FURY Token Just Got Better — The Bonding Release

Updated Message- As per the new Bonding release in December, Bonding v1 would only offer Pair Bonding at the moment. An announcement will be made when axlUSDC bonding will be available.

PHASE 1 of going on Mainnet — Bonding and Bootstrap Event is LIVE.

If you have been following us for some time now, you would agree that Fanfury came out throwing punches left and right. These past few months have been quite a ride and we are just getting started! Our community is thriving and all events so far have been a roaring success.

Starting with Testnet, we now move to launching Fanfury on the Juno Mainnet in Phases. FURYans have proved to be an energetic bunch, and yes we hear you, we know you’re waiting for gameplay to launch. Patience you must have, young padawan.

This article talks about Bonding which is now live on the Fanfury web app. While we also touch upon phase 2, phase 3, and what’s to come. But first for those of you who are just getting started with Fanfury here’s a quick crash course on what is bonding and how it works.

How Does Bonding Work?

To provide liquidity to tokens, the protocol essentially sells its tokens at a discounted price to buyers, who in exchange provide another token (e.g: USDC) which will then be used as a part of the Fanfury Protocol’s Treasury. This helps deploy the treasury onto a DEX in order to be invested in, generate returns or directly provide liquidity.

Protocols end up dilating their value by offering higher incentives to liquidity providers, Protocol-Owned Liquidity ensures stability without the need to incentivize LPs thereby avoiding dilating its price”.

The Bonding Process

In simple words, bonding is the process where the protocol sells its token in exchange for another token or a liquidity pool token from the buyer. In this case FURY for USDC.

The protocol incentivizes buyers to bond instead of buying tokens. It does this by selling the token at a discount of 5–10% compared to the current market price (usually vested over days or max a week to avoid an immediate arbitrage opportunity).

Fanfury Users are allowed to bond in two ways :

USDC participants who bond will receive 5% more FURY tokens at the end of 7 days.

Choose USDC+ FURY, you will receive an additional 7% of FURY tokens at the end of 5 days.

Note: In case you see that “FURY USDC bonding is disabled“, it’s due to the fact the daily allocation for bonding rewards has been exhausted.

Many might be curious how or why we prioritize bonding for our tokens and what does it mean for the Fanfury Protocol?

Understanding Liquidity

Decentralized finance (De-Fi) brings with it a unique opportunity to investors that have never been offered before, at least not with the level of accuracy and trust-less systems that are in place today. These are considered disruptive developments in traditional finance.

However, De-Fi has an Achilles heel that often causes issues for protocols — liquidity.

Protocols often have to incentivize liquidity providers to maintain liquidity in the protocol. But like every other truly amazing tech that’s being developed on the DeFi blockchain, DeFi protocols have found a way to navigate the issue of liquidity as well. Namely through “Protocol-Owned liquidity”. This promises not only to resolve the mercenary liquidity problem but also to create a reserve currency in the process.

Fanfury’s Protocol Owned Liquidity

Fanfury’s Protocol-owned liquidity approach allows the platform to provide liquidity to its tokens on a decentralized exchange.

In simple terms, instead of providing heavy incentives to the market to maintain liquidity (which oftentimes isn’t reliable), our liquidity model utilizes “bonding”.

With Gameplay in sight, to avoid any kind of whale/bot-related price manipulation, we are currently holding a Liquidity Bootstrap event that will run until the 9th of October,2022.

At the Bootstrap Event, users can create single bonds or opt for pair bonding and earn rewards over a period of time. Fanfury’s Liquidity Bootstrap event ensures the elimination of any kind of manipulation; offers the new Juno users a chance to earn rewards; offers 2x allocation of Bonding Tokens and Rewards to $axlUSDC to ensure higher participation from users that do not hold $FURY.

What's Next?

As part of taking Fanfury on Mainnet, phase 1 includes Terra Migration Airdrop, Bonding on Mainnet, and a Bootstrap Liquidity Event which runs until the 9th of October, 2022. While $FURY holders can claim their tokens and bond them, those who do not own any $FURY can purchase the same from MEXC and take part in the bonding event in order to gain rewards.

Soon Phase 2 of the sequence will be initiated. Where Fan Club Membership/ Staking, and xFURY Debit Card registrations will go Live. Following this, we will take Gameplay live on Mainnet as part of the Phase 3 event.

Want more info about current and upcoming events? Click here.

Start Bonding $FURY and earn rewards!! Click here.

Fanfury is being built on the Juno Network. It’s one of Juno’s first daily fantasy sports projects, that brings a trust-less, community-owned Web 3.0 app to everyone. The platform does this by using decentralized sports data and utilizing smart contracts to ensure transparency and user ownership.

Follow Fanfury

Website: https://app.fury.fan/

Twitter: https://mobile.twitter.com/fanfuryofficial

Disclaimer: This is not financial advice. Readers are responsible for their own decisions and we highly recommend doing your own research and taking advice from your financial advisor before making investment decisions.

Only updates coming through official channels of Fanfury should be considered as official response from the team. Any updates that have not come from official sources or platforms will not be considered as a liability of Fanfury or its team.

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Fanfury

Fanfury is a decentralized fantasy sports platform that brings trust-less play-to-earn gaming to everyone.