FujiDAO - Fuji Climb: Fantom Expedition
Fuji DAO is a borrowing aggregator that reduces loan expenses by constantly monitoring borrow markets and automatically refinances the debt positions at the best available rates. The borrowing markets and protocols in DeFi are still maturing, and Fuji DAO is working hard towards their long-term goal - DeFi borrowing accessible to more and more users.
Fuji DAO launched the Fuji Climb: Fantom Expedition! Everyone is invited to the climb, all participants being eligible to exchange points for bonds at the end of the event. The CRE8R DAO AMA with FujiDAO has the answers to all FAQ about the Fantom Expedition:
The Fantom Expedition focuses on accumulating meter points, which will be used to claim pre-token bonds. Open a debt position to accumulate meter points proportional to your borrowed amount. Users can earn 1 meter point per day for every $1 of debt, borrowing DAI or USDC against FTM, wETH, or wBTC. The meter points can also be use to buy crates, in the search to find Climbing Gear.
The Fuji Climb is not a classic play2earn game, is pure DeFi and the road to process of decentralization of the protocol . Fuji DAO will allocate 3% of the community share to active users. FujiDAO’s borrowing aggregation capabilities will reward all Fantom participants at the end of the campaign, when points can be exchanged for bonds.
The meter points can be used to purchase crates: 2000 for a common crate, 10,000 for an epic crate and 20,000 for a legendary crate. The crates content can vary from meter points to Climbing Gear NFTs. To make it more interesting, some crates may be empty.
The Climbing Gear NFTs will boost the overall points, and they have to be kept until the Locking Ceremony for the bonus to be successfully applied. There are 10 different gears, each multiplying the points by 10%. Players can stack the same type of gear and receive a better multiplier at the end of the campaign. The Locking Ceremony marks the end of climb and every user must perform it in order to move forward to buying bonds for points. All the collected climbing gear NFTs will be "thrown" into Fuji’s lava and will unlock the bonds allocation.
The Fantom expedition started on the 1st of June and has three phases:
Accumulation phase - active for two months, period when the climbers can accumulate points and gears, buy and open crates.
Trading phase - when all the players can complete their gear set.
The Locking Ceremony - Once the points have been locked, they will become convertible into pre-token bonds.
The Pre-token bonds are ERC-3525 tokens/ Financial NFTs developed by SolvProtocol. Climbers will be able to use their locked points to acquire pre-token bonds.
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