Introduction to Scientix

3 min readSep 8, 2021

After a long preparation, planning, development and testing, we are thrilled to introduce Scientix, a future-yield-backed synthetic token with self-repaying loans, no liquidation.

Scientix

Scientix Protocol is a future-yield-backed synthetic asset platform on Binance Smart Chain. In other words, Scientix is a DeFi platform that allows for the synthetic token creation for the future yield of a deposit. Scientix is committed to providing users advances on yield farming via a synthetic token that represents a fungible claim on any underlying collateral.

Token Utility

SCIX is the governance token in Scientix. scUSD is a synthetic stable coin, and the transmuter of scientix will be responsible for keeping its peg. scUSD, is mintable using BUSD, users can deposit BUSD to borrow scUSD. To mint scUSD, users deposit BUSD into the Scientix smart contract and can then mint scUSD.

Tokenomics

Scientix is 100% fair launch, which means 100% of the tokens will be obtained by staking certain tokens and liquidity pool tokens in the Staking Pools contract. The tokenomics will be the following:

▹ Farming: 55%. Stakers and liquidity providers are eligible to obtain 55% of the SCIX block reward.

▹ Team: 25%. The Scientix team has access to an exclusive staking pool, which will receive 25% of the SCIX block reward.

▹ Warchest: 15%. 15% of SCIX tokens are reserved for future strategic expenses. These include listing fees, audits, third-party services, liquidity for partnerships, etc.

1% of the SCIX tokens will be the incentives of 5 multi-sig cosigners which will be the initial governance DAO until a fully on-chain governance is ready.
2% of the first year SCIX supply will be mint at the launch time as the funding of initial liquidity provisioning, auditing fees, early development, marketing, hiring and etc.

▹ Alpaca token holders: 5%. Scientix is cooperating with Alpaca and open a pool for Alpaca token holders. Alpaca token holders have access to an exclusive staking pool, which will receive 5% of the SCIX block reward.

Staking Pools

At launch, there will be four pools, one for ALPACA, one for SCIX, one for scUSD/BUSD PancakeSwap LP token, and one for SCIX/BNB PancakeSwap LP token.

The following determines the initial weight and rationale of each(60% total):

11% scUSD/BUSD PancakeSwap LP tokens. It is important to establish a peg as close as possible to the US dollar and provide deep liquidity for scUSD. Doing so will provide real utility to scUSD, as it can be easily converted to BUSD with low slippage.
33% SCIX/BUSD PancakeSwap LP tokens. This pair will provide a liquid market for SCIX tokens.
11% SCIX tokens. This pool is to reward those SCIX holders who may not be able to join the SCIX/BUSD pool because of too much risk. The lifetime of this pool will be determined by the community.
5% ALPACA tokens. ALPACA token holders have access to an exclusive staking pool.

As Scientix brings more scientific synthetic tokens to the market, these pools and their weights will be adjusted. The priority will be to motivate the synthetic pair with their base asset.

SCIX Emissions Schedule

In the first week of staking, it will distribute approximately 30,000 SCIX tokens, and the number will decrease by approximately 500 SCIX per week within a year. The first year total supply will be 884,000 SCIX.

Since SCIX rewards are calculated on a block basis, network conditions may slightly affect the emission schedule, but the impact should be negligible.

One year later, there will be a fixed amount of 4,000 SCIX emissions per week, increasing the total supply of 208,000 SCIX each year.

The total supply of SCIX is 1.313 million. After reaching this number, the community can vote whether to modify the total supply, otherwise no new SCIX will be generated.