Jul 16, 2022
Arbitrum+Ripae
Hello Arbitrum, my name is Ripae, nice to meet you!
I’m a next-generation, cross-chain algo-project which is already established on Fantom, Avalanche, BSC, Polygon, and Cronos. As a fully established multichain protocol, my $PAE token is transferable to any deployed chain through my partner Multichain (Anyswap). You can buy and trade my tokens on well-established DEXes such as Spooky, TraderJoe, Biswap, QuickSwap, and MM. Most of our internal and external farms and pools are available on Beefy as vaults for easy autocompounding.
Ripae will launch on Arbitrum, an L2 solution for Ethereum where $ETH is the GAS token. The Genesis will start on the 18th of July at 12:00 and last for 72 hours. There you will be able to stake a variety of tokens in order to be one of the first to earn our newly launched $pETH token. Only 29.808 $pETH will be pre-minted for the Genesis distribution so they are in short supply!
The Genesis will include the following tokens:
- $PAE
- $ETH
- $USDC
- $GMX
- $mooBIFI
There will be no deposit or withdrawal fee, no lockups or vesting, you earn your $pETH from the first second until the last block. The multiplier will be heavily weighted towards $PAE, and we have already established the cross-chain possibility through Multichain! (Just chose Arbitrum in the drop-down list).
-Why would I want some free $pETH you might ask?
-Good question!
By farming the initial fixed supply of $pETH, you will be one of the first to be able to LP those $pETH with $ETH and earn our Arbitrum specific Bank token, $sETH! Those nice and juicy $sETH can then be used to either earn more $sETH or placed in our Arbitrum Bank in order to earn $pETH!
The Dual Bank System
Ripae is a unique protocol, an innovative beast that expands on previous iterations. First introduced on Ripae Cronos, we will be bringing the Dual Bank system with us to Arbitrum!
This means that when the Bank starts on Monday the 25th at 12:00, you will be able to either stake your fresh $sETH and/or cross-chain $PAE in order to earn you some newly minted $pETH!
Is anything new for the Arbitrum release Mr.Ripae?
I’m glad you asked! Yes, there is!
At the same time as Genesis start, we will be starting a Dutch Auction for a very limited number of $pETH tokens! 😮
Sorry, I don’t speak dutch, can I still partake in the auction?
Absolutely cowboy! The Dutch auction works like this…
On the 18th of July at 12:00 (the same time as the start of Genesis), we will be opening the doors to the auction site on Ripae Arbitrum.
There will be a TOTAL of 10 $pETH to buy with a starting price of 4 $ETH each, it’s first come, first serve. Each second, the price will decrease by 0.000011575 $ETH lowering the price of each $pETH by 1 $ETH per 24h until they are all bought or Genesis ends. There is no cap on the amount of $pETH one wallet can buy, and no lockup or fees of the trade. You will get access to your $pETH as soon as the buy goes through. Keep in mind that you can buy fractions of $pETH.
By buying $pETH, you have a guaranteed initial allocation of $pETH to use in the Tellers that will open as soon as Genesis ends on the 21st of July at 12:00. Staking through the Tellers is the only way to earn $sETH that can be staked in the Bank as soon as that opens a few days after Tellers start.
The $ETH that the protocol earns on this auction will directly benefit $PAE holders. More to come on this!
That is all folks!
Please join our Discord for all the latest news: https://discord.gg/6zq53FB4TS
And check out our website: https://ripae.finance
We are Ripae Finance, a cross-chain algorithmic peg token pegged to each native chain we are deployed on. An Algorithmic Peg Token(APT) is a non-collateralized peg token tailored for improving price stability. The beauty of algorithmic peg tokens is that they are much more capital efficient than their collateralized cousins. Ripae finance will with its experienced teamwork, work towards expanding this idea of capital-efficient algorithmic peg tokens and build on previous iterations to expand the basis of the ecosystem.
Ripae Finance’s full focus is to build a true cross-chain algorithmic peg token protocol that is innovating around the DeFi Ecosystem. Ripae is a DAO which means that the holders of $PAE are also the owners of the protocol and move the protocol forward with decentralized voting.
We started on Fantom and with the partnership of Multichain.org, our main token $PAE is now available on Fantom, Avalanche, Binance Smart Chain, Cronos, Polygon, and Abritrum.
Ripae: https://ripae.finance/
Discord: https://discord.gg/ripae
Telegram (only announcement): https://t.me/ripaefinance
