Ripae Launchpad and Genesis Fees for Optimism
Ripae learns, Ripae grows, Ripae expands.
We have now launched on 6 chains and have listened to community feedback, DAO votes, and general community talk. Everything mashed up into a giant brain egg that just got hatched into a beautiful butterfly, spreading its wings, ready to take on the world!
Optimism launch is getting closer with Genesis starting on the 8th of August, and this article will explain the launch process in text. For meme version, please ask in Discord.
To not confuse our Optimism $pETH token for Arbitrum $pETH token, our Optimism token will be called $pETHo, with “o” for Optimism.
$pETH = Arbitrum
$pETHo = Optimism
As usual, we rely on our Genesis Tellers to give back to the holders of $PAE by giving out a portion of the initial supply of the tokens to them. We also add other related tokens that can be staked in order to get holders of those tokens interested in Ripae. This process called Genesis will continue to work in such a way but with a slight twist.
We generally see that providing Genesis Tellers to outside protocol tokens is a healthy way to get more people interested in Ripae, however, not every one of those users will be converted to a Ripae user. With this in mind, and from feedback and our recent DAO vote, we will be adding a small deposit fee on Genesis pools which handles tokens not related to Ripae. These deposit fees will 100% be used to help the peg tokens in our ecosystem.
As we launched on Arbitrum, we held a Launchpad where the $ETH gathered went straight back to $PAE holders. We saw this as a positive process and will expand on this for the launch of Optimism.
For the Optimism launch, we will be once again holding a Launchpad but with slightly altered specifications.
So this time around, we will be holding not 1, but 5, yes, 5.
1, 2, 3, 4, 5 <- yes 5 Launchpads with our unique “cross-chain dutch super awesome mega innovative auction”.
How this works is that we will be holding separate Launchpad Auctions on Optimism, Fantom, Avax, BSC, and Polygon. Each chain gets allocated a portion of $pETHo. Each Launchpad works like its own Dutch Auction where we start with a rate that goes down every block until someone acquires the $pETHo on that chain. We then record the wallet address that acquired the $pETHo on one chain, and how many were acquired, and then airdrop that amount of $pETHo to that same address on Optimism slightly before Tellers start.
The beauty of this system is that on Fantom, AVAX, BSC, and Polygon, you will be trading your $pFTM, $pAVAX, $pBNB, and $pMATIC respectively for those sweet new $pETHo. ALL peg tokens used to acquire $pETHo will be burned.
For the Launchpad on Optimism, we will be using $ETH in the Dutch Auction that will be used to benefit Ripae users (more on how at a later time).
That is the question, isn’t it?
Join our Discord to discuss this article: https://discord.gg/6zq53FB4TS
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.