SLIME Basics

The Swamp is where you can purchase and stake OOZE/USDC liquidity, represented by the SLIME token. Holding SLIME gives you the ability to gain rewards from building your own monastery for the Order of SLIME, gain extra XP over time, as well as gain further USDC rewards from holding that liquidity.

When you deposit USDC into the Swamp contract, it purchases OOZE tokens with half of your USDC and creates liquidity between them, represented by the SLIME token. The SLIME token doesn’t hit your wallet, but is automatically staked in the contract. At any time, you can choose to sell your SLIME in the contract, which splits the SLIME LP, sells the OOZE for USDC, and returns to you the total USDC.

Taxes and Dividends

When depositing or withdrawing USDC from the Swamp contract you are charged a 10% tax. 50% of that tax (or 5% of the amount you deposit) goes to a Dividends Vault. That Dividends Vault pays out 2% of its total value every day to all SLIME holders relative to the percentage of the SLIME balance they hold. The other 50% of that tax (or 5% of your deposit amount) also is used to create SLIME liquidity locked by the contract. This locked liquidity stabilizes the price of OOZE and raises its price floor as the amount grows.

SLIME Rewards

As stated above, by holding SLIME, you earn a percentage of the 2% daily emissions from the SLIME dividends vault generated from taxes based on the percentage of the SLIME in the contract you own.

These emissions appear in your claimable SLIME rewards balance on the Swamp page. You can choose to either claim these (which splits the SLIME, sells the OOZE half, and transfers the resulting USDC to your wallet), or compound these, which increases the percentage of SLIME you own in the contract, increasing your rewards. For team-building purposes, compounding also increases the number of SLIME tokens you hold, and therefore your eligibility for additional downline.