The ForkSwap Project

Origin

We are early participants in the SUSHI community. We decided to make another SushiSwap to BSC due to the high gas fee on Ethereum. Late for the party.

FORK TOKEN

FORK is an ERC20-compatible token with a fixed supply (250M) that governs ForkSwap. FORK holders can make proposals and vote to change the protocol via governance.

Token Distribution

We are aware that many of us are existing liquidity providers in Pancake pools. With that, we have designated the token distribution mechanics to make it as easy as possible for the existing Pancake liquidity providers to start migrating to our protocol!

To start providing liquidity and earning FORK tokens, anyone holding Pancake LP tokens can stake those LP tokens into the corresponding initial list of pools. Once done, they will start earning tokens once rewards start on block 5090500. The list of eligible LP tokens can be added per on-chain governance. So any of us can decide.

The FORK tokens at every block, 3 FORK tokens will be created. These tokens will be distributed equally to the stakes in each of the supported pools. And the reward reduces to 75% per month.

However, For the first 400000 blocks (~2 week), the amount of FROK tokens produced will be 10x, resulting in 30 FORK tokens being minted per block. This is to incentivize early farmers and adopters of the protocol and to help in The Liquidity Migration™️.

The initial set of available pools:

FORK-USDT:15X
WBNB-BUSD:4X
BTCB-WBNB:2X
AUTO-WBNB:2X
ETH-WBNB:2X
USDT-BUSD:1X
DOT-BUSD:1X
VAI-BUSD:1X
WBNB-UNI:1X
USDT-WBNB:1X

Reward Distribution

With the current Pancake configuration, 0.3% of all trading fees in any pool are proportionately distributed to the pool’s liquidity providers. In Forkswap, 0.25% go directly to the active liquidity providers, while the remaining 0.05% get converted back to FORK (obviously through ForkSwap) and distributed to the FORK token holders.

Ensuring Project Sustainability (aka. Dev Fund)

Let’s ensure the long-term viability and sustainability of the project. 10% of every FORK distribution is set aside for developers. The dev fund is set to a 12h time lock smart contract. No need to worry “chef dump”.

The Liquidity Migration™️

Around the first 400000 blocks from the protocol’s inception (~2 weeks), we will migrate all the liquidity tokens staked onto ForkSwap contracts. This migration will involve taking all of the Pancake LP tokens staked on ForkSwap, redeeming them on Pancake for the respective token pairs, and initializing new liquidity pools from those tokens. These new pools will almost be identical to the standard Pancake pool, with the added feature that any fees accrued will be distributed to FORK token holders through the logic outline above.

Once the migration is done, the liquidity converted will be fueling the first sets of ForkSwap pools and will bring the protocol into operation immediately. The stakes need to do nothing but will continue to receive FORK token rewards from providing liquidity going forward.

Contract

FORK TOKEN: 0x6f92f9BB42033FDb14cDDFf44a70A9135584373A