Welcome to JEM 💎 Mountain
Konnichiwa gamers 🕹️! In this post we’ll be releasing key information about Liquidity Mining Program I (LMPI), which includes: distribution amounts, dates, pairs and target APYs. Happy mining ⚒️️!
Come travel to $JEM 💎 Mountain on Sunday November 8th at 12pm EST. $JEM Mountain is Itchiro’s mining location 😉. Our mining pools will be made available for $JEM 💎 holders looking to provide liquidity on the JEM/ETH V2 pool on Uniswap. You can find the JEM/ETH liquidity pool here:
For the upcoming mining program, you’ll need to purchase $JEM 💎 tokens. If you haven’t bought them yet, you can purchase them in the link below:
Our team will provide a step by step tutorial on how to add liquidity to the JEM/ETH LP pool and deposit the LP tokens into our mining interface.
Let’s get started 👷!
⚒️ Distribution Summary
Here’s a quick recap before we begin. For a full economics breakdown check out our intro post.
- Total Supply of $JEM 💎: 30,000
- Allocation for Liquidity Mining I, II and III: 10,500 $JEM 💎 (35% of supply)
- Allocation for LMPI: 3,500 (~11.67% of supply)
Liquidity Mining Program I (LMPI)
Our first liquidity mining program (LMPI) is one of three programs. Each program will distribute 3,500 $JEM 💎. The lifespan of each program is roughy one year (or when the mine runs out of tokens). Through this method, we can expect the following distribution from November 2020 till November 2023:
- LMPI — 2020/2021: 3,500 $JEM 💎
- LMPII — 2021/2022: 3,500 $JEM 💎
- LMPIII — 2022/223: 3,500 $JEM 💎
We’ve designed the distribution of $JEM 💎 in such way where LP mining is not a a high risk, high rewarding investment — but a tool for community members to support Itchiro’s game ecosystem, while their $JEM 💎 appreciates over time.
The best part is, we designed our economics so that the rate at which our token is appreciating (through cashflow) is always higher than the rate at which tokens are being distributed at any point in time.
Our whole motto is to build long-term value, with long-term community members.
💎 JEM Mountain
Liquidity Mining Program I (LMPI) is set to start this upcoming Sunday! Here’s breakdown of everything you need to know to prepare yourself for $JEM 💎 mining:
$JEM 💎 holders.
3,500 $JEM 💎 tokens will be distributed throughout a year to $JEM 💎 holders who provide liquidity on the JEM/ETH V2 pool on Uniswap.
- Start Date and Time: Sunday November 8th, 2020 at 12pm EST
- End Date and Time: November 8th, 2021 at 12pm EST (or when the mining contract runs out of tokens).
Liquidity Mining Program I (LMPI) is split into phases: 1) $JEM 💎 Ore Mining and 2) $JEM 💎 River Panning.
$JEM 💎 Ore Mining
Target APY: ~3,000
Amount: 125 $JEM 💎
Distribution Period: 72 hours
Start: November 8th, 2020 at 12pm EST
End: November 11th, 2020 at 12pm EST.
$JEM 💎 River Panning
Target APY: ~20%-70%
Amount: 3,375 $JEM 💎
Distribution Period: 362 days
Start: November 11th, 2020 at 12pm EST
End: November 9th, 2021 at 12pm EST
We believe in mining with friends. We’re currently working on a number of partnerships that allow $JEM 💎 holders to use their tokens in other liquidity pools. These will be announced on an ongoing basis. In the meantime, here’s our initial LP mining pairs for Itchiro Games:
- $JEM / ETH
- $JEM / $ENOKI
🔒 Liquidity Locking
All JEM/ETH LP V2 token transfers into our mining contract will be locked for 30 days.
This has been designed to prevent large ETH and $JEM 💎 holders from taking advantage of the higher APYs at the start, which can then motivate them to oversell (dump) $JEM 💎 tokens and destabilize price appreciation.
We’ve also set ourselves to develop a novel mechanism that will be made public towards the end of November, where $JEM 💎 holders can choose between 30, 60, 90 and 120 day lockups periods and receive a multiple on their APY.
💬 Social Media
Below are some important links to keep you updated with everything we announce.
We are also looking for community and marketing managers to join the team, please ping @defimario on Telegram if this is you or have a candidate in mind.