A Heartfelt Thanks and Our Ambitions

First and foremost, a big thank you to everyone who has participated in the launch of the Ebisu’s Bay Decentralized Exchange. As we navigate these exciting times, our mission to enhance and expand our platform continues. While we pride ourselves on having the lowest fees on the Cronos network, we are keenly aware of the need for more liquidity to facilitate efficient trading. This is where our valued community comes in — your participation as liquidity providers is vital.

Understanding the Workings of Fees: A Simple Explanation

Why might someone want to provide liquidity in a decentralized exchange such as Ebisu’s Bay? For those new to decentralized exchanges, understanding how liquidity providers earn fees can seem complex. Let’s break it down simply: When you provide liquidity by depositing your assets into a liquidity pool, you receive LP tokens. These tokens represent your share of the pool. Every time a trade is executed within that pool, a transaction fee is charged. This fee is then added to the pool effectively distributing it proportionally to all holders of the LP tokens based on their share of the pool. Thus, the more liquidity you provide, the more you earn from transaction fees.

Introduction to Yield Farms

Providing liquidity in the form as we described in the previous section can be a good way to put your assets to work. But there are some things to consider.

For starters, when an exchange is new it may not have as much volume as some other exchanges. Since liquidity providers earn fees based on volume, this means they may earn less than they would on a different exchange that has higher volumes.

Additionally, even with ideal volumes liquidity providers run into the risk of impermanent loss. This happens when the value of one asset they provide increases as a much more rapid pace than that of the other. In some cases if this were to happen even after the fees earned the liquidity provider may have earned more money by not providing liquidity at all. While this may not be entirely as scary as it sounds none-the-less it is still something every liquidity provider must understand and consider.

To offset these two considerations decentralized exchanges introduce a new tool called yield farms. In a yield farm a liquidity provider may lock up their LP tokens and in exchange earn a bonus amount of platform or other tokens as an additional bonus making it more enticing to join into the pool.

A Twist on the Traditional: Our Upcoming Farms

At Ebisu’s Bay, we’re not just launching another yield farm; we’re putting our own unique spin on the concept. Liquidity providers will be able to make use of our collectables such as staking Ryoshi Tales NFTs into Farmlands to boost yield farming rewards and provide extra troops and resources for gameplay. Additionally, Ryoshi Heroes quests will be amplified by LP farms, intertwining gaming with DeFi to create a uniquely engaging experience.

Incentives for Early Participants

Until our groundbreaking farms are operational, we are thrilled to roll out an exclusive rewards program designed to thank our early liquidity providers and active traders. This initiative aims to recognize and incentivize those who are pivotal in supporting our early stages with generous benefits and opportunities.

• Anyone who provides liquidity of 1K+ in a transaction before our farms launch will qualify for airdrops. The longer and larger your liquidity provision, the more entries you’ll receive for these rewards.
• Scaling Rewards: For every $50K in total value locked (TVL) the community achieves, we’ll release 10K $FRTN tokens and give away one Ryoshi Tales VIP NFT.
• At 500K TVL, a rare Ryoshi Tales With Knife NFT will unlock. This NFT will give a +5% bonus to any MEME farm in addition to normal Ryoshi Tales benefits.

• At 1M TVL a rare Ryoshi Tales General will unlock. This NFT will give a bonus 5k troops each week while staked in the barracks.

• As our total value locked (TVL) reaches further milestones at 2 million, 3 million, and 5 million, we will reveal additional exclusive rewards at each of these levels.

• Rewards for Traders: High-volume traders aren’t left out. We’ll also be giving away 1 Ryoshi Tales VIP for every 1M in trading volume done. All traders will be given entry chance proportional to their trading volume.

Beyond Yield Farms: Expanding Liquidity

In our quest to build liquidity, we’re introducing community-driven liquidity events. Participants can convert LP tokens from VVS and MMF into Ebisu’s Bay LP tokens, earning significant rewards. Our first liquidity booster event will be CRO/USDC. Be sure to look out for more details soon.

Bank Integration

We will be rewarding those who lock FRTN/CRO and FRTN/USDC LP tokens in to the Ryoshi Bank with 1.5x Mitama in value compared to locking FRTN alone. This also has the effect of burning the LP tokens on early withdraw creating permanently locked liquidity.

A Gamified Approach to Rewards

We are elevating the experience of decentralized finance by introducing a gamification layer to the allocation of yield farm rewards. This innovative approach not only enhances engagement but also empowers our liquidity providers (LPs) by integrating game-like elements directly into the financial mechanisms of our platform.

Drawing inspiration from the success of the Mitama voting system in Ryoshi Dynasties, where users’ stakes influence the distribution of rewards across different NFT collections, we are taking a similar path to revolutionize yield farming. In this new game, LPs will have the opportunity to actively participate in competitions that determine who earns the most lucrative yield farm rewards. This not only makes the process more interactive and enjoyable but also aligns closely with our community’s preferences and behaviors.

The unique aspect of our approach lies in our commitment to listen to what our community loves and to build on those insights. By incorporating direct feedback and observing engagement patterns, we continually adapt and innovate our offerings to better suit the needs and desires of our users. This strategy sets us apart from other platforms by creating a more dynamic and responsive ecosystem, where the rewards system itself evolves based on active participation and community input.

This gamification of yield farming is designed to enrich the user experience, making financial participation both profitable and enjoyable. It reflects our broader commitment to not just being a platform for transactions, but a vibrant community hub that rewards creativity, participation, and support.

WEN WEN WEN

This is all very exciting but when are the rewards? How long do we have to wait till the farms come out???

Quality and security are paramount, reflecting our commitment to providing a safe and robust trading environment. For this reason we can not provide an exact date but the community can expect several weeks for the chance to earn these fabulous rewards.

Traction So Far

While we are only a few weeks into our launch so far we have already made some great progress and milestones!

• 600k in TVL
• 7.1M in trading volume
• 50k transactions
• Several amazing community partnerships
• Listings on Coin Gecko and Dex Screener
• Top 3 Cronos DEX by Volume
• Top 2 Cronos DEX by Users
• #1 Best DEX and Community ever.

This journey is just beginning, and your participation is crucial. Together, let’s build a resilient and prosperous ecosystem at Ebisu’s Bay. Stay tuned for more updates, and thank you for being a part of our community’s growth and success.