FATExFi: FATE-MATIC deployment updates and the 1st of several proposals requiring DAO member snapshot vote
Rewards Schedule Proposed For Epoch 0 of FATExFi — FATE rewards multiple
FATExFi is coming closer to launching….!
Development is almost complete and we’re starting to prepare for the launch.
We are going to be proposing several important components related to some of the topics in the sub-title, listed directly below, and other, additional aspects over the next few days. Please use the forums and/or comment here to contribute constructively.
As always please read the disclaimer at the end of this publication.
Quick Update On What Is Coming / DAO proposals on deck:
In addition to this proposal, expect additional requests for DAO voting on topics like:
- Pre-mint allocations (that have not been decided yet) of FATE supply
- The details of the liquidity pools (token pairs and rewards allocations)
- A general guideline for use of CapEx (and the strategy to obtain it)
- A pre-sale offering (that will allow FATE Harmony holders to immediately access their tokens) and assist with maximizing the liquidity at launch
- the final details (i.e. exact timing) regarding the conclusion of FATExDEX on Harmony and the launch of FATExFi on MATIC
- Member elected board of directors: the inception, roles & responsibilities and additional specifics et. al.
These will be published very soon and once they have been decided the DAO documentation (Green-Paper) will be updated with the new info and made into a “lean,” simple version of the original.
Tokenomic Decision: Rewards Schedule for Epoch 0
Epoch “0” — Emissions Schedule Proposal — 52 weeks of FATE
The length of the first rewards epoch is 52 weeks. This will allow the release of the FATE recipients gained from owning FATE Harmony to have their rewards unlock automatically without impacting the price of FATE dramatically due to supply shock. The proposal, visually depicted below, takes into account the impact of this release (which amounts to an unlocked rewards multiple of +x4).
In the proposal the rewards rate multiplier steadily increases by 1.8% per week. This has several benefits, mainly it avoids any drastic ‘shocks’ due to halving or decreasing rewards rates and is not punitive to users who did not start participating as soon as others. It encourages longer staking and discourages withdrawals after the multiple-tiered withdrawal fees have reached levels that are less punitive (fees decrease exponentially over approximatelty 5 weeks).
An effort to keep the FATE supply in circulation below 20% of total supply by the end of the first 52 weeks is made. However, this is not accomplished under the proposed model (and is why that component is highlighted in yellow); however, the primary focus of this first stage of FATExFi is to collectively fund, decide the details and begin building (and offering participation in its potential via member share ownership) the utility token and platform that will support: FxD — a totally novel and potentially game-changing FX, algo-stable, real-asset backed fiat-to-fiat denominator utility token that can work as a mainstay for a web3.0 cross-border remittance platform that can integrate with existing commercial grade payment platforms and function on its own, the more it is used, the more effective, cheaper and frictionless the system becomes: it will only help and increase usership of any platform that chooses to adopt it. It is also proprietary enough that once it is built and the IP legal protections are properly implemented it will be nearly impossible to have competitors replicate it or derive an alternative. We will reveal enough details about FxD to allow DAO members to make an educated vote that approves the DAO using its capital to puruse the development of FxD first — however if there are any better ideas that would make more sense from a “for-profit-enterprise” perspective, the DAO will happily pivot to do whatever is the best.
The schedule proposed for DAO vote in our governance snapshot (found here) is depicted in the image below. Note — this includes a supply impact analysis — please add a note to this posting and/or discuss it in the Discord channel sub-topic: “dao-governance” using this link: https://discord.gg/RgNKadMpq or for basic inquiries the FATExDAO telegram channel will suffice.
Please vote in snapshot to approve this (or not) — and remember, we can change this via a new proposal and vote at anytime.
How will we keep FATE supply low?
Re: supply — keep rewards steady but not excessively high and avoid halving cliffs. The DAO has learned from predecessors — and the use of schedules that have multiples producing APRs in excess of 200% are unsustainable and cause major devaluation events and/or frivilously damage a tokens price. They are usually the design of undoxxed teams consisting of people with little understanding of economics and almost no experience with financial market or complex macro/micro economic theory. These teams are trying to temporarily “pump” demand so the liquidity and price increase so the inevitable supply dump is less negatively impactful.
FATExDAO plans to implement a hybrid-token (FxD and FATE) rewards model; at best a FxD-only rewards model (which would mean the development and launch of FxD is solidified) that would likely accompany receipt of FATE for member participation in the DAO and would allow for a more equitable use of voting privledges that would not favor users with more assets (whales).
The details of this, FxD and the evolution of the FATExFi product/service offerings and capital rewards paradigm will be developed/discussed after the DAO has decided on the initial underpinnings of FATExFI (i.e. the reward schedule and other major components listed at the start of this publication). Further justification for this proposal will be supplied as well. It is important to understand that if you are a DAO member (hold FATE and contribute capital) — it is to collectively use the contributions and the dynamics of a slimmed down liquidity pool “farm” model to build products/services, avoiding the pitfalls and unequitable practices used by early development VC financiers, and allow us to use digital asset tokenization/DLT in a way that greatly improves the financial industry and creates use-case and applications that are undeniably better than existing alternatives. The products and services the DAO is building will be commercial-grade, sustainable, equitable and should create solutions that are not replicable (unique), low cost and innovative to a point where not using them would be counter-intuitive. The underlying mission has many components, but none of them are achievable without ensuring all those whom participated in the DAO will deem the results lucrative.
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 information — and are covered by trademark and copyright, with patents pending.
NOTHING SAID SHOULD BE TAKEN AS INVESTMENT OR FINANCIAL ADVICE.