Locking pools are here and with that, we are ready to start distributing the governance token of the protocol!
AQUA AMMs are now on the mainnet, and we have been waiting for that! FxDAO protocol needs pools where people can trade assets in an efficient way to work properly because the peg of the system is kept by arbitragers (you can read more about it here).
Because arbitragers are the ones who keep the protocol healthy, the FxDAO protocol rewards them with the $FXG token... But how does the protocol know how much to distribute? Well here comes the "locking pools".
The locking pools are those listed in the app and where you can lock your pool shares, then each day the FxDAO organization will distribute a fixed amount to the pools so when you decide to withdraw your locked shares you will receive the $FXG reward too. You can read more about the locking pools here and about the distribution of $FXG here.
When will the distributions start?
Distribution of the governance token will start on Aug 31st but the calculation of the rewards will start from next Monday (Aug 5th), this means that if you lock your shares next Monday and you keep your deposit there until the first distribution, you will get all the rewards accumulated from Aug 5th until 30th. After that initial distribution, the next distributions will be done on a daily basis.
What's next?
Now that the first pool is out there and the distribution of the governance token is scheduled, it's time to have the DAO website. This is almost done and we are currently testing it out, the DAO website will be available by the first distribution. Let's keep building 💪.