Hurricane Finance is simple and experimental yield farming designed to benefit storm chasers for the long term. It introduces “Storms” for stakers and liquidity providers to earn rewards and increase their holdings while participating in network growth.
Our category 5 (CAT5) token has a total supply of 10,000. Since no presale or team fund was created, there will be no circulating CAT5 at launch. Instead, a reward allocation will begin at 5,000 tokens and halve every 2 weeks until a total of 10,000 CAT5 has been distributed to liquidity storms and storm chasers.
The reward allocation will be split up amongst the storms according to the percentages described in each storm below.
Hurricane Finance is rugproof with no presale or team fund. We will launch with two storms available for chasing: Hurricane Katrina and Hurricane Hugo. We will prepare a third storm called Hurricane Andrew with a pair based on community governance voting.
Hurricane Katrina: ETH/CAT5 Liquidity Storm
Providing liquidity in the Hurricane Katrina storm will automatically mint an equivalent number of CAT5 to match your deposited ETH and add to the ETH/CAT5 liquidity pool on Uniswap. The initial price is 1 ETH = 10 CAT5 ($40 USD at the time of writing). At launch, Hurricane Katrina will receive 60% of the reward allocation (3,000 CAT5).
You can unstake your liquidity from the Hurricane Katrina ETH/CAT5 Storm twice a day, capped at 20% per withdrawal. This cap helps provide liquidity stability to the network. You will only receive ETH when you unstake, not the ETH/CAT5 liquidity token, and an 8% exit fee will be applied to the unstaked amount. Four (4) % of this exit fee is redistributed to other LPs still staking in the Hurricane Katrina storm and the other 4% is sent to the treasury.
Hurricane Hugo: CAT5 Staking Storm
Staking in Hurricane Hugo will mint 1 HUGO token for each CAT5 staked. Unstaking CAT5 burns the same quantity of HUGO tokens. HUGO tokens are not intended for trading and are used for governance and future benefits released in the protocol. At launch, Hurricane Hugo will receive 40% of the reward allocation (2,000 CAT5).
You can unstake from the Hurricane Hugo CAT5 Storm twice a day, capped at 25% per withdrawal. A 5% exit fee will be applied to the unstaked amount. Half (2.5%) of this exit fee is redistributed to others in the Hurricane Hugo Storm and the other 2.5% is sent to treasury.
You can claim rewards from storm chasing at any time. When you claim, a percentage of the CAT5 earned will be sold to purchase the other token (e.g. ETH in the ETH/CAT5 storm) and an equivalent percentage of the CAT5 will be used to automatically re-stake liquidity to the user’s staked LP deposit.
If you claim rewards too early relative to the day you last staked, an aggressive burn fee will be applied to rewards and the remainder re-staked and distributed according to the table below.
You can stake rewards earned from LP Storms (like Hurricane Katrina) directly to the Hurricane Hugo Staking Storm without auto-restaking a percentage back into LP (as Claiming does). Your CAT5 rewards will be converted to HUGO tokens on a 1:1 ratio. Unstaking these rewards will burn HUGO and return the same quantity of CAT5. To prevent this from becoming a method to bypass claim rewards exit fees, unstaking has associated exit fees according to the table below.
Hurricane Andrew: TOKEN/CAT5 Liquidity Storm
Providing liquidity in the Hurricane Andrew storm will automatically mint an equivalent number of CAT5 to match your deposited TOKEN and add to the TOKEN/CAT5 liquidity pool on Uniswap. The TOKEN and associated reward allocation % for Hurricane Andrew will be voted in by HUGO token holders and decided using our governance system.
By default, you will be able to unstake your liquidity from the Hurricane Andrew Storm twice a day, capped at 20% per withdrawal. You will only receive TOKEN when you unstake, not the TOKEN/CAT5 liquidity token, and an 8% exit fee will be applied to the unstaked amount. Four (4) % of this exit fee is redistributed to other LPs still staking in the Hurricane Andrew storm and the other 4% is sent to the treasury. These percentages may also be changed via governance voting by HUGO token holders.
Governance will be released that will allow those staking in the Hurricane Hugo Storm, holding HUGO tokens, to decide on the future of the service. Some of the parameters that can be adjusted by the HUGO storm chasers include:
- Adding or removing storms and their reward allocations (new pools)
- Decide on treasury and LP shared exit fees (possible range is 1–5%)
- Decide on unstake withdrawal fee (defaults to twice a day, 20% per withdrawal)
- Decide on restake % to liquidity pool (defaults to 35% of CAT5)
- Decide on the continuous burn %
We will evaluate the possibility of adding vaults to benefit our HUGO storm chasers.
We will evaluate partnership opportunities to benefit our HUGO storm chasers as they arise.
We intend on being listed on CoinGecko, CoinMarketCap, Uniswap, Livecoinwatch, and DexTools.