Fairy Finance Genesis Pools & LP Farms Launch

New algorithmic stablecoin pegged to 1 WCRO on Cronos.

DETAILS

• Schedule
  • Genesis pools: 6:00 am UTC
  • LP Farms: 10:00 am UTC

• Genesis Pools (“Fairyland”)
  • Duration: 24 hours
  • 12,000 $UNICORN rewards distributed across the following pools:
    • 5,000 — $UNICORN / WCRO LP pool
    • 2,500 — USDC pool
    • 2,000 — WCRO pool
    • 1,000 — USDT pool
    • 500 — MMF pool
    • 1,000 — MINE pool (MINE is the shares token from Dark Crystal Finance)
  • 1% deposit fee on non-native pools
  • No withdrawal fee
  • Operator can drain pools 90 days after genesis ends

• LP Farms (“Fairyland”)
  • Duration: 365 days
  • End Time: August 14, 2023 10:00 AM UTC
  • Stake LP tokens in the LP farms to earn $WINGS rewards
  • 30,000 $WINGS rewards distributed across the following pools:
    • 50% — $UNICORN / WCRO LP pool
    • 50% — $WINGS / WCRO LP pool
  • No deposit or withdrawal fees on LP pools
  • Operator can drain the pools 90 days after farms ends

• 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

• ❌ Ownership of $UNICORN has been renounced, but ownership of WINGS is not renounced (at the time this post is published)
• 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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