Initial Release Optimism
The following dates are the expected roll-out of the Ripae Finance initial ecosystem on Optimism.
- Genesis Start = 2022-08-08 12:00 UTC
- Launchpad Start = 2022-08-09 12:00 UTC
- Genesis End = 2022-08-11 12:00 UTC
- Launchpad End (or when empty, whichever comes first) = 2022-08-11 12:00 UTC
- Tellers Start = 2022-08-11 12:00 UTC
- Bank Start = 2022-08-15 12:00 UTC
- -> Make sure that you stake your $PAE and $sETHo in the Bank BEFORE the start of the 1st Epoch at 2022-08-15 12:00 UTC in order to earn $pETHo on the first expansion.
The Genisis pools will start distributing $pETHo reward on the 8th of August at 12:00 UTC. These Genesis pools together with our Launchpad will be the only way to be the first to earn $pETHo. Ripae is a 100% fair launch which means that no $pETHo tokens are pre-minted to any individual party. The Genesis pools will last for 72 hours and distribute a total of 18 $pETHo.
The following is the allocation of the distribution of the initial $pETHo:
- $PAE
- $ETH
- $USDC
- $Velo
- $BIFI
- $OP
Rewards are earned immediately per block and can be harvested without any lockups, vesting, or taxes. There are no deposit or withdrawal fees.
New for the Optimism launch is that we are having a small separate launch of the pegToken $pETHo using a system called Dutch Auction on Optimism and 4 other chains. On Optimism, the start bid of $pETHo is 7 $ETH each, it’s first come, first serve. Each second, the price will decrease by 0.002083333 $ETH lowering the price of each $pETHo by 3 $ETH per 24h until they are all acquired or Genesis ends. There is no cap on the amount of $pETHo one wallet can acquire, and no lockup or fees of the trade. You will get access to your $pETHo as soon as the bid goes through. Keep in mind that you can acquire fractions of $pETHo. The $ETH that the protocol gathers on this auction will directly benefit $PAE holders. More to come on this!
On our other available chains, Fantom, AVAX, BSC, and Polygon, you will be using our pegToken on each chain to bid on the $pETHo on that specific chain. Each of these has an auction in the same style as on Optimism beside that all pegTokens collected through this process will be burned. Acquiring $pETHo on one of these chains through the auction process means we will airdrop your acquired $pETHo to THE SAME ADDRESS on Optimism at the latest at the end of the Auction. We will only airdrop $pETHo to the wallet that bought through the action.
By acquiring $pETHo, you have a guaranteed initial allocation of $pETHo to use in the Tellers that will open as soon as Genesis ends on the 11th of August at 12:00. Staking through the Tellers is the only way to get ahold of $sETHo that can be staked in the Bank as soon as that opens a few days after Tellers start.
The Tellers will start distributing the $sETHo reward on the 11th of August at 12:00 UTC. These Tellers incentive users to provide liquidity and in turn, will be treated with the only way to earn $sETHo from start. $sETHo will be released over 4 years with a halving every 6 months.
The Bank will start distributing $pETHo reward on the 15th of August at 12:00 UTC. You earn this $pETHo by staking your $sETHo and $PAE. The Bank will continue to distribute tokens every time TWAP of $pETHo is above 1.01 $ETH.
The Bond Market will be open at the same time as the Bank opens however buying $bETHo will only work if $pETHo trades under 0.99$ ETH.
More information here: https://ripaefinance.medium.com/ripae-launchpad-and-genesis-fees-for-optimism-fa88e42fa98a
Last modified 7mo ago