Proposing the next DEFT update

In order to prepare the launchpad system for pairing newly launched tokens with the DEFT token (as a base currency) the following changes are proposed

In order to prepare the launchpad system for pairing newly launched tokens with the DEFT token (as a base currency) the following changes are proposed.

๐Ÿ”‚ Proposing the following changes:

  1. liquidity has to be redistributed (to all chains) in the following proportions
  2. BSC: 50%, ETH: 10%, Polygon: 40%
    • (โ—๏ธ let me know if you have better ideas for proportions)
      Why these numbers? Because we need to make BSC, Polygon our main chains.
      Ethereum gas fees are killing everyone, thats why ETH is the least interesting chain right now.
  3. DEFT token must be paired with USDC (on ETH/Polygon chain) or BUSD (on BSC chain)

๐Ÿ™‹โ€โ™‚๏ธ How it will be done?

  1. ETH pair DEFT/ETH on uniswap will be ‘rugpulled’
  2. The new contract responsible for this operation will do the following:
    • mint 1,000,000,000,000 DEFT (one trillion)
    • sell them on uniswap, extracting 99.999% of ETH liquidity
    • burn DEFT on eth pair to return it to original price
  3. The resulting 10% ETH will be converted to USDC on ethrereum chain.
    And DEFT/ETH pair will be created on Uniswap V3
  4. 50% will be sent to binance and converted to BUSD
    And BUSD will be used to create DEFT/BUSD on pancakeswap
  5. Remaining 40% of ETH will be bridged to Polygon network, swapped for USDC.
    And DEFT/USDC pair on quickswap will be created
  6. new listing price will be the same in dollar equivalent as it was originally
  7. Liquidity will not be locked

๐Ÿค” What benefits do we get from this operation?

  • we will be resistant to market moves having main liquidity in USDC
  • we will have liquidity on all important chains: BSC, ETH, Polygon
  • we can safely launch DEFT paired tokens on BSC and Polygon
  • not locking the liquidity will allow us to redistribute the liquidity to other new interesting chains launched

โฐ When is it going to happen?

  • I am expecting to do this update in the beginning of the october (1-15 October)
  • hopefully ETH price will increase by then

๐Ÿงช Launchpad progress:

  • contract and frontend has been polished
  • you can view it at pad.defifactory.fi
  • on testnets everything works as expected
  • there are minor changes left to add and test
  • and then it will be ready to launch snipe bot protected tokens cross-chainly
DEFT-launchpad

๐Ÿฅฉ Staking progress:

  • contract is nearly finished
  • StakeStart, StakeEnd, ScrapeStake functions are already working correctly
  • staking dashboard design is being built right now (ETA: 2 weeks)
  • backend development has been started this week
  • after design is completed, we will proceed to build frontend website
  • expecting staking testnet to work at the end of october
  • and mainnet mid november

๐ŸŽฏ Marketing:

  • our partners Mitchell and Alex are holding back a few companies that want to create a secured token on our platform
  • those will be our first tokens to launch
  • and after this final DEFT update we will be finally ready to pursuit token owners who would like to work with us
  • any partnerships are holding up waiting our tech 100% ready for this

๐Ÿค” Do you need to do anything?

  • just wait the update it will happen seamlessly
  • nothing else is needed

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