Community Update #10
What a journey we had in the two months since launch! Thank you all for your support, patience and great insights! Love&Fries from the team💖🍟
Let’s dive in into what was achieved in the last 30 days and what are upcoming development plans!
📕State of FRIES
Needless to say November was another month in crypto — unpredictable and exciting!
🍟20,000 $FRIES have been minted, out of which:
✨10,000+ $FRIES are in $KHP staking
🔥1815+ $FRIES are permanently burnt
💪🍟618+ $FRIES in the Strong FRIES Reserve
📤Emission for December/2020 is 205 $FRIES/day with a further reduction as pictured on the left.
It is safe to say that the most active distribution phase is almost over.
Reaper Vault was released with no withdrawal fee and was welcomed by the community. The main advantage- no withdrawal fees, that allows users to experiment with earning strategies, compare different vaults vs KHP and find the most suitable solution to manage their funds. User’s $CAKE🥞 never decreases as Reaper uses the profits to market buy $FRIES🍟.
$KHP holders is the force that will stay (!)and enjoy healthy benefits of earning through Staked Fries, Strong Fries and +15x Pool. Easy and secure strategy for those who wish to deposit their assets and enjoy all those extra $FRIES. Fee sharing from Vaults is proven to be a useful tool.
Total Value Locked 💼
Despite the turbulence in the market, the results are positive and provide solid ground to grow further- almost 8 million in USD.
🎁Birthday Promo campaign
The Twitter campaign proved to be useful, especially during the time when liquidity has dropped on the Binance Smart Chain. We will keep it up!
Coming soon as we finish testing. New reduced fee structure as the community requested, same great auto-compounding and FRIES bonus (on selected vaults).
New fee structure:
0.05% withdrawal fee — This fee is only to prevent users from going in and out during harvests. The fee is given back into the strategy and not taken by dev team.
88% auto-compounding: which will slightly increase APY from v1 vaults.
5% performance fee: is used to fund the ongoing/further development
5% sent to KHP holders — $FRIES stakers.
2% as gas fee
Both v1 and v2 CakeLP vaults will stay open depending on preference for users.
Further (toke)economic research
We are working closely with a financial asset analyst and PhD in the blockchain economies to further implement the best strategies.
In order to provide long term working strategies we are taking a strategic approach: research on assets, financial model testing, risk minimization vs increased returns. Additionally, we are working on a strategy to prevent the economic exploits that happen on the more complex yield strategies.
✅Chinese Community: https://t.me/FryWorldFinance_CN
✅Portuguese Community: https://t.me/MundoFry
✅Indonesian Community: https://t.me/friesindonesia