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Home All Events - Ape O'Clock DAMX DAO Trading Beta Launch

Date

May 01 2023
Expired!

TimeUTC

2:00 pm

Your Time

  • Timezone: America/New_York
  • Date: May 01 2023
  • Time: 10:00 am

Status

Active

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
Links & Resources
Related Launches

Blockchain

FTM