FATExDAO’s — FATE Tokenomics/Unlocking Epoch’s Timing Explained
For rewards to work properly they are based on a FATE per block rate.
FATExDAO is currently on Harmony Blockchain, which produces a block every 2 seconds.
However, there is latency on the block-rate — this impacts: rewards/fees (anything based on the block rate) is subject to being impacted by the latency.
Generally, this is a fundamental component of blockchain-DeFi: a block-to-time ledger for the coding of Dapps and crypto-tokenization.
It is effective and unique, but like any other new technology, it is new and not perfect.
We plan to grow to other blockchains to support Dapps that will not be manageable with the issues are still working through. As a Harmony eco-system member by default, we are supportive, and always want them to achieve the highest level of efficacy that is possible.
Epoch 1 Timing
The original 13-week epoch was meant to be a total of 13 weeks long.
Epoch #1 Block Rate Timing:
However, technically the epoch is as follows:
- The start block # was 16,437,552
- It ends at block # 20,368,752
At this rate — Epoch #1 will end around Dec. 10th 2021. (the closer the block rate the more accurate the timing will be, the less impactful the latency will be)
We announced the latency issue on Nov. 4th 2021.
This negates the snapshot proposal specifics related to the exact timing found here.
Epoch 2 Timing
Epoch 2 details:
- Will commence at the launch of v2.
- Epoch #1 will “end” and unlocking will start on the date and weekly day voted upon in a new snapshot proposal.
- The length will be 8 full weeks (but fundamentally determined by Harmony block rate latency).
- Locking/Unlocking of FATE rewards will be 92% locked / 8% unlocked.
- Release of these will occur of the same weekly allocation — the length will be decided towards the end of the epoch.
- v2 is expected to launch between 12/6 & 12/10.
