DAMX DAO Trading Beta Launch
Launch of beta trading program for a perpetual trading platform on Fantom.
DETAILS
- Launch Details
- To join the beta trading program, you need to fill out an application here
- During beta, there will be;
- 7 assets – FTM, ETH, BTC,USDC, USDT, DAI, WFTM
- 3 trading pairs – FTM/USD, BTC/USD, ET/USD
- Users can trade and provide liquidity to earn $esDMX rewards
- 1 million esDMX rewards will be distributed as follows;
- 500,000 esDMX for liquidity providers
- 500,000 esDMX for traders
- Beta participants will also receive whitelist spots for future DMX Robot NFT sale
- Mechanics & Features
- Trade with up to 30x leverage
- All position are margined in USD
- Opening and closing fee – 0.1% of position size
- 3 token model – DMX, esDMX, DLP
- DMX is the primary token
- esDMX is the governance and escrowed version of DMX
- DLP is the liquidity token, representing the liquidity pool used for swaps and leverage trading
- Liquidity providers mint $DLP by depositing assets in the DLP liquidity pool
- $DMX can be staked to receive $esDMX
- $DMX/$esDMX stakers receive 3 rewards – $esDMX, Multiplier Points, and a share of platform fees paid in FTM
- $DLP stakers receive $esDMX rewards and a share of platform fees paid in FTM
- $esDMX can be converted to $DMX through a 1-year vesting
- Fees distribution structure;
- 60% to DLP Stakers
- 30% to DMX & esDMX Stakers
- 5% for operations
- 5% for buyback and DMX-FTM LP on SpookySwap
- DMX Robot NFTs can be staked to earn FTM rewards from Community Treasury
- Tiered referral system – Refer and receive trading fee discounts and referral rebates
- Tier 1: 5% discount for traders, 5% rebates to referrer
- Tier 2: 10% discount for traders, 10% rebates to referrer
- Tier 3: 10% discount for traders, 15% rebates to referrer paid in FTM, 5% rebates to referrer paid in esDMX
- Tokenomics
- Token symbol: DMX
- Total supply: 125,000,000
- 25% — DLP stakers (1 year vesting)
- 20% — DMX & esDMX stakers (1 year vesting)
- 16% — Lending distribution (reserved)
- 12% — DMX DAO Oracle Validator distribution (reserved)
- 10% — DAMX Robot NFT (1 year vesting)
- 8% — Dev fund (1 year vesting)
- 1% — Partnership airdrop (1 year vesting)
- 8% — Liquidity
Blockchain
