Fundamenta (FMTA) is building a chain agnostic ecosystem of compliant and insured wrapped assets and use cases around them. Through a technique called Asset Teleportation our assets will be able to live on any supported network the user chooses. All Governed by the Fundamenta Token. What is Fundamenta (FMTA) | What is Fundamenta token | What is FMTA token
Civitas Fundamenta launched the first FMTA Pool on Uniswap with a USDC-FMTA Pair. A few people have asked us why not ETH and the reason is pretty simple. USDC is Stable. The transaction to create the pool is here.
At the time of writing Fundamenta is trading at $0.28 with a total liquidity of $155,384 and total volume of $1,343,348! We couldn’t of asked for more and are humbled by this. Thank you to everyone who has conveyed support and interest it’s because of you we will be able to achieve goals and attain new heights.
Our Liquidity Mining contract here also saw some action! Civitas Fundamenta was its first user locking in 0.102 LP Tokens for 15 days shown here and as you can see this yielded a new position bonus of 7,650 FMTA. At the end of the 15 day Lock Period we will receive 15,500 FMTA and we will compound our position with our Dapp. The FMTA received goes to the Funding Emission allocation but as you can see with significant amounts being locked users can receive huge rewards.
As of now the Liquidity Mining contract has 0.123085473502521255 LP Tokens locked in it at various lock periods. Analytics can be found here.
Token staking had some growing pains in the first few days and this was due the fact that the Lock Period for staking wasn’t 100% clear for some users. This is our bad. We have added a clear warning on the UI explaining this lock hopefully making this crystal clear.
At this time 475,874.417 FMTA is Staking generating passive income with access to the rewards daily.
Work began on our governance system civiDAO. We just named it this week so this is new. This will be the core of Civitas Fundamenta’s governance where users will use FMTA to vote on proposals, company actions, and much more.
I’ts just bare bones at the moment so nothing to bring home to Mom, but we will keep you updated on its progress.
A lot of projects are throwing the term Annual Percentage Yield (APY) around which basically means the percent of return one would see if they locked their liquidity for one year and market prices and many other factors stay the same. As we all know a whole year in the cryotoverse is comparable to millennia and markets are pretty volatile so to us using APY does not really make sense. We have decided to do things a little bit differently to allow providers to more accurately calculate yields. We do this by calculating rewards based on a daily basis and not APY. We are calling this (predictably) Daily Percentage Yield or DPY. Providers will be able to choose one of three lock periods all with different DPY factors rewarding providers who choose longer lock periods with higher DPY. To reward providers who decide to keep positions locked instead of removing them from our Mining contract once the current period is expired we will also apply what we are calling Compounding Daily Percentage Yield or CDPY. This will apply an incrementing bonus that will continue to add to a provider’s DPY until it reaches a set limit.
At Initial launch 5, 10 and 15 days will be users choices for lock period and we will only be supporting the FMTA/USDC pool for liquidity mining. Other pools will be supported as they are added by other liquidity providers.
Below are the initial DPY and CDPY factors:
5 days = DPY using 50000000 BP and CDPY using 50000000 BP
10 days = DPY using 80000000 BP and CDPY using 7500000 BP
15 days = DPY using 100000000 BP and CDPY using 12500000 BP.
MAX DPY = 350000000 Basis Points
Below is an example where we have our user Stake 0.15 LP Tokens using the above DPY and CDPY:
LP Tokens Staked = 0.15
5 Day Return = 3750 FMTA
10 Day Return = 12,000 FMTA
15 Day Return = 22,500 FMTA
DPY after CDPY is applied if users do not remove positions and just remove accrued DPY:
5 Day DPY = 55000000 Basis Points
10 Day DPY = 87500000 Basis Points
15 Day DPY = 112500000 Basis Points
Once a provider has removed their position these factors will reset to default.
To further incentivize liquidity providers, 50% of their calculated daily yield will be rewarded when choosing a lock period. This means if your return after a 5-day lock is 3750 FMTA you will immediately receive 1875 FMTA upon staking your Liquidity Pool Tokens. This is on top of the promised 3750FMTA return. This only happens when new positions are staked and it’s more lucrative for a provider to compound their position than constantly remove it and try to grab a new position bonus.
Providers will be allowed to add to their locked positions when they are deciding to re-lock a position or remove it. This will allow providers that have positions with high DPY from continued re-staking to add to their positions to take advantage if they have added further liquidity between lock periods.
Rewards will be minted at the time of withdraw by the provider and once 10 Million has been reached rewards will taper.
One thing to consider is all the factors (DPY, and CDPY etc.) are all configurable and are also intended to be community governed in the future via CiviDAO.
There is a cap on the amount a single address can stake which means daily rewards will be capped per address. Daily reward is calculated by taking the number of tokens a user has staked and dividing it by a factor called StakeCalc in the smart contract.
Current Stake Cap: 30,000 FMTA
Daily rewards at max stake: 60 Coins
Current StakeCalc = 500
User stake = 4365 FMTA
User Stake / StakeCalc = 8.73 Daily Reward
Fundamenta is building a chain agnostic ecosystem of compliant and insured wrapped assets and use cases around them. Through a technique called Asset Teleportation our assets will be able to live on any supported network the user chooses. All Governed by the Fundamenta Token.
Currently, FMTA is being ranked 1496 on Coinmarketcap
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)... We will use Binance here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You will be charged higher fees when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence.
Step by Step Guide ☞ What is Binance | How to Create an account on Binance (Updated 2021)
But we are not done yet, since FMTA is an altcoin we need to transfer our coins to an exchange that FMTA can be traded, here we will use Bilaxy as our exchange. Bilaxy is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.
Launched in Apr 2018, Bilaxy exchange is a centralized exchange registered in the Republic of Seychelles and launched in early 2018, Bilaxy exchange claims to have hundreds of thousands of traders from more than 80 countries all over the world. Bilaxy places a strong focus on liquidity for new tokens for global crypto traders. With 150+ crypto pairs, Bilaxy aims to establish a leading global trading platform that provides a broad range of trading products and services for global traders with a focus on transparency, reliability, quality execution, and client services. US-investors may not trade here. The reason for excluding US-investors are primarily regulatory reasons.
After going through a similar process as we've done before with Binance, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.
Depends on the policies of the exchange you might be required to go through another KYC process, this should usually take you from 30 minutes to possibly a few days maximum. Though the process should be straight-forward and easy to follow. Once you're done with it you should have full access to your exchange wallet.
If this is your first time making a crypto deposit, the screen here may look a bit scary. But don't worry, it's basically simpler than making a bank transfer. At the box on the right, you will see a string of random numbers saying 'BTC address', this is a unique public address of your Bitcoin wallet at Bilaxy and you can receive Bitcoin by giving this address to the person to send you the funds. Since we are now transferring our previously bought bitcoin on Binance to this wallet, click on 'Copy Address' or right-click on the full address and click copy to grab this address to your clipboard.
Now head back to Binance , go to Portfolio page and click on Bitcoin on your asset list, then click on 'Send' on the right.
Under the Recipient field, paste the wallet address in your clipboard, for security consideration you should always check if both address are matching. It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person.
Click 'Send' to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to Bilaxy!
Now go back to Bilaxy and head to your exchange wallets, don't worry if you haven't seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive. Depending on the network traffic condition of the Bitcoin network, during busy times it may take even longer.
You should receive a confirmation notification from Bilaxy once your deposit has arrived. And you are now finally ready to purchase FMTA!
Go back to Bilaxy, then go to 'Exchange'. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let's get our heads around this.
In the right column there is a search bar, now make sure "BTC" is selected as we are trading BTC to altcoin pair. Click on it and type in "FMTA", you should see FMTA/BTC, select that pair and you should see a price chart of FMTA/BTC in the middle of the page.
Below there is a box with a green button that says "Buy FMTA", inside of the box, choose the "Market" tab here as that is the most straight-forward type of buying orders. You can either type in your amount or choose what portion of your BTC deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click "Buy FMTA". Voila! You have finally bought FMTA!
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once FMTA gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
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