AuDeFi Announces Official Launch Date of Its FatStack Token
Crypto industry’s first “Hedge Coin” to go live on the Polygon Mainnet.
Singapore — AuDeFi, a player in the Decentralized Finance space (DeFi), has announced the launch date of its FatStack token. FatStack, which the company bills as the industry’s first “Hedge Coin,” is designed to provide crypto investors a safe haven against the inherent volatility of the crypto space. FatStack, which is built on Ethereum’s ERC-20 standard, is set go live on January 29, 2022 at 7PM Eastern Standard Time (EST).
“The crypto-currency market has been highly volatile since its inception,” said Patrick Poirier, AuDeFi’s founder and CEO. This volatility, according to Poirier, is often catalyzed by large entities running “pump-and-dump” schemes to make quick profits. “Often, smaller enterprises and individual investors lose money in these orchestrated market events,” continued Poirier. “And it’s for these smaller investors that we designed the FatStack token, which provides a powerful hedge against market volatility.” Poirier believes that a technological solution to this market volatility could catalyze the infusion of trillions of US dollars into the crypto space, which additional funds would further stabilize the market, making it a mainstream investing option for hundreds of millions of global participants.
“FatStack has a sort of ratcheting mechanism programmed into it,” added Mike Sites, the company’s Chief Operations Officer. “This mechanism allows the token to appreciate in value during market surges but makes the token highly resistant to market selloffs.”
According to Sites, there are three main components that make the FatStack token a highly effective hedge:
- In market slumps, FatStack’s algorithm adds additional tokens to holder wallets, enabling the company to insure a minimum, annual APY.
- FatStack penalizes stakeholders who try to dump their holdings too quickly. (Participants can sell up to 10% of their balance in any given month. But for anything above 10%, they must pay a 50% penalty.)
- FatStack’s algorithm constantly monitors for price inflation. If FatStack’s value starts to slide, the algorithm burns penalty tokens and other types of unused tokens, reducing supply and pushing value back up.
The company chose to launch on Polygon because of the platform’s brand recognition among crypto investors and low transaction pricing.
Buying FatStack (FATS)
Investors who want an early stake in FatStack can buy pre-launch tokens by contacting the company directly. (Contact FatStack.)
Once FatStack goes live, investors can buy FatStack tokens from FatStack.Life. (Click the BUY button in the upper right-hand corner. You will be routed to the FatStack dashboard, where you can connect your MetaMask wallet.) Or you can buy/sell FatStack directly on MetaMask. Note that you must first buy Tether (USDT) on the Matic network. Crypto.com and Gate.io are examples of centralized exchanges that enable investors to connect their bank accounts and buy USDT. Note that USDT must be transferred to MetaMask using the Matic network, not the ERC20 network.
Selling FatStack
If you want to sell some of your FatStack, you must perform the steps listed above in reverse, essentially logging into the FatStack dashboard and selling an amount of FatStack below or equal the 10% allowed for the month. (Again, if you sell more than the 10% limit, you will automatically be penalized.) You first swap FATS for USDT, and then send USDT from your MetaMask wallet to your centralized exchange (Crypto.com or gate.io for example). Once the USDT arrives in your exchange account, you can then convert those USDT to the base currency of your country, and follow the steps listed on the exchange to send them to your bank account.
Airdrop for Pre-Launch Token Holders
In the week of January 24th, 2022, all holders of pre-launch tokens (CRPTP and CRPTO) will be air-dropped FATS tokens, which will replace pre-launch tokens. (It happens automatically, so you don’t have to do anything. On January 24th, liquidity from Uniswap will also be removed. Any Uniswap transactions, then, must be completed before the 24th.
Important Consideration Regarding Penalty and Anti-Dumping Mechanisms
FatStack holders incur a 50% penalty on all FatStack holdings above the 10% limit sold/swapped during any given month. The FatStack dashboard tells participants how many tokens they can sell at any given time without penalty, so it is essential to consult this dashboard before selling FatStack.
FatStack has made a special offer to early adopters, guaranteeing that they will receive a minimum of 100% APY for their first year. Such early adopters have until February 28th, 2022 to consolidate their position before the clock is started on this promotion. After February 28th, this promotion will no longer be available. Note that this promotion does not double the number of tokens you own. Rather, you’ll be air-dropped additional tokens beginning on March 1st, 2022 to keep your account balance on pace for the promotion. Should the organic price of FatStack appreciate fast enough, month over month, to hit the 100% growth threshold, you will not be air-dropped additional tokens.
Additional Support
For any additional questions or support, participants have access to the FatStack discord server, where they can chat with the FatStack team.
