Brothers of Dark, Sisters of Moon, the time is upon us. We find ourselves fast approaching the most critical juncture in the history of Dark.Build: DB DEX. It is this moment that will solidify our code and our name amongst the Titans of DeFi. In preparation of our quickly approaching UI launch, we are holding a Liquidity Bootstrapping Event to both expand our exposure to users and to hit the ground running with liquidity the moment we release.
The Dark.Build Decentralized Exchange (DB DEX) “Liquidity Bootstrapping Event” will take place in 3-phases over 30 days. This event is heavily incentivized to encourage users to transition their liquidity to our exchange. After careful evaluation, 10 LP pools have been selected for their utility, value and presence on the L2 Polygon Network. Our idea here is simple: convince you to come for the rewards and let our next-gen features convince you to stay. Make sure to take full advantage of this, as it’s gonna be a one of a kind opportunity to get in on the ground floor of our exchange. It’s very important to note that by staking your LPs in these pools, you will be seamlessly transported to our Dex when launched. The launch itself can happen at any time during the bootstrapping period. We will be sure to announce the launch with at least a 24 hours notice.
Phase 1 will take place over a 5 day period and distribute 43.2 DB in total; upon its conclusion the pool weights will be assessed and changes to distribution weights will be made if necessary. Phase 2 will take place over a 15 day period and distribute 1296 DB in total; it is unlikely changes will be made here but can be if necessary. Phase 3 will take place over a 10 day period and distribute 1728 DB in total. This brings the total distribution for the bootstrap event to 3067.2 DB.
In conclusion, specifically for those of you that may be new to what we have going on, we would like to bring up a few key points you may not be aware of. DB, along with its many other features including governance, has a smart-burn feature that targets a 30,000 max supply by way of a per-transaction tax: while below supply-peg 1% of every DB transaction is sent to a staking contract to reward stakers, and while above supply-peg 5% of every transaction is burned. dUSD will always be valued at $1 within DB DEX and will sell itself to any L2 exchange when and where it may be priced over $1; after dUSD sells itself back to 1$ on an outside-exchange the profit will be used to purchase rdUSD. rdUSD can be converted to dUSD, and DB can be burned in exchange for rdUSD; please note those conversions are one way and do not work in reverse. Converted tokens will be used as Single Asset Staking (SaS) rewards, LP boosts, and treasury funds.
We are just getting warmed up! We are also currently running another random-snapshot utility-NFT airdrop to DB LPs, are competing in the ETHglobal Hackathon on the 19th, are hard at work delivering an NFT Marketplace, and have a few other goodies to release in the short term.
After our exchange has fully released on Polygon Network, we will be hard at work porting and linking to other L2s, and we’ve already made some major never-before-seen advancements we can’t wait to share on that front.
This is #AggDeFi
WE DON’T STOP!!