FATExDAO Update: Earn 105% Vested Airdrop / FxD Stablecoin / Polygon Support
1. We have received official support from Polygon! They’re supporting the development of FxD’s first component, which we are in the process of building now.
3 Major DAO Updates:
1. Official Support from our friends at Polygon!
We have received official support from Polygon! They’re supporting the development of FxD’s first component, which we are in the process of building now.
2. FxD Stablecoin v0
We are breaking the development of FxD into parts to deploy and gain traction faster. FxD is a protocol offering multiple products/services that will each be built separately. When all are done they will be combined, like Transformers into a crypto-Megatron.
FxD token v0 — a multi-real-world-(precious)-assets stablecoin collateralized, non-inflationary stablecoin (we will use PAXG to start and add more). Details of this can be found in our updated documentation. It is being built from MakerDAO’s DAI MCD system and we will be able to offer the same features as their system, the main difference being no “crypto-only” collateral will be used (DAI uses Ethereum as collateral)
We will announce when testnet is ready — this is our top priority.
3. Details of Tier Bonuses:
Members will receive a bonus of their FATE balance in the FATE-USDC pools when we pass the below TVL goals for that pool and take a snapshot.
Until the snapshot is taken please do not remove your staked LP until we announce the snapshot has been taken (we will not be automating this process)
- 50% — +$50,000
- 30% — +$100,000
- 25% — +$250,000
The bonus will go into the vest balance merkle distribution(s), which cannot start until we have a minimum TVL. There will be other proposals soon regarding the distribution related to timing, Harmony’s allocation, etc.
Simplified Example of how this will work:
If you have 10,000 FATE staked in the FATE-USDC pool and keep the FATE in the LP at a balance of 10,000 as we hit the 3 tiers’ goals through $250,000 and have 100 FATE when we take the last snapshot will receive: 10,500 FATE
- 5,000 FATE
- 3,000 FATE
- 2,500 FATE