Proposal Summary
I propose to list POOP/PARA and POOP/USDT trading pairs on Parallel AMM. This addition of POOP assets will open up new possibilities for the Parallel DeFi landscape and further consolidate the connection between Parallel and Moonsama ecosystem and Cross-chain NFT.
Background
Parachain Operating On Polkadot (POOP) is the governance token of Raresama, which can be used for minting NFT or governance voting on Raresama NFT Marketplace (https://raresama.com/). Raresama is 100% governed and curated by the community, and the raresama is created by Moonsama, and Moonsama is the leading NFT project on Polkadot.
What’s special about Moonsama?
First, Metaverse interoperability and multi-chain, including Ethereum (cross-chain GameFi). Second, it is created by Donnie (https://twitter.com/DonnieBigBags), you may want to check the Exosama (https://opensea.io/collection/exosama-expect-chaos) and watch the video from Pnin (https://www.youtube.com/watch?v=2j3%5FFRga9K8) and how to get it (https://www.youtube.com/watch?v=0HilG2TYFzU).
The $POOP token is officially an XC-20 asset(https://docs.moonbeam.network/builders/xcm/xc20/overview/) which is built on Moonbeam in Polkadot!
XC-20s are a unique asset class on Moonbeam. It combines the power of Substrate assets (native interoperability) but allows users and developers to interact with them through a familiar ERC-20 interface via a precompile contract (Ethereum API). Moreover, developers can integrate XC-20s with regular Ethereum development frameworks or dApps.
With the help of XCM, the POOP can be transferred to all parachains (and also other EVM dApps as it is on the EVM compatible parachain Moonbeam), and as a substrate native asset, POOP can also have the decentralized on-chain governance feature. Adding POOP to Parallel Finance, which has the borrow and lending feature, would benefit both eco systems!
The total supply of POOP is 1 billion with 10% inflation
✅51% dropped to the community
✅39% to the DAO controlled treasury for liquidity incentives
✅10% to the core team
Rational
As the leading DeFi hub on Polkadot Network, Parallel Finance will be able to offer the Moonsama community with the best trading solution to the POOP, and users can also borrow POOP on Parallel Finance for the utility of POOP, benefiting both eco systems.
