FATExDAO — Updates: April 4 ,2022
MATIC Move, Rewards Multiple Increase, What’s next?
Updates for April 4, 2022
FATExFi Launch on MATIC
DAO vote passed for the FATE Harmony holders allocation (note — founders/”insiders” did not vote) found here: https://bit.ly/3qXDRpm
The vote approved a +8% locked allocation for FATE Harmony holders to receive FATE MATIC over a 52 week period. It guarantees a minimum of +50% value increase from the final value when rewards end on FATExDEX (FATExFi will launch anew, with the same governance token on MATIC) or the release will revert to 1:1.
The date of redeployment will be announced and counted down. It is expected to be 2–6 weeks from now.
Rewards Multiple Increasing
Rewards multiple will be increased until it is at least x16 (the current multiple is <x8) — given the structure of the redeployment — members should be incentivized to acquire more FATE. All FATE (regardless of how it is being used) will be accounted for and connected wallets will be automatically rewarded. Additional findings from the FATE MATIC allocation analysis conducted prior to the proposal that just passed is that it is not sensible to deplete the FATE Harmony supply entirely — however, we want to provide an opportunity for members to increase their FATE holding so that they can receive more from the FATE MATIC allocation release.
Please ask as many questions as possible — we will publish additional postings based on the types of questions that come in and their frequency.
The DAO wants to encourage members to bridge PAXG before the move — now that gas prices are drastically less — it would be very helpful for all if users took advantage of the inflated price of PAXG on FATExDEX. We will publish a more detailed article explaining why. However, the simple explanation is if you create a FATE : PAXG LP — you will receive more PAXG under the following conditions:
- FATE price rises
- PAXG price falls
At the moment, you should be concerned about the quantity of FATE (and PAXG) not the price.
Allocations for increased emissions will focus on FATE:PAXG, FATE:ONE, FATE:USDC, FATE:UST.
We will be electing a DAO member-run board of directors/advisors before the MATIC move.
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 contains proprietary DAO information — and are covered by trademark and copyright, with patents pending.
NOTHING SAID SHOULD BE TAKEN AS PROFESSIONAL INVESTMENT FINANCIAL ADVICE.