Announcing Clay Nation Collective Zap-in on Minswap Launchbowl.

  • Protocols such as Clay Nation can use Minswap’s CZI to acquire Protocol Owned Liquidity (POL) and grow their liquidity, making trading and holding $CLAY more attractive.
  • By supplying $ADA, participants are essentially Providing Liquidity for $ADA/$CLAY at the market price the moment the CZI ends.
  • Participants become Liquidity Providers of the $ADA/$CLAY Pool and obtain long-term farming incentives.
  • Since the $CLAY/$ADA Pair will be open to trading throughout the event, this means it will be up to the market to determine the ratio (price) at which the $CLAY/$ADA Liquidity Pool Tokens are received. It also means CZI Participants will be subject to impermanent loss.
  • A Twitter Spaces with Minswap and Clay Nation on the Clay Nation CZI will be held on Thursday, September 29th at 2 pm UTC (10 am EST time).
  • There will be resources (Twitter Threads, Spaces and FAQs) for participants to familiarize themselves with how the CZI works.
  • Starting on October 3rd, anyone will be able to supply $ADA to the CZI and receive clayADA in exchange. This clayADA acts as a receipt, which you will later be able to convert to $ADA/$CLAY LP Tokens and stake them to earn $CLAY, $MIN and $ADA Farming rewards.
  • Participants who have deposited $ADA in the CZI will not be able to redeem it back until the CZI is over and they can redeem LP Tokens.
  • Throughout this phase, anyone will be able to trade in the $ADA/$CLAY Pool as they normally would, as well as deposit liquidity; but only those who participate in the CZI and redeem clayADA for $ADA/$CLAY LP Tokens will later have access to the Exclusive Farming Pool with boosted rewards.
  • Starting on October 12th, Participants will have to exchange their clayADA for $ADA/$CLAY LP tokens and will receive a Functional NFT.
  • Those $ADA/$CLAY LP tokens obtained from the CZI can be staked in an Exclusive Farming Pool. The Functional NFT has the only purpose to determine how many LP Tokens one can stake in the Exclusive Farming Pool.
  • The Exclusive Farming Pool for CZI Participants will have higher yields than the Normal pool for $ADA/$CLAY Liquidity Providers.
  • Currently (prior to the CZI), the circulating supply of $CLAY is 10.34% of the total $CLAY supply.
  • A total of 75,000,000 $CLAY, or 3% of total $CLAY supply has been allocated towards the Minswap CZI.
  • A total of 12,500,000 or 0.5% of total $CLAY supply has been allocated towards the $CLAY Farming rewards for a period of 6 months.
  • Once the CZI is over, the Exclusive Farming Pool will receive 95% of the $CLAY, $ADA and $MIN rewards allocated to the $CLAY/$ADA Liquidity Pool, while the Normal Pool (for non-CZI participants) will receive the remaining 5%.
  • Clay Nation and Minswap CZI Twitter Space: Thursday, September 29th at 14.00 UTC / 10.00 EST.
  • Zap-in Phase will start Monday, October 3rd at 23.00 EST / 3.00 UTC. Participants can supply $ADA for clayADA.
  • Encounter Phase will start Wednesday, October 12th at 11.00 EST / 3.00 UTC (provided not all the $CLAY allocated has been used up). Participants can exchange clayADA for $CLAY/$ADA LP Tokens and stake them in the Exclusive Farming Pool for boosted $MIN, $CLAY and $ADA Farming rewards on Friday, October 14th at 00.00 EST / 4.00 UTC.

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Minswap is the multi-pool decentralized exchange on the Cardano blockchain: https://minswap.org