DEXG/USDC Balancer Shared Pool Announcement

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DEXToken goes Balancer. We are pleased to announce the DEXG Balancer Shared Pool. We created the official Balancer Shared Pool as a new way to distribute DEXG reward tokens, while at the same time supporting the liquidity of the project.

Providing liquidity on Uniswap often causes high impermanent losses to liquidity providers as the weight of the assets pooled for liquidity is always 50 / 50. Unlike Uniswap, the Balancer Protocol can address this issue and customise the weighting of assets in the liquidity pool.

The DEXG/USDC Shared Pool

For more information on the implications of implementing a bullish pool (pools over 80/20 composition), please refer to https://balancer.finance/2020/03/16/80-20-balancer-pools/.

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The 90/10 model on Balancer has been successfully used before by projects like Synthetix (SNX) to distribute rewards and incentivise liquidity providers. Looking at the good results Synthetix created with this model, we are certain that Balancer will offer us a better platform than Uniswap to reach our targets.

Earn BAL Tokens

We have been included in the newest whitelisting proposal of Balancer. This allows liquidity providers of the DEXG/USDC pool to earn BAL as rewards, depending on their share of the total Balancer liquidity. Whitelisting will also have the positive effect of DEXG being visible with the name and logo instead of the smart contract ID.

You can find out more about the Balancer Liquidity Mining Program here: https://defipulse.com/blog/balancer-start-liquidity-mining-and-earn-bal-tokens-today/.

Staking Model Update

The IGNITION staking model

The IGNITION staking model used an equal reward logic. This had the consequence of locking deposits and withdrawals during the staking period while allowing everyone to get the same percentage of rewards depending on their deposited amount. The IGNITION round uses this straightforward staking model to reward early DEXG holders.

The LUNA staking model

The LUNA staking model makes staking more flexible for DEXG holders, while at the same time supporting the liquidity and price stability of DEXG.

As a prerequisite to participate in the LUNA Staking Round, DEXG holders need to submit their tokens in the Shared Liquidity Pool on Balancer with a 90/10 DEXG to USDC ratio. Upon successful submission of the tokens in the Shared Pool, Liquidity Providers will get Balancer Pool Tokens (BPT), which then can be used at the staking dApp on stake.dextoken.io

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This change of staking model comes with several beneficial effects:

  1. During the staking period, liquidity of DEXG is secured, reducing price volatility.
  2. Holders can deposit their BPT at any time during the staking period.
  3. Stakers can withdraw their BPT at any time during the staking period.
  4. The staking rewards depend on how long the BPT have been staked in the dApp
  5. DEXG reward tokens can be withdrawn after the staking ends, even if the staked BPT have been withdrawn before already.

How to proceed after IGNITION

As mentioned earlier, Liquidity Providers that successfully submitted DEXG and USDC to the Balancer Shared Pool will receive Balancer Pool Tokens (BPT) in return. Those BPTs can be deposited into the DEXG staking dApp at https://stake.dextoken.io and used for staking in the LUNA Staking Round.

Step by Step Guide:

  1. Navigate to the DEXG/USDC Shared Pool:

https://pools.balancer.exchange/#/pool/0x5b18df96d3c8b9f1d1b9e38752498f92d1e2d490/

2. Connect your Wallet to Balancer

3. Click at “Add Liquidity”

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4. If you use Balancer for the first time a prompt will appear asking you to set up a Proxy contract; confirm this action in your wallet.

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5. Click on the “Multi assets” tab.

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6. Approve the interaction with the contracts in your wallet by clicking on ‘Unlock’ for DEXG and USDC.

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7. After the interaction with the contracts was successfully approved, the ‘Unlock’ buttons will vanish.

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8. Choose the amount of DEXG you’d want to submit to the liquidity pool. In this example 1 DEXG. The USDC amount will automatically adjust to meet the 90/10 ratio.

9. Make sure that everything is set up correctly and check the warning box. After that, click on ‘Add Liquidity’ and confirm the transaction in your wallet.

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10. Once the transaction is confirmed, you’ll automatically receive BPT tokens to your wallet in return. For each full DEXG/USDC ratio submitted to the liquidity pool, you’ll receive 1 BPT.

11. Add the BPT contract to your wallet as a custom token.

Contract: 0x5b18df96d3c8b9f1d1b9e38752498f92d1e2d490

Symbol: BPT

Decimals: 18

12. Go to the DEXG staking dApp: https://stake.dextoken.io.

13. Approve and deposit the BPT tokens to receive staking rewards.

Resources

© DEXG Team

DISCLAIMER:

DEXG tokens are not intended to constitute securities in any jurisdiction. The white paper does not constitute a prospectus or offer document of any sort, and is not intended to constitute an offer of securities or a solicitation for investments in securities in any jurisdiction.

The Flowchain Foundation Limited disclaims any and all responsibility and liability to any person for any loss or damage whatsoever arising directly or indirectly from (1) reliance on any information contained in this white paper, (2) any error, omission or inaccuracy in any such information, or (3) any action resulting therefrom.

The value of DEXG tokens is currently very volatile. Flowchain Foundation (“Company”) does not have any means of stabilizing the token value, please buy at your own risk. Unlike bank accounts or accounts at some other financial institutions, DEXG are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by Company, to offer recourse to you. Because DEXG are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have a material adverse effect on the platform or DEXG. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the DEXG and the platform, including the utility of the DEXG for obtaining services, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum protocol.

Dextoken is a DeFi infrastructure with a proposed Speculative AMM and is managed by the DEXG community —https://dextoken.io/

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