What is Carrots (CRT)?
CRT is an experiment in decentralized finance on Arbitrum, greatly inspired by the works of EGGS on the Ethereum network. CRT supply debase (decrease) by 0.001% every block which is around 7% per day.
What consequences does this have?
The rebase era is over but CRT will spike a new revolution with debase tokens. The debase will increase the value of your CRT automatically if nobody sells. How is that possible? Remember that each debase also affects LP. So less CRT in LP over time but same amount of ETH. The ponzinomics are strong my carrot loving friends.
What is the tokenomics of CRT?
- Initial Supply: 3,324,324,324,357 CRT
- All LP tokens will be burnt on launch
- Initial liquidity for LBP will be provided by team. (On the completion of the LBP, tokens will be added to Camelot DEX and then LP tokens will be burnt.)
CRT tokens are debased every block with a 0.001% rate which is around 7% a day. To compensate a little for this decrease you can stake your tokens in either LP or Single-Sided vaults and get rewards. Rewards will only get debased upon claim!
Depositing or claiming will incur 12 hours lock on withdrawals. Depositing or claiming will not extend the timer but the timer will reset with another 12 hours. The debase is happening for the whole token supply including CRT tokens in vaults and CRT tokens in LP. Since CRT tokens in LP also gets debased the amount of CRT tokens will decrease but the amount of ETH will remain the same. That's the beauty of it since the price of CRT tokens will continue to increase if no one is selling and ETH is stable.