“Energy cannot be created or destroyed; it can only be changed from one form to another.” — Albert Einstein
We’re excited to add another core pillar to the Planet Finance ecosystem with the launch of Green Planet & GAMMA. This article aims to provide an overview of what’s to come with the launch of the lending protocol, the GAMMA utility token & the upcoming airdrop to AQUA holders. As we accelerate through our Interplanetary Starmap, we look forward to any feedback & ideas from the community!
Token Name: GAMMA
MAX Supply: 100,000,000 GAMMA
Daily Distribution: 100,000 GAMMA
Once 100 Million GAMMA has been completely distributed, there will be no new GAMMA created. As the protocol earns & buys GAMMA it will then be distributed to users of the protocol to continue to incentivize usage across all planets. This will ensure the longevity of Planet Finance. We’ll be releasing a full white paper on this soon.
Initial Airdrop: GAMMA will be airdropped to AQUA holders at a ratio of 50:1. So if you hold 1 AQUA at the time of the snapshot, you will get 50 GAMMA. This will happen prior to the launch of the Green Planet.
To receive this airdrop you need to hold at least 1 AQUA. We’ll be releasing more details on the airdrop & snapshot soon.
What Is Green Planet?
Green Planet is an incentivized, non-custodial lending protocol for earning interest on deposits and borrowing assets.
What Makes Green Planet Different?
Green Planet is the first decentralized lending protocol to offer discount levels on lending & borrowing, by using the GAMMA utility token.
GAMMA will be distributed to lenders & borrowers enabling anyone to earn on their crypto, every 3 seconds. All loans taken by borrowers are over collateralized ensuring that there’s always capital in the protocol to protect the lender’s funds.
GAMMA is a non-inflationary token with actual utility.
Use Cases For Green Planet
- Lend your crypto & start earning instantly
- Why sell your crypto when you can borrow against it & use it
- Create higher yield farming opportunities across the planets
- Earn a yield in a bull market, bear market, flat market
- Permissionless lending & borrowing
- You hold your keys, you remain in control
- Diversify your risk
GAMMA Token Utility
GAMMA is the highest form of energy in the universe & therefore it’s only right that it has infinitely expanding utility! Here’s the planned utility of GAMMA, this list will continue to grow as Planet Finance evolves.
- 3 Levels — Increased Yields & Reduced Fees Taken By The Protocol When Staking GAMMA Relative To Your Collateral
- Stake GAMMA To Earn More GAMMA (GAMMA Vault)
- To Incentivize Liquidity Providers In The GAMMA/BNB Liquidity Pool
- Provides Incentive To Vaults & Liquidity Pools Across The Planets (Blue, Red, Uranus)
- Liquidity Incentives to Suppliers & Borrowers On Green Planet
- Supply & Borrow GAMMA On Green Planet
- Buy & Sell NFTs With GAMMA on Pink Planet
- Incentive For Planet Finance Index Vaults
- Gamification Of Planet Finance
Initial Liquidity Pool For GAMMA
GAMMA-BNB will be listed across the planets & will receive trade fees as well as an allocation of GAMMA each day as incentive to liquidity providers.
How Does The GAMMA Stake Ratio Work?
Stake Ratio Levels — Earn More To Lend & Pay Less To Borrow
Staking GAMMA comes with a tremendous incentive to holders. Green Planet has 3 stake ratio levels that allow you to both increase your yields while supplying & reduce your borrowing rate. The “stake ratio” refers to the USD value of your GAMMA staked as a percentage relative to the total amount of assets you’re supplying as collateral.
These stake ratio percentages refer to the USD value of your GAMMA staked as a percentage relative to the total USD value of assets you’re supplying as collateral.
- Level 1 — (1–5%) — 5% discount on lending & borrowing
- Level 2 — (5–10%) — 20% discount on lending & borrowing
- Level 3 — (>10%) — 50% discount on lending & borrowing
Example: Let’s say Alex has $1,000 in Bitcoin supplied earning 20% APY. Alex has decided to borrow $500 in BUSD paying 20% APY. For this example let’s say the borrow rate for Bitcoin is 40% APY & the supply rate for BUSD is 10%. This means that the protocol is earning 20% APY on the Bitcoin & 10% on the BUSD.
Alex understands the power of GAMMA & has decided to buy & stake $100 (10% of the $1,000 in Bitcoin he supplied) in GAMMA in the GAMMA vault, qualifying him to be at level 3. This means that the protocol fees are now reduced by 50%. In addition to that, his staked GAMMA is earning 100% APY.
Alex’s new yield on the Bitcoin he’s supplying will be 25% APY increasing 5% from the original 20% APY. Alex’s new borrow rate on the BUSD he’s borrowed drops down to 17.5% APY from the original 20% APY.
Without GAMMA: He makes $200 interest on his Bitcoin & pays $100 interest on his BUSD. In this scenario he makes $100 over the course of the year.
With GAMMA: He makes $250 interest on his Bitcoin & pays $87.50 interest on his BUSD. In addition he’s made $100 interest staking his GAMMA. In this scenario, with GAMMA, he’s made $262.50 over the course of the year.
*Assumption: The price of all assets stay the same for this example.
All protocol profits that aren’t used to buy or burn AQUA & GAMMA go into the reserve fund. The assets that flow into the reserve fund will be used to either supply liquidity, burn AQUA or buy GAMMA unless the community votes to change this. Adding liquidity to the protocol is critical as it ensures there’s a liquidity buffer to allow users to pull their funds out of the protocol. To date, this has been a critical issue in other lending protocols where suppliers have had issues being able to fully remove their liquidity in a timely manner.
The liquidity reserve combined with our unique interest rate model will mitigate this liquidity risk & minimize the time frame in which there’s any potential short term liquidity issues on Green Planet.
Utilizing Chainlink’s Pricing Oracles
Some of the largest problems with DeFi protocols have been Flash Loan attacks and manipulatable pricing data. Both of these are preventable by using Chainlink’s pricing oracles. A pricing oracle pulls in the current price of an asset from multiple sources, this makes it increasingly difficult for a bad actor to temporarily manipulate the price of an asset. We’ve completely removed the ability to do Flash Loans within the Green Planet Protocol.
We’re excited to announce that we’re going to be working with Chainlink Labs to implement Chainlink’s pricing oracles on Green Planet. Much more details to come on this as we approach the launch of Green Planet & GAMMA.
GAMMA Allocation To The Foundation
100,000 GAMMA will be distributed each day, of that, 10,000 GAMMA will flow to the foundation. This GAMMA allocation will be used to fund ongoing development & innovation, legal costs, marketing expenses & more.
Our mission is for GAMMA to be as fairly distributed as possible. We aim to have the lowest “team allocation” in the DeFi space. Just a reminder we took ZERO AQUA allocation for the team, all AQUA held by the team has been bought or earned.
Incentive To Share Green Planet
The community has asked for an affiliate aspect to help grow Green Planet. We will be releasing specific details on the affiliate program soon.
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Connect With Us
Blue Planet: https://blue.planetfinance.io/
Red Planet: https://red.planetfinance.io/