PegasusDAO Launch and Roadmap
Obligatory
We are planning the full launch of claiming PegasusDAO, staking, and bonding by Dec 26th, 2021.
We’re currently working on some last-minute UI improvements for our Dashboard. We’ll perform a couple of rounds of testing with different situations after that, and if we’re confident with the end-to-end process, we’ll go live soon.
We will have a tiered launch, our “Hyper-Growth Phase,” which will be explained in more detail below!
Hyper-Growth Phase
In order for the Pegasus protocol to support astronomically high APY’s, we must scale into our launch in the following order.
- Phase A: Open claim page for the redemption of pSUS to SUS (DAY 1)
- Phase B: Open Bonding |Incentivize Treasury accrual with juicy APRs (DAY 1)
- Phase C: Build up liquidity | Incentivize LP with juicy APRs (DAY 1)
- Phase D: Open staking | Ape, diamond hands, (3,3), retire (DAY 2)
Note that for all these phases, we will give a two-hour window in which these features go live. No exact timings will be given out, to avoid botting.
Phase A: Claim
We believe our price discovery phase puts us in a strong position in the market. BTC is on its way to retest $50k, and alts are all printing.
We will be opening the burn pSUS to mint SUS page right before our bonding page goes live!
Weak hands have already been contacted to refund. However, we have not seen anyone take the refunds just yet. In total, if everyone claims their refund, we will have burnt 1860 pSUS which is about 1.87 % of the initial supply of 99,812 (excluding LP). This would also mean, each holder would have gained 2% more of the initial supply overall.
Phase B: “Bonding”
It’s important to reduce dilution as much as possible and this starts with accruing as much Treasury value as possible.
You must have all seen how other OHM forks end up when they underestimate this metric and just keep printing more of their currency for more APYs. Yes, we want high APYs, BUT they need to be backed.
How do we do this? This must be explained by the mechanism that builds Treasury — Bonding.
What’s Bonding?
When users bond to the protocol, it allows the DAO’s Treasury to acquire stable/valuable assets such as USDC, DAI, and LP in exchange for offering $SUS at a discount. The user can claim this discounted $SUS over a 5-day vesting period, every 8 hrs.
For example: Give PegasusDAO $100 in USDC, and we’ll return $150 worth of SUS (valued at the time of bonding) over 5 days.
The bigger the Treasury, the stronger the protocol, and the higher we can crank up the staking APYs in the next phase.
We’ve decided on allocating a portion of the treasury to buy back $SUS off the open market and airdrop to our most loyal Diamond Handers (users who are bonding, staking, and holding).
As of launch, we are offering three primary bonds for growing our protocol-owned liquidity and risk-free value. We are emphasizing our initial backing and deep liquidity with these bonds:
- SUS/USDC Cronaswap LP
- USDC
Treasury growth is an essential objective for our DAO. We believe that our promptness in arrival to Cronos plays an integral part in our growth. We are early to a nascent ecosystem that is the next major EVM-compatible chain to experience massive growth.
Phase C: “LP Build up”
We will set very attractive rates to bond your LP tokens in exchange for discounted SUS! It’s of the utmost importance that Pegasus builds up a deep liquidity pool that we’ve already bootstrapped on Cronaswap.
At the time of this writing, there is $370k USDC in the SUS-USDC LP on Cronaswap.
To add liquidity, follow the link below, approve both SUS and USDC contracts and click supply. When bonding LP tokens, not only will you be minting discounted SUS, but you’ll also be earning 0.17% of all the transaction fees that are generated by our market!
Link to Cronaswap LP:
Phase D: “Staking”
Once we’ve bootstrapped the treasury with a strong period of Bonding and LPing the Pegasus Protocol, we will roll out degen-level APYs. Pegasus beings to mint new SUS to pay the yields at every 8 hour rebase.
What’s a rebase? A rebase is just a fancy way word for auto compounding yield.
Pegasus mints new SUS by having 1USDC or an asset of equivalent value in its treasury for each new SUS it mints.
We will update with an announcement a few hours prior to launch, as well as at the moment we go fully live and functional on the 26th of December.
What are we building and where are we going?
Claiming, staking and bonding are just the start of an ongoing journey. For now, consider your staking of SUS for a 3-month staking campaign.
What are we building?
- Whitelist, Public and Founder sale, treasury bootstrapping, price discovery (Completed)
- Bonding, swap pSUS to SUS, Hypergrowth phase (December 26)
- Landing page redesign (Sneaks below, Dec — Jan 22)
- DAO and Governance forums (January 22)
- Weekly buybacks, airdrops to vSUS diamond hands. (Jan — Feb 22)
Where are we going? (After Feb 2022)
Enabling cross-generational financial iteracy
DeFi and DAOs come with a steep learning curve. One of our core visions at PegasusDAO is to not only flatten this curve but be the go-to repository for all things DAO and personal finance. Some concrete directions we want to take:
- Creating a Medium repository on DeFI including the advantages and disadvantages of DeFi, how to get onboarded safely and confidently, what is staking and how LP pairs work, how to value a project and evaluate its risk, how a DAO works in layman’s terms, and how to manage a portfolio with various degrees of risk tolerance.
- Repository of partnerships for broader financial advice including personal savings, credit, stocks, bonds, real estate — to DeFi and crypto more specifically. There is a wealth of high-quality financial education content creators on YouTube, Twitter, TikTok, and Instagram which we wish to connect users with based on their needs and financial goals. Our community can help recommend content to absorb for investors of all ages, levels and socioeconomic backgrounds and manage what content and partnerships are added to the repository.
- A PegasusDAO MasterClass style educational offering, covering topics requested by the community more in-depth, to be posted monthly in our repository. Think of this as an audio podcast where you can engage talk with just a few founders or with partners that we bring into the class.
We will allocate a good chunk of the Treasury for realizing this goal. More details on this will be announced in a longer post detailing and expounding the above three directions and paths, among others.
Development and Treasury
- Re-design Staking, Bonding page (Sneaks above)
- Bonding page (Re-design)
- Additional utility for vSUS in Cronos ecosystem
- Community NFTs and staking incentives with NFTs.
- Treasury diversification into yield-bearing assets.
- Audits and Partnerships
- Upgrading to Olympus v2 and offering more interesting bond mechanics
- Creating bounties for strategy proposals and rewarding the community who actively participate in policy discussions.
Thank you all so much, and we hope you’re ready to take flight with us at PegasusDAO.
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Disclaimer: By reading this Medium article, you warrant and understand that investing, contributing, staking, or bonding USDC or any other coin into PegasusDAO and our protocol is experimental and risky.
Consider your funds high in the sky, and do not invest more than you can afford to lose. You acknowledge that you are trusting a community of 8000+ strangers on the internet on a random Discord server.
You acknowledge that PegasusDAO, and any known affiliates or assignees bear no liability for monetary or financial loss due to changing market conditions in our ecosystem, that any investor may deem unfavorable even though we use an Automated Market Maker (AMM) system to distribute and reallocate funds through our Treasury to stakers and bonders.
