Honest farmers need to deposit $DUSD to participate in the initial liquidity distribution. $DUSD can be minted with DAI, USDC, USDT, TUSD, yCRV and yUSD from our app. This is not a token sale! At the end of the 4 day period (TGE), $DUSD will be auto-converted into an equal number of balancer pool tokens (BPT) that have exposure to both the contributed $DUSD and a proportional share in the pool of 3mil DFD tokens (3% of the token supply). The BPTs will also be auto-staked. The staked BPTs will unlock linearly over a month and will farm an additional 1mil DFD during this period. Additional distribution details will accompany the ILMO launch blog with participation instructions.
The mechanism ensures the following:
No gas wars to participate
Parity in DFD mined irrespective of when you contribute DUSD.
Everyone starts DFD farming simultaneously, no action required after the initial contribution
Please check the medium post DefiDollar: Initial Liquidity Mining Offering (ILMO) for more details.
The ILMO contract has been audited by Peckshield.