We are excited to release the LP Staking incentives program for $SHIBOO. We know this program will likely drive a lot of liquidity to Friendly Market and Casper. While it’s getting audited, let us explain how it’s going to work and the numbers behind it. This program could be extended into BSC, once we launch Shiboo on the Binance Smart Chain.

The mechanism of Shiboo LP Staking program will work as follows:

User has to provide liquidity on Shiboo/CSPR on the Friendly Market DEX. After providing liquidity, the user gets an LP token that represents his liquidity, this is a basic CEP-18 token that can be transferred.

Shiboo Staking platform allows any user to stake any amount of LP tokens. Once staked, there will be a period of 90 days until the user can withdraw his LP tokens without any fees.

The early withdraw fee starts at 90% and gradually goes down to 0% at the end of the 90 days. LP Stakers are rewarded in both CSPR and SHIBOO.

The CSRP rewards are fully unlocked, however, to prevent selling pressure on Shiboo, the user will receive LckShiboo which is basically a 1:1 version of $SHIBOO.

Users can redeem LckShiboo at any point and get 1:1 in SHIBOO, however, the redemption period is 90 days.

LckShiboo can be used to stake for the BooPad, representing 1:1 to $SHIBOO, so the user doesn’t even need to redeem it to participate in the Launchpad. Similarly users can also use LckShiboo to buy NFTs.

This encourages LP Stakers to use their SHIBOO rewards instead of just selling them while also still benefiting from immediate rewards paid in CSPR.