INTRODUCING TO SPRINGFIELD AND DOUGHNUTS ($DNUT)

7 min readOct 15, 2020

We are introducing $SIMF staking platform, SPRINGFIELD in which staking options will be offered for the SIMF holders to stake SIMF and earn more SIMF as well as our NFT reward points, DOUGHNUTS (DNUT) in order to convince holders to hold and preserve SIMF token value

Greetings Simpson Finance Fam,

It has been an exciting week for our project so far. We have successfully managed to launch out SIMF token on Uniswap, lock the liquidity and get the verification tag from etherscan. Most importantly, Our community strength grew from mere hundreds to 5k+ in telegram, 2.8k+ in twitter, 780 in medium and still growing. The initial airdrop winners have been selected and listed out. Airdrop claiming process is ongoing in our website as well. Recently we launched a Bonus airdrop round to those who missed out in the earlier rounds and published the winner list. Many more community engagement events planned in the future.

— Now you can check SIMF balance by connecting your wallet to our platform

Just connect your wallet and see you SIMF balance. Its as easy as A, B, C. Our developers are working their asses off to launch the platform ASAP

INTRODUCING TO DOUGHNUTS ($DNUT), NFT REWARD POINTS IN SIMPSON FINANCE.

Our SIMF members will be able to stake our native token SIMF and in return they will get Simpson finance NFT reward point. We call it DOUGHNUTS ($DNUT). We named it after Homer’s favorite food. you can redeem DNUT for a collectable NFT Simpson Finance Card from our collection. Collect the NFTs for yourself or sell them to others on Open Sea. It’s up to you. Will DNUT be listed on any exchange? we never know, we will let you know in that regard. We might even do a small initial airdrop of DNUT to our SIMF holders. Stay tuned!!!

INTRODUCING TO SPRINGFIELD (SIMF Staking and Farming platform)

As we mentioned previously, Simpson finance project revolves around our native token SIMF. Our initial plan was to let the community stake SIMF in order to get NFT reward points which can be used to redeem cards from our NFT collection in opensea.io. However after the recent team meeting, we have decided to introduce a new segment to our staking criteria. Hence now our staking protocol comprises with two main options for the SIMF holders.

1️⃣ Stake SIMF and get more SIMF and our NFT reward point, Doughnuts ($DNUT)

Our initial plan was to only facilitate SIMF staking for NFT reward points. Nevertheless, After a lengthy discussion during our last team meeting, a decision was made to facilitate the SIMF token staking option in order to get more SIMF. We are so excited to introduce our own staking plan for the SIMF holders. This will create more excitement among crypto enthusiast about SIMF token and bring more investors/traders/holders. This will help our project in lot of ways imaginable. We think this is one of the best decision we made as a team after the initial idea.

SIMF holders will be able to stake SIMF alone in our staking platform and farm more SIMF tokens as well as our own Simpson finance NFT reward point called Doughnuts ($DNUT). you can redeem DNUT for a collectable NFT Simpson Finance Card. Collect them for yourself or sell them to others on Open Sea. It’s up to you.

2️⃣ Provide Liquidity to our SIMF/ETH pool in Uniswap and get more SIMF and our NFT reward points, Doughnuts ($DNUT) by farming the LP token

Liquidity providers will have a chance to get more SIMF and DNUT as well. The APY for LP staking will be bit higher because we value our liquidity providers immensely.

THE APYs yet to be determined but We can assure you that you won’t be disappointed. There is no restrictions for staking or LP. You can stake/LP any amount. Ultimately, you will get to harvest both SIMF and DNUT in the future. The sneak peek of the the staking/farming platform; SPRINGFIELD is given below.

SIMF TOKEN ALLOCATION FOR THE NEW STAKING MODEL

Since New staking model has been suggested and stamped recently. We never had a chance to allocate a token amount initially. So as the development team, We thought it would be in our best interest to take out a portion from the airdrop allocation. We will divide the airdrop allocation. The Staking allocation will be locked in a Staking contract and users will be able to stake SIMF soon to gain more SIMF. The staking reward will also go to the community. those who have faith in the project will hold and stake and That will be immense for the project growth.

NEW TOKENMETRICS

We never had a rigid tokenmetrics model for Simpson finance. We were open to adjust it according to the community’s as well as project’s best interest. Hence we revamped the token metrics in such a way that both project, token price and the community won’t suffer.

📌 Total Supply: 20000 SIMF (This is Homer’s Net Worth 😍)
📌 Community Airdrop: 4000 SIMF (No lock up)
📌 Reward pool for the Community Stakers and Liquidity Providers: 11000 SIMF (Current LP will be rewarded manually from the pool and it will be locked in a smart contract once the platform launches)
📌 Initial Uniswap Liquidity: 1500 SIMF (Locked up forever)
📌 Marketing and Future Community Development (Airdrops/Contests and Giveaways): 3500 SIMF (Locked up and release according to the events schedule)

REVISED AIRDROP CATEGORIES

1. Early birds (Those who joined our project at the very beginning)
50 guaranteed spots have been allocated for them (7 SIMF per each entry)

2. Main Airdrop Stages 1, 2 and 3
450 spots among FCFS and tasks completion basis (7 SIMF per each entry)

4. 10 most active members will get 25 SIMF each (on going…)

5. Top 5 MEMEs will get 15 SIMF each (on going…)

6. Top 3 sticker packs will get 20 SIMF each (on going…)

7. And more bonus airdrops to come…

The airdrop distribution plan will remain the same.

📝 DISTRIBUTION PLAN
It’s fair and obvious to say If we distribute all the airdrop tokens at once, it will be catastrophic for the token value. Hence we were forced to come to a middle ground solution where members and token price both parties won’t suffer. The plan is to distribute the airdrop tokens gradually to the circulating supply so that price can withstand the force of selling. The distribution schedule is given below

We will divide the airdrop into batches, Each batch consists with 50 entries. And airdrops will be deployed thrice per every week. Early birds will get the airdrop at first (We love our early birds and hope they will hold the tokens and continue to be with us for a long time)

For the rest of the 500 entries, we will have 10 batches. Since we need to have fairness in distribution, everyone will be given a fair chance to check you airdrop status and claim it on the website. We implemented to claim function to make it fair for everyone and filter out inactive entries. You can go there and submit your submitted ETH address and check the airdrop status. If you are in, Just click the claim button and you will be added to the distribution list. The List will be prepared on FCFS (First Come First Serve) basis. Whoever comes first and claim the airdrop will have a chance to be in the initial batches.

SUMMERY

📅 AIRDROP DISTRIBUTION START DATE: 15/10/2020 at 4.00PM UTC
🚚 TOTAL BATCHES: 10 BATCHES
📦 1 BATCH= 50 Entries (starts with the early birds)
🏃🏼‍♀️ FREQUENCY: 3 batches per week

HOW THIS MODEL WILL HELP SIMPSON FINANCE TO GROOM?

The impact on token price after airdrop distribution will be low.
Airdrop holders will be motivated to hold and stake for more SIMF
Liquidity providers will be happy to continue to provide their services.
Initial token buyers after listing on Uniswap will be motivated to hold the tokens.
More crypto enthusiasts will be interested in our project.
Great opportunity to gain our newly introduced NFT reward point, Doughnut (DNUT) in order to redeem NFT cards.
More excitement among the community members and others

NFT CONTRACT BUILDING IN COLLABORATION WITH OPENSEA.IO

We have started the initial formalities to build the NFT smart contract in collaboration with opensea.io. Our developers will continue to deliver.

NFT IDEAS

We will launch a contest to see what are the community ideas for the NFTs. we got several of them but Its better to get the community feedback on this too.