DCNTRL Network Unveils Fjord Foundry Liquidity Bootstrapping Pool | Starting Aug 26
In a significant development in our launch process, DCNTRL Network is excited to announce the upcoming launch of its Liquidity Bootstrapping Pool (LBP) for the DCNX token on Fjord Foundry. Scheduled to commence on AUGUST 26 and conclude on AUGUST 29, this event represents an exciting moment for the DCNTRL community, offering participants the opportunity to acquire DCNX tokens, which are integral to the DCNTRL Network ecosystem.
When: Aug 26 17:00pm UTC
Where: https://fjordfoundry.com/
DCNTRL Network is proud to collaborate with Fjord Foundry for the LBP launch. Fjord Foundry is a proven project that has deployed LBPs on several chains, including BNB, Ethereum, and more. They’ve successfully bootstrapped over 130 communities and processed an impressive $1.4 billion in transactions.
Introducing DCNX
DCNX is more than just the native reward token of the DCNTRL Network; it is a gateway to protocol revenue. By holding and staking DCNX, participants are not merely investing but becoming part of a community that is shaping the future of stablecoins on the BNB Chain.
The Value Proposition of DCNX Tokens
DCNX tokens present a unique value proposition for holders. Every time anyone mints or redeems USDEFI, DCNX holders stand to earn protocol revenue. This revenue-sharing model ensures that DCNX holders are continually rewarded for their active participation in the DCNTRL Network ecosystem.
Understanding USDEFI
USDEFI is a BNB-backed stablecoin, minted upon the deposit of BNB. This mechanism guarantees a transparent and decentralized operation, devoid of the challenges associated with centralized stablecoins. It epitomizes a transparent borrowing experience with 0% interest rates.
Safeguarding the USDEFI PEG
1️⃣ Collateral: Each USDEFI is backed by BNB. Minting occurs with BNB deposits, protected by a minimum collateral ratio of 110% — but we recommend >150% for additional security.
2️⃣ Stability Pool: This pool is crucial for maintaining the peg. When under-collateralized loans are detected due to BNB price fluctuations, assets from the Stability Pool are utilized to liquidate these positions, ensuring system solvency.
3️⃣ Peg Maintenance: If USDEFI deviates from its peg, built-in mechanisms such as redemption and arbitrage opportunities help restore its price to parity.
How does the LBP work?
A liquidity bootstrapping pool is a fair and transparent method for token distribution and price discovery. In this case, DCNX and BNB are paired together. At the LBP’s inception, there will be an initial token weight ratio, making the cost to acquire DCNX relatively high. The DCNX price will decrease as the ratio auto-balances based on a pre-configured price decay curve, which can be resisted by buying pressure from LBP participants.
This approach ensures that the LBP provides a fair and transparent method for token distribution and price discovery. The auto-balancing ratio and pre-configured price decay curve are designed to encourage participation and create a balanced and sustainable token ecosystem. By participating in the LBP, you have the opportunity to acquire DCNX tokens at the very beginning of the protocol and play a vital role in shaping the future of stablecoins on the BNB Chain.
Learn More About Fjord Foundry’s LBPs
If you want to learn more about how LBPs work and what makes them unique, you can check out Fjord Foundry’s LBP documentation here: https://help.fjordfoundry.com/fjord-foundry-docs/for-lbp-participants/faqs-lbp-participants
Why You Should Be Excited:
The LBP presents an opportunity to acquire DCNX tokens at the very onset of the protocol. The DCNX token will play a crucial role in propelling the protocol into the future. By holding and staking DCNX, you will be eligible to earn protocol revenue every time anyone mints or redeems USDEFI. This unique revenue-sharing model ensures that you are rewarded for your participation in the DCNTRL Network ecosystem.
How can you Participate?
Over the next couple of days we will be releasing a link to our LBP! Look out for that by following our socials!
Mark Your Calendars!
Don’t forget to set reminders the LBP kicks off on AUGUST 26 and concludes on AUGUST 29.
Share A $500 GIVEAWAY For Learning About our Ecoystem!:
As part of our launch campaign we launched #UnlockingUSDEFI! Which has an ongoing giveaway with a total prize pool of $500!
This is a fantastic opportunity for our community members to learn more about the revolutionary USDEFI stablecoin and the DCNTRL Network ecosystem. By participating in the campaign, you can test your knowledge with our quizzes, claim exclusive NFTs, and enter the raffle for a chance to win a share of the $500 prize pool.
The first snapshot for the giveaway will take place on Friday, August 18th, at 12:00 UTC.
The second snapshot for the giveaway will take place on Friday, August 25th, at 12:00 UTC.
To participate, simply mint the first NFT: https://bit.ly/3KJvRlS
and enter the raffle at http://bit.ly/3QCRp7x.
Stay ahead, pioneers. The future of stablecoins on BNB Chain awaits! For the latest updates and announcements, follow DCNTRL Network on Twitter @DCNTRLnetwork and join our community on Telegram!
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