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Summary
- LIT (Liquidity Incentive Token) is the core component of Timeless’ liquidity engine, Bunni.
- Bunni is a liquidity engine built on top of Uniswap v3, released in October 2022.
- LIT represents Uniswap v3 liquidity positions as fungible ERC-20 tokens instead of NFTs.
- Timeless aims to incentivize token liquidity at a higher level of efficiency.
- Bunni has been improved with tokenomics inspired by Curve and Balancer.
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Improvements aim to:
- Disincentivize farming-and-dumping
- Align interests of liquidity providers and LIT
About Timeless: Embracing the Essence of Elegance
LIT, or Liquidity Incentive Token, is the linchpin of Timeless’ innovative liquidity engine, Bunni. Built atop Uniswap v3, Bunni is a pioneering utility that revolutionizes Uniswap v3 liquidity positions by representing them as fungible ERC-20 tokens, rather than NFTs. Initially launched in October 2022, this groundbreaking approach enables the creation of more sophisticated incentivization schemes for Uniswap v3 liquidity. By introducing LIT, Timeless aims to empower other projects to optimize their token liquidity with unprecedented efficiency. Furthermore, Timeless plans to leverage LIT and Bunni to catalyze liquidity in its own yield token markets.
Since its inaugural launch, Timeless has undergone significant enhancements, transforming Bunni into a comprehensive liquidity engine. Inspired by protocols such as Curve and Balancer, the tokenomics have been refined to: – Foster the protocol’s longevity by discouraging farming-and-dumping practices and aligning the interests of liquidity providers and LIT holders – Establish a substantial treasury to fuel growth and mitigate LIT price fluctuations – Maintain a consistently high level of liquidity for LIT. You can delve deeper into the LIT tokenomics on our blog.