I’m trying to free your mind, Neo. But I can only show you the door. You’re the one that has to walk through it.
DEX and $PILLS Launch October 30th
We are excited to announce the EARLY release of our DEX on October 30th alongside $PILLS, our governance and revenue share token.
Morpheus Swap will provide low cost transactions on our DEX with a fee of 0.15%, approximately 50% cheaper than standard swaps. Liquidity Providers (LP) will earn $MORPH tokens, which will be used to mint $PILLS. The bulk of emissions will be directed toward LPs. Neo Pools will require $PILLS for staking; $MORPH will no longer be used for staking.
What are Neo Pools?
Revenue share! 60% of revenue is directed to the Neo Pools wallet, a separate wallet under multi-sig control. Currently, four different tokens are cycled as a Neo Pool, each lasts 7-days, allowing you to earn the token of the pool you’ve staked in. Neo Pools have featured tokens such as: $SPELL, $ICE, $MIM, $YFI, $wFTM, $SCREAM, and many others.
$PILLS
On October 30th, we will announce when the DEX is live and the swapping of $MORPH for $PILLS can begin. We will be offering approximately a five (5)-day window to swap from $MORPH to $PILLS at a 1:1 ratio. After this period, the 0.3 ratio increase every thirty (30)-days begins.
NATIVE FARM:
$PILLS-$MIM will be our primary liquidity pool. This decision supports efforts to create stable and deep liquidity for $PILLS in a single pool. Additionally, we are able to redirect a portion of emissions to LPs by consolidating into one liquidity pool. Treasury will provide initial liquidity for $PILLS-$MIM and aims to increase its position within the pool, with the eventual goal to end rewards for $PILLS-$MIM once sufficient liquidity is established by Treasury.
NON-NATIVE FARMS:
At launch, new farms(LPs) will be live on the app, replacing all old farms, and rewards will be transferred from current farms to the new farms. You will need to un-stake from the old farm, migrate your LP tokens to Morpheus Swap, receive “mLP”, which you can then stake into the new farm correlating with your LP to earn rewards.
Please note: not all current farms will be offered. We will announce which FARMS will be offered at launch.
POOLS:
Single-side pools are a luxury and have been enjoyed by many in the community. We are excited to announce we will be retaining single-side staking, albeit a smaller offering. At launch, a number of pools will continue receiving rewards, while others will end. We will announce the list of pools which will continue to be offered at launch.
DEPOSIT FEES:
2% deposit fees remain for all non-native POOLS and FARMS. Neo Pools will not have a deposit fee. Morpheus Swap has provided consistently high rewards both in $MORPH emissions and via Neo Pools. Deposit fees, like all revenue, are distributed to the Neo Pools wallet, which funds Neo Pools. Revenue share regardless of source is set at 60%, an increase originally from 40%. Deposit fees discourage farming and dumping and are typically earned back quickly.
Additional Information:
Current liquidity pairs of $MORPH-$FTM and $MORPH-$MIM will continue to earn rewards until $PILLS launch. At that time, you can separate your LP, use the $MORPH to mint $PILLS, then you can create $PILLS-$MIM LP on Morpheus Swap, receive mLP tokens after staking, then stake your mLP token into the $PILLS-$MIM farm to earn rewards. Current Neo Pools allow for $MORPH staking.
The $MIM Neo Pool has been renewed for 48-hours and will expire on the 30th along with the $ICE Neo Pool. A few hours after people have had time to swap $MORPH for $PILLS, we will release two Neo Pools that require $PILLS. The $wFTM and $SPELL Neo Pools will continue until they end, which require $MORPH. Once those finish, they will be replaced with Neo Pools that require $PILLS.
At this point, you may have many questions as to how this transition process will happen. You may be feeling anxious, excited, etc. First and foremost, patience and calmness are expected from our community. We have been building strong ties with community members in our Discord, who have been appointed with the “Red Pill” role (a play on the red pill within the movie our theme is based on; there are no other associations). These individuals along with our wonderful “Moderators” will assist you with any questions you may have AFTER reading this entire post. Please, be kind to them, and be patient!
Grab a glass of water, because we’re taking the red pill.
