Announcing the Spartan Protocol

A Protocol for incentivised liquidity and synthetic assets on the Binance Smart Chain

The Spartan Protocol provides incentives to enable deep capital formation in liquidity pools, with safe and sustainable creation of synthetic assets.

Overview

The Spartan Protocol will be the first major liquidity project on the Binance Smart Chain. Supported both by Binance, as well the holders of tokens from 30 existing Binance Chain projects.

The protocol includes the following:

SpartanSwap — an automated-market-maker (AMM) protocol with liquidity sensitive fees and a common settlement asset
SpartanSynths — a mechanism for minting synthetic assets on Binance Smart Chain, anchored to strict and floating price feeds from other assets, needed to create derivatives and leverage
SpartanLending — a mechanism to borrow or lend assets (both real and synthetic)
SpartanDAO — a mechanism to govern the entire system and distribute protocol incentives
SPARTA — a single fixed-supply network asset that coordinates participation and incentivises capital formation for synthetics and lending

Timeline

The protocol has been implemented on the Binance Smart Chain and is in “test-net”. The AMM (and associated architecture), DAO and SPARTA asset have been validated and will be deployed on Binance Smart Chain main-net in September.

The DAO includes the ability to upgrade the network, which will be used to add the Synthetic and Lending contracts post launch. This is to ensure the liquidity pools attract liquidity early on, before synthetic assets can be created.

Team

Spartan Protocol’s vision was formed from a pseudo-anonymous group of developers who believe passionately in self-sovereignty.

Having globally distributed tools without extensive road-blocks such as bad actors, regulatory bodies and rent-seekers means things can happen faster and cheaper. Anyone with access to a device and the internet has equal ability to be a peer in the ecosystem.

The Spartan community have collectively helped build and iterate the protocol and will continue taking the reins on the Spartan chariot as the ecosystem develops.

The goal for the SPARTAN DAO is for token holders to do most of the key decision making for the protocol from mainnet.

Any holder (big or small) of $SPARTA has the power to influence the protocol.

Sparta Asset

The SPARTA asset is used as the liquidity asset in pools, as well as the collateral asset to mint synthetic tokens. This ensures it is deeply liquid and can allow instant and safe liquidations of unsafe positions.

Total Supply: 300m

Initial Distribution: 100m

Distribution

SPARTA will be distributed via a process that is:

Fair
Timeless
Scarce
Sybil-resistant
Value-preserving

The only such mechanism that allows this is via “Proof-of-Burn” which is in-fitting with the Protocol’s core philosophy. To acquire SPARTA, members must burn BNB and BEP2 assets at a predetermined rate. Their old assets will be destroyed and SPARTA will be minted and sent to their address. Only 100m SPARTA can be acquired this way. The remainder of 200m SPARTA will then be emitted programmatically by the protocol over the lifetime of the network, starting at 35% APY and reducing, for the purposes of incentivising liquidity.

No-one, not even the Spartan team; will be paid from an initial or time-locked allocation of tokens. No-one will have ‘free’ or ‘airdropped’ access to any SPARTA tokens on mainnet launch (nor afterwards at any point).

The only way for anyone to acquire $SPARTA is to commit via:

Partaking in the limited-supply Proof-of-Burn distribution phase (this is the most glorious way of joining the shield wall)
Earning generous yield in $SPARTA on their staked holding
Swapping them via the DApp
Acquiring them on another protocol/DEX/CEX (potentially in the future).

This $SPARTA token distribution method ensures a realistic price-base from the provable burning of tokens that already have a market-derived value in exchange for $SPARTA.

PoB: 30 Projects Bridged by Fire

There will be a limited war-enlistment opportunity for 30 hand-picked BEP-token projects to partake in the proof-of-burn token distribution phase.

These projects will be picked based on a range of factors such as liquidity, community-alignment, social-media activity and general Spartan-community opinion.

Over the next few weeks the Spartan community hopes to visit each of these other project communities and walk over their drawbridges to explain the vision and how they can join arms in the Spartan shield wall.

They will explain how burning project tokens is not a negative event for that project, a range of positive effects can come from this:

Reduced token circulating supply — when tokens are provably burnt, their value is absorbed by the remaining circulating token supply. Bitcoin is built around this core aspect; it has weight
Greater buying demand — $SPARTA acquirers have to first buy one of these project tokens to then burn for $SPARTA
Increased liquidity — The Spartan Protocol DApp can provide liquidity pools between these tokens that enable fast, cheap & easy swapping
Increased demand and utility — The above-mentioned liquidity pools also enable earning daily yield on your otherwise unproductive asset
Community alliance — Building a bridge between all of these projects will provide an allied force with a combined vision for the future. This alliance can be leveraged for any and all projects benefit and growth.

Next Events

Over the next few weeks members of the Spartan Community will champion the cause of #BurningForSparta in other communities. These other communities are welcome to participate or not, it will not affect ultimate success of the Protocol.

The developers of the protocol will finish testing the protocol and prepare to deploy it.

The Spartan Protocol will be one of the first DeFi projects on the Binance Smart Chain and will begin the migration of liquidity from Binance Chain over to the Binance Smart Chain.

Join the Shield Wall

Explore more information and get ready to participate in #BurningForSparta at https://SpartanProtocol.org

Official community channels:

Github: https://github.com/spartan-protocol
Medium: https://medium.com/@spartanprotocol
Twitter: https://twitter.com/spartanprotocol
Telegram Community: https://t.me/spartanprotocolorg
Telegram Announcements: https://t.me/spartanprotocolann