Welcome back folks! Today, we have some more great news to share with you about Function Island! Since our last article, we have seen the launch of our $xFARM token, the launch of some V3 pairs on 9INCH, a huge pump in our $ISLAND and $FARM tokens, a huge milestone for our external revenue holdings on IMPLS and a brand new video about Function Island! Buckle up folks, because this one is going to be juicy!
$xFARM Launch
First and foremost, we are pleased to announce that our $xFARM token is now live! You may ask: What even is $xFARM? Well, $xFARM works identically to Degen Protocol's $GOAT token (and was made by the same dev too). Essentially, its price relative to $FARM can only increase. This is due to how there is a 5% fee on the minting and redemption of $xFARM that goes to increasing its price relative to $FARM. Moreover, $xFARM is minted using $FARM, and there is no buy, sell or transfer tax on $xFARM, so you can purchase/sell it on the open market without being subject to the 5% mint/redemption fee.
9INCH V3 LP
Secondly, we are happy to share that we have created 9INCH-ISLAND and 9INCH-FARM V3 liquidity pairs on 9INCH! Some core benefits of V3 include increased APRs, the ability to concentrate liquidity to specific price ranges, and improved efficiency. Nevertheless, V3 LP will be a core aspect of Function Island's developments in the near future, so stay tuned folks!
Massive Price Growth
Thirdly, we are ecstatic to share that our $FARM and $ISLAND tokens have seen massive price growth within the past week! $ISLAND has increased by around 5x, and $FARM has increased by around 4x! The recent price action can likely be attributed to our launch of $xFARM (which also pumped). Both $FARM and $ISLAND's weekly charts can be seen below.
$IMPLS Milestone
Fourthly, we are pleased to announce that our stake of $IMPLS in IMPLS Finance's revenue sharing service has finally reached over 15,000 tokens! This amount is over 5% of the total supply of 300,000 tokens! This amount is also currently staked to earn around 15.47% annually in $PLS (at current rates). As we continue to work with IMPLS Finance, we aim to reach even greater milestones and earn greater passive income that will directly benefit the entirety of the Function Island community!
New Video
Finally, we are pleased to announce that our friend, DJ Khalid, has made another video about Function Island! This one discusses $xFARM in greater depth, and is utterly amazing! We look forward to his future videos, especially since we are only getting started here at the Island! The video can be found here!
More to Come
We have plenty more developments in the works folks, and are planning to launch a heavy marketing campaign within the near future! Be sure to join us on our PulseChain revolution today by following us on our Twitter/X, joining our Telegram and checking out our website to learn more and stay up to date with the latest Function Island news!
As always, thank you for reading, this is not financial advice, do your own research and stay safe on the blockchain! I appreciate all your support! You guys can follow me on Twitter/X and join my Telegram group! If you want to support me further and support the work I do on the Function Island team, consider leaving a tip and following our socials, we really appreciate it!
