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Weekly Update:
- May Monthly Airdrops are out. If you posted last month sent your xDAI address to the modmail and we'll get you those participation tokens, but the window closes at the end of the month.
- RxDAI-xDAI parity is back to 0.01.
If you ever seen it below that, I would suggest buying it because the internal liquidity bot will be sweeping it up.
3) We love seeing Airdrops being spent on stablecoins. This is healthy. When Uniswap did the 400 UNI airdrops hundreds of millions of dollars worth of UNI were sold over the next few months, enormously benefitting dApps, fledgling projects, and crypto trading position stacking. This was good for the ecosystem and acted as a stimulus for the whole ecosystem. Hayden is to be commended for his community-first approach to growing by incentiving these early adopters to continue to trumpet a project they were already using.
3) $635.91 in value strong and rising.
4) Incremental, sustained growth. The longest-lasting projects see sustained, incremental growth that portends longevity.
5) The growth in utility means a sustained growth in ROI. Remember, with 2 tokens affixed to a particular value, as long as the return to parity is sustained, you're not going to see an impairment loss in the way you will on any Uniswap V2 fork.
The ideal use for active r/xDAI community members is to take your RxDAI and stake them. All the while you're earning RxDAI xDAI, which you can take out at any time. Our plan is to continue to build sponsorships and activity such that the volume spikes incrementally up to well into the double-digits in a sustained way. On Uniswap and other platforms you'll see this 1 year number and it's 1000% apr BUT the next day and month and year it could go to 0%. These numbers are estimates based on the volume being exactly what it was for that 24-hour period.
It's important to have high fees, but equally important to have that regularity to deliver on the ROI promised during the course of the year. A regular volume also a sign of a healthy, vibrant project.
6) Did an adding liquidity tutorial
On https://app.honeyswap.org/#/swap you click on Charts to get to the Honeyswap Display.
or go to https://info.honeyswap.org/#/pair/0x4e8eb75889aff0cc6c23631af8bb0460b189be3d
https://i.redd.it/f4svhnic44671.gif
Once there you can search for xDAI DAO then RxDAI-xDAI crypto pair.
https://i.redd.it/ga31alzk44671.gif
If you're logged in with Metamask, you'll see your RxDAI populate automatically and you can add it as liquidity along with xDAI, and vola, you will have a % representation of the pool, earning interest for all transactions thereafter.
https://i.redd.it/4nnd10dn44671.gif
The RxDAI-xDAI token adds will be confirmed in the blockchain and you're all set.
https://i.redd.it/jgp8arrw54671.gif
7) New Sponsor for the scaling of the RxDAI token:
Changenow. - Tight spreads on exchanges between all top 100 cryptos and many hundreds more! Each transaction goes into a RxDAI stability fund, buying back when RxDAI dips below $0.01 xDAI.
Stay tuned for some more use cases that we're pushing forward that makes use of the RxDAI community stablecoin. More planned uses means greater volume, resulting in higher ROI for RxDAI-xDAI stakers.
The ultimate aim is to grow this community by size, total value locked (TVL), and influence, resulting in some innovative projects and initiatives springing from the Discord.
8) CoinGecko RxDAI submission submitted. Processing time can be lengthy, but at least good to get the process started.
9) Ways to Get RxDAI:
- Monthly airdrops
- The xDAI DAO.
1) Visit the xDAI DAO
2) Deposit xDAI or any token into the DAO's Vault (It says ETH but it's really xDAI)
3) Within 12 hours you'll be awarded the correct number of RxDAI, based on the value submitted.
10) What do I do with RxDAI?
- Stake it
- HODL it during periods of crypto uncertainty or if you're feeling bearish.
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