Defrost Finance Launch
Deposit LPs to mint H20, their stablecoin, then use H2O to farm MELT, the governance token.
DETAILS
- Minting H2O (via depositing LPs in the Vault) is available on November 22 at 4pm UTC, 24 hours prior to the farm start
- Once you have H2O, it can be paired with DAI, USDC or USDT at Curve and deposited in the farm to earn MELT beginning on November 23 at 4pm UTC (the time this launch is set for)
- On November 26 at 4pm UTC, MELT can be paired with AVAX on Trader Joe, then staked to farm more MELT
- MELT total supply: 100,000,000
- MELT is a governance token used to vote on changes to the protocol
- MELT is bought back and burnt when the protocol’s reserve exceeds a threshold
- MELT is created and auctioned for H2O when the protocol’s debt exceeds a certain threshold
- Staking MELT makes you eligible for dividends of 50% of the protocol income, which are accrued from the stability fee and the liquidation penalty
- 160,000 MELT per day will be farmed during the first 3 days
- 1/10 of MELT rewards are available for immediate withdrawal, the remaining rewards are released linearly every 6 days, for 54 days
- Twitter: https://twitter.com/Defrost_Finance
- Discord: https://t.me/Defrost_Finance
- Telegram: https://t.me/Defrost_Finance
- Type of Audit, Review or KYC: Certik
- Contract: https://docs.defrost.finance/mechanisms-and-functions/contract-addresses
- Audit / Review: https://www.certik.com/projects/defrostfinance