3 months ago 2 min read

On January 9, Yield Market Protocol Timeless will Launch its Token


On January 9, 2023, yield market protocol Timeless will introduce Liquidity Incentive Token (LIT), its new token.

LIT is the foundation of the Timeless Bunni liquidity engine, which attempts to boost liquidity on Uniswap v3. The protocol hopes to enable other projects to reward the liquidity of their tokens with orders of magnitude more capital efficiency than is currently feasible by introducing LIT. It also plans to use LIT itself to increase liquidity for the Timeless yield markets.

Bunni became initially accessible as a public utility in October 2022, reflecting Uniswap v3 liquidity positions as fungible ERC-20 tokens as opposed to NFTs. The ease of use of ERC-20 tokens allows for the creation of incentive schemes that are more intricate for Uniswap v3 liquidity.

There are one billion LIT in circulation, and they are distributed as follows.

  • Population: 72%
  • on a four-year halving plan, 45% were distributed as gauge awards.
  • 11% is kept in the local treasury.
  • 10% of sales were made via the liquidity bootstrapping pool (LBP)
  • 5% given via a staking pool to holders of veMPH over a 4-year period.
  • 1% airdropped to active Uniswap v3 LPs (75%) and early Timeless & Bunni users (25%)
  • 25% will vest over 4 years in the team.
  • Investor: 3% of the seed round was sold, with a 6-month cliff and a 1-year vesting period.

The launch of Bunni liquidity incentives is scheduled for January 18, 2023. In addition, the public can get LIT through our LBP, which will start at noon on January 9, 2023 (Pacific Time), and last for seven days. On January 25, 2023, the veMPH staking pool and airdrop will begin.

Perpetual Yield Tokens (PYTs), which grant their holders a perpetual right to claim the yield created by the underlying concept, are offered by Timeless, a yield tokenization protocol. Additionally, Timeless provides Negative Yield Tokens (NYTs), a native protocol with way too low yield rates.

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