⏺️BASE Debut Plan
Phase 1: Public Base Debut
Kicking off our Base Chain debut event, we'll initiate a public beta on Base mainnet for users to get a feel of FXDX in action. Most features will be live. Users can commence trading by supplying their desired collateral and deposit funds tin FXDX vault to earn fees.
During this phase, there's a chance to earn rewards in $esFXDX tokens by completing specific tasks. Each task has its own reward factor, and on task completion, you'll get the reward points. These reward points will be crucial in determining each participant's proportion of the airdrop rewards.
Simply put, the more tasks you complete, the bigger your slice of the $esFXDX airdrop rewards. For a detailed breakdown on eligibility for the airdrop, please refer to this page.
The total airdrop rewards will be set by the total protocol volume on FXDX from the beginning of Phase 1 to 1 month after Phase 4: Ultimate Kickoff.
When we hit a trading volume of $1 billion the maximum of 10,000,000 $esFXDX tokens (1% of total supply) will be dedicated to airdrop rewards for participants. After the end of 1 month of full-scale launch, FXDX will retroactively distribute 250,000,000 $esFXDX tokens in the next 60 months to incentivize both LPs and Traders. This allocation will be coming from our Community Allocation. For more details, check our entire tokenomics here.
Total Airdrop Tokens = 10,000,000
Phase 1 Start date: Thursday, Aug 28, 2023
Phase 1 End date: Wednesday, Oct 11th, 2023
Phase 2 - $FXDX Token Generation Event - Completed
During Phase 2, users can participate in our Token Generation Event for 7 days. During this event, FXDX tokens can be bought at the fixed price of $0.1 per FXDX.
The available supply for the Token Generation Event will be capped at 1,000,000 FXDX (0.1% of the supply), and participants can contribute ETH or USDbC to the contract and get FXDX tokens in return after the two-day cooldown period.
The maximum cap for raising funds is $100,000 USDbC. If the contributions exceed the maximum cap, the additional contributions will be refunded, and FXDX will be distributed proportionally.
The summary of TGE Event is:
Participation Link: https://app.fxdx.exchange/launch
Start Date : Saturday, October 1st 2023, 2 PM UTC
End date: Friday, October 7th 2023, 6 PM UTC
Duration: 7 days
Token Available for Sale: 1,000,000 FXDX
Token Price: $0.1
Minimum purchase amount: None
Max Cap: = 1,000,000 USDbC (If contribution exceeds map cap, $FXDX will be distributed pro-rata)
Contribution Currency: ETH, USDbC
Claiming: Immediately liquid and claimable after two-day cooldown period from completion of TGE.
To be eligible to participate in the Token Generation Event (TGE), you must confirm that you are not located, incorporated, or a citizen or resident of the United States of America, People’s Republic of China, Bermuda, Burundi, Central African Republic, Cuba, Democratic Republic of Congo, Eritrea, Guinea-Bissau, Iran, Libya, Mali, North Korea, Palestine, Republic of Seychelles, Somalia, South Sudan, Sudan, Syria, Western Sahara, Yemen, Crimea and Sevastopol, or any other state, country, or jurisdiction where participation in this launch would be illegal according to applicable law.
Phase 3 - FLP Saga
Liquidity is the bloodline of DeFi, especially for perpetual trading platform like ours. FLP Saga is FXDX's Liquidity Incentive Program where we onboard Liquidity Providers to help us boostrap our Liquidity Pool, FLP.
FLP Saga is our 1 month event where users can mint/buy FLP and lock liquidity for minimum duration of 1 month (the lock period) and get additional monthly esFXDX rewards apart from regular fee rewards. A total of 88,750,000 esFXDX has been set aside for the FLP Saga Event for a reward duration of 1 year. This supply will be coming from combination of Community and Treasury allocation from the Tokenomics.
One can find monthly esFXDX reward per User can be calculated as follows:
Users must note that the liquidity they commit during this phase or previously commited will be locked till the end of the hold period. After the end of hold period, users will be able to withdraw their funds at any time, if they wish to. However, please note that once they opt to withdraw, they will forfeit the monthly rewards after the hold period.
In the event that a user chooses to withdraw their liquidity from the pool, the rewards for the current month as well as subsequent months will be distributed among the remaining participants.
Important Dates:
Event Start Date: 12th October, 2023
Event End Date: 12th November, 2023
Hold Period Starts: 12th November, 2023
Hold Period Ends: 12th December, 2023
All liquidity contributions will be subject to an automatic lockup until the end of the Hold Period. During this duration, FLP holders will continue to accumulate fee rewards in USDbC and receive airdrop rewards as per the usual.
Furthermore, any FLP Saga Rewards will be provided in addition to these existing rewards, and the distribution of these rewards will commence at the end of the Hold Period. This applies to all current FLP holders, as well as those who become FLP holders as soon as the Event commences.
Phase 4 - Ultimate Kickoff
TBA
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