The Future of $FIRE: Embracing Decentralization Amid Regulatory Uncertainty
In the face of growing regulatory uncertainty in the U.S. cryptocurrency landscape, we’re taking a bold step to ensure the future of the $FIRE Token project. We’ve always prided ourselves on being a community-driven memecoin project, and now more than ever, we believe in the power of our community to guide us forward.
The goal is clear: to make the $FIRE Token project completely decentralized by placing all of the project’s assets directly into the hands of our DAO holders. This move not only represents a strong commitment to our foundational principles of decentralization and community ownership, but it also provides an innovative way to navigate the complexities of the current regulatory environment.
In line with our transparent approach, we’re offering three distinct options for the DAO holders to vote on. Each option represents a different path towards full decentralization and comes with its own set of incentives and benefits:
- Options 1 and 2: These options incentivize DAO holders to maintain their airdropped liquidity positions by rewarding them with additional $FIRE tokens every epoch. It encourages active participation in the ecosystem, stimulating growth and fostering a strong sense of community ownership.
- Option 3: This option is akin to redistributing everything ‘as is’. It allows DAO holders to freely manage their share of the project’s assets, offering maximum flexibility and individual autonomy.
Regardless of the path chosen, the future of the $FIRE Token project will be entirely in the hands of our community. We believe that by empowering our DAO holders, we can collectively navigate the changing tides of the crypto world and continue to grow and innovate in a way that respects the decentralized ethos at the heart of blockchain technology.
We’d also like to reiterate that the $FIRE Token project has always been a memecoin project with a clear disclaimer: the $FIRE token is not a security, and all token pulls from the Fire Hose were donations, not purchases. This ethos of voluntary participation and community-driven growth will continue to guide us as we navigate this new chapter.
The decentralization vote is a significant moment in our project’s history, and we’re excited to see the direction our community will choose. The future of $FIRE is, as it always has been, in your hands. Together, we can continue to build a project that truly embodies the spirit of decentralization and community ownership.
Your voice matters. Let it be heard. Cast your vote and shape the future of $FIRE.
Option 1: Balanced Liquidity, Token Buyback, and Expanded Rewards
- Add the remaining 9 million $FIRE tokens from the Fire Hose (plus ~335₳ from $firetreasury) to the MinSwap Liquidity Pool, creating a balance with SundaeSwap.
- Use the approximately 2100₳ remaining from $firetreasury to buy back tokens, with half being purchased from MinSwap and half from SundaeSwap.
- Deposit all bought back $FIRE tokens into DripDropz for rewards. These rewards will be based on holding MinSwap/SundaeSwap LP tokens, with continued rewards for NFT holders and CLYDE Stake Pool delegates.
- Distribute all Minswap & SundaeSwap LP tokens to DAO holders through an airdrop.
- Distribute all ADA in $firedao.reserve (approx. 6650₳) to DAO holders via an airdrop.
- Sell all ADA in $firedao.charity to make a final donation.
- Keep the remaining FIRE tokens in the Charity Wallet for future donations.
Option 2: Liquidity Consolidation, Token Buyback, and Farming Rewards
- Consolidate Liquidity Pools by moving all project provided liquidity from SundaeSwap to Minswap.
- Use approximately 2450₳ from $firetreasury to buy back tokens on MinSwap with 3 equal daily purchases.
- Setup a MinSwap Farming Pool and deposit all bought back FIRE tokens into a 1 year distribution farm.
- DripDropz rewards for NFT holders and CLYDE Stake Pool delegates will end once the current balance is depleted.
- Distribute all Minswap LP tokens to DAO holders through an airdrop.
- Distribute all ADA in $firedao.reserve (approx. 6650₳) to DAO holders via an airdrop.
- Sell all ADA in $firedao.charity to make a final donation.
- Keep the remaining FIRE tokens in the Charity Wallet for future donations.
Option 3: Balanced Liquidity, DAO Distribution, and Reward Depletion
- Add the remaining 9 million $FIRE tokens from the Fire Hose (plus ~335₳ from $firetreasury) to the MinSwap Liquidity Pool, creating a balance with SundaeSwap.
- Distribute all Minswap & SundaeSwap LP tokens to DAO holders via an airdrop.
- Distribute all ADA in $firedao.reserve and $firetreasury to DAO holders, totaling approximately 8750₳.
- Maintain DripDropz rewards as they are, continuing to reward NFT holders and CLYDE Stake Pool delegates, but these rewards will end once the current balance is depleted.
- Sell all ADA in $firedao.charity to make a final donation.
- Keep the remaining FIRE tokens in the Charity Wallet for future donations.
These options provide the FIRE community with diverse paths towards total decentralization and complete community ownership. The choice lies in the hands of our DAO holders, the future stewards of the $FIRE Token project.
Additionally, the Genesis fireDAO NFT will be valued at 10% more than a Member fireDAO NFT, which reflects the additional privileges or recognition associated with the Genesis fireDAO NFT.
In conclusion, the $FIRE Token project is taking bold steps to ensure its future by embracing decentralization and placing all of its assets directly into the hands of its DAO holders. The project is offering three distinct options for the DAO holders to vote on, each with its own set of incentives and benefits. A vote will take place followed by a snapshot of all fireDAO NFT holders with the airdrop distribution to follow shortly after.
By empowering its community, the $FIRE Token project aspires to rejuvenate and strengthen a vibrant community around our memecoin. Together, we can build a project that truly embodies the spirit of decentralization and community ownership.
Remember, it’s important to conduct your own research or consult a financial advisor when dealing with cryptocurrencies and NFTs.
Summary
- The vote is scheduled to take place between Monday 5/22/23 – Wednesday 5/24/23.
- A snapshot of all DAO holders will be taken on TBD.
- The distribution/airdrop is scheduled to take place by TBD.
- The Genesis fireDAO NFT will be valued at 10% more than a Member fireDAO NFT.
(represented as decimal value: Genesis = 0.5625 & Member = 0.5125)