Do you understand the future uses of DY?
I felt that not many people understand it, so I will explain about DY this time.
We are launching Dolaremon on the Fantom network on June 25th.
We will not be issuing any new DYs at that OPEN.
We will use the DYs issued on the BSC to prepare an initial pool.
The amount of the initial pool is
2500DY/FUSDT
2500DY/FTM
Role of DY
DY is the strongest item in the multi-chain protocol Dollaemon.
Here is a brief explanation of why.
The reasons why DY is the strongest
1.DY is the only token that can be moved between multi-chains.
2.When new Dollaemons such as Fantom, MATIC, Avalanche, polkadot, etc. are launched, no more than the existing DY will be issued initially.
3.When a new Dollaremon is launched on a new network, it should be able to join a high APR farm or pool as soon as possible.
4.There is a chance that the price of DY will skyrocket due to the scarcity of initial supply at the time of multi-network launch.
5.Opportunities for arbitrage due to price differences between networks.
How can DY be moved between network?
We are currently developing a multi-chain protocol that allows DY to be moved between multiple chains.
The way it works is that when you move DY from the BSC network to the Fantom network, the DY on the BSC is provided to the multi-chain protocol for liquidity. When moving DY from the Fantom network to the BSC, the DY on the BSC is provided to the multi-chain protocol in the same way.
These are not only liquid for the user, but from the beginning, 5% of the DY mined for the entire block will be automatically deposited into their pool as a reserve.
The DY in the multi-chain protocol cannot be bought or sold, and will be removed from the market.
Won’t the popularity of each network deplete the reserves?
We have been studying the popularity of MATIC net work .
We know that the protocols that are currently multi-chaining are not able to move between networks due to the uneven liquidity of each token.
We are using our initial DY issuance as a POOL to mine DY.
This will allow us to mine DY on new networks in the same way and move it seamlessly between networks.
Can’t 4DP be moved?
4DP is the only share token on the network.
It can be newly mined on BSC and other networks to achieve a higher APR and increase the price of DY.
If you want to move networks, you will have to exchange 4DP to DY. But don’t be discouraged. If more people want to move between networks, the MyShare ratio of the BSC network will increase and you can increase your rewards.
Also, the higher price of DY at the launch of a new network will cause the APR of BSC’s farm and pool to soar, which will again encourage many new entrants.
The many movers will benefit from the rewards in money pockets.
Have you understood our DY?
I hope you can tell that collecting DY and 4DP for Dollaremon is HOTTER than joining a new DeFi.
We are taking the idea of seamlessly connecting each network through a multi-chain protocol faster than any other project.
That’s a story for the very near future.
And it will be made possible by our DY.
After listening to this story, do you still want to give up DY?
If you have any questions, please feel free to ask via telegram.
