Honeyswap on xDai

Supported Liquidity Pools

Honeyswap on xDai uses the Uniswap v2 contracts for pooling liquidity. All pools have a 0.3% swap fee, of which 5/6 go directly to Liquidity Providers involved in the swap. The remaining 1/6 is split evenly between buybacks of Honey and xComb.

xComb Token

The xComb token is the local incentive token for Honeyswap on xDai.

The value of xComb is derived from trading activity that occurs on Honeyswap on xDai through automated buybacks tied to swap fees. Half of the repurchased xComb tokens are burned, the other half recycled back into the Farming mechanism for future distribrution. The xComb token has a fixed supply, which will become deflationary as a result of half of the xComb buybacks being burned.

xComb Supply and Emissions

The total fixed supply of xComb tokens is 1,000,000. An initial airdrop of 5% of the total fixed supply was airdropped to existing Honeyswap Liquidity providers proportional to the amount time and liquidity value contributed to Honeyswap prior to the airdrop. 10% of airdropped tokens are immediately liquid, and the other 90% are released continuously over 6 Months .

The remaining 95% of the xComb supply is scheduled to be distributed via farming over the course of 2 years, the emission rate decays linearly such that by the end of the initial emmission period the rate is 25% of the initial rate.

1% of the xComb emissions can be earned by referring people to the farms, encouraging people to integrate and promote the farms. The remainder of emissions are split between honeyswap pairs proportionally to their allocation points. Allocation points will be adjusted over time to curate the available liquidity in order to attract traders and maximize volume on the exchange. The following table shows the current distribution of allocation points among pairs:

Pair

Points

xDAI-xComb

20

xDAI-HNY

5

xDAI-AGVE

5

HNY-AGVE

3

HNY-WETH

3

xDAI-STAKE

2

xDAI-LINK

2

WETH-WBTC

2

xDAI-WETH

2

USDC-xDAI

1

The pairs included in the farms will be adjusted over time, a framework for evaluating and adding additional pairs is being worked on. Stay tuned!

Governance

The Honeyswap AMM contracts are not upgradeable. Governance is limited to setting the fee reciever address.

The xComb token does not have any governance, it has a fixed supply and cannot be upgraded.

xComb farming contract is not upgradeable, but the xComb tokens held by the contract can be withdrawn to via governance in order to transition the farming rewards to a new contract. Governance of the farms has been split into two distinct roles using a wrapper contract.

Manager: Can add, remove, and adjust allocation points of pools.

Admin: Can change the manager address and initialize a migration by withdrawing xComb and unlocking all time-locked deposits.

Initially the Tulip swarm multisig will serve as the Manager, and 1Hive Decisions will control the Admin role.

Deployment Information

AMM Contracts

Honeyswap on xDai uses the Uniswap v2 AMM contracts.

UniswapV2Factory:0xA818b4F111Ccac7AA31D0BCc0806d64F2E0737D7ÔÇő

UniswapV2Router02:0x1C232F01118CB8B424793ae03F870aa7D0ac7f77ÔÇő

Farm Contracts

xCombToken: 0x38Fb649Ad3d6BA1113Be5F57B927053E97fC5bF7ÔÇő

xCombFarm: 0xB44825cF0d8D4dD552f2434056c41582415AaAa1ÔÇő

xCombFarm Governance Wrapper: 0xfBA19af3bE412E08AF9c7Cf60756d238D3cEAd25ÔÇő

xCombAirdrop: 0xdD36008685108aFafc11F88bBc66C39A851Df843ÔÇő

ReferralRewardManager: 0x82374C59709AAc2f7864191a3c492932379536F4ÔÇő

FeeReciever: 0xbA13a6414C677d9e7BD3c0BDE5BA4055BF2e72f7ÔÇő

Subgraphs

The deployment data is indexed by forks of two subgraphs:

ÔÇőUniswap v2 Subgraph: A fork of the official Uniswap v2 subgraph with adjustments to use xDai as the base currency and a modified set of whitelisted tokens. Source code can be found here.

ÔÇőEthereum Blocks: A fork of the Blocklytics Ethereum Blocks subgraph with no modifications, deployed for xDai. Source code can be found here.

Honeymaker

ÔÇőHoneymaker is an accompanying bot that periodically calls the takeProtocolFee() function on the FeeReceiver contract for selected pairs on Honeyswap to convert the LP fees earned to Honey and xComb.