New Redistribution

REDISTRIBUTION:

Redeem a fixed USDC.e value per LF equal to LF risk-free value (risk-free value = treasury owned reserves divided by supply of LF owned by users, more details in the section below)

WHEN WILL THE REDISTRIBUTION HAPPEN?

Once the proposal is passed, we expect a new page will appear on the website called Redistribution.

You will be able to enter the amount of LF tokens you want to swap for a fixed amount of USDC.e per LF token equal to the LF risk-free value at the moment staking rewards and bonding is paused two days after the proposal is passed. There will be no slippage, and everyone will get the same amount of USDC.e per LF, regardless of the time the swap is executed.

HOW IS THE RISK-FREE VALUE PER LF CALCULATED ?

Risk-free value per LF is calculated by adding all treasury owned assets market value: USDC, USDT, WBTC, ETH, MIM from the LF-MIM liquidity pool.

And dividing this by all user owned LF: calculated by taking the LF total supply, minus the amount of LF owned by the DAO, as well as LF owned by the liquidity pools.

The current RFV per LF is 5.53$ (maths below). You will be eligible to claim 5.53$ per LF during the redistribution any time.

LF

Total Supply = 858,661.69 DAO LF = 36,761.34 LF from LF-MIM LP = 28,174.42 User Owned LF Supply = 793,725.93

TREASURY ASSETS

Stablecoins = $ 3,092,577.79 MIM in LF-MIM LP = $ 144,705.83 WBTC = 35.5777 WBTC = $ 559,139.13 ETH = 456.679 ETH = $ 495,807.25 0% Dev Fee = -$ 0 0% Yield fee = -$ 0 Treasury Assets Value = $ 4,292,230

RFV = Treasury Assets Value / User Owned LF Supply

LF RFV = $ 5.407697

The RFV may vary slightly due to transaction fees and the variation in the price of WBTC, ETH. During the vote the apy will be reduced to 0 to avoid dilution of the RFV