Initial Release Arbitrum
The following dates are the expected roll-out of the Ripae Finance initial ecosystem on Cronos.
- Genesis Start = 2022-07-18 12:00 UTC
- Genesis End = 2022-07-21 12:00 UTC
- Tellers Start = 2022-07-21 12:00 UTC
- Bank Start = 2022-07-25 12:00 UTC
- -> Make sure that you stake your $PAE and $sETH in the Bank BEFORE the start of the 1st Epoch at 2022-07-25 12:00 UTC in order to earn $pETH on the first expansion.
The Genisis pools will start distributing $pETH reward on the 18th of July at 12:00 UTC. These Genesis pools will be the only way to be the first to earn $pETH. Ripae is a 100% fair launch which means that no $pETH tokens are pre-minted to any individual party. The Genesis pools will last for 72 hours and distribute a total of 29.808 $pETH.
The following is the allocation of the distribution of the initial $pETH: - $PAE - $ETH - $USDC - $GMX - $mooBIFI
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 Arbitrum launch is that we are having a small separate launch of the pegToken $pETH using a system called Dutch Auction. There will be a TOTAL of 10 $pETH to bid on with a starting price of 4 $ETH each, it’s first come, first serve. Each second, the price will decrease by 0.000011575 $ETH lowering the price of each $pETH by 1 $ETH per 24h until they are all acquired or Genesis ends. There is no cap on the amount of $pETH one wallet can acquire, and no lockup or fees of the trade. You will get access to your $pETH as soon as the bid goes through. Keep in mind that you can acquire fractions of $pETH.
By acquiring $pETH, you have a guaranteed initial allocation of $pETH to use in the Tellers that will open as soon as Genesis ends on the 21st of July at 12:00. Staking through the Tellers is the only way to get ahold of $sETH that can be staked in the Bank as soon as that opens a few days after Tellers start.
The $ETH that the protocol gathers on this auction will directly benefit $PAE holders. More to come on this!
The Tellers will start distributing $sETH reward on the 21st of July at 12:00 UTC. These Tellers incentive users to provide liquidity and in turn, will be treated with the only way to earn $sETH from start. $sETH will be released over 4 years with a halving every 6 months.
The Bank will start distributing $pETH reward on the 25th of July at 12:00 UTC. You earn this $pETH by staking your $sETH and $PAE. The Bank will continue to distribute tokens every time TWAP of $pETH is above 1.01 $ETH.
The Bond Market will be open at the same time as the Bank opens however buying $bETH will only work if $pETH trades under 0.99$ ETH.
What the hell is moo tokens you may wonder? As one of the biggest Yield Optimizers in the whole crypto space (and one of the biggest DeFi projects overall), Beefy.Finance is breaking new ground every day. The creators of Ripae are in ave of Beefy and how they are constantly expanding hence we have chosen to bootstrap Ripae Finance by giving back to the Beefy community. What is moo Tokens then? They are receipts of your deposit into Beefys Yield Optimizing vaults. This means that you will deposit your tokens or LP into Beefy and earn a yield on these deposits. All while you then use the receipts you get and stake them into Ripaes Genesis pools in order to be the first users to get your share of $pAVAX, basically make you earn on your earnings. To learn more about how to acquire moo tokens, head over to our section “How to get moo Tokens?”.