On behalf of the core contributors and community managers, our best wishes for the new year. We hope all of you can enjoy the holidays together with family and friends and have a great time.
One thing 2021 will always be known for is the rise of meme coins. Especially dog coins, honouring humankind’s favourite four-legged friend. A recent initiative on Stacks comes in the form of Welshcorgicoin and we’ve been approached to support the token and the creation of its liquidity.
Arkadiko is an open community, welcoming all who wish to contribute. Builders on Stacks know that Arkadiko is the central place to work together on innovating and experimenting with new applications on Stacks. We’ve built quite a few building blocks for others to use.
One such building blocks is Arkadiko Swap, a decentralized exchange that enables SIP10-tokens to be exchanged through the use of smart contracts, without any middlemen. Often when new tokens launch, they create their first liquid market by creating a liquidity pool against another well-known asset.
We’ve been contacted by a core-community member of Welshcorgicoin to list their token $WELSH on our Swap.
The proposal would add the pair to Arkadiko Swap and enable liquidity provision by anyone. The Welsh Corgi team will be providing initial liquidity.
We are delighted to welcome a grass-roots community project to Arkadiko. By adding the token to Arkadiko Swap, we can bridge between the two communities as well as list an external SIP10 token for the first time. We anticipate more projects to launch on Stacks in the future and Arkadiko should be a central place where these communities go for liquidity and exposure.
No DIKO incentives will be added to the pair. Additional LP incentives in the form of LP Staking rewards might be offered by $WELSH emissions. Arkadiko Staking page could host the UI that would enable the staking of LP tokens and claiming of rewards.
A swap fee of 0.25% would be used as fee parameter.
At Arkadiko, we take community governance very seriously. A governance vote will ultimately decide if the pair is created. Keep an eye on our announcement channel on discord to get notified when the vote goes live. We use the standard governance term of 10 days to let the community cast its vote.
Note that Arkadiko does not directly endorse $WELSH, nor is this blog post supposed to be financial advice. Do not deposit anything you are not willing to lose. Having said that, we love the Welsh community and would love for the $WELSH token to be a huge success!
On a final note, a new pool STX/xBTC went live today with high APRs. This is the first step in supporting the Bitcoin asset on Arkadiko. An incredible milestone, but only the beginning of our journey.