[ANN] SUKU Ecosystem (Supply Chain DeFi) ERC-20 with liquidity mining
Note: I am not affiliated with the team or getting paid for any of this. I found the project 2 days ago. Just decided to re-post since their original announcement was in 2019 without a discord server and their token had not launched. As of 8/3/2020 they have now launched a token. I've created a discord server for the community. I am not vouching on behalf of their project, only trying to contribute information to the bitcointalk community. DYOR please!
Original announcement from 2019: https://bitcointalk.org/index.php?topic=5164272.0 Note:There are no details of the token listed on this announcement.
Discord server link: https://discord.gg/4PvYKJh
Telegram: https://t.me/SUKUecosystem
Facebook: https://www.facebook.com/SUKUecosystem/
Linkedin: https://www.linkedin.com/company/suku-ecosystem/
Medium: https://medium.com/sukuecosystem
Reddit: https://www.reddit.com/r/SUKUecosystem/
Youtube: https://www.youtube.com/channel/UCa2HBoUANI3H2EgD-feHDqQ
TOKEN STRUCTURE AND DETAILS
Total SUKU Supply: 1,500,000,000
Launched: 8/3/2020
Decimal: 18
Smart Contract Link: https://etherscan.io/token/0x0763fdCCF1aE541A5961815C0872A8c5Bc6DE4d7
Uniswap Pool: https://uniswap.info/pair/0xfc74ecdee4e9fff2f2ef4cdf4f1c777b2ef0e905
Initial Listing and Liquidity Mining: Approximately 2.3% has been allocated to the initial listing and liquidity mining to launch the SUKU Token.
Trading Partners: Approximately 28% of the total token supply has been reserved for Trading Partners to assist in the growth of the SUKU Ecosystem. Of the total Trading Partner tokens, there has been 18% allocated to existing partnerships, which include suppliers, warehousing, retailers and distributors.
Technology Partners: Approximately 26.8% of the total token supply has been reserved for partnerships with technology companies to help grow the SUKU ecosystem. Of the total Technology Partner tokens, 6% has been allocated to existing partnerships, which include supply chain, CGI, and other technology partners where synergies exist between our platforms.
Operations: 20% has been reserved to fund the future development of the SUKU Ecosystem. None of these tokens will be a part of the initial circulating supply.
Private Sales: 12.9% has been sold through private token sales at a price of approximately $0.067 per token for a total of ~$13M. All of these tokens are locked up at the time of the initial listing(s), and will not be a part of the circulating supply.
Team: 10% has been reserved for the founding team with traditional vesting schedules. None of these tokens are a part of the circulating supply at the time of the initial listing(s).
Total Circulation at Launch: 2.51%
Note: The individual token reserves are managed off-chain, collectively stored by this https://etherscan.io/address/0xc05ec5235ce6050375adce1f86bbec949c3c366f.
Liquidity Mining Campaign - Live Now!
SUKU’s Liquidity Mining Campaign went live on August 3rd at 7:30PM PST. As part of the campaign, Liquidity Providers ("LPs") will receive 400,000 each week for an 8 week period. As of 8/5 (12:00 EST) that’s over $164,000 in weekly rewards. Join the SUKU/ETH Uniswap pool to start participating. SUKU’s liquidity mining campaign is not intended for United States persons. Read the details below for the campaign terms.
Note: The initial 1,277 ETH and 5,088,837 of SUKU liquidity used to create the pool will not be factored into the rewards distribution. Rewards are for our community only!
LPs who provide liquidity for longer durations will receive the following multipliers:
1 week: 1x weight
2+ weeks: 2x weight
4+ weeks: 3x weight
At the end of each reward period you will get a proportion of the rewards equal to your adjusted weight (AW) in the pool. Your AW is calculated by taking your liquidity weight (LP% of Uniswap Pool) and multiplying it by your reward multiplier. See formula below:
Terms of the Liquidity Mining Campaign:
THE LINK BETWEEN OPEN FINANCE, TRACEABILITY, AND TRANSPARENCY
At SUKU, our priority for the past 3 years has been helping brands and retailers produce more transparent products through decentralized traceability. Our traceability platforms have helped Fortune 500 and other large retailers increase sales by better connecting with the conscious consumer.
Consumers want to purchase from and connect with ethical and transparent brands, they want to give back to the communities that are involved in the production process, and ultimately they want to be a part of the story. Blockchain has given us the opportunity to move from consumerism based on trust to systems based on transparency. With blockchain, consumers don't need to trust labels or stories as they can verify the product claims.
The most challenging part has been convincing the smallest participants within the supply chain to give the network traceability inputs. For example, a coffee brand may have hundreds of thousands of small farmers with very limited access to technology and no access to financial services. With their limited resources, you can imagine that asking them to change their day to day processes would be nearly impossible.
As suppliers inputs are key, how do we incentivize them to provide these inputs?
TRANSPARENCY MINING WITH SUKU
We are excited to introduce "Transparency Mining", which is the act of mining SUKU by providing supply chain inputs for products. Our goal is to make DeFi mainstream by rewarding suppliers with SUKU when they send the network data. Suppliers will have the opportunity, through SUKU, to use tokens they accumulate to get micro loans in stablecoins which are being provided by decentralized finance (“DeFi”) protocols. In many cases, this will be the first time these suppliers have access to micro lending.
Through our long-term focus on traceability, we are uniquely positioned to bring real users to DeFi. We have been providing traceability solutions to our clients, and these clients usually have a larger network of participants, who could benefit from micro loans as they are in an underserved market.
HOW DOES IT WORK?
Let's explore an example of how our DeFi solution may work:
Juan is a coffee farmer in Colombia. He has never had access to any financial infrastructure, nor a banking account. If Juan could access additional capital, it would have a positive impact on his business or day to day. With our solution, Juan could receive SUKU tokens as rewards for the product traceability info he provides. At the end of the month, Juan accumulated $20 worth of SUKU tokens and now can receive a $10 stablecoin loan by collateralizing his SUKU, without filling out an application. When the term of the loan is up, he can return the borrowed money (getting his SUKU tokens back) or ask for a bigger loan using the new SUKU tokens accumulated that month.
Original announcement from 2019: https://bitcointalk.org/index.php?topic=5164272.0 Note:There are no details of the token listed on this announcement.
Discord server link: https://discord.gg/4PvYKJh
Telegram: https://t.me/SUKUecosystem
Facebook: https://www.facebook.com/SUKUecosystem/
Linkedin: https://www.linkedin.com/company/suku-ecosystem/
Medium: https://medium.com/sukuecosystem
Reddit: https://www.reddit.com/r/SUKUecosystem/
Youtube: https://www.youtube.com/channel/UCa2HBoUANI3H2EgD-feHDqQ
TOKEN STRUCTURE AND DETAILS
Total SUKU Supply: 1,500,000,000
Launched: 8/3/2020
Decimal: 18
Smart Contract Link: https://etherscan.io/token/0x0763fdCCF1aE541A5961815C0872A8c5Bc6DE4d7
Uniswap Pool: https://uniswap.info/pair/0xfc74ecdee4e9fff2f2ef4cdf4f1c777b2ef0e905
Initial Listing and Liquidity Mining: Approximately 2.3% has been allocated to the initial listing and liquidity mining to launch the SUKU Token.
Trading Partners: Approximately 28% of the total token supply has been reserved for Trading Partners to assist in the growth of the SUKU Ecosystem. Of the total Trading Partner tokens, there has been 18% allocated to existing partnerships, which include suppliers, warehousing, retailers and distributors.
Technology Partners: Approximately 26.8% of the total token supply has been reserved for partnerships with technology companies to help grow the SUKU ecosystem. Of the total Technology Partner tokens, 6% has been allocated to existing partnerships, which include supply chain, CGI, and other technology partners where synergies exist between our platforms.
Operations: 20% has been reserved to fund the future development of the SUKU Ecosystem. None of these tokens will be a part of the initial circulating supply.
Private Sales: 12.9% has been sold through private token sales at a price of approximately $0.067 per token for a total of ~$13M. All of these tokens are locked up at the time of the initial listing(s), and will not be a part of the circulating supply.
Team: 10% has been reserved for the founding team with traditional vesting schedules. None of these tokens are a part of the circulating supply at the time of the initial listing(s).
Total Circulation at Launch: 2.51%
Note: The individual token reserves are managed off-chain, collectively stored by this https://etherscan.io/address/0xc05ec5235ce6050375adce1f86bbec949c3c366f.
Liquidity Mining Campaign - Live Now!
SUKU’s Liquidity Mining Campaign went live on August 3rd at 7:30PM PST. As part of the campaign, Liquidity Providers ("LPs") will receive 400,000 each week for an 8 week period. As of 8/5 (12:00 EST) that’s over $164,000 in weekly rewards. Join the SUKU/ETH Uniswap pool to start participating. SUKU’s liquidity mining campaign is not intended for United States persons. Read the details below for the campaign terms.
Note: The initial 1,277 ETH and 5,088,837 of SUKU liquidity used to create the pool will not be factored into the rewards distribution. Rewards are for our community only!
LPs who provide liquidity for longer durations will receive the following multipliers:
1 week: 1x weight
2+ weeks: 2x weight
4+ weeks: 3x weight
At the end of each reward period you will get a proportion of the rewards equal to your adjusted weight (AW) in the pool. Your AW is calculated by taking your liquidity weight (LP% of Uniswap Pool) and multiplying it by your reward multiplier. See formula below:
Terms of the Liquidity Mining Campaign:
- The rewards and campaign are not intended for United States persons.
- The campaign runs for 8 weeks with a weekly reward cadence. The first reward period will be August 3rd, 2020 to August 10th, 2020 11:59 AM EST, with subsequent periods starting immediately after the prior period closes (e.g., period 2 starts on August 10th, 2020 12:00 PM EST).
- Rewards will be paid out in SUKU after the end of each reward period, so the first payout will occur before August 11th (EST).
- To be eligible for any rewards, your liquidity needs to be in the pool for the entire duration of the reward period, excluding the initial period where liquidity must be provided on or before August 8th 12:00 AM EST.
- Any liquidity removed from the pool during the reward period will not be counted.
- Rewards are for Uniswap SUKU/ETH pool only.
- The initial 1,277 ETH and 5,088,837 of SUKU used to create the pool will not factor into the formula (i.e., rewards are for new LPs).
- To be eligible, an LP must provide at least 0.25 ETH in liquidity.
- SUKU Global reserves the right to change the campaign at its sole discretion.
THE LINK BETWEEN OPEN FINANCE, TRACEABILITY, AND TRANSPARENCY
At SUKU, our priority for the past 3 years has been helping brands and retailers produce more transparent products through decentralized traceability. Our traceability platforms have helped Fortune 500 and other large retailers increase sales by better connecting with the conscious consumer.
Consumers want to purchase from and connect with ethical and transparent brands, they want to give back to the communities that are involved in the production process, and ultimately they want to be a part of the story. Blockchain has given us the opportunity to move from consumerism based on trust to systems based on transparency. With blockchain, consumers don't need to trust labels or stories as they can verify the product claims.
The most challenging part has been convincing the smallest participants within the supply chain to give the network traceability inputs. For example, a coffee brand may have hundreds of thousands of small farmers with very limited access to technology and no access to financial services. With their limited resources, you can imagine that asking them to change their day to day processes would be nearly impossible.
As suppliers inputs are key, how do we incentivize them to provide these inputs?
TRANSPARENCY MINING WITH SUKU
We are excited to introduce "Transparency Mining", which is the act of mining SUKU by providing supply chain inputs for products. Our goal is to make DeFi mainstream by rewarding suppliers with SUKU when they send the network data. Suppliers will have the opportunity, through SUKU, to use tokens they accumulate to get micro loans in stablecoins which are being provided by decentralized finance (“DeFi”) protocols. In many cases, this will be the first time these suppliers have access to micro lending.
Through our long-term focus on traceability, we are uniquely positioned to bring real users to DeFi. We have been providing traceability solutions to our clients, and these clients usually have a larger network of participants, who could benefit from micro loans as they are in an underserved market.
HOW DOES IT WORK?
Let's explore an example of how our DeFi solution may work:
Juan is a coffee farmer in Colombia. He has never had access to any financial infrastructure, nor a banking account. If Juan could access additional capital, it would have a positive impact on his business or day to day. With our solution, Juan could receive SUKU tokens as rewards for the product traceability info he provides. At the end of the month, Juan accumulated $20 worth of SUKU tokens and now can receive a $10 stablecoin loan by collateralizing his SUKU, without filling out an application. When the term of the loan is up, he can return the borrowed money (getting his SUKU tokens back) or ask for a bigger loan using the new SUKU tokens accumulated that month.