πSaharaExchange Tokenomics
The core foundation of the Sahara Protocol is the ANKH token.
1. Hard Cap and token distribution
The ANKH token has a hard cap of 500,000,000 tokens and features an extensive lockup model where 95% of earned tokens will be released at a later stage in the future and 5% will be available directly. This model is intended to disincentivize heavy farming and selling pressure by participants who arenβt committed for the long-term sustainability of the protocol.
2. Fees
There are no deposit fees for any of the pools, only withdrawal fees.
25% slashing fee if the user withdraws from Sahara.Exchange in the same block. (This is to prevent abuse from flash loans, despite not having a Compound/Cream fork and lending solution on Emerald, this stays in place in the inevitable event someone decides to make one, or official integration with the above or AAVE comes to fruition)
12% fee if the user withdraws from Sahara under 1 hour.
6% fee if the user withdraws from Sahara under 1 day.
3% fee if the user withdraws from Sahara under 3 days.
1% fee if the user withdraws from Sahara under 5 days
0.5% if the user withdraws from Sahara after 5 days but before 2 weeks.
0.25% if the user withdraws from Sahara after 2 weeks but before 4 weeks.
0.01% if the user withdraws from Sahara after 4 weeks.
Important things to note:
Withdrawal fees on the DEX are calculated based on the block of your previous withdrawal. If you have not withdrawn from the pool previously, they are based on the block of your first deposit. What this essentially means is that as long as you have your foot in the proverbial door β have deposited a bit into the pools, you are not taxed on any subsequent additions to the pool (ie the timer does not reset).
If Emerald ParaTime decides to change block speeds, this will impact the fees, but such cases are very rare in blockchain development due to consensus issues.
3. Fee sharing & governance
Compared to the Uniswap fee distribution model (which dexes primarily tend to use, such as YuzuSwap, albeit in a slightly modified way) Sahara will have fee sharing enabled right away, and not just for those providing liquidity explicitly, since solo staking the DEX governance token (ANKH) for xANKH in the Sarcophagus allows everyone to participate in the volume of the DEX, allowing users to earn 1/3rd of all generated trading fees across all of the pools on the DEX. This is, right off the bat, more than the traditional dexes present on ROSE allow for.
What the Sarcophagus really does, code-wise, for ANKH (and can be checked on charting solutions such as Dexscreener, or the github, if you prefer the code) is that it buys back the ANKHs, using the proceeds from the standard 0.3% slippage fees and the early withdrawal penalty fees. This makes the xANKH you get for staking ANKH more valuable, as the multiplier goes up, without you needing to do anything manually, thus saving you time and generating value.
4. Governance Voting
todo....
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