🚀Flex Perpetuals Launch Plan (BASE)
The launch of Flex Perpetuals on BASE will be done in four key phases. Each launch phase will have different objectives. Below, we discuss the specific details and how you can participate to earn benefits from each phase:
Phase 1: Public Open Beta
At the beginning of our launch event, we will be running a public open beta on Base for users to experience using Flex Perpetuals. Most of the functionalities will be available. Users can start trading and deposit funds into the FLP vault.
During this phase, users have the opportunity to earn rewards in $esFDX tokens by completing designated tasks. Each task will be assigned a specific number of points, and upon completing a task, you will receive the corresponding points. These points will play a crucial role in determining each participant's share of the airdrop rewards. In essence, the more tasks you successfully complete, the greater your allocation of $esFDX airdrop rewards will be.
The total airdrop rewards will be determined by the total accumulated trading volume achieved on FLEX from the start of open beta to one month after Phase 4: Full-Scale Launch starts. If $1 billion USD in total trading volume is achieved, the maximum of 100,000 $esFDX tokens (2.0% of total supply) will be allocated as airdrop rewards to participants. The total airdrop will linearly scale based on the total trading volume with a minimum airdrop amount of 25,000 esFDX tokens (0.5% of total supply).
AirdropTokens = 2e-4*TradingVol + 25,000
Participants of this phase can claim their airdrop rewards approximately 1 month after Phase 4: Full-Scale Launch starts.
Please note that you must complete these campaigns before the end of Phase 1. Tasks completed after the end of Phase 1 will not count towards the calculation of your share of airdrop rewards.
Phase 1 Start date: TBC
Phase 1 End date: TBC
Phase 2: $FDX Token Generation Event
Our TGE operates on a first-come, first-served basis, with the total amount raised determining the launch price.
Key Details:
Total Supply Available: 6% of the total supply, equivalent to 300,000 $FDX. Max Cap: 575 ETH Equal Rate: All TGE participants will acquire $FDX at the same rate. Launch Price Calculation:
The launch price will be calculated by dividing the total ETH raised by the 300,000 $FDX available.
For example: 575 ETH / 300,000 FDX = 0.0019 ETH per $FDX
The key stats for the TGE event is summarized again below:
Link TBC
Phase 2 Start date: TBC
Phase 2 End date: TBC
Duration: 3 days (72 hours)
Token Made Available: 400,000 FDX (8% of total supply)
Minimum purchase amount: None
Max Cap: = 1,500 ETH (If more is contributed, $FDX will be distributed pro-rata)
Contribution Currency: ETH
Vesting: Immediately liquid and claimable at the end of TGE
Before participating 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 SURGE
In this phase, we will bootstrap the FLP vault to build up the market making liquidity to support our leveraged trading feature. To reward the early adopters of Flex Perpetuals, we will be committing additional incentives for the participants of this phase of launch.
The deposits committed in this phase will earn additional monthly incentive rewards. The amount of additional incentives rewarded to the participants will be determined based on the value of their deposits and the batch into which your assets are deposited.
A total of 250,000 $esFDX token rewards will be allocated to the participants. To calculate the share of your qualified rewards, simply use the formula below:
Your Monthly Share of $FDX Rewards = (# of FLP you deposit * Batch Multiplier)/(Total # of FLP Deposits * Their Respective Batch Multipliers) * (250,000 $FDX / 12 months)
Full details on the batch sizes will be released soon.
Please note that the liquidity committed in this phase will be locked for the first month. Afterwards, users will have the option to withdraw their funds anytime. But once they do, they will no longer be able to re-enter.
If the user decides to withdraw his liquidity from the pool, the rewards for that month and the following months will be distributed to the remaining users.
Phase 3 Start date: TBC
Phase 3 End date: TBC
Phase 4: Full-scale Launch
In this phase, all the incentive program and emissions ($esFDX, $FTC, & $FP) will start.
The trade mining campaign to determine the total $esFDX airdrop rewards allocated to the participants in Phase 1: Public Open Beta will continue for 1 month after the start of Phase 4. Contribute your way to FLEX's total trading volume of $1bn to maximize the airdrop rewards in $esFDX.
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