General Update & FAQ re: FATE token stats for the end of epoch 2
Please note the disclaimer at the end of this posting.
Epoch 2+ FAQ:
Start Block: 20368753
End Block: 22787953
Length: 8 weeks (w/out latency)
Epoch 3 will end on Harmony Block: 25207152
Current reward rate: x8.1818…(this will be reduced to x7.72…)
At this rate, the DAO can sustain rewards for over 200 weeks (+4 years)
44.5 million FATE were released during epoch 2. <200 wallets participated. (this is good)
FATE wallet list with total locked rewards for epoch 2 can be found here.
(if you wish to use the sheet make a copy) — treasury wallets have an “X.”
Treasury absorbed 41% of the locked rewards and will be returned to the reward controller (or kept to absorb more rewards until v2 is deployed) — these FATE will be used for the DAO. The wallets’ addresses holding these FATE can be found in FATExDAO github.
Per DAO snapshot vote — epoch 2 locked rewards will be released over 52 weeks starting today— the last locked rewards for this epoch will be approximately: February 15, 2023. Note: treasury/team abstained from voting until <24 hours were left for members to vote, the majority was in favor of the 52 weeks without that vote.
The first epoch’s locked reward release remains unchanged.
The DAO plans to migrate to a new smart contract (v2) and then redeploy on MATIC blockchain. We will vote upon the details of these two events, which will likely change the locked rewards being released and/or start a new epoch automatically.
We anticipate proposing a much better value option than having members sell their FATE at any prior average value.
As most of you know we are in a holding pattern and want to avoid attention/yield-farming until v2 is deployed. When v2 is deployed we will commence with an aggressive and professionally run marketing/content campaign (we started the process of updating media content) and the DApp will become FATExFi.
We have another dev in the process of testing v2 smart contracts.
Epoch 1 & 2 locked rewards release will occur starting tomorrow, and regularly, every week on Wednesday/Thursday (depending on time zone).
Treasury has at least enough capital for the expenses through moving to MATIC. The strategy has been to only use FATE to market stabilize PAXG — treasury has enough PAXG (which we are currently selling to reduce the price) for near-term CapEx requirements.
Please use discord/telegram to discuss.
DISCLAIMER: 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.
