Announcing FMP Seasons, a series of incentives for users participating in the Flat Money ecosystem.
To celebrate our upcoming launch in March, we want to share details about our Flat Money Points (FMP) Seasons. Flat Money Points will be ERC-20 tokens that are fully onchain. In the future, FMP will be converted to the protocol’s native token. FMP distribution will begin after the Flat Money launch on Base mainnet in March 2024.
Over the next several months, we will distribute FMP to those who participate in the Flat Money ecosystem. There are many ways to earn FMP, some of which are outlined below.
Season 1: Flat Money Early Depositor Vault
Earlier this month, we launched the Flat Money Early Depositor Vault on Toros Finance. To participate in the Early Depositor Vault, you can commit USDC to earn UNIT yield ahead of the Flat Money launch on Base mainnet.
If you deposit in the Flat Money Early Depositor Vault, you will earn a share of 21,000,000 FMP over the next year in addition to earning yield on UNIT when we launch in March. The Early Depositor Vault will have a $5M maximum capacity.
Projected UNIT and FMP Yields
Based on current funding rates in the market, we are projecting that UNIT will earn 20-50% APY. As an early depositor, you will be among the first UNIT holders to earn trading, liquidation, and funding rate fees from Leverage Traders active in the Perpetual Futures Market.
You also earn a share of 21,000,000 FMP, and assuming an FMP price of $0.10, you will earn an additional 40% APY in FMP when the vault’s $5M cap is reached. The yield could be even greater if the vault’s cap isn’t reached or if the market provides a higher valuation for FMP.
You can see the current countdown on the Flat Money Early Depositor Vault page on Toros.
Season 2: DHT Staking
While Flat Money doesn’t have any external dependencies on other protocols, it is within the dHEDGE family. The team behind the Flat Money protocol is part of the same team working on dHEDGE, Toros Finance, and mStable.
The second season of FMP incentives will focus on rewarding DHT holders who stake their DHT tokens in a yet-to-be-released staking vault on Toros Finance. In the future, we plan on creating synergy between Flat Money and the other dHEGDE products.
In the near future, the dHEDGE team will share an announcement about the new DHT staking vault, and we’ll update our community about Season 2.
Future Seasons
Keep an eye on our socials for announcements about future seasons, as we have more in the works. There will be other ways to participate in the Flat Money ecosystem and earn FMP.
In the meantime, check out the Flat Money Early Depositor Vault on Toros and learn more about FMP in our documentation.