SoftLink - An elastic cryptocurrency pegged to Link

By Alexdotleo | Crypto & co. | 20 Aug 2020


SoftLink is a new cryptocurrency that is inspired by two big things: 1) $LINK and 2) $AMPL. SLINK is not live yet but it will soon be available on Uniswap. Also, this project is part of the TrustSwap Launchpad and if you hold at least 10k $SWAP tokens you will be airdropped some. For more info on this checkout TrustSwap’s Twitter. 

Please note: this is not financial advice and always do your own research before investing. 

The way SLINK works is that it is pegged at 0.1 $LINK and its initial supply will be 250,000 tokens. Once live its supply will rebase everyday at 10:00pm. Meaning that if the price of SLINk is higher than 0.1 $LINk, then circulating supply will expand. If on the other hand, the price of SLINk is lower than 0.1 $LINK, then circulating supply will contract. The mechanism as you can see is very similar to $AMPL. Also, there is another incentive that is called Ser-Geyser that will remunerate liquidity providers who provide liquidity in the Uniswap pool. The name is a play on words on Sergey (Chainlink’s founder) and Geyser (Ampleforth’s Liquidity program).

My opinion: being a Link Marine, I’m a bit skeptical on this especially after seeing the great $AMPL debacle. It could be that speculators will make money at the beginning and then late investors will be left with nothing or less than they invested. Also, there isn’t much information online and many people don’t know this project yet, so we’ll see. 

For more information:

Website: https://slink.finance/

Whitepaper: https://pdfhost.io/v/u8UssYDQP_SoftLinkWP_12pdf.pdf

 


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