DEUS future vision:
Independent Pathways for Innovation
Moving forward, retaining the value, and allowing stakeholders a free choice.
Under the umbrella of the DEUS community, there has been a long-standing debate, between derivative believers and stable-coin/farming proponents, over which developments were more promising and whether it made sense to have them under one entity.
Our plan in a nutshell
There are two major value paths:
- V3 Trading Engine / Perpetuals: Our core team has been focused on the development of the v3 trading engine, now successfully in end-stage testing, which is a significant innovation in decentralized finance technology and already has DEX partnerships lined up.
- Boosted Stablecoin / Farming: Another smaller team has been focussed on the $DEI stable token and significant value has been created through the acquisition of veNFTs of major DEX partners across different chains, as well as the successful development and live implementation of our LiquidityAMO, which drives continuous value to the token holders.
These core ideas and concepts are now split into two independent projects, allowing stakeholders to decide how they want to migrate.
- SYMMIO DAO: The DEUS v3 engine will be transferred to SYMMIO DAO, which will partner with DEXs and other partners who will offer perpetuals/leveraged trading.
- DEUS: The stable token development will continue with $DEUS as the governance token and the stablecoin (still to be named), an advanced FRAX model, markedly improving on the original FRAX economic model and further boosted by the revenue of the veNFTs and AMOs.
One can decide to fully back the perps, the stable token, or go into both projects at a desired ratio.
There is also an “easy” migration option that allows users to migrate at a balanced ratio into both projects, keeping innovation and risk/reward exposure as close to the status quo as possible.
This migration strengthens innovation focus as well as minimizes risks and maximizes respective business opportunities. Furthermore, the new entities and deployment processes will be more decentralized.
Anyone wrongfully affected by any past DEI incident will also be able to choose their preferred compensation path by migrating to $SYMM or to $DEUS.
A detailed look at the Future
$DEUS/$DEI will evolve into a self-contained, advanced FRAX-inspired algorithmic-stable project.
DEUS as a stand-alone stablecoin project, freed from the v3 influence, will be able to unleash the financial and tokenomics fly-wheel utilizing veNFTs and AMOs that have been in development for a long time.
- The veNFT-Treasury stays with DEUS, maximizing revenues from partnerships
- Utilizing AMOs, with partnership-enhanced APRs, such as the already developed LiquidityAMO.
- AMO-generated revenue flows into xDEUS, while increases in the stablecoin supply through minting burns $DEUS.
- Liquidity farming partnerships will be continued and expanded in the future with a project-dedicated business development unit.
- The project will be controlled by the DAO governance of DEUS holders.
SYMMIO / $SYMM
The SYMMIO DAO will be the derivatives-tech project.
- SYMMIO DAO and its stakeholders will control all v3 contracts and intellectual property — governed by the $SYMM token, ensuring decentralized governance in the hands of the community.
- $SYMM holders collect 100% of the fees across all frontends.
- The SYMM token will be fully decentralized and immutable, and evolve to pure on-chain governance.
SYMMIO revenues are maximized without dependency on any specific stablecoin or attached to any past or future aspects of the DEUS/DEI project.
Details for a fair Migration
The migration ensures that the total supply for the combined projects stays undiluted.
- Protocol holdings will be mirrored and used for liquidity incentives, dev/team expenses, marketing, as well as hedger & partner incentives.
- Every $DEUS migrated to $SYMM is burned from the total $DEUS supply and $DEUS token holders can migrate to SYMM IO ($SYMM) without any additional dilution.
- The only route to obtaining $SYMM is to migrate $DEUS, xDEUS, legacyDEI, or bDEI.
- Note: Only legacyDEI and bDEI obtained prior to the 7th of June, included in the snapshot, can be used to migrate at market rate.
Conclusion & Thanks
We want to thank our community, frens, and partners for all the crucial input and frank discussions. Thank you for all the overwhelming support but also the headwind, as we master challenges and push forward with our tech vision.
The outlined plans will further align the projects’ vision with the future decentralized economy we’re all building together with our teams, community, and partners. They will focus on the innovation potential, align teams and mission, further decentralize governance, and create two separate, strong, accountable, resilient entities — governed by the stakeholders.