Decentralized Finance (DeFi) has taken the crypto world by storm. The prospects of taking your crypto stash and feeding them into complex yield-producing machines means that you no longer have to sit on inert holdings and patiently wait for them to appreciate. Whether you prefer lower risk lending and pooling or higher risk farming strategies, there’s a flavor out there for you and your risk tolerance.
When SushiSwap first launched, it introduced yield farming and DeFi to a huge portion of the crypto world. Unfortunately, it was mired in controversy, not to mention high inflation.
A while later, the CORE team released their unique creation. Onto the ethereal plains of crypto, it was mere hours before they sold out of initial liquidity tokens. Soon after, several teams began releasing forked version of the CORE code to similar fanfare and enthusiasm. People had been clamoring for a way to yield farm at a high APY but without the risks of uncontrolled inflation.
CORE had its own issues and bugs, but were soon patched up by the efficient team. In that meantime, however, another group decided to take the CORE formula and enhance it. The result was UniCore: a recoded smart contract with additional functionality, improvements, and usability. The future keeps looking brighter.
Cörlibri is a high-yield deflationary token with real utility. It’s based off the UniCore smart contracts, adding additional flexibility and market dynamics into the mix. It is the first of many products to be released under the Cörlibri brand, some of which we outline below.
Liquidity Generation Event
Similar to other CORE projects, Cörlibri will have an LP contribution period. This will last for 3 days or until the contribution cap is hit, whichever is soonest. Upon completion, all ETH contributed will be sent to the corresponding Uniswap pair in order to begin trading. During this Liquidity Generation Event, contributors will have one hour to claim and stake their LP tokens in proportion to their contributed ETH. Staked LP tokens will receive yield from the trading fees built into the Cörlibri contract.
The total amount allowed for the initial contribution phase will be 750 ETH. The total tokens minted will be 25,000. No more tokens can be minted after that. Liquidity is locked indefinitely by the contract itself and can only be added to. This prevents any so-called “rugs” from occurring. However, LP tokens are able to be wrapped by Cörlibri’s Nectar contract in order to trade it freely on Uniswap or other DEXs.
Price Pressure, Bot Protection, Whale Discouragement
While volume is the lifeblood of our staking yields, it’s also important to ensure that traders feel comfortable contributing to this volume. Cörlibri contains two main features that help discourage unsavory market manipulation behavior: asymmetrical transaction fees and LP contribution period caps.
Initially, there will be a 2.5% transaction fee on all transfers and a 10% transaction fee on any market sell. That means that it’s easier to buy than it is to sell; bots will have to wait for a minimum of 10% price appreciation before unloading their tokens. However, if this fee structure inhibits market volume too greatly, it can be reduced. This flexibility allows a balanced maximum market volume and maximum liquidity incentive.
While we want our users to be able to maximize their returns, it’s also important to make sure there’s room for everyone. That’s why Cörlibri’s LP contribution period cap is set to 10 ETH. That means that users can only buy up to 10 ETH worth of Cörlibri tokens during the LP contribution period.
Staking, Farming, and much more…
LP token holders can stake their tokens at any time in Cörlibri’s vault contract. The yield is variable and depends on trading volume, but it does not come from more minted tokens. That’s the big difference.
The Cörlibri token itself is can be staked in order to earn even more yield. This yield does not come from minting more tokens, but from a different set of fees that are redistributed to stakers. Again, no inflation.
Finally, you can stake Cörlibri LP pairs to farm xCör tokens. xCör tokens can be used to purchase more Cörlibri or other tokens. As more pairs are added, more tokens will be tradable with xCör. To add even more fun, Cörlibri will also be releasing rare, exclusive, and low-mint NFTs that will only be available for purchase/airdrop with xCör tokens.
NFTs, WAX, and The Bridge: The Coolest Thing Since Baseball Cards
Cörlibri is partnering with talented artists, creators, and makers in order to release exclusive and rare Non-Fungible Tokens (NFTs). These NFTs will not be available anywhere else and will be capped at low-mint numbers.
Initially, most Cörlibri Partner NFTs will be released on Ethereum. Eventually, others will be available only on the WAX blockchain. Cörlibri is partnering with several prominent creators and groups that release only on WAX. Those NFT releases can be linked to Cörlibri holder’s addresses. Moreover, WAX is in the process of releasing a WAX-ETH bridge. This will open a whole world of possibilities for users on both chains, and holders of Cörlibri, naturally.
CörDeck: The Key to Discovering High Performing Tokens
The Cörlibri team is also working on an indispensable tool for its users’ DeFi and DEX needs: CörDeck. Currently in development, CörDeck is a cloud-based platform that helps a user find hidden gems on DEX platforms. CörDeck combines and processes raw data from the Ethereum blockchain, social media, DEX statistics, and more, in order to highlight projects and tokens with high potential.
These are things that most do for themselves already, but with CörDeck’s assistance, can be done hundreds (if not thousands) of times faster. There’s nothing like it available to the public, so stay tuned for teasers. Holding Cörlibri/xCör will be required for access, and only long-term holders of Cörlibri/xCör/LP tokens will be able to gain early access.
Cörlibri: The Now and The Future
The LP contribution period will be launching over the next two weeks. In the meantime, we are raising awareness and engaging with the community through a variety of marketing campaigns across the crypto space. Special prizes, extremely limited Cörlibri/xCör airdrops, and one of a kind NFTs are all part of the plan. Keep watching and you just might catch it!
The future is bright for Cörlibri. We are excited for our initial release, and even more so to show off our subsequent products. We intend to create a compelling, friendly, and useful ecosystem of interlinked products that everyone can participate in. The Cörlibri token is just the start.