Single Sided Staking with 20% APR

Greetings FHMily!

March 2022 is wildly exciting for FHM! Dare we say that feels like an understatement?

We are rebranding and launching our stablecoin $USDB and introducing yet another feature for our investors that is closely tied to our native token $FHM and $USDB.

Introducing Single Sided Staking — Earn 20% APR in $FHM

What is Single Sided Staking and How does it work?

Single Sided Staking is similar to Liquidity Pair (LP) farming while also eliminating the impermanent losses. Instead of depositing both tokens of an LP to farm and earn rewards, investors only provide $DAI tokens, i.e., one side of the pair while our protocol deposits the other token of the liquidity pair which is $USDB. This pair is then farmed to earn rewards continuously. By providing up to 20% reward in $FHM tokens to the dollar value of your $DAIs, we mitigate against impermanent losses! So no matter what the market state is and how much $FHM costs, as an investor, you will earn up to 20% rewards on your initial investment.

Let us see how it works.

After the deposit of $DAI, our smart contracts perform a number of steps highlighted below -

1. The deposited $DAI goes through our bonding contract to burn the equivalently valued $FHM tokens and mint equally valued $USDB tokens. The burning of our native token $FHM to mint our stablecoin $USDB is basically a Proof-Of-Burn mechanism that helps deflate the $FHM supply.
2. In Beets.fi, our smart contracts deposit the pair of newly added $DAI with minted $USDB into our community pool conveniently called “A DAI-Abolical Balance”.

1. Our protocol then rewards the investors participating in Single Sided Staking and depositing their $DAI with 20% APR rewards in our native token $FHM — with low risk to the initial capital.
2. Investors can claim their rewarded $FHM tokens anytime they prefer, just like with the traditional LP farms.
3. Investors can also withdraw their initial investments from the Single Sided Staking system which will essentially prompt the removal of the pair from Beets.fi and burning of the $USDB initially minted in the process (see point 1.).
4. To circumvent impermanent loss, upon the full withdrawal of their DAI, users will be able to claim back any impermanent losses incurred, paid out in FHM.

To be eligible for this rebate. users need to:

1. Incur impermanent loss. i.e USDB has devaluated since the initial investment.
2. Have been staking for at least 24 hrs
3. Withdraw the full amount or last part of the amount that was invested. To the last decimal

Single Sided Staking with a Short Example

Let us assume an investor deposits 100 $DAI into the Single Sided Staking system and the value of the $FHM token is $10.

At that instance, 100 $USDB tokens will be minted by burning equivalently valued $FHM tokens.

Since $FHM is worth $10, 10 $FHM tokens will be burned.

These 100 $DAI and 100 $USDB tokens will form a liquidity pair and become part of our community pool in Beets.fi. Our protocol will then continuously reward the investor with $FHM tokens at a rate of 20% APR.

Note that our investors can claim rewards anytime they prefer and need not wait for one full year to pass.

Our Vision is Long-Term Success

We have come a long way through various innovative solutions and products and we strive to simplify investing, maximize returns for investors, and build everlasting trust.

If you would like to learn more about us, please visit our website. We encourage you to join us on Discord and get involved with the governance community of FantOHM.