Welcome back folks! We hope you are all well. Today, we are back with some more news from Function Island! From our partnership and upcoming AMA with Experiment626, our upcoming $iDAI staking pools, the launch of $xISLAND, and more, the last few weeks have been quite eventful!
New Partnership
Firstly, we are pleased to announce our partnership with Experiment626! You may ask: what even is Experiment626? Well, it is basically an up and coming project on PulseChain ran by our beloved community member, Frank White, and built by our very own dev, Don Function! Besides their zero tax $E626 token that perpetually burns itself and $ISLAND with its burned LP, they are planning on launching their very own profit-sharing/passive income NFTs, so stay tuned!
Upcoming AMA
Secondly, we are pleased to announce that we will be holding an AMA (ask me anything) with Experiment626 on Monday June 17th, 9:30 PM EST! We will be discussing everything that they have to offer and their upcoming plans. We will also be giving away some tokens to attendees of the AMA! Be sure to join my telegram channel, as that’s where the AMA will be hosted!
$iDAI Staking Pools
Thirdly, we are excited to share that we have been developing staking pools that will emit our very own $iDAI stable backed token! Besides providing even more volume and arbitrage opportunities for $iDAI, this will allow users to get a more stable return on their investments within Function Island! Here is a little sneak peak of the code that our developer has been working on!
$xISLAND Launch
Fourthly, $xISLAND is now live! It works exactly the same as $xFARM, which I covered in my previous article. Essentially, its price relative to $ISLAND can only increase. This is due to how there is a 5% fee on the minting and redemption of $xISLAND that goes to increasing its price relative to $ISLAND. Moreover, $xISLAND is minted using $ISLAND, and there is no buy, sell or transfer tax on $xISLAND, so you can purchase/sell it on the open market without being subject to the 5% mint/redemption fee.
More To Come
We are ecstatic to announce that we have plenty more developments coming very soon! As a little hint to you devoted readers, we may or may not be developing a decentralized exchange! Finally, the vote for our mascot has also resulted in "The Func Master" becoming his new name! 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!
