SingularityDAO DynaSets: Announce dynL1BNB Coming to BNB Chain
Greetings DinoForce,
DynaSets: The Journey So Far
In December of 2021, the very first Beta DynaSets launched on Ethereum. After successfully outperforming the market in first Closed then Open Beta, DynaSets were ready for release.
Upgraded Smart Contracts were created to allow users full control of their holdings through the use of LP tokens, making DynaSets truly non-custodial. Following this, in November of 2022 the first fully decentralised DynaSets, dynETH and dynBTC were released to the public.
With the successful launch of DynaSets on Ethereum the time has arrived to officially announce SingularityDAO’s first BNB Chain DynaSet, made up of some of the top Layer 1 Protocol Tokens — dynL1BNB
Introducing dynL1BNB
Some months ago two governance events were held to decide not only the category of DynaSet to launch but also the contents of that DynaSet. Please be aware that there are a few very important changes to previous DynaSet contributions. Of note, is the substantial decrease in minimum contribution size, from $500 USD Equivalent to only $10, and a slightly shorter contribution period of one week instead of two.
DynaSet Details
- DynaSet Name: dynL1BNB
- Chain: BNB Chain
- Category: Layer 1 Tokens
- Strategy: Long-Only
- Beta: Yes — Access from within DynaLab and sign off on risk assessment before the contribution
- Term: 3 Months
- Contribution Period: Jan 9th to Jan 16th, 2023
- Assets Traded: BUSD, ADA, WBNB, XRP, MATIC, ETH, WSOL, AVAX, DOT, BTCB
- Management Fees: 2%
- Performance Fees: 20%
- Benchmark: Performance greater than 0
- Contribution Tokens: BUSD, WBNB, BNB
- Total Contribution: $4,999,999
- Minimum Contribution: $10 equivalent
- Contribution Window: 1 week
- LP Withdraw: Enabled
- Early Redeem: Disabled
Mark Your Calendars: January 9th > January 16th, 2023
The time is fast approaching for the launch of the first BNB Chain DynaSet, ‘dynL1BNB’ contribution period. With only a one-week contribution period and a minimum contribution amount of $10 USD or Equivalent, be sure to mark your calendar so as not to miss out.
DynaSet Past Performance
While the first DynaSet to launch on BNB Chain, dynL1BNB is not the first DynaSet in existence, dynBTC and dynETH, which as the name suggests trade Bitcoin and Ethereum have been live on the ETH Network for the better part of a year and have massively outperformed their respective underlying assets.
For a deeper dive into past results, please look at this article or refer to the SingularityDAO dApp to see them live.
What’s Next?: Protocol V2
Next up for SingularityDAO is what has been dubbed ‘Protocol V2’ which has been in production for the past six months. Protocol V2 takes everything that was learned over the past year and a half, some inspiration from other amazing DeFi protocols within the space, a whole lot of imagination and delivers something entirely cutting-edge and new that will uplift almost every single aspect of the SingularityDAO Protocol.
Not wanting to share too much, too soon, suffice it to say that Pv2 will bring DynaSets to the next level and beyond. Some of the new features will be (but are not limited to):
- DynaSets that are open 365 days a year
- A massively improved fee and incentive structure that all will appreciate
- A full rework of staking mechanisms to become more fully intertwined and synergistic with other parts of the protocol
- Lots more
Stay tuned so as not to miss out on this DynaSet as well as more news about Protocol V2, both launching in early 2023.
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