DAO Update — Happy New Year 2022
Important FAQ/Reminders etc
FATExDAO is not a DEX (in retrospect the use of the name FATExDEX was not the most logical choice — however, it currently looks and works just like a DEX — so technically it is correct and may naturally start acting like one — but that is not a priority — the current priorities and where we are in deploying them will be provided in another article).
We will be evolving into FATExFi quite soon (per our original roadmap that was to occur at the end of Q1 2022).
FATExDAO is a Fintech product & services DAO with the same aspirations as any corporation.
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It is best to view and treat the DApp as a bank for your digital assets.
We do not recommend using the FATExDEX swap for any other assets except PAXG & FATE at this time.
Sushi, Viper, DFK and exchanges that support BSC are the best place to acquire assets if you wish to deposit them on the DApp.
The DAO is not a liquidity provider.
Beyond the above, as related to DApp usage in its current state: it is a DeFi services provider.
(The article mentioned above will explain the prior statement in details as well, but current examples include the increasing PAXG liquidity — the vast majority of it has shifted to the FATE-PAXG LP, where it will stay & the launch of bscTOKEN-1TOKEN LPs)
The DAO uses the DApp to:
1. Build CapEx while minimizing the selling of FATE (which Treasury has not done for a while at this point — when we do — you will be informed)
2. Create the foundation for FATExFi’s future products/services and DeFi banking/investment platform.
For members, the DApp should be used to:
1. Grow long term FATE holdings — there will be an article published shortly regarding the strategy of allocations, but as an FYI:
Only FATE-PAXG; FATE-xFATE & FATE-ONE liquidity pools are receiving allocations that can support any amount of increased deposits and maintain a 3–4 digit APR.
2. To deposit members long-term assets — however until the upgrades planned after v2 — particularly for non-PAXG/non-FATE pools — are live we are purposely not “encouraging” this use. (an article on why we use PAXG and why it is better than stablecoins will be published soon)
(After v2 is deployed we will be working on launching a borrowing system so members can keep their deposits and use a majority percent of their deposits as they wish, and still earn FATE)
This is why there are so many stable-coin and PAXG LPs.
NOTE: If a member wants to create an LP that does not exist and the LP will have an average of 10K (this amount can change) they should email us at email@example.com and we will create allocation for the LP.
We are intentionally avoiding attention (we have a marketing plan but are not commencing with it) and taking a defensive stance on current FATE being rewarded.
In part, this is why the allocations are focused on 3 LPs and we will be proposing the option of an emissions reduction (which will accompany an article detailing the reasoning) if it is justified. (3–4 digit APRs at this price and TVL are not productive or sustainable until FATE demand/price increases significantly — which it will — based on simple economics.)
We will also be proposing to archive the majority of the FATE-non-stable LPs.
V2 will require a migration of LPs and the ending of the current epoch. Details of this will come when it is applicable.
We do not want yield farmers — we want members who understand and support the DAO. We will be creating new, better content (i.e. YouTube videos, FB, IG, and a 2-page lean paper) to help members understand why they should support the work the DAO is undertaking.
Expect the 3–5 additional articles soon! We wish everyone safe, healthy and happy New Year!
Thank you to all who are reading this and have stuck with us!
We are 4 months in and have only started the journey!
The goals we have do not happen overnight and we are in a very good position to achieve them (we do not judge our performance based on FATE price and TVL like a DEX — but by building the things we have planned since they were conceived 1–15 years ago…)
We appreciate you understanding how focused we are on working to make it happen.
None of the information communicated should be taken as financial advice. You must be responsible, do research and make your own decisions regarding participation as a DAO member. The messages and/or written content (including any attachments) contains proprietary information — and are covered by trademark and copyright, with patents pending. NOTHING SAID SHOULD BE TAKEN AS INVESTMENT OR FINANCIAL ADVICE.