Important FAQ + DAO Strategy Update
The DAO has bridged some bscLINK and will be adding more as we add $LINK LPs paired to $UST, $DAI, $ONE (this will also occur with other, recently added large-cap #crypto. (i.e. $MATIC, $JEWEL etc) — as a digital asset depository — the more options to maintain your #hodl the better…
#Chainlink is, and will continue to be a critical component of the entire #blockchain — digital asset tokenization shift underway (it is 1 of 3 projects “officially recognized” by the Chinese government, as of last year).
Until #Ethereum gas prices reduce, the DAO plans to shift towards a Binance Smart Chain (and other chains) strategy during/prior to the v2+ DEX upgrades.
The specifics of this strategy will be provided in another article in the next few days and any necessary matters put to a DAO vote.
It is very important to remember — the DAO & FATExDEX is not a typical #dex, #yieldfarm. Specific information explaining this in detail can be found here in our recently updated docs.
FAQ
- We will be setting up a bscLINK-1LINK LP pool to make the exchange of any members holding 1LINK to make the exchange easier.
The following LP pairs have been launched with bscLINK:
- $FATE, $USDC, $PAXG
The majority of the bscLink treasury holds is in the bscLink-PAXG pool (this is the case for every asset treasury holds in bulk, as of now)
DAO Treasury “practices” —
- A $PAXG-Token LP reserve strategy. We avoid providing other liquidity purposely — otherwise, this reduces the rewards to members and goes against the purpose of the DAO.
- $LINK-$USDC & $FATE-$LINK liquidity pools are intentionally launched with almost no liquidity to give members the opportunity to:
- Receive more rewards
- Preserve their $LINK #hodl.
If you are going to purchase bscLink from our Dapp please note this & (NFA!) — it may be best to purchase $PAXG to do so — which is trading at a significant discount — to your benefit.
- Otherwise:
Users should bring/bridge their own $LINK using one of the bridge options found on app.FATEx.io. This is applicable for almost every asset except #stablecoin, $FATE & #PAXG. (note: treasury has significantly more $PAXG waiting to meet demand — which would be evident when the average exchange price is closer to the general marketplace on larger, centralized exchanges — we are the only “dex” in #DeFi that offers $PAXG — which we use as a primary peg to all assets — for reasons that have, and will be explained in more detail)
If you are not aware — rewards allocations go to FATE pools with liquidity — to maintain high-yield, stable rewards. This occurs daily — so do not worry about the initial allocation and the impact on the “APR” — it will be adjusted to ensure all users regardless of the staked deposit amount, will get a high % yield over the current epoch.
