What is Ester
Recently Popsicle And SpiritSwap have drawing our attention to yield farming on Fantom network. In Popsicle, you can farm ICE by staking fUSDT or ICE/FTM LP etc. Let’s say you have 1000 ICE staked in the pool, which can farm 1 ICE per hour. That is 24 ICE per day. Sounds good, right?
But that’s not enough. You have some knowledge of economics. You know that you can always claim the ICE reward and restake to the pool, which could earn you compound profit. That is cool. Thanks to the low gas fee of Fantom, you can do it your own without spending lots of money. But you do need to take care of this. Maybe you will do it manually every several hours. Sounds annoying.
Restake the single pool manually may not be a problem for you. But let’s say you farm ICE by ICE/FTM LP. If you wanna restake with the reward ICE. What would you do?
- Withdraw from the pool, in which case the pool will transfer you your principle LP and the reward ICE.
- Go to DEX and swap the half ICE for FTM.
- Add liquidity of ICE and FTM so you can get more LP.
- Restake all LP, which contains your principle and the newly minted LP, to the pool.
- Do it every several hours.
That is a disaster! I guess you don’t wanna do it by yourself. So what can Ester do for you?
Yes, Ester will take all the steps above for you. So you can just stake your token to our VAULT and … Enjoy!
You don’t need to take care of anything. You can withdraw your token anytime. When you withdraw, you will get more tokens than your principle.
Ester just wants to be a babysitter of your farming token.
Governance Token Distribution
Ester Finance will be governed by its own governance token: $EST. We want to get this token into the hands of people that will contribute to the growth of the project.
- Total $EST supply will be 3 million plus 1.
- There is no pre-mine.
- $EST is bootstrapped and it has no investors or VCs.
- 5% of total supply, which is 150k, will be airdropped to the supporters. More details about the airdrop will come in the next several articles.
- 80% of supply, which is 2.4m, will be distributed to the community through liquidity farming and our yield farming optimizer vault.
- 15% of supply , which is locked in the timelock contract released in 6 months, will be vested to the Team.
- The extra 1 is for initial liquidity on SpiritSwap.
There will be 6 staking pools for the liquidity farming:
The liquidity pools and the coming VAULT will share the 80% supply.
We are hoping to grow a thriving community to help build and govern the project. Come say hi!