Cronos, Here we Come!
Here we are, yet again, to a new, exciting and lovely expansion of the Ripae Ecosystem. Today we focus on the launch on Cronos, the EVM chain created by Crypto.com.
For those new to Ripae, we are an algorithmic peg token protocol that is unique in its way of functioning cross-chain. We have partnered with the biggest cross-chain protocol in the industry, Multichain to bring our share token, $PAE across all chains we deploy on. That makes $PAE an integral part of the Ripae Ecosystem, and with a limited supply, scarcity is created to help the protocol expand at a heavy rate. We are audited, and we have renounced our contracts on each chain we have expanded to in order to be as transparent as possible about our security.
Now when we have gotten that out of the way, let’s get on to something exciting, the launch of Ripae on Cronos Chain!
The first step is Genesis, the fair launch system that makes it possible for anyone to enter, and get a part of the initial $pCRO supply. No $pCRO is pre-minted to any specific party which means we do a 100% fair launch. The Genesis starts on the 4th of July and lasts for 72hours. Keep in mind that it’s not recommended to trade $pCRO in the Genesis phase as there is very little liquidity.
The following Genesis pools are available with the following distribution % of the initial $pCRO.
There are no deposit/withdrawal fees, and all rewards are accumulated every block with no lockups!
As can be seen in Genesis, our Cross-Chain Share token $PAE plays a significant part in Genesis. How to acquire $PAE in order to get ahold of a part of almost half of the total $pCRO initial distribution?
Easy, you can buy $PAE on either Fantom, Avalanche, Binance Smart Chain, or Polygon, and then simply bridge the $PAE over using Multichain. Takes a few minutes to do and is very straightforward.
Direct links to buy $PAE
After buying $PAE, head over to Multichain (https://app.multichain.org/#/router), our official Cross-Chain partner, and choose the chain you bought $PAE on, and then the destination chain, Cronos. Click SWAP, and there you go! Your $PAE will be available in your wallet on Cronos in no time!
If the $PAE on Cronos doesn’t show up in your wallet, you might have to manually add the token to your wallet list by adding our Cronos $PAE token: 0x99415856B37bE9E75C0153615C7954f9DDb97A6E
After the 72hour of Genesis farming, our Tellers will be activated. The Tellers are the distribution system of our Cronos-specific share token called $sCRO. So after the Genesis ends, the Tellers are activated on the 7th of July, at 12:00 UTC (noon). The recommendation is to take your $pCRO earned during the genesis, pair it with $CRO into an LP, and stake in the $pCRO-$CRO Teller to earn your share of $sCRO. This $sCRO can then be used either in a $sCRO-$CRO Teller to earn you more $sCRO, or by staking it in the Bank to earn $pCRO which can be used to increase the liquidity.
What is this “Bank” you are talking about!?
The Bank is the printing algorithm that prints new $pCRO to any stakers of $sCRO or $PAE while $TWAP is above 1.01 $CRO.
Yes, you read that right, we have introduced a whole new concept of Dual Banking where you can either stake chain-specific shares such as $sCRO, or Cross-Chain shares such as $PAE to earn the pegged token, in this case, $pCRO. The split % of each share is flexible but will reward both stakers.
Wow, you have crunched through all that text above, good for you! We hope that you are as excited about Ripae’s continuous expansion as we are!
Please read more about us in our docs: https://docs.ripae.finance/welcome/initial-release-cronos
Join the conversation, the discussions, strategy talk, and DAO proposals in our Discord: https://discord.gg/6zq53FB4TS
Also follow our Twitter for the latest news: https://twitter.com/ripaefinance
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.