PolyCrystal x Timeleap

Hey Crystal Crew! It’s that TIME again! Time for another new pool! Starting very soon, $CRYSTL holders can stake their tokens in a pool, and earn $TIME. This comes as a beginning in our hopefully long and prosperous partnership with Timeleap Finance!

As usual, we’ll talk a little about the $TIME token itself, and then get into some of the really interesting new things that the Timeleap team have come up with!

$TIME

Max Supply: 86,400

Emissions: 0.05 $TIME/Block

Developer Mint: 10%

Address: 0x5c59d7cb794471a9633391c4927ade06b8787a90

$TIME is a fixed supply yield farming token that you can stake to earn high APRs. You can also use your $TIME rewards to contribute liquidity in their Timeleaps.

Platform

Timeleap has an interesting take on current yield farming tokenomic structures. Most platforms employ some form of automated buyback, a lot of them take a portion or all of these tokens and burn them to increase scarcity. Given that TIME is a fixed supply token, obviously this would eventually cause a huge drop in supply.

That’s where Buyback and Make comes in…

Buyback and Make

Instead of completely removing $TIME from circulation, the Timeleap vault system will have a mechanism that purchases $TIME back from the market, creating buying pressure. It then deposits $TIME back into the MasterChef contract so as to continually motivate and reward liquidity providers. So in essence $TIME will never run out, if you’ll pardon the pun 😉.

This means that even though the supply is fixed, there is an automated circulation of that supply through MasterChef, resulting in a recycling of rewards. This is vastly different from what a large majority of auto compounding vaults do, which is buyback and then send those tokens to a dead address to remove them from circulation.

Burning tokens does work, of course! It’s important to control supply, hence the Buyback and Make model seems to be a really creative and sustainable way to do so.

If you’ve got the … time, you could read this incredible article on the Buyback and Make tokenomics structure.

This has got to be one of the more interesting concepts in Polygon DeFi at the moment, definitely something worth checking out!

It’s very clear that the team has a vested interest in creating a sustainable way for capital to cycle through liquidity providers in a safe, transparent and sustainable way. They’ve written a lovely open letter to their community, expressing their reasonings and decision making while building Timeleap!

We’re really excited to begin building with the Timeleap team, and welcoming them into the CrystalCrew!

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