Charge DeFi phase2

As we’re approaching the next phase of the Charge DeFi project some exciting changes are ahead of us. A new token, reward pools, multichain launches and improvements to our base tokenomics are inbound.

xStatic

The first new addition to the ecosystem is xStatic. This is a reward token that investors receive when staking either $Static or $Static-$BUSD LP tokens in our special pools. These pools lock up the funds for a period of 3 months. Besides increasing the price stability of $Static these pools offer several benefits that we will expand upon.

Basic pool mechanics
The two pools we’re launching have similar lockup times (3 months) but have a different reward structure. Another large difference is that the $Static pool is rebase free. The $Static-$BUSD pool does rebase, but to counter the impact from this the rewards from this pool have been set to 4 times that of the $Static pool.

Pool 1: Stake $Static, get xStatic
- Staked $Static is rebase free
- Get 1 xStatic per $Static
- Maximum stake of 3 million or 20% of $Static liquidity

Pool 2: Stake $Static-$BUSD LP, get xStatic
- Staked LP’s are not rebase free
- Get 4 xStatic per staked LP token!
- No maximum stake!

As stated both pools have a lockup timer of 3 months. Adding tokens resets this timer.

Reward token

A reward token wouldn’t be complete without rewards. People who deposit tokens will receive xStatic tokens immediately. These tokens can then be used for a range of benefits:

- Early access to Charge DeFi products
- Special rewards and bonus events that reward holders of xStatic
- Early access to multichain pools

We will be launching these first pools shortly!

MultiChain

The Charge DeFi team is well aware of the fact that no DeFi project will survive long-term exposure to investors without underlying use-cases. Without a use-case Charge DeFi would just be another yield farm and would follow the same route as any other yield farm or token project. So from the start, we’ve focused on building a use-case for our tokens that would increase the demand (and thus: price action) for $Static. Our initial two use-cases are powered by $Static and to increase exposure for these products we’re expanding into other chains. The main reason for this:

If users on another chain want to use our products there needs to be $Static available on those chains.

The first chain we’re expanding into is Fantom (FTM). The exact details and Tokenomics of this launch will be shared at a later date. But we’ve decided to allow long-term investors an early entry into these ecosystems. We’re doing this by allowing xStatic holders to stake their tokens into special pools that will yield FTM-specific tokens.

When we launch on FTM holders of these tokens will receive an equivalent in tokens that will allow them to stake in our FTM pools directly at launch.

Initially, this will be the only way to get a stake in the FTM side project!

Bridging

A lot of investors asked about our plans to allow bridging of Charge tokens into new chains. $Static tokens can’t be bridged as these are rebase tokens, no bridge will allow them to be bridged to another chain. But Charge could be a bridgeable token.

We will allow (limited) bridging of Charge tokens into new chains but this option will be unavailable at the start of the FTM project. We’re doing this to create a healthy ecosystem on the FTM side, by preventing a huge influx of Charge tokens into a fledgling project. After it’s initial startup phase we will unlock this feature, allowing Charge to go multichain. As stated the amount of Charge will be limited. But there will be a benefit for BSC side Charge as well: The amount of Charge on BSC will diminish as Charge is bridged into other chains. Thus increasing the rewards on BSC.

Tokenomics changes

Even though the rebase function has worked as planned we’re seeing a small group of investors pushing for rebase, usually as a way to make a personal profit. This is not the functionality we intended for the rebase; it should work as a guardrail and only be used in specific circumstances.
To counter this behavior we’re making small changes to the way the rebase works and how the ecosystem responds. These changes will be made in small increments, with the team closely monitoring the impact of the change.

The first change is the extension of the pre-rebase duration. Initially, we set the rebase to start at 6 epochs under peg and we’re expanding this to 12 epochs. This change has already been deployed to the ecosystem.

Charge DeFi Future

Even though market conditions continue to be challenging, the team at Charge DeFi is extremely excited for the future of the project. By taking the leap to bridging into other chains, the total addressable market for our Money Legos and P2P Wallet App will increase tenfold, possibly more.

What the community and investors can expect soon is that our Money Legos dev team is working hard to launch the MVP (Minimum Viable Product) at the end of Q1 2022. Even more encouraging is that the feature set they have delivered up to date, has far surpassed the initial MVP scope.

This means that it gives us the ability to start expanding base strategies and adding FTM-specific strategies to the platform. In fact, work has already begun on strategies that will use existing FTM projects and tokens.

Real and definitive use cases are coming to the forefront of Charge DeFi, sooner than you might realize. The future is brighter than ever!

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