Tavern Goer
What is $RUM?
Rum was created by the DAO to help incentivise liquidity for the game. The token is a premium currency used to mint exclusive rewards in the DPS universe.
Rum will be paid out as rewards for: TMAP <-> Doubloon
Doubloon <-> MOVR / ETH (depending on chain)
What is $RUM used for?
$RUM holders will be able to redeem $RUM for other Pirateverse assets such as room upgrades.
Why not just offer $TMAP and/or $Doubloons?
By giving liquidity providers $TMAP or $Doubloons as rewards you create downward sell pressure on assets as people look to convert those rewards into cash. By offering a different asset we look to protect the value of these currencies.
Why should I provide LP?
As we grow as a project we want people to have an easy on ramp to the game. The goal is that Doubloons are the currency of the Pirateverse and having a Doubloon <-> MOVR/ETH pool gives players an easy on ramp.
From there they can purchase TMAP from the TMAP <-> Doubloon pool to go on voyages. Using any spare doubloons to acquire upgrades and support ships.
NFT projects are a collective effort by all involved, just like guilds in WoW or ESO. By offering $30 or $50 of LP, you help lower slippage and create a better experience for all. When everyone is working together for the long term health of the project, the project is much stronger.
What are the risks?
The main risk when providing liquidity is impermanent loss. When you provide liquidity to a pool you take the current swap rate and provide assets in that ratio. As the price fluctuates you will be able to withdraw more of one than the other.
E.G If you add 100 $TMAP and 3000 $Doubloons and the $Doubloon Prices increase vs $TMAP, when you come to remove liquidity you might receive 150 $TMAP and 2000 $Doubloons.
Dao Owner Liquidity
The DAO will be utilising its assets to provide liquidity to the pool for two reasons.
Deeper liquidity providers less slippage for players and a better game experience.
The reward from $RUM rewards will allow the treasury to collect NFTs that can be auctioned or used as giveaways for the community and is the first step in generating revenue for the treasury.
If anybody wishes to donate small amounts of $TMAP, $Doubloons, $RUM or $LP to the treasury it would be greatly received
(Moonriver Treasury Address: 0x85E3A9A05d5e37778ee4559673F7c4F3ACb831b1).
How to Add LP
Click Add
Choose asset 1 as Doubloon
Choose asset 2 as either MOVR or TMAP
Select the amount of Doubloons you wish to add
The DAPP will select the appropriate amount of MOVR or TMAP for you
Approve Tokens
Confirm adding liquidity
Next go to https://app.solarbeam.io/farm
Search for Doubloon
Select the appropriate farm and approve
Add Max liquidity and confirm
Stake that liquidity to start earning $RUM
Wait for that $RUM balance to grow!
Now go out there and get your rum, ye scurvy dogs!
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