Fantom Maker Updates & Burn
Community Updates
It’s been an exciting four months for Fantom Maker, and Today we’re looking to provide you with an update on our most exciting releases as well as a new use case for $FAME Stake-Holder and the announced huuuuuge BURN!🔥
The market turbulence has shaken investors, injecting fear and indecision, however, it allows us to work with more emphasis and focus on platform developments.
Furthermore, the recent Proposal ($UST adoption on Fantom) approved by the Terra community is a major boost proving that we are on the right track!
500,000 $UST Proposal for Adoption on FTM Opera
“Not So Degenerate Proposal: Road to Efficiency”
That’s how the proposal for UST adoption on Fantom was outlined by the Terra community,
The proposal allocates $500k for UST LP farms — the allocation is intended for 10 Launchpad projects over the course of 1 year (i.e. $50k/project).
For better alignment of interests, liquidity incentives will only be allocated to launchpad projects that allocate the highest emission to $UST pools, and integrate UST into our platforms.
Proposal — 1014
https://station.terra.money/proposal/1014
FantomMaker will also be accepting UST as purchasing currency for launchpad presenting a new use case for $UST across Fantom Opera Network.
Fantom Maker Team are extremely proud that our proposal has passed with 84.58% votes!
We are very thankful to Terra Community, that’s an amazing milestone for us, brick by brick we keep building the groundwork to support new projects in the early development stages.
Let’s make $UST the leading Stablecoin on Fantom.
Token Burn
Advancing our project forward and moving Fantom Maker to the next step is an important pillar of our mission. We are driven to do what is best for our investors, our community and our project, for the long and short term goals.
We want to make $FAME a Highly deflationary token!
We have just completed our 2nd token burn of 100,000,000 $FAME (roughly $3,980,000 equivalent). The latest burn includes — Development Reserve, Team, Advisors, and Consultants — tokens. This is an additional cut that comes on top of the current Burn & Deflationary program.
The “Burning” process of crypto tokens essentially means taking them out of circulation in order to control the price inflation.
The move to burn 1/6th of $FAME total supply comes from the premise of increasing scarcity and thus greatly reducing future token releases and sell pressure.
This process will not impact the price in the current market, but rather will lead to organic growth of the project and price, thus safeguarding users and investors.
Tokens Burn amount: 100,000,000 $FAME
Sources:
Marketing — 25M Burned
https://ftmscan.com/tx/0x280a4a1a3a21bad26b05972424d1ef796c67ae00856d911254ee2744d89b60e0
Partners — 15M Burned
https://ftmscan.com/tx/0xb4ae08571aadb9189ffac0327913fd6ab7b65bb851615e8e1281fd60f2bfce72
Team — 30M burned
https://ftmscan.com/tx/0x5468eec65fddfe238430ef2e1a9c3ddb847967a527cf9278a9c41a9e8bc34ff6
Ecosystem — 30M burned
LP Staking
We are almost ready to launch $FAME Liquidity Farming that we are increasing and facilitating liquidity for trading on Spookyswap.
$FAME tokens will be distributed as rewards to liquidity providers who will add liquidity to the FAME/USDC Pool on SpookySwap, and then stake those LP tokens on our farm.
The devs team is working on smart contracts, for now, we can say that the rewarding process distributes $FAME tokens through a dynamic approach, we believe this will provide an appealing APY.
By staking FAME–USDC LP tokens, liquidity providers earn yield by receiving $FAME tokens as rewards.
LP — Allocation
That’s not all! FAME-USDC Liquidity providers can also participate in IDOs and get BOOSTED allocation as more exposed to token volatility, allocation will be calculated based on a share in the LP pool.
APR/APY: Dynamic
Deposit or Withdrawal Fees:1 % Deposit Fees
Minimum time to stake: No
Lock-up period: 21 Days When registered for News IDO
Attention please! — LP Farming involves risks such as Impermanent Loss — make sure to be aware of those risks before staking. You can measure/calculate potential Impermanent Loss here:
Token Utility
As we believe in the Power of the community, we’ve agreed to provide additional benefits for users who staked $FAME on Fantom Maker.
In addition to joining IDOs and earning staking rewards, there will be a special bonus for $FAME StakeHolders.
We still have to figure out the final details, we’re working on something new and exclusive. These benefits will be reserved for stakeholders, whether they are staking/LPstaking a minimum amount of $FAME.
More details will be released soon… Stay Tuned!
Fantom Maker is designed to be the strongest yield product on Fantom blockchain. Fantom Maker ties traditional yield farming with launchpad opportunities, creating a single platform to both farm and participate in the best Fantom launches. The launchpad is a tierless system. Every holder will get a part of the allocation of the projects. This ensures a flattened but assured yield for all.
