Proposal Explanation: FATE MATIC Allocation for FATE Harmony holders

Explanation of proposal details 3.29.2022


Please read the disclaimer at the end.

FATExDAO is not a rug-pull or some liquidity scheme. We are one of the first true DAOs, incorporated to correct many issues that have been seen in the practices of other DAOs that use liquidity schemes. This is not an attempt to extract funds, it is a way of circumventing the angel investing process and working directly with members from the onset. We are a true DAO — everything we do we decide together. If you have an issue with the leadership — join it, vote them out in no confidence.

Please use this as a basis for the DAO proposal for the allocation of FATE HARMONY holders when FATE is re-deployed on MATIC.

The underlying point is that this proposes, at minimum, a constant 50% value increase for holders. If it does not meet this threshold, the weekly unlock will revert to the original holder amount of 1:1.

Important Finding:

After the below analysis was completed, we realized that it is not best to distribute all the FATE HARMONY tokens — the ratio of transferability should be less — not more. You will understand why after seeing the proposal. This counters the recent proposal that passed to increase emissions and align those with the termination of FATE Harmony rewards.

Intro #2

The original model was intended to be based on the relative success of our predecessors: Venom DAO, except the model, was significantly different because we did not charge withdrawal or deposit fees — in the true nature of DeFi.

This was a rampant internal debate amongst the original founders. We decided to deploy with what we had built.

FATE MATIC Reissuance Overview:

There are several reasons why we are re-issuing FATE with the original supply on MATIC.

Please note — the move and re-deploy (vs. migration) component has been decided as a finality: there is no migration event the reason for this is that we hope to increase the value for holding FATE this article is proposing the details of how those who own FATE Harmony will benefit from the move to MATIC and explains why.

The following is why we elected to re-issue and not-migrate FATE:

  1. We have to move to MATIC (this has been addressed) for the sustainability of what we intend to complete first.
  2. It is easier than a migration event for members and development (other DAOs have reverted to different measures i.e. issuing an entirely new token — what we are doing is easier than rolling those up into one governance token)
  3. An upside repricing event will likely occur when combined with a more conservative approach to the release of FATE rewards & V2 withdrawal fees:

a. that are punitive to short-term yield farmers

b. buy xFATE with withdrawal fees

#3 is predicated on an increase in demand, but, because we have avoided marketing for a few months, we only have about 300 active users. Almost any purchase of FATE above $10 noticeably increases the price. We will be focusing on marketing asap — especially given that owning FATE on Harmony is more desirable than if this were not to occur. However, it is important to note — this is not about the money.

FATE MATIC Supply allocation proposal:

Please see the Gitbook documentation for the original allocations. These are not substantially different, except it carves out an amount for FATE Harmony holders. Gitbook will be updated upon approval of this proposal — which will be up for 1 week, given the importance of the decision.

The details of the proposal for the FATE Harmony to FATE MATIC transfer are the following:

● The amount of FATE you will receive on MATIC will be based on the percent of FATE issued on Harmony that you currently hold (unlocked) and will receive (locked rewards remaining) that is connected to a wallet address (it can be “active” in an LP or xFATE) versus the entire amount of FATE held by members who were not a part of the Harmony pre-sale/mainnet.

● This amount will be distributed, at minimum weekly, and at maximum by block rate, over a year: 365 days, corresponding to the end of the first epoch of FATExFi and the start of new locked rewards release (members who have earned FATE on MATIC) and starting 2 weeks (by block rate) after the MATIC FATExFi launch.

● This amount will be distributed, at minimum weekly, and at maximum by block rate, over a year: 365 days, corresponding to the end of the first epoch of FATExFi and the start of new locked rewards release (members who have earned FATE on MATIC) and starting 2 weeks (by block rate) after the MATIC FATExFi launch.

The supply allocation has a fixed, minimum, 50% value increase expectation that is constant, or it will revert to the original.

The allocation 72,727,272.7 is based on FATE price with a minimum of weekly “checks” to ensure that the amount each holder receives will always be +50% more in value if it is less than 50% more of the value upon closure of FATE Harmony rewards, or the number of tokens distributed will equal the number of tokens you had on Harmony.

You will always be able to release your pre-MATIC FATE for 50% more than the value you had when the rewards were ended.

Here is an example: approximately 25% of the total supply has been distributed for rewards (eligible for this proposition). A FATE Harmony holder has 1% of this. That is 2,297,931 FATE with a value (at time of writing — based on $0.00001900 per FATE) of $43.66068064. 1% of the FATE MATIC allocation of 72,727,272.7 at a price of $0.00010000 is $72.72727265, not including price impact. This is a 66.57% difference.

Price Model 1
Price Model 2

At $0.00100000 that amount is $727.27272655, a 1565.74% difference.

At the moment: anything over $0.00009000 provides at least a 50% gain:

Price Model 3

It’s important to emphasize that we do not know what the price of FATE on MATIC will be and that it is a governance token for a fintech-DAO focused on pooling member capital to build FxD (a single utility token, algo-stabilized, backed by a very specific set of assets that works to greatly reduce the transaction cost of major currency exchanges by acting as a central peg, reserve denomination) and subsequent products and services.

To end any confusion — this proposal will not “hurt” anyone — it is the easiest way to regain price stability and value for members.

In addition to this we are proposing the following in other proposals:

The subject allocation will:

  1. Supersede all other proposals.
  2. Will be locked for 52 weeks, commencing 2–3 weeks after the FATE MATIC issuance and released at minimum weekly and maximum per block over a 52 week period, we would like to reduce this if possible.
  3. The epoch of FATE MATIC will be 52 weeks, and aligns with

The reasoning for this was conducted in the FATE MATIC tokenomic analysis — e xample of this is below — we are not proposing anything regarding the tokenomics at the moment except that we would like it to be a set schedule over the 52 week epoch, with rising emissions. We need to have this approved before we propose the tokenomics of FATE MATIC.



​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 contain proprietary DAO information — and are covered by trademark and copyright, with patents pending.





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35 Followers is a Neo #DeFi DAO FinTech enterprise, focused on large-scale DLT/tokenization, ESG/CSR bank-grade solutions: FATExFi — FxD.