Aggregation Fee and Firenest Pool!

Aggregation Fee

Now that Firebird’s DEX aggregator has been established and solidified on various chains, it is time to begin our next phase of growth. While we always offered the most cost effective swaps, our next phase will implement a new mechanism to safely monetise our services without negatively impacting our users.

This week, we aim to begin this process on Fantom. Utilising a flat swap fee of 0.05% for non-stablecoin tokens, and a stable swap fee of 0.005%. Using the revenue generated from these fees, we will kick-start building our own liquidity and help fund the Firebird project indefinitely. Here is a sneak peek at what this could look like using current trading volumes:

Estimated return from aggregation fee

Focusing on just the Fantom volume, we estimate daily fees upwards of $5000 or more, resulting in approximately $163,000 profit per month (taking current daily volume averages) — for just one chain!

The Firenest Pool

We plan to begin deploying the Firenest Pool within 2 weeks where our process will be meticulous and thorough. Initial testing period on Fantom will last for 2 to 4 weeks, during which 50% of these fees will be used to build liquidity on the Firenest pool and 50% will be used to to create a treasury and fund ongoing operational costs. This 50–50 split will remain during the testing period, where upon complete release it will be reevaluated and adjusted accordingly.

Firenest Pool Composition

For the safety of our users, we will not enable deposits for the Firenest pool during the initial testing weeks.

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Firebird Finance

Firebird Finance

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An innovative one-stop defi, multi-chain yield farming and decentralized exchange aggregator.