Introducing SpartaDAO

I. Protocol

The SpartaDAO protocol is a fork of the famous OlympusDAO.

Protocol owned liquidity (POL) : In their opinion, the main upside of OlympusDAO design is the protocol possessing it’s own liquidity in a treasury. Instead of letting the assets sit there, they can lend or stake them, ensuring an ever growing treasury.

Their goal is to optimize and experiment with new bond types, policies and innovative mechanisms to provide an optimal treasury growth and claim their place in the defi 2.0 landscape.

“So that we may always have something to offer.” Lycurgus

They chose to build on Polygon since it’s a robust and established layer 2 of Ethereum, providing a great user experience with 1.5s block time on average, almost zero fees and one of the biggest and most active user base.

The long-term goal is to provide a trusted stable asset on Polygon but also expand to others EVM compatible chains. This will start by building a flourishing treasury.

To this end, at launch, the following bonds will me marketed :

• SPARTA/MATIC LP
• DAI

In the future, they aim to provide bonds for other assets to pursue treasury quest and implement various policies.

II. DAO & Treasury

 A Decentralized Autonomous Organization (DAO), as so, the community will have a central role to play in the protocol development, direction and choices.

“A city is well-fortified which has a wall of men instead of brick” Lycurgus

To this end, SPARTA token will act as a governance token.

At first, we’ll provide treasury policies designed by the team for you to vote on and choose from. Once the governance process has proven to work, the community will be able to emit and design those policies (the team will still audit them to ensure they’re safe).

III. Tokenomics

As a DAO, their tokenomics have been thought to build a cohesive community.
We’ll allocate 100% of the initial supply to our community. Firstly through a presale (60%), secondly at launch through liquidity on QuickSwap (40%).

This will give presalers a small price advantage to reward them for their services to the city-state.

Team members will be given the same presale allocation as any community member.

Protocol revenue :
Inspiring ourselves from uniswap forks revenue models, the protocol we’ll earn part of the emitted tokens (at rebase).

Considering the emissions will be greater than those of classic farms, we’ll allocate 5% of them as protocol revenue. This will act as a long term incentive for the team to continue building. We believe it’s the healthiest way to proceed.

IV. Development & Launch

Concerning the soldity contracts, we’re currently in the testing phase and being extra cautious.
As for our front end, we’re still building. You can expect the protocol to be live in late December.

This will leave us plenty of time to build a strong and loyal community but also design innovative mechanisms and policies to deploy solid strategies.

V. Whitelist

Whitelist spots will be assigned as follow :

• 100 Twitter users that followed us and retweeted our tweets.
• 100 Discord users who invited the most people through custom invites.
• 100 Discord users who contribute to the greatness of the city-state through helping others, contributing and participating to the Spartan life.
• Rest will depend on community size and will be attributed to our most valorous warriors and ingenious scholars.

Hypatist discord role and higher are eligible to the whitelist.

Everyone will have it’s chance to get whitelisted, you might be surprise as it could only take an insightful message, showing the behavior of a true Spartan.

SOURCE:
https://medium.com/@SpartaDAO