#SatinExchange #DEX #AMM #Polygon

Satin Exchange is a decentralized exchange (DEX) and automated market maker (AMM) built for protocols on Polygon to incentivize liquidity for their own use cases and earn revenue in the process.

Satin Exchange provides access to low fee swaps, revenue share, auto-bribes and more, using an interest-bearing stablecoin, $CASH, as the base token in most pairs.

Here are some of the most prominent features that Satin Exchange offers:

Integration of a yield-bearing stable into LPs and veNFT

Claimable $CASH rebases in $veSATIN

Claimable $CASH rebases in $CASH LP pairs

Trading with $CASH has 50% discounted trading fees

Low fees Stable 0.01% / Volatile 0.2%

4pool ($USDC/$USDT/$DAI/$CASH) for deeper stable liquidity

Autobribes built in the $CASH pairs

veSATIN has a variable lock period 1day-365days

Satin Exchange mechanics reflect a combination of a few DeFi concepts: Vote Escrow, Staking / Rebasing / Bonding or (3,3) game theory and LP Governance Power

Satin Exchange uses two tokens to manage its utility and governance: $SATIN — ERC-20 utility token of the protocol $veSATIN — ERC-721 governance token in the form of an #NFT (non-fungible token)

$SATIN is used for rewarding liquidity providers through emissions, while #veSATIN is used for governance.

$SATIN has a max supply of 25,000,000,000 tokens, with 65% allocated for community rewards, and 15% for future development.

Satin's unique ve(3,3) mechanism rewards behaviors conducive to its success, such as liquidity provisioning and long-term token holding, providing a solution that addresses the current pitfalls and tradeoffs in incentivizing liquidity in DeFi protocols.

Liquidity providers receive $SATIN emissions, and $veSATIN holders receive protocol fees, bribes, rebases, Satin LP emissions and governance power.

Satin Exchange is building on the groundwork laid out by Solidly, Thena, Velodrome, etc., and has successfully designed a totally unique mechanism that adds to the utility of $CASH.

The official public sale of $SATIN has come to an end and the results are impressive. Let's dive into the details:

Public Sale Recap:

The initial funding goal of $200K at a $10M valuation was surpassed by $12.4M.

The sale was active for 10 days and used an overflow model to be fair to everyone $SATIN tokens secured from the Public Sale will be linearly vested for 12 weeks starting on February 25th

All back-owed $SATIN tokens will be available at the launch of Satin DEX, which users can lock into veSatin and vote for their favorite gauges

Airdrop of 12-week expiring veNFT positions will be given to anyone who secured $SATIN during the Public Sale

Public Sale Outcome:

The total raise was $12,602,284.37, nearly 63x the initial goal

After the oversubscription, the remaining $CASH tokens were refunded to their owners

Several big-name DeFi VCs approached the team about buying up tokens, but 100% of supply was spoken for

Follow-On Sale Details:

Repurposing some of the tokens from the infinite tail emissions beyond 10 years will free up over 1 billion tokens

These tokens will be used upfront to make the protocol even better and more sustainable

It will put a hard stop on emissions after 10 years

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