Today we have the pleasure to have with us Q, Founder and CTO of Scientix for a much awaited AMA session. We welcome him and Scientix to Alpaca! Q, we will now ask you a series of questions we gathered before AMA.
Q1: Scientix is adding to Alpaca Finance. Can you please give us an introduction on Scientix? When will it launch?
Scientix is a future-yield-backed synthetic asset platform on Binance Smart Chain. It allows you to get interest-free loans that pay themselves off over time with no liquidation risk, while your collateral earns you yields in the background!
I want to highlight two points here: 1. self-repaying, 2. no liquidation. The Scientix protocol maximized the liquidity of your assets. Also, Scientix will be Alpaca’s first long term partnership for Grazing Range pool. You can enjoy high APY there, and also earn exclusive NFT Cards at Grazing Range pool.
The pool will go live on September 13th, 2021(next Monday) at 2 PM GMT.
Q2: How Scientix works?
It’s quite simple and straightforward:
1. When you deposit assets (BUSD for now) on Scientix, you can collateralize those assets to borrow scUSD without interest.
2. Because scUSD is a mirrored synthetic stablecoin pegged to BUSD, your loan can never be liquidated.
3. At the same time, your BUSD collateral will be deployed into Alpaca Finance’s lending vault to earn you yields!
4. Then, over time, the yields generated will automatically repay your debt for you!
Q3: How’s the tokenomics? And does your token have a maximum supply cap?
The Scientix team believes in the values of fair launch. So 100% of the tokens will be obtained by staking certain tokens and liquidity pool tokens in the Staking Pools contract.
- The Scientix team has access to an exclusive staking pool, which will receive 25% of the SCIX block reward.
- 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 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 and auditing fees.
- Stakers and liquidity providers are eligible to obtain 55% of the SCIX block reward.
- Lastly, ALPACA token holders have access to an exclusive staking pool, which will receive 5% of the SCIX block reward. — This is unique for Alpaca token holders.
The pie chart can give you a better idea of the structure:
Talking about the maximum supply cap, the answer is yes. SCIX, which is Scientix’s governance token, the emission model is: 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. One year later, there will be a fixed amount of 4,000 SCIX emissions per week.
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.
Q4: What is the SCIX token used for?
There are several ways:
1. Governance
SCIX Tokens give holders governance rights over the direction of the protocol and use of the treasury.
The Scientix DAO will begin as a developer multisig (2 votes from ALPACA, 2 votes from Scientix, one vote from independent signer) with signaling through the Snapshot app. It will transition into a feature complete DAO.
2. Farming
33% of SCIX tokens are for SCIX/BUSD PancakeSwap LP tokens’ farming. This pair will provide a liquid market for SCIX tokens.
11% of SCIX tokens are for SCIX tokens’ farming. 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.
3. Capture Economic Benefits of the Platform.
10% of ALPACA yields will be transferred to the treasury. All will be distributed to SCIX stakers.
Q5: How could “Young Alpaca” participate in Scientix?
In our token economy, we reserved 5% of SCIX tokens for ibALPACA tokens. ibALPACA token holders have access to an exclusive staking pool.
There are two ways for Alpaca holders to access the the staking pool:
- You can visit the Scientix website and stake in the ibALPACA pool in the farm page.
- You can join Grazing Range at Alpaca’s website and earn SCIX token, as well as exclusive NFT.
For more information, please follow our official Twitter: https://twitter.com/ScientixFinance and join our Telegram group at: t.me/scientixfi to learn more details.
Q6: Why did you choose Alpaca, is there any connection between you and the alpaca team?
Alpaca is the 1st leveraged yield farming protocol on BSC. So there’s no doubt that we choose Alpaca as our most important strategic partner. Also, we reserved 5% of SCIX tokens for ibALPACA tokens.
Q7: It says Scientix is a new type of Grazing Range partner for Alpaca, what’s the difference, and how could I participate?
This is a long-term pool that will be available not for only 1 or 2 months, but for many months or even years! In this case, it’s for the lifetime of the token emissions from Scientix! ALPACA holders will be eligible to receive 5% of all SCIX tokens!
You can stake ibALPACA tokens on Alpaca Grazing Range page or Scientix farm page. Both of them can receive the same SCIX rewards, and besides, you can earn exclusive NFT!
The NFT tier you receive will be based on the amount of ibALPACA staked:
- Green Tier: staked at least 500 ibALPACA
- Silver Tier: staked at least 5,000 ibALPACA
- Gold Tier: staked at least 50,000 ibALPACA
Q8: What makes Scientix unique compared with similar projects, and what’s your biggest advantages?
Scientix is the first future-yield-backed synthetic asset platform working with Alpaca on BSC.
We designed our tokenomics carefully.
We launch our product and token using a Fair Launch. Like Alpaca, they had no presale, no premine, and no investor.
We create SCIX/BUSD farming pool, which makes the SCIX/BUSD pair better liquidity. SCIX holders can swap from SCIX to BUSD and stake them to Scientix again.
Investors can lock their SCIX and get more rewards than similar projects, including all protocol fees and 11% of SCIX emission.
About Scientix
- Website: https://scientix.finance
- Gitbook: https://docs.scientix.finance/
- Twitter: https://twitter.com/ScientixFinance
- Medium: https://scientix.medium.com/
- Telegram: https://t.me/scientixfi
- Discord: https://discord.gg/fRZpVQYFmf
