers a boost of 1.5x in its rewards.
Projects listing against StarL registers a boost of 1.2X in rewards.
StarLight comes with a fixed swap fee of 0.7% with 0.5% going towards the LPs and 0.1% going towards the StarL stakers and 0.1% towards the StarL treasury to fund further development of the ecosystem.
StarLight development milestones-
- Development of the router architecture
- Delivering the exchange contracts
- Beta version of StarLight Exchange integrated with CFMM
- Full Blown launch
- Introduction of singularity, a general purpose component of the StarLight ecosystem allowing projects to open up their farms customized to their own need.
Why Zenon?
StarLight will be launching on Zenon to serve the building of the network on it and stand to be an integral part of the ecosystem. Soon, Zenon will be launching with the following advantages over other platforms-
- High Throughput
- Low Latency
- High Scalability
- Low hardware resource consumption
- Low transactional data size
- Low transactional fee
What now?
We didn’t take our project to any VCs or get bootstrapped with millions only to rig up true network participants cause we are excited to beat drums for the fair launch movement and super enthusiastic to build on Zenon.
Since there is no founder allocation nor any other way for us to stay incentivized to build we are applying for the Zenon Incubator program.
What do we need from the incubator?
- More details about Zenon Network, dev specs, and tooling.
- A time period of around 2–3 Months to launch the beta.
- A funding of 21000 ZNN.
After the development is 50% done we will start our marketing and try to integrate extra features depending upon the flexibility of the Zenon alphanet, we will use part of the funds received for bootstrapping the StarL/ZNN pair in our exchange.
During our final beta test, early community members will be able to access StarLight and farm StarL that would continue on for 2 weeks before it’s open to everyone else.
Contact(tg)-> zk_non
Thank You.
