Capitalization for $DAMO is now live on Avalanche!
Recap on the migration to Avalanche
DAMO is now live on Avalanche! We have opened up the $DAMO/$AVAX liquidity pool on TraderJoe.
Details of the switch:
- Launched at $0.044 per $DAMO
- Receive $DAMO on AVAX at 1:1 ratio
- Launched with $DAMO / $AVAX liquidity pair on TraderJoe ($80,000 in liquidity)
TOKEN ADDRESS: 0x32958A28D1641AF1d4bdd790550fC0D8049dbd3A
LP ADDRESS: 0x81d138E21d808ffE33abC0159023441608a63FfE
We are working with CoinGecko on getting our information updated. Do not use CoinGecko for $DAMO. Above are the new addresses for $DAMO and the liquidity pair.
Capitalization is live!
What’s new?
- 3 day vest -> 7 day vest
- 10% discount -> 5% discount
- Claim all at once at the end of vesting schedule
Why?
In order to mitigate any sell pressure in these current market conditions, we have switched over to our v2 parameters as a more sustainable means of acquiring $DAMO liquidity. This will also enhance the user experience, as users will no longer have to claim multiple times. Capitalization will do more than just acquiring $DAMO liquidity. Once DIVs are released, Capitalization will also be used to bootstrap the necessary liquidity for DIVs.
Staking
We will be launching staking on Friday ( 05/06/2022 ) in order for users to start accruing reDAMO.
What is reDAMO & why is it important?
reDAMO is a system of staking $DAMO to accrue voting power. reDAMO increases continuously from the moment $DAMO is staked, and is calculated as a function of
(i): the amount of $DAMO initially staked
(ii): time since the staking event
With this novel mechanism, DAMO unlocks an ecosystem of value. Simply, DAMO unlocks and aligns the incentives of users to participate in the composition of decentralized investment vehicles and favors early participants. In fact, it favors any participant willing to stay for the long haul, regardless of capital. Ultimately, reDAMO is what determines your allocation of rewards. Learn more about our multi-asset reward system in product docs.
TL;DR
- $DAMO has switched from Polygon to Avalanche
- TOKEN ADDRESS: 0x32958A28D1641AF1d4bdd790550fC0D8049dbd3A
- LP ADDRESS: 0x81d138E21d808ffE33abC0159023441608a63FfE
- Capitalization discount has decreased from 10% -> 5%
- Capitalization vesting period lengthed from 3 Days -> 7 Days
- Staking launches on Friday ( 05/06/2022 )
- Gauges released shortly after
About HAI DAMO
HAI DAMO is a DAO-operated Asset Management Organization building decentralized investment vehicles. Decentralized Investment Vehicles or DIVs repurpose idle LP tokens to create collateral-backed, risk optimized, yield generating assets.
Links:
App: app.haidamo.io
Twitter: twitter.com/thehaidamo
Discord: https:/discord.gg/haidamo
Website: haidamo.io
