Introducing Lockquidity Token (LOCK) — Datamine Network Arbitrum L2 scaling for permanent liquidity
It’s been a while since our last update, and we’re excited to share a groundbreaking advancement in the Datamine ecosystem. After addressing high Ethereum gas fees in 2021 with ArbiFLUX, we’re now solving another critical challenge: liquidity.
The addition of LOCK tokens revolutionizes how our ecosystem handles liquidity, ensuring long-term stability and enhanced market depth. Let’s dive into what’s new.
TLDR: Lock-in ArbiFLUX to mint LOCK tokens. Instead of burning LOCK, these tokens are now added as permanent liquidity to the Uniswap V2 LOCK/ETH pool.
The burn multiplier remains capped at 10x, but the minimum is now 0.0001x, meaning smaller contributions are possible even without active burning participation.
What Does This Mean for Datamine?
We’ve taken the existing FLUX smart contract and made key enhancements to address liquidity challenges. Here’s what’s changed:
ArbiFLUX to LOCK Conversion:
Validators can now lock ArbiFLUX to generate LOCK tokens, creating a new avenue for participation within the ecosystem. LOCK tokens are minted based on burn multipliers, scaled for participation levels.
Permanent Liquidity Vault:
Instead of traditional burning, tokens are sent to a Permanent Liquidity Vault. This vault uses a “sweep” function to lock all tokens inside it as permanent liquidity to the Uniswap V2 LOCK/ETH pool. This ensures perpetual liquidity growth and mitigates speculative volatility.
Smaller Entry Threshold:
The minimum burn multiplier is now 0.0001x, making it accessible for participants with varying levels of ArbiFLUX holdings. Key Links and Resources
Interact with LOCK Token:
Dashboard to interact with new LOCK token:
https://datamine-crypto.github.io/realtime-decentralized-dashboard/
Explorer for the new permanent liquidity pool:
https://www.defined.fi/arb/0x0c93a1d3f68a0554d37f3e7af3a1442a94405e7a?cache=eecfa"eToken=token0
Official Arbitrum L2 Address for Lockquidity (LOCK): 0x454F676D44DF315EEf9B5425178d5a8B524CEa03
https://arbiscan.io/token/0x454F676D44DF315EEf9B5425178d5a8B524CEa03
Official Arbitrum L2 Address for LockquidityVault: 0xE05E43eE517A6D2862f91Be27315318A8E991FCc
https://arbiscan.io/address/0xE05E43eE517A6D2862f91Be27315318A8E991FCc
How LOCK Strengthens the Datamine Ecosystem
Enhanced Liquidity:
The permanent liquidity vault ensures continuous growth of liquidity for the LOCK/ETH pair. Market depth improves, stabilizing prices and increasing confidence among participants.
Efficient Scaling:
By utilizing ArbiFLUX on Arbitrum, transaction costs are minimized compared to Ethereum Layer 1. This fosters participation and reduces barriers for smaller holders.
Dynamic Participation:
Validators can engage in ecosystem dynamics regardless of their ArbiFLUX holdings, thanks to the lower minimum threshold for minting LOCK.
Sustainability:
Permanent liquidity guarantees that as the ecosystem grows, market participants benefit from improved trading conditions and reduced volatility.
What’s Next? We’re currently in safeguard mode for the next 28 days, allowing validators to lock-in up to 100 ArbiFLUX at a time. This period ensures all systems are fully operational and ready for broader participation.
This enhancement solidifies Datamine as a forward-thinking DeFi ecosystem, blending scalability, liquidity growth, and decentralized stability. Stay tuned as we continue to refine and expand on these innovations. Happy minting! 🔒
