Decentralized exchange (DEX) Hercules, known for offering real yield and customizable liquidity infrastructure, is set to launch its native token, TORCH. With this sale, TORCH token holders will get access to long-term yield powered by platform fees. This will mark a sharp contrast from most popular protocols like Uniswap, giving Hercules users a large share in the DEX’s success.
Moreover, in the DeFi world, protocols generally incentivize liquidity providers (LPs) with protocol-owned tokens, which are released evenly to LPs. This leads to a constant devaluation of the token as LPs tend to sell these tokens to compound their positions in an attempt to earn even more tokens.
To solve this issue, Hercules is utilizing Camelot’s proven dual-token model, which allows it to make such a monumental, community-focused move. This means users will be able to access real, long-term yield by providing liquidity and/or holding xTORCH, the escrowed TORCH.
Interestingly, Hercules also offers the ability to increase earning capabilities by locking up liquidity for a maximum of six months.
The DEX generates revenue using dynamic and directional fee mechanics. This approach allows it to capture not just a healthy but also a viable flow of revenue, in contrast to the wild world of DeFi, which has been riddled with artificial and unsustainable yields.
Hercules leverages Camelot’s codebase. The native Arbitrum DEX has enjoyed $16 bln in volume since launch, over $18 mln generated in fees, giving $15 mln back to LPs, and distributing $3.3 mln in dividends to its token holders.
Hercules aims to replicate its success on the Metis Andromeda Layer 2 network.
A Golden Opportunity: TORCH Token Sale
Built for the Metis Layer 2 ecosystem, Hercules gives both users and builders access to liquidity to navigate and take advantage of the modern DeFi space. In less than a month, the protocol has garnered nearly $10 mln in TVL and generated $100,000 in fees, most of which is paid to LPs.
Now, to further reward its users, the platform is offering its TORCH token for sale, which will happen across several phases.
The TORCH sale will begin this week with a three-stage whitelist sale round, followed by a first-come, first-served, fully public sale round.
The raise will be in METIS tokens on the Metis Andromeda network. The public sale round has a $1 million METIS cap, so once the protocol has achieved this number, the sale will end there.
Already, there is a lot of excitement around the token launch thanks to the platform’s plan to reward its users through the token. As stated above, the escrowed version, xTORCH, is used by Hercules to support a flexible value-access mechanism. With TORCH, users can easily convert them into xTORCH and then allocate them to Launchpad, Yield Booster, and Dividends to collect platform fees and more.
This is not all, though; Hercules’ plan is to turbocharge its platform, and it involves employing deflationary mechanisms.
So, to participate in this rewarding sale on April 18, head to the Hercules Launchpad and get ready to grab some TORCH tokens.
