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Why Behodler?

Free Flash Loans support hyper-efficient arbitrage

Lower gas costs for trades due to omni-schedule bonding curves. 

The liquidity token Scarcity ($SCX) acts like an Index.

One smart contract with multiple token bonding prices all tokens in SCX

Scarcity tokens ($SCX) are burned with each trade skewing price positively for liquidity providers.


EYE token supply allocated to Liquidity Mining rewards

UniSwap / AMM

Liquidity Mechanism

Token owners pair liquidity with ETH or another asset and the pool is subject to impermanent loss depending on prices rises or falls.

Trading Revenues

The fee of 0.3% from all trades rewards liquidity providers, which helps mitigate the impermanent loss issue.


Tokens prices fall when liquidity is added and rise when liquidity is removed (basic supply and demand). Arbitrage opportunities restore market prices.


Liquidity Mechanism

No pairing. Scarcity is virtually minted when tokens are sent to Behodler and burned when removed. Governed by token bonding curves.

Trading Revenues

Liquidity LPs receive 0.3% of all trades as SCX rewards through farming.


Tokens are all priced relative to SCX. Swap prices create arbitrage opportunities for traders, which serve to regulate Behodlers prices in line with market prices.


Connect to

Select Your

Trading Pair

Swap your

Liquidity for SCX

Customer Process

Governance/Reward Process

Liquidity LPs farm 0.3% trading fees  

Participate in Behodler governance decisions including exchange fees.

Behodler User

How does Scarcity ($SCX) work?

Trading Fee Rewards (paid in SCX)

To get SCX add liquidity to Behodler

Pool EYE with your SCX on Uniswap

Stake your LP in the (coming soon) Behodler staking rewards contract

Farm your share of the 0.3% trading fees

SCX in practice

On every trade, a small portion of scarcity is burnt so:

Scarcity constantly rises in value relative to the underlying pool of tokens;

A growing portion of tokens in Behodler can never be withdrawn resulting in a permanent sink;

Because SCX is generated each time a new token is added, it simulates a basket-token tracker of all tokens listed on Behodler - an Index.

The Behodler Liquidity Mining Event

Back Story

In August 2020, Justin Goro and Degen Labs decided to work together to bring Behodler to the Ethereum ecosystem. It was in the wake of Sushi Swaps initial "vampire attack" on Uniswap which had demonstrated how liquidity providers could incentivised to move some of their liquidity to a new DEX with more attractive features. Having wanted to create a governance/reward token for Behodler for some time, it now became clear that we should distribute this valuable asset through a liquidity mining event.

Liquidity Mining

Behodler's liquidity Mining smart contracts will leverage audited code bases such as Maker DAO for per second rewards creation and Masterchef for LP unlocking to create a novel liquidity mining event where participants will mine $EYE - Behodlers governance and reward token. A higher reward rate will apply to EYE, DGVC and several other assets.  Behodler mints Scarcity when tokens are added to it, which can be swapped for any token on Behodler. The initial tokens added generate the most Scarcity.

EYE's role

Behodler will be governed by MorgothDAO, which will be structured in such a way that its prime members are rewarded financially. Rather than a seething tide of democracy where your votes only matter to the extent of your holding of EYE, Goro want to create a role based system of governance. Responsibilities will gradually vest to constructive contributors. Initially, it is envisioned that Behodler trading revenue will reward the EYE/SCX LP through a straightforward staking smart contract. 

The Behodler Liquidity Mining Period

ERC20 Token Created

Token Listing on

Liquidity Mining Pools

Smart Contracts

Receive Scarcity and

Farm rewards

Degen.VC Master

Factory Contract

Input parameters

EYE rewards

Initial reward rate

EYE pool allocations

Initial Token Offerings on Behodler



Token Offering

The minimum tokens to create a market on Behodler are sold and the market is created. The funds raised are sent to the project and Scarcity is sent to the funds providers.

Liquidity Rewards

The people involved in the crowdsale would get Scarcity in proportion to their contribution size and order.

IUO (Uniswap), ICO or IEO

Token Offering

Funds are raised and the market created through centralized parties. The project receives all of the ETH raised immediately 

Liquidity Rewards

On exchanges traders are not rewarded for trading in fact they pay fees. On Uniswap, traders must double invest to pool and suffer impermanent loss during early price rises.

EYE Original Allocations - 10 million $EYE tokens

EYE Current Allocations and Locks

2.58% EYE - Degen VC (Multisig + Unicrypt)

35% EYE - Liquidity rewards (Locked)

3.42% EYE - Behodler dev resources (Dev wallet)

5% EYE - Gitcoin bounties (Dev wallet)

This information is accurate as of 18th February 2021. It leaves 53.89% of the supply circulating.

$EYE: 0x155ff1a85f440ee0a382ea949f24ce4e0b751c65

(do not send ETH to this address)

Behodler advantages


Receive an index tracking token that is programmed through burning to only increase in value with respect to the underlying liquidity pool which itself continues to grow increasingly diverse. In addition to simply gaining from holding Scarcity, investors are able to earn a perpetual share of trading revenue.



Will have access to a pool of liquidity that is on a one way trip upwards because of the token sink properties Whereas market conditions play havoc with price slippage from day to day, Behodler will offer a continual increase in depth, making arbitrage opportunities all the more profitable as time goes on.


The Ethereum ecosystem will benefit from a sink which will decrease the circulation of very important ecosystem tokens such as Eth and WBTC. 


Need not find themselves in a catch 22 of not having enough capital to attract capital. And similarly by enriching every product launch with a dose of Scarcity, token adoption isn't an immediate pre-requisite to capital formation. By removing these bottlenecks, we suspect that Behodler will drive a new wave of developer-led innovation. Founder and Core Developer

Justin Goro

Core Dev | Founder

  • Behodler Github

Launch support team from Degen Labs

Fraser Brown

Co-Founder Degen.VC

  • Fraser Twitter

Paul Khal Scott 

Co-Founder Degen.VC

  • Paul Scott Twitter

Tony Degen

  • Tony Degen Twitter

For Liquidity Mining Event updates and discussion on initial assets please join the Behodler discord

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