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Reverse ProtocolReverse Protocolby0x5f8F4F5607462A5F84647302093E784f00154b3E0x5f8F…4b3E

Reverse FIRA Tokens

Voting ended about 4 years agoSucceeded

Proposal is to utilize FIRA tokens, that are gained as rewards from Tranq Locked Pool.

At the moment Reverse is getting like 10 FIRA per day from locked Tranq pool and these tokens are not used at all. Price of token is really high at the moment because of limited supply. Token will be used as utility token in Defira universe and governance token as well.

So, the idea of this proposal is to make the decision how FIRA tokens should be used.

Option 1: Sell FIRA tokens and feed up our Stable fund. Price of token at the moment $26.

Option 2: Stake FIRA tokens in Temple "Flexible Staking pool" with 883% APR at the moment and get sFIRA rewards in return. 50% of sFIRA rewards could be staked with 533% APR and 50% of sFIRA could be send to UNSEAL pool (unlocking of FIRA that require 364 days)

Option 3: Sell 50% of FIRA to TRANQ and add liquidity to FIRA-TRANQ LP. Farm recieved LP tokens with 2000% APR and get TRANQ, FIRA and sFIRA rewards in return. 50% of sFIRA rewards could be staked with 533% APR and 50% of sFIRA could be send to UNSEAL pool (unlocking of FIRA that require 364 days)

Option 4: Sell 50% of FIRA to invest in other assets, the remaining 50% - add to liquidity to FIRA-TRANQ LP as per option 3

Off-Chain Vote

Sell Fira
193.36K 11.3%
Stake Fira in Flexible Staking
0 0%
Farm FIRA/TRANQ LP
64.53K 3.8%
Sell 50% - then farm 50%
1.45M 84.9%
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Timeline

Mar 01, 2022Proposal created
Mar 01, 2022Proposal vote started
Mar 04, 2022Proposal vote ended
Oct 26, 2023Proposal updated