CVP Proposal: HerculesDEX

Approved CVP
, , ,
1

Introduction of HerculesDEX

Website | Medium | Docs | Litepaper | Twitter | Discord | Telegram

Hercules is a community-first next-generation DEX bringing customizable liquidity infrastructure to expand the Metis ecosystem. It aims to become the ecosystem hub by offering builders all the resources required to get started, bootstrap liquidity, and uphold their growth on the network.

Built upon Camelot’s ethos and leveraging its advanced tech stack, Hercules brings cutting-edge features that enable a high degree of flexibility for both users and builders.

Hercules’ Feature Set and Utility

Hercules is a feature-rich DEX allowing a multitude of real yield options to the community:

  1. clAMM abstraction: Simplified integration of concentrated liquidity (clAMM) into the DEX flywheel to increase its adoption and efficiency.
  2. dAMM: Dynamic AMM supports volatile pairs like UniV2 and also includes support for correlated assets such as stable pairs.
  3. Directional fees: Customize swap fees based on the direction (buying or selling) to optimize liquidity strategies for protocols.
  4. Liquidity position NFTs: Yield-bearing spNFTs add composability and enhance capital efficiency.
  5. Precise user’s profile: Protocols can benefit from Nitro pools to reward their most loyal and committed LPs by setting specific requirements.
  6. Customized launchpad: A custom-built platform offering several token launch strategies including fair-launch, referrals, discounts, airdrop, whitelist, etc.
  7. Swap referral: The platform offers a whitelisted referral system to share swap fees to partner-integrators.
  8. Dual-token design: Two tokens, TORCH and xTORCH, enable flexibility for vesting and DEX profit sharing in the form of USDC and ETH.
  9. Deflationary mechanisms: Integrated burn mechanism in xTORCH and TORCH buybacks ensure long-term growth and sustainability.
  10. Ownership stake: Protocol owned-liquidity (POL) gets a share of Hercules benefiting from reducing emission cost, increasing their treasury, or building new flywheels.

Hercules Unique Value Proposition

  1. Community-first approach and real yield protocol: We prioritize the community by offering customized incentive structures aiming for sustainable tokenomics with a dual token model.
  2. Flexible platform for builders: Our custom-built platform provides a high degree of flexibility for builders to launch their project, bootstrap liquidity and target specific user profiles through Nitro Pools.
  3. Cutting-edge features and composability: HerculesDEX offers advanced features such as dAMM, clAMM, directional fees, liquidity position NFTs, customized launchpad, swap referral system, dual-token design, built-in deflationary mechanisms. These features enhance flexibility, capital efficiency, and incentivize participation.
  4. Sustainable liquidity and ecosystem grants: The platform ensures long-term sustainable liquidity for the Metis network by offering extra layers of utility (aka, plugins) and grants to builders commitment to expand the Metis Andromeda network.

Hercules’ Roadmap

Hercules’ roadmap is built primarily to help the Metis ecosystem achieve deep on-chain liquidity:

  1. Metis Ecosystem Genesis Pool (EGP)
  2. Pre-launch Partners Announcement (Olympic Circle)
  3. Hercules Genesis Pool (HGP)
  4. xMetis Staking Infrastructure
  5. Public Launch
  6. Liquidity Provisioning and TGE
  7. Hercules Grants

Audit Information

Hercules is built upon the Camelot battle-tested and audited codebase by Paladin, one of the most reputable firms in the business. The audit reports are available under this link.

Security

Hercules adds an additional layer of security by adopting multisig (multi-signature) to avoid the problems often associated with centralized single-key wallets. This ensures that funds stored on a multi-signature address can only be accessed when two or more signatures are provided simultaneously.

Token Utility

Hercules is based on a dual-token framework with limited supply. The two tokens are a unique feature of the DEX and play the following roles:

  • TORCH is Hercules’s native emission token.
  • XTORCH, its counterpart, is a non-transferable escrowed governance token.

Besides governance, users are able to allocate xTORCH to special contracts, called Plugins, to unlock extra utilities. The process consists of staking xTORCH into a central contract that will assign the deposited amount to a plugin chosen by the user.

This allows substantially greater composability, and to be able to integrate community or partners’ plugins while being able to leverage the allocated xTORCH with additional utilities (governance, airdrops, launchpad, yield booster…).

Conclusion

Overall, HerculesDEX is poised to drive the Metis ecosystem forward by offering innovative solutions, fostering community engagement, and providing a robust and flexible platform that spearheads growth for projects and provides new opportunities for builders and users alike.

Thank you for your consideration!

28 Likes
2

Great proposal Hercules. When do you plan to launch your DEX and token?

2 Likes
3

Hey rlntlss.eth
Thanks for dropping the questions.
The DEX is planned for the end of July, along with the token shortly after.

But that, we’ll launch the Metis Ecosystem Genesis Pool aiming to drive liquidity to existing protocols on the network, like Hummus, Aave, Tethys, etc.

3 Likes
4

What are the good strategies you would employ when you launch your token and DEX, that will allow Metisians and users benefit from?

1 Like
5

Hercules is giving two great opportunities:
1- Metis Ecosystem Genesis Pools, where the reward is the network native tokens (xMETIS) (details here).
2- Hercules Genesis Pools will reward in the platform token (xTORCH) + partner’s tokens.

As a strategy to give the best rewards to Metisians, all the genesis pools have only 10 days to deposit. But everyone is free to leave the pools whenever they want.

6 Likes
6

Hello,
Nice to see more projects coming to Metis eco!

While the proposal mentions that Hercules is built upon the audited Camelot codebase, it would be good to know more information about the specific security measures in place.
Can you elaborate on the multisig implementation? How many signatures will be required to access funds? How will the keys be managed?
Is there any public info about HerculesDEX team available?

1 Like
7

where to vote?
would really want to vote

2 Likes
8

Hey Jack

About the multisig implementation and security structure:

  • Team multisigs with 2/3 threshold to handle these operations:
    -Buy back & burn
    -Nitro recovery
    -DAO treasury
    -Factory/Pairs
    -Master/NFTPools
    -Dividends
    -YieldBooster
    -xTORCH
    -NitroPoolFactory/NitroPools

  • Ecosystem multisigs with 4/6 threshold. Members haven’t been selected yet, but they’ll be part of the Metis eco. They’ll sign for:
    -Reserve funds
    -POL
    -Ecosystem allocation
    -TORCH token
    -Partnerships vesting
    -Team vesting
    -Advisors vesting

The key management is up to each member of the multsig, but we recommend using hard wallet.
Team is anon for the public, but not for the partners.
Another thing, Hercules has a legal entity, and so we aren’t so anon. You got the idea.

3 Likes
9

Please, find here.

https://snapshot.org/#/metislayer2.eth/proposal/0xbc10946ab8399d42f9615dd67462b0077fbd657f35235392070704cb073aedac

10

Hey Hercules team, congratulations on the proposal, very interesting. I loved the graphics on the website!

Have you defined an estimated date of when you will launch your dApp? Will there be a presale for the token?

In the example charts I saw several pairs, but do you plan to have stablecoin pools as well?

I am looking forward to your response! Greetings

11

Thanks for dropping the questions Benjamin

  • The DEX dapp is expected by early August or sooner, it depends on the backend team.
  • We’ll do a token sale using the fair launch model. Everyone will pay the same price.
  • You can expect stablecoin and volatile pairs.

We’re really focused on bringing activities to the Metis ecosystem, supporting new builders and attracting projects from other ecosystems.

Feel free to join our discord or telegram.

2 Likes
12

Hello.

  1. How does HerculesDEX prioritize the community and ensure sustainable tokenomics with its dual-token model?
  2. How does HerculesDEX differentiate itself from other decentralized exchanges (DEXs) in terms of features and utility?
  3. How does HerculesDEX ensure long-term liquidity for the Metis network and support the expansion of the ecosystem?
1 Like
13

Great Proposal, love the Hercules roadmap

14

Great to see more projects join the community, I would like you to share more emphasis on community revenue-sharing mechanics.

15

What is the core concept of HerculesDEX

16

Great proposal, I can’t wait!

17

Great proposal Hercules. When do you plan to launch your DEX and token?

18

Great proposal Hercules. When do you plan to launch your DEX and token.

19

let seee what is cocking

20

continue with good work hercules