What’s Next for Hexagon Finance?
A public token sale on Copper Launch
Hexagon Finance will launch a public token sale on Copper, planned a few days before the dex goes online. It will apply the LBP model for the FLAKE token launch, already well-known on Ethereum.
This will see the LPB price of FLAKE start relatively high and drop based on a pre-configured price decay curve that can be resisted by buying pressure from LBP participants.
Using this innovative protocol pioneered by Balancer means that liquidity bootstrapping is no longer a race where the first bot in or the transaction with the highest gas fee wins, as is often the case with traditional IDOs. Anyone can buy into or sell out of the LBP freely at any time, so price truly regulates itself.
Initial pools and liquidity
Immediately after launch, the initial pools will center on the UST stablecoin. There will be at least one big stablecoin pool with multiple stable assets, one AVAX/UST pool, one WBTC/ETH/UST pool, three UST pools for the Hexagon’s incubators and partners — Terra, Balancer and Defrost- and one 80/20 pool for FLAKE.
We are open to offers for building liquidity for other projects, an invitation we would like to extend to all the projects on Avalanche. If you are interested in providing incentives while getting dual rewards from FLAKE, and building the liquidity pools, please feel free to tag our administrators on Discord and Twitter.
Ve token models
veFLAKE is the staking option that rewards long-term FLAKE Stakers. veFLAKE stakers benefit from::
- Distribution of protocol fees
- Participation in the protocol governance
- Enjoying boosted rewards in the FLAKE mining pools
Furthermore, once the Hexagon voting system will be deployed, with veFLAKE on Hexagon Finance representing users’ voting power. This will provide particularly useful when it comes to deciding on incentives, a process that will be overseen by both the core team and the community.
A quick parentesis concerning the Hexagon liquidity mining incentives — they operate in 3 tiers. Tier 2 is a group of liquidity pools, whose incentives and allocations are decided by the community governance. The adjustment of the incentives for the liquidity pools in Tier 2 is adjustable on a periodical basis. veFLAKE holders will decide on the additions to the liquidity pools in the Tier 2 group.
Hexagon’s Mining Boosting Mechanism is a brand-new mechanism that allows FLAKE stakers to earn boosted mining rewards in FLAKE when providing liquidity to the designated pools. After staking FLAKE in the FLAKE single-coin staking contract, and depositing the veFLAKE (vested FLAKE) into the whitelisted mining pool, liquidity providers will be able to boost their mining APR.
A new lending platform
Phase 2 of Hexagon Finance will be deploying a lending protocol, interoperable with our phase 1 dex, also backed by TerraUSD (UST) while powered by the AAVE model.
Please stay tuned on Hexagon Finance’s official channels for more information.
