Aquarius Launch Details

TLDR;

  • Aquarius goes live now.
  • Before receiving the official notice — do not interact with any contract.
  • AQU rewards will be live at launch.
  • There will be 100,000,000 AQU tokens. Allocations and distribution methods can be found below.

Contracts

Address

Codes on Github

Launch Details

Deployment

Aquarius goes live now!

Functionality

Aquarius will be fully functional at launch minus redemptions. In other words: Users will have the ability to open a Trove and borrow aUSD, deposit aUSD to the Stability Pool, stake AQU, and stake Sushiswap FTM: aUSD and FTM: AQU LP tokens when Aquarius goes live.

However, for the first ~14 days after launch redemptions will be disabled. This is to encourage growth of the system during its bootstrapping phase and to protect borrowers from otherwise unnecessary redemptions while they’re getting acclimated. Redemptions will be automatically enabled by the protocol after the 14 day grace period is complete.

Initial Liquidity

Due to TransferFee’s mechanism, we need to add a sum of initial liquidity for FTM/AQU when deploying contracts. This amount of initial liquidity will be added and managed by our Supervisor- LiquityFi.

We will send 100,000.00 AQU from the multisign wallet used for marketing to them. Thanks to LiquityFi team.

aUSD Stablecoin

aUSD is the USD-pegged stablecoin used to pay out loans on the Aquarius protocol. At any time it can be redeemed against the underlying collateral at face value.

aUSD will be minted when users deposit collateral (FTM) and open troves. The mechanism for its price stability is described in Liquity’s doc.

AQU Token

AQU is the secondary token issued by the Aquarius. It captures the fee revenue that is generated by the system and incentivizes early adopters and Frontend Operators.

TransferFee’s mechanism

The token contract will charge a 5% fee for each AQU transaction.

  • 2.4% of transactions will be sent to the AQU stakers
  • 2.5% of transactions will be exchanged to LP tokens and added in the AQU-FTM Pool of SushiSwap.
  • 0.1% of transactions will be burnt

Whitelist:

  • Stake/Unstake AQU in AQU Pool
  • Withdraw AQU from Stability Pool
  • Remove FTM-AQU LP in SushiSwap
  • Transfer AQU from Multi-Sig wallets

Above operations in whitelist are exempt from the 5% transaction fee.

Token Distribution

  • 100 million (100,000,000) AQU tokens in total.
  • 0.1% of each AQU transaction will be burnt.

54% to the Aquarius Community‌

  • 32% for stability pool rewards: Issued to users who deposit aUSD to the Stability Pool. The rewards described by the following function: 32,000,000 * (1–0.5^year)
  • aUSD-FTM(0.1%): will be allocated to LPs of the aUSD:FTM Sushiswap pool. These tokens are earned by staking aUSD:FTM Sushiswap LP tokens and will be distributed by the protocol over the course of 20 days.
  • AQU-FTM (11.9%): Continuously minted for one year to liquidity providers of SushiSwap AQU-FTM trading pair.
  • aUSD-3Pool (10%): Continuously issued to liquidity providers of aUSD, e.g USDT-aUSD pair pool will be added on the Curve in the future.

25% to Team

  • Tokens will be locked up in the contract and released following a pre-set schedule. (Released in each block, halved each year)

20% airdrop to LQTY holders and Liquity Team

  • 17% airdrop to LQTY holders
  • 3% Liquity core team
  • We are seeking an official license from Liquity. Tokens will be locked in multi-sig-address. The airdrop plan will be released within the first 15 days following the Aquarius’ authorization. If the authorization does not happen in the first six months, these tokens will be destroyed.

1% marketing/bounties

  • Set aside in multi-sig-address for providing initial liquidity and other marketing/promotion needs

Stability Pool

32% for stability pool rewards will be activated immediately after the successful deployment of contracts.

LP Farming

  • FTM/aUSD -SushiSwap-LP will be activated immediately after the successful deployment of contracts.
  • FTM/AQU -SushiSwap-LP will be activated within 12 hours after the implementation of contracts, estimated at 3:00:00 UTC, May 28th, 2021.

Airdrop

The airdrop winners will be announced on our website on May 27. The rewards will be sent to the winners’ addresses before June 3.

Future

After the launch, we will focus on the creation of aUSD’s ecosystem and the building of more use scenarios. We hope more products or users can start to use aUSD, truly making it a “DAI” in the Fantom network.

Aquarius Finance Links

Website:http://aquarius.fi/

Gitbook: https://docs.aquarius.fi/

Twitter:https://twitter.com/Aquarius__Fi

Telegram: https://t.me/Aquariusfi

Discord:https://discord.gg/YeMj3H9BTM

Medium:https://medium.com/@AquariusFi

Email:contact@aquarius.fi

aquarius.fi is a decentralized borrowing protocol with interest-free loans, high capital efficiency. we expect Aquarius to be the next MakerDao in the Fantom.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

PUBLISH to launch ‘PUBLISHiD’, blockchain-based authentication application, in September

The Awaited SDS Public Sale Is Here!!!

Day3, Computer Networks — 100DaysofHacking

Zero-day flaws for Microsoft Outlook RCE are now on the market for $400,000

Fairyproof’s Analysis of Attack on Visor Finance

Hack The Box — Legacy

{UPDATE} SurrEndo Hack Free Resources Generator

{UPDATE} Hero defender 2 Hack Free Resources Generator

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Aquarius

Aquarius

aquarius.fi is a decentralized borrowing protocol with interest-free loans, high capital efficiency. we expect Aquarius to be the next MakerDao in the Fantom.

More from Medium

AMA RECAP CRYPTODIVINE WITH LIGHT YEAR

Hafen Ventures Join Partnerships 12 Legions

Credefi 2021 Summary: Where we are and where we are going

AMA RECAP : CRYPTOSCAPE x MICRO SANTA Venue : Crypto Scape Date : 26 NOV 2021 Time : 05:00 PM UTC.