Ecosystem Expansion: Fantastic Avalanche
Dear Community,
We are thrilled to bring the synthetic tokens to Avalanche and a new utility for $AVAX holders! In this article, we are unveiling the launch details for Fantastic Avalanche.
What: $FAVAX, synthetic $AVAX token
Where: avax.fans
Minting Launch: 28 Mar 2022 7am UTC
$SNOWY Farming Launch: 28 Mar 2022 at 2pm UTC
Liquidity: Trader Joe DEX
Chain: Avalanche ⛄️
Some Strategic Thoughts First…
In a previous article, we announced our ecosystem expansion plans. It’s now time to provide some further detail on our next steps! We strongly believe that our protocol is innovative and will bring huge value to multiple L1s. The Fantastic Protocol has a first-mover advantage and edge in the very competitive and ultra fast-paced DeFi space today.
Built for L1 token fans: Fantastic Protocol
Tokens like FTM and AVAX (and other L1s) are native tokens of their respective ecosystems and therefore the most liquid assets as well. Our vision is to establish Fantastic Protocol as the cross-chain go-to “Synthetic Assets Protocol”. We believe that pursuing this vision will create a large community and strong brand, known across all major L1 ecosystems. We aim to become one of the top cross-chain protocols across all of DeFi.
After the expansion phase is complete, we envisage linking up and consolidating token utilities from all ecosystems. By then, the protocol should be driven by the upcoming Fantastic DAO, run multi-chain and with new products. Now, let’s get back to the main topic:
Next Step: Avalanche
We are taking all of the finest ingredients from Fantasm, the Fantastic protocol’s brand on Fantom Network, to build Fantastic Avalanche and introducing the following tokens:
- SNOWY (the protocol native token)
- FAVAX (the AVAX-pegged synthetic token)
SNOWY Allocation
Liquidity Mining: 70% (3 years)
DAO: 20% (3 years vesting)
Treasury: 10% (3 years vesting)
Team: 0%
We have slashed our team allocation for Avalanche to zero.
SNOWY Emission
SNOWY will have a decaying emission model and the total supply is 30 million. This means that, as time passes, emission keeps decreasing according to a fixed schedule.
The decay is strong during the first 2 months. After 2 months, daily SNOWY emission already decreases to less than half of starting daily emission (value 49.6% in the table above). Then, from month 3 onwards, the decay amounts to 5% per month.
During the first 3 months, nearly 17% of the total SNOWY supply will be in circulation, and 51% after the first year!
Early adopters of the Fantastic Protocol will receive airdrops from the Avalanche expansion, meaning FSM (part of compensation) and FXM holders on Fantom. Likewise, for any subsequent ecosystem expansion(s), we will again airdrop to our previous holders. For a detailed overview of SNOWY tokenomics and emission schedule, please visit our documentation.
Have you already joined our community to learn more about the Fantastic Protocol? ⛄️
Website: https://fantasm.finance/
Docs: https://fantasm-finance.gitbook.io/
Twitter: https://twitter.com/fantasm_finance
Discord: discord.gg/fantasm
Telegram: http://t.me/fantasmfinance
Telegram ann: https://t.me/fantasmfiann
Medium: https://medium.com/@fantasmfinance
