Proposal: Introducing LSDoge - The Meme Token Backed by LSD Assets

Proposal: Introducing LSDoge - The Meme Token Backed by LSD Assets

What if we combined the power of memes with the benefits of good LSD? That's precisely what we're proposing with the issuance of the Meme Token - LSDoge, backed by LSD assets from the ACID Treasury to provide abundant real returns. LSDoge is a new Meme token that combines LSD and the best Meme to offer gud yields to holders. By holding LSDoge, one becomes a guardian doge of the Ethereum network and earns high ETH incomes. LSDoge is a fixed total supply token with infinite deflation, fairly distributed, with no team allocation, and no fundraising. Of the entire supply, 69% can be exchanged using $ACID holdings, while 30% will be distributed as an airdrop to eligible addresses with $ARB airdrop, and the remaining 1% will be utilized for initial LP.

Proposal : LSDoge Launch - LSDoge, supported by LSD assets from the ACID Treasury to provide ETH node returns. Of the entire LSDoge supply, 69% can be exchanged using ACID holdings.

Details :

• ACID can also be exchanged for LSDoge through bonding, with a limit of 3000 ACID. The ACID used to exchange for LSDoge will be burned.
• LSD basic returns from the Treasury (yield from frxETH, stETH, wstETH, etc.) will be distributed to LSDoge as dividends.
• The basic LSD returns for original stakers will be canceled, but bond income dividends will still be retained.
• LSDoge transfer tax is 8%, with 2% allocated to burning, 3% allocated to LSDoge-ETH LP incentives, and 3% allocated to converting to ETH to distribute to the 0xACID Treasury as a return for providing LSD returns to the 0xACID protocol.
• 20 wstETH will be taken from the Acid wstETH rewards pool as the initial reward pool for single-coin staking of LSDoge.
• Extract 10,000 USD equivalent of ACID Token from DAO address to form LSDodoeg-ACID LP as initial liquidity

Advantages:

• Significant reduction in ACID circulation (due to a large amount of ACID being exchanged for LSDoge).
• Increased backing value of ACID (due to the reduced ACID circulation).
• Staked Acid will no longer face infinite devaluation after exchanging for LSDoge (LSDoge is deflationary with a transfer tax).

In conclusion, the proposal is to introduce LSDoge, a meme token backed by LSD assets, to provide high real returns to holders. The token is fairly distributed and can be exchanged for with ACID holdings or received through airdrops. This proposal is aimed at significant reduction of ACID circulation, increasing the backing value of ACID, and providing additional returns to locked Acid.