FATExDAO Update — Time to buck up…
Allocations / Snapshot — 3.2.22
***Please note the disclaimer at the end****
Allocations & Rewards
The DAO has been in a defensive position — absorbing rewards and allocating to basically 2 LPs. Because of the plans for the MATIC move (full spread of details to propose and vote upon regarding that are coming…. until we have a set date for the move there is not need) it’s time for the 300 to step up and accumulate the FATE. (we’ll be getting more members soon… ;)
The new rewards allocations:
What does this look like and why?
APY (the shown APY makes the assum[topm that the conditions determining it will be unchanged for approximately 365 — we all know it’s not exact) is determined by the FATE rewards per block, allocations of those rewards to an LP, the value of FATE, and the amount of value staked in the LP.
- The rewards multiple (FATE per block rate [every 2 seconds]) is x7.272
- 1 FATE costs… basically nothing.
- There is barely any value staked.
Yet… this is VERY good.
- The DAO can go on at that multiple for over 200 weeks
- If FATE price rises and all other conditions remain the same the value of the rewards will increase by the same multiple (given the current price and liquidity staked — 200–300 people and not very much capital purchasing FATE can do what occurred in October — November (x10–100 the price)
- (NFA) there is very little downside(?) — if we remember the PAXG — FATE lesson (see the last article, we will repost a simpler version, for those who are following that strategy) — if you stake FATE with a stablecoin, if FATE value rises — you get more UST/USDC… Yes, you will have less FATE, but there is more than enough of that to go around… so buy more… and if FATE price rises because there is so little liquidity, it will also raise the APY (you get the same amount of FATE being rewarded, but now it is more valuable)
If we can go on at this rate for 4 years….
Why do you want FATE now?
The Harmony FATE to MATIC FATE “migration” will NOT be 1:1. It will be based on a percentage and the value of MATIC FATE at a certain point (if members don’t benefit from this proposition greatly it will be 1:1 — but since we will have access to a lot more on-chain capital and users & there will be deterrents in place to prevent short-term yieldfarmers and reward long term hodlers/members — and we will not be pumping the reward multiple up like other liquidity farm schemes we’re all to familiar with — and there will be stable unlocking and short term epochs that take the MATIC FATE rewarded into account… etc etc…. you get the point. We’re all going to win.
The move to MATIC will not take 4 years… It is being worked on now. We will likely put V2 smart contracts in before the move (no promises) — if that occurs we’ll boost up the emissions… But, fellow 300s’, don’t wait for that. If we do that we’ll start marketing, professionally….
The time for FATE: UST/USDC/ONE/PAXG is now… If you want more PAXG bridge it, if you want less price impact on FATE, put a ‘lil some-some in the LPs above….
SNAPSHOT WILL BE BACK UP IN A FEW DAYS — IT IS DOWN BECAUSE HARMONY ENDED THEIR HOSTING AND WE HAVE TO SET UP A NEW SNAPSHOT DIRECTLY.
NO SIGNIFICANT ACTIONS OR DECISIONS WILL BE TAKEN OR MADE WITHOUT DAO PROPOSALS AND VOTING.
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