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Home All Events Fairy Finance Boardroom Launch

Date

Aug 10 2022
Expired!

TimePacific Time

3:00 am

Your Time

  • Timezone: America/New_York
  • Date: Aug 10 2022
  • Time: 6:00 am

Status

Active

Fairy Finance Boardroom Launch

New algorithmic stablecoin pegged to 1 WCRO on Cronos.

DETAILS
  • Boardroom (“MagicRoom”)
    • Stake $WINGS in the boardroom to earn $UNICORN rewards
    • During expansion, newly minted $UNICORN rewards are distributed as follows;
      • 75% — Reward for boardroom stakers
      • 20% — DAO fund
      • 5% — Dev fund
    • Epoch time: 6 hours
    • Staked $WINGS locked for 4 epochs
    • $UNICORN rewards locked for 2 epochs
  • Tokens
    • $UNICORN is the algo-stable, pegged 1:1 to WCRO
      • Initial supply: 13,201; allocated as follows:
        • 12,000 — Genesis pool
        • 1,200 — Airdrops (unlocked and held by contract creator, at time of review)
        • 1 — Pre-mint for initial liquidity
    • $WINGS is the shares token
      • Total supply: 38,001; allocated as follows:
        • 30,000 — Farming rewards (vested linearly over 365 days)
        • 4,000 — Community fund (vested linearly over 300 days — 13.33 $WINGS/day)
        • 4,000 — Dev fund (vested linearly over 300 days — 13.33 $WINGS /day)
        • 1 — Pre-mint for initial liquidity
    • $MAGICBOND is the bond token
  • Features
    • Nodes mechanism
      • Node pools where users can lockup $UNICORN to earn higher $UNICORN rewards
      • Cost: 50 $UNICORN / node
      • Unlimited nodes per wallet
      • Up to 3% daily ROI and maximum of 500% ROI
      • Every week, the wallet with the most nodes is awarded 5 $WINGS
      • Weekly draw to win 5 $WINGS. 1 node = 1 entry
      • 10% of the node pool will be distributed to Fairy NFT (planned) holders monthly
    • Rebates mechanism
      • purchase discounted $WINGS with either WCRO, $UNICORN / WCRO LP or $WINGS / WCRO LP
      • between 5-10% discount on $WINGS
      • purchased $WINGS is vested linearly over 3 days
      • $WINGS is sent to the rebate contract twice a day at 3pm and 3am UTC
      • $WINGS sent to rebate contract will vary depending on DAO reserves
      • rebates may be turned off to sustain protocol health i.e. if WINGS price is low
  • No token ownership renounced, at time of review on August 8, 2022
  • Operator transferred to Treasury for $UNICORN [tx], $WINGS [tx], $MAGICBOND [tx], Boardroom [tx] contracts
  • Roadmap includes Fairy NFT collection launch, LP Node collaborations with other protocols, launch of casino game
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