more HOPE (mHOPE) is coming!!!
FireBird is pleased to announce that the Lock and Boost feature goes live with mHOPE.
Together, by staking mHOPE, the Firebird community members can contribute significant usage to Firebird Finance.
The mHOPE token comes with unique features and in true Firebird style, more opportunities for increased ROI.
What is mHOPE ?
mHOPE is our fork of Curve’s veCRV code, which has the best token design in the industry for long-term holders.
mHOPE encourages long-term staking and an active community involvement through unbiased governance.
Features of mHOPE
Users who lock HOPE between 1 week to 4 years will receive mHOPE.
As soon as mHOPE is received, it becomes transferable but only for voting rights. The address which is used to lock HOPE to get mHOPE will be able to redeem HOPE without any need of holding mHOPE.
The address can also be unlocked earlier than planned, with a penalty of 50%, which will be burned..
For governance, 1 mHOPE = 1 vote.
The minimum (to be defined) mHOPE staked allows projects LP tokens to appear on our FaaS site autonomously.
Voting on FaaS allocations will happen every 2 weeks, allocating a portion of emissions across all liquidity pairs on FireBird Swap.
Users will have the ability to change their votes every week and will be able to allocate their mHOPE to different pools.
mHOPE will allow the user to control HOPE emissions across all ecosystem products in the future.
Extra Benefits of staking mHOPE
- Other projects who want to participate in FaaS will be incentivized to lock a high amount of mHOPE at launch and provide high liquidity pairs right at launch.
- Big liquidity providers at Firebird will have to consider an alternative option (staking instead of selling their entire HOPE emission) otherwise their earnings are slowly eroded to 0.
- Projects who held their mHOPE and have been part of the FaaS benefits by retaining their emissions.
- Third parties Yield Aggregators for FireBird ecosystem will build up positions in HOPE so they can maintain or achieve the highest yield for their communities.
How to get mHOPE
To get more HOPE (mHOPE), go to https://app.firebird.finance/governance to lock your HOPE.
Next, go to https://app.firebird.finance/stake to stake your mHOPE and get profit sharing from the ecosystem.
Rewards will start at exactly 2pm UTC 17-June-2021.