1: Automatic
Please visit the most recent Snapshot proposal approved by the DAO to see the decision details.
This section was updated to align with the DAO approval. We are calculating the exact figures and will work to put them in the vested balance w/ voting rights for the governance of 8.18% after launch. We will vote on the merkle-distribution release using the MATIC governance token - AFTER FATExFI TVL/PRICE GOALS ARE MET.
PLEASE READ (and subscribe) the article in our Substack News/Update Publication (click here) - this explains why you cannot see your vest balance and other important details.
How it works:
On a weekly basis, at minimum, there will be a price check.
So long as the value of FATE issued on MATIC does not fall below 50% vs. the price of FATE on Harmony at the end of the FATExDEX rewards (FATE being rewarded on HARMONY) the allocation ratio will remain.
An 8.18181818% allocation of FATE Matic supply for FATE Harmony holders based on the following - the details and explanation can be found here.
The option creates a minimum value increase of 50% for FATE holders (on Harmony) or it will be a 1:1 transfer. This will be assured by weekly (at minimum) checks of the price and if it does not produce an increase of at least 50% in value at any time during the distribution it will revert back to the original supply.
Beyond the above, the proposal has the following conditions:
The amount of FATE received on MATIC will be based on the percent of FATE issued on Harmony that a wallet will hold at the end of the FATE Harmony rewards (unlocked) and will receive the same percentage of the subject allocation. I.e. if a wallet owns 1% of FATE Harmony rewarded, it will receive 1% of the above allocation.
This amount will be distributed, at minimum weekly, and at maximum by block rate, over a year: 365 days, corresponding to the end of the first epoch of FATExFi and the start of the new locked rewards release (members who have earned FATE on MATIC) and starting 2 weeks (by block rate) after the MATIC FATExFi launch.
The allocation 72,727,272.7 is based on FATE price with weekly “checks” to ensure that the amount will always be +50% more in value, if it is less than 50% more of the value upon closure of FATE Harmony rewards, the number of tokens distributed will equal the amount of tokens a wallet had on Harmony.
Checks will be a minimum of once a week.
The result is that a FATE Harmony holder will always be able to receive 50% more than the value FATE was at the end of FATE Harmony rewards or it will revert to a 1:1 exchange below a +50% value difference.
The automatic allocation granted will be proportionally reduced by the amount of FATE used in the second option as a percent of the total FATE rewarded on FATExDEX. Details of this option can be found on the next page.
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