FATExFi: Member Bonus TVL Tier Reward Proposal
Explanation of Snapshot Proposal
NOTE: You may assume this will pass, we have already promised 50% for current participants and that will not change. We have allocated enough FATE to the community vault to support the proposal, but it is important that the details are officially approved by the DAO.
We strongly encourage you to obtain FATE tokens via FATExFi.io and add the following voting power token to be used to participate in DAO snapshot proposals found HERE.
Governance Voting Power Token address:
0x874250204B72354Ba789a57d39E291C515bc820a
[Add this to your wallet to have the ability to vote]
Details of Tier Bonuses:
Members will receive a bonus of their FATE balance in the FATE-USDC pools when we pass the below TVL goals for that pool and take a snapshot.
Until the snapshot is taken please do not remove your staked LP until we announce the snapshot has been taken (we will not be automating this process)
50% - +$50,000
30% - +$100,000
25% - +$250,000
The bonus will go into the vest balance merkle distribution(s), which cannot start until we have a minimum TVL. There will be other proposals soon regarding the distribution related to timing, Harmony’s allocation, etc.
Simplified Example of how this will work:
If you have 10,000 FATE staked in the FATE-USDC pool and keep the FATE in the LP at a balance of 10,000 as we hit the 3 tiers’ goals through $250,000 and have 100 FATE when we take the last snapshot will receive: 10,500 FATE
5,000 FATE
3,000 FATE
2,500 FATE
Reason:
We need members to participate by contributing capital and voting.
This will reward members who are participating in FATExFi.io (MATIC)
The FATExFi tokenomics system is very strong.
The DAO Treasury is not relying on selling FATE to produce capital (see prior posts/official docs regarding our strategy)
Before any vested balance distribution (from Harmony) we need to hit a TVL in the FATE-USDC.
THIS PASSED