Presenting Prometheus — DEXG’s 5th staking round.

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The previous four rounds ‘IGNITION’, ‘LUNA’, ’CALYPSO’, and ‘PANDORA’ had a high participation. With the fourth staking round concluded, we are now moving ahead in the staking timeline, presenting PROMETHEUS.

The fifth round ‘PROMETHEUS’ will continue the DEXG staking mechanism of the fifth round for fair distribution and decentralisation of the DEXToken Protocol. And this fifth staking round also adopts the liquidity locked staking model, utilising our DEXG/USDC shared Balancer Pool. Please refer to our previous announcement for a detailed explanation of the pool.

Continuing with our staking and supply distribution model, the PROMETHEUS staking round will distribute 2,000 DEXG as staking rewards. This takes into account the existing ATH and an active user base of around 600 wallets. Accordingly, the circulating supply will increase from currently 42,900 DEXG to 44,900 DEXG after the PROMETHEUS staking round concludes.

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The PROMETHEUS round will adopt the same staking rules recap as the following.

  • The PROMETHEUS staking round will also only accept the DEXG/USDC BPT token for deposit and staking.
  • Please only use the official DEXG/USDC Balancer Shared Pool to provide DEXG/USDC liquidity and receive the corresponding BPT token.
  • Like in the previous ‘PANDORA’ round, the amount of issued DEXG staking rewards depends on the share of the total staking pool. For example, a 1% share of the total staking pool would yield 1% (20.00 DEXG) of the total staking rewards (2,000 DEXG).

For more details, please refer to the DEXG ‘LUNA’ Staking Round article.

PROMETHEUS: Round Quickview

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PROMETHEUS: Staking Policy

The PROMETHEUS round will adopt the same staking policy in the previous PANDORA round.

  1. Provide liquidity: Balancer DEXG/USDC Pool
  2. BPT Deposits: DEXG/USDC liquidity providers can deposit BPT tokens from deposit opening to staking end, deposits will not be closed in-between.
  3. BPT Withdrawals: DEXG/USDC liquidity providers can withdraw BPT tokens anytime during the staking round.
  4. Reward Claim: DEXG reward tokens can only be claimed after the PROMETHEUS staking round ended.
  5. DEXG Reward Withdrawals: DEXG/USDC liquidity providers can only withdraw DEXG reward tokens after the PROMETHEUS staking round ended.
  6. DEXG Reward Amount: The amount of DEXG reward token received depends on the total share of the staking pool and on how long the deposited BPT tokens have been staked in the PROMETHEUS round staking period. Reward collection will stop automatically when the BPT tokens are withdrawn during the staking round.

Every staking round has a separated staking smart contract so that stakers have to withdraw BPT tokens from the ended staking round and deposit these BPT tokens to the next rounds staking dApp. However, as mentioned before, stakers can leave their BPT within the dApp in the time between the rounds to support the project’s buyback incentive.

Buyback

At the end of the PANDORA round, we will improve the original buyback plan. The improved buyback plan uses a better approach than direct buybacks. The team will use ~50% BALs for buybacks and add the remaining ~50% BALs together with the DEXGs to the DEXG/BAL (50/50) liquidity pool which can be referred at the following link.

The methodology is that the DEXG/BAL pool will mine BALs as well, and we will add those BALs back to the DEXG/BAL pool. Thus, for the long term, it will develop a buyback cycle.

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.

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

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