Firebird Governance Live on Fantom

Published on: 24.08.2022

Firebird Governance Now Live on Fantom, Firebird Finance is a multi-chain DEX aggregator to offer cash-back on swaps while being equipped with industry-leading swap technology.

Starting now, $FBA holders will be able to lock their tokens for $veFBA which can be used to participate in governance AND receive 25%* of total multi-chain profits. As Firebird Governance goes Live on Fantom!

What Can You Vote For?

  • Allowing an elastic Treasury (range between 10% and 50%) — which will be used to fund the devs, the support team and build up a marketing fund (i.e. this portion of funds will be used for the overall research, development, build and maintenance of the project). The dynamic nature of this is vital in potential cases of increased development /maintenance costs.
  • Variable profit distribution (range between 10% and 50%) — distributed to all $veFBA stakers in the form of USDC taken from the entire ecosystem’s profits. During times of flat development and maintenance costs, the protocol may opt for increased profit distribution.
  • Variable protocol owned liquidity (range between 30 and 70%) — 50% of $FBA is bought from the market and 50% of collected USDC is used to add liquidity to the beets.fi pool. This will bolster the strength of the token which ultimately makes swapping using Firebird even more attractive to potential investors.

Ready to lock your $FBA?

  • Next, choose a lock duration. Remember that you will need to lock your $FBA for 10 months to receive the maximum amount (1:1 ratio) $veFBA.
  • Additionally, you can also increase your lock balance to the initial lock period.

  • Please note that if you withdraw early then you must pay a 50% penalty i.e. you will get 50% of what you locked back — the remaining 50% will be burned.

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About Firebird Finance

Firebird Finance is a multi-chain DEX aggregator to offer cash-back on swaps while being equipped with industry-leading swap technology. They combine multiple decentralized exchanges to provide seamless access to billions of dollars from the most used DeFi protocols. With their advanced routing algorithm, Firebird offers you the lowest cost and lowest slippages while providing the highest return.

Website | Twitter

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About Fantom

Fantom is a fast, scalable, and secure layer-1 EVM-compatible platform. Built on a permissionless aBFT consensus protocol Speed, low transaction costs, and high throughput. Moreover, make Fantom ideal for DeFi applications and real-world use-cases.

Website | Twitter

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SOURCE: MEDIUM

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