Jun 27, 2022
Back 2 Peg, the Sequel!
What we do in life echoes in eternity, and this is such a time where we all can make a difference in our interconnected future.
Ripae is a unique protocol, one that has never existed in this true form, and one that will make a difference in future protocols as we all move into a more multi-chain, cross-narrative environment, one which we are proud to be at the forefront of. As with most protocols, we have also been affected by the instability of our mother, the great $BTC, and the overall financial world. What we do know is that Ripae has been a comfortable and resilient counterpart where we have withered the storm, together, as a community, one that is strong and shows that we don’t let anyone look down on us!
Ripae is also a complex system of multiple chains, multiple banks, multiple tellers, partner farms, partner vaults, own vaults, and black sheep like Solidly 😅. This complex system can be compelling, but put a lot of trust on users to do their own research, build their own strategies, and work out the optimal way to use the ecosystem.
This article is not for them, those know their shit and we are humbled by the strategies we see. This article is for the YOLO crowd, this one, this one is for you! 👇
So what are the steps to get back to peg for Ripae?
Answer: use the built-in system for this exact thing.
So what is this built-in system you are telling me about?
Answer: Bond system and partner farms!
Ripae peg tokens are built to be as close to tokens they represent, and they do this by increasing the supply when PEG > 1.01. This is all fun and butterflies as long as PEG is sustained. When PEG goes below 1, the protocol instead starts printing bonds that are used to decrease the supply of the peg tokens, and in turn, make it easier to get back above PEG.
What are bonds?
Bonds are a kind of tokens that can’t be bought at the open market, but instead, you trade your PEG token 1:1 to get the equivalent amount of Bond tokens. The PEG tokens you trade for Bond tokens are burnt, in turn lowering the circulating supply of the PEG token, making it easier to get back to PEG. As a thank you for helping the Ripae ecosystem to thrive, you get access to a special Bond Teller in which you can stake your Bonds in order to earn a higher multiplier of $PAE tokens. But this is not all, as we get above PEG again, you can trade back your Bonds for the PEG token, and the higher above PEG you trade in your Bonds for PEG token, the bigger amount of PEG tokens you get! Amazing!
So far so good, so trade in your PEG tokens for BONDS, stake in Bond Teller, and then trade back your BONDS for PEG, earning all the way!
But to make it easier to get back to peg, we want to make it easier for the price of the PEG tokens to move back to PEG. To help with this, we should remove as much liquidity as possible to make every price move higher have a bigger impact. Currently, with everyone LP in Tellers or using our partners Beefy or YieldWolf, the price move slower as there is high liquidity in the PEG tokens LP. So to incentive this kind of move, we have launched our Single Stake Tellers, where you can comfortably break your LP, and either trade your PEG tokens for Bonds OR stake them in our single stake Tellers to earn more $PAE while also helping the protocol.
As a PEG token moves above PEG again, be fast to add back the LP to make the liquidity thick again so any price movements down are dampened by the thick and creamy liquidity.
Yet another way to help the protocol, and this one is important, is to use our partner farms to increase the price of $PAE in order to push the APR of tellers higher, in turn making them as attractive as possible.
We currently have incentivized farms on both Biswap ($PAE-$BNB) and Quickswap ($PAE-$MATIC) which give out rewards in $BSW and $QUICK. By trading those rewards into more $PAE, we slowly increase the price of $PAE which is good for everyone, as we use outside funds to push the price higher. For the $PAE-$BNB farm, Beefy actually has a vault of that to make it fast and easy for you to take part in this push, just add your $PAE-$BNB LP to Beefy, and Beefy take care of everything.
But, but, you just said “break my LP”, yes, I said that, but in this instance, the help with “auto-buying” using outside funds triumphs the LP breaking.
Why should I care about the protocol and help my peers?
EVERYONE wins on co-operation as a healthy protocol attracts more users, more users mean that we can push our developments to a broader audience which even the YOLO crowd should know is a good thing without me explicitly saying so.
TL:DR Get back to Peg
- Split LP
- Trade PEG tokens for Bonds
- Stake Bonds in BOND Tellers
- Stake $PAE LP in partner Farms/Vaults
- Co-operate and we all win!
As a team, we continue to develop Ripae, check out our latest addition, the Dashboard.
We also will continue to expand our chains in order to make Ripae as resilient as possible for any chain-specific thing that could happen. As we go through our partner, Multichain, $PAE can be easily used to transfer funds from one chain to another in minutes.
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
