Update on Athos Finance NFT Collection (Season 2 Upcoming!)
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Back in June, we announced our partnership with MoonBeans to launch the Season 1 of Athos Finance NFT Collection. We are delighted to see significant interest from the community since the announcement. Today we would like to announce our upcoming Season 2 of the collection, as well as to provide an update to Season 1.
Announcing Season 2
Our goal of the NFT collection has always been to reward Athos supporters who contribute to the community along the way. While the eligibility for claiming Season 1 NFTs was mostly based on community activities, the eligibility for claiming Season 2 NFTs will be based on the contribution to our IDO StellaSwap.
These NFTs will not only be a testimony of your contribution to the Athos community, but also give you real utilities when you interact with the Athos ecosystem after the product launches.
IDO participants will be eligible to claim an NFT based on the contribution amount listed below, provided that they hold all the acquired IDO tokens until 10 September:
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For example, if Tom contributes $1,000 to the IDO and holds the tokens until 10 September, he will be eligible to claim a Shark NFT. However if he sells any of the acquired IDO tokens before 10 September, he will forgo his chance of claiming the NFT.
Eligible users will be able to claim the NFTs shortly after 10 September. We hope this can reward community members who contribute and are in it for the long run with the Athos community.
Update to Season 1
Since Season 1 NFTs began minting earlier this month, we have heard a lot of questions from the community about next steps with the collection. While we have not set a maximum supply for each of the NFTs, we understand there is a need to cap the supply of NFTs, especially those given to early supporters of Athos. With that in mind, community members can continue collect XP with Athos Quest to make themselves eligible to claim the NFTs until 24 August 23:59 UTC. Minting for Season 1 will also continue until 31 August, 23:59 UTC.
We would like to take this opportunity to thank you everyone who supported Season 1 of our NFT collection since the beginning. We look forward to seeing you with our subsequent seasons of our NFTs too!
Website & dApp: https://athos.finance/
Discord: https://discord.gg/g9huyAYgN8
Telegram: https://t.me/athos_finance
Twitter: https://twitter.com/Athos_Finance
Product Deep Dive — Athos Buildr
With the product expected to be live soon, it is the perfect time for us to publish a series of product deep dive articles — aiming to give community members a better sense of what to expect from the Athos Product Suite.
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Today, we will do a deep-dive into Athos Buildr, one of the three main pillars of the Athos Product Suite. Athos Buildr acts as the gateway to the Athos Product Suite and is designed to allow users to manage their positions in the Athos debt pool. If you want to understand more about our Athos debt pool, you can refer to our previous explainer article.
With Athos Buildr, users can (1) stake $ATH to build $athUSD, (2) burn $athUSD to unstake $ATH and (3) claim weekly rewards. For the rest of the article, we will go through more details as well as the step-by-step guides for each of the functions.
Stake $ATH to build $athUSD
Users can stake $ATH to build $athUSD, the base currency of the Athos Ecosystem. By building $athUSD, users also become a part of the debt pool that acts as counter-party to synthetic asset trades on Athos Exchange. With $athUSD, users can then gain investment exposure into all products within the ecosystem.
Step-by-step:
Click “Build” at the menu on the top of the Buildr dApp.
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On the right side of the “Build” interface, you should be able to see your $ATH balance (available, staked & locked). Available $ATH is the amount of $ATH available for you to stake now. If you need to acquire $ATH tokens, click on “Buy ATH” to do so on StellaSwap.
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On the main panel, P-ratio is pre-set to 500. It means that for every $5 worth of $ATH, you are able to build $1 $athUSD. The amount of $athUSD you can build will fluctuate over time due to changes in the value of $ATH and the debt size you have already taken.
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There are three options for you to proceed with building $athUSD:
* Enter the amount of $ATH you want to stake. The system will calculate the amount of $athUSD you can build.
* Enter the amount of $athUSD you want to build. The system will calculate the amount of $ATH you need to stake.
* Click on “Max” located under “Build athUSD” to build the maximum amount of $athUSD you can with your $ATH at a P-ratio of 500%.
You can then click “Build Now” to proceed, and sign the transaction with MetaMask.
Now you have entered a debt position and became part of the debt pool. You are responsible for covering your pro-rata share of the debt pool from this point forward.
Burn $athUSD to unstake $ATH
With Athos Buildr, users can burn $athUSD to reduce their debt in the system. This is the opposite of staking $ATH to build $athUSD. It allows users to increase their P-ratio, or unstake their $ATH if they wish to exit the system partially or completely.
Step-by-step:
Click “Burn” at the menu on the top of the dApp.
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On the right side, you should be able to see your $athUSD balance and your debt balance. $athUSD balance is the amount available for you to burn, while debt balance is the $athUSD amount you need to burn before you can fully unstake your $ATH.
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There are three options for you to proceed with burning $athUSD:
* Click “Target Ratio” to bring P-ratio back to 500 and unstake any excess $ATH.
* Enter the amount of $ATH you want to unstake. The system will calculate the amount of $athUSD you need to burn to keep a P-ratio of 500.
* Enter the amount of $athUSD you want to burn. The system will calculate the amount of $ATH you can unstake while keeping a P-ratio of 500.
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You can then click “Burn Now” to proceed, and sign the transaction with MetaMask. Once the transaction is processed, you have officially burnt some $athUSD!
Claim weekly rewards
Users who build $athUSD take on the risk of the debt pool and act as a pooled counter-party against all synthetic asset trades on Athos Finance. Therefore, they are also entitled to weekly staking rewards in $ATH and a portion of Athos Exchange transaction fees, which are claimable as long as their P-ratio is above 500 at the time of claiming.
Step-by-step:
Click “Claim” at the menu on the top of the dApp.
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On the main panel, you should see the amount of Staking Rewards (in $ATH) and Exchange Rewards (in $athUSD) you are entitled to claim.
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You need to ensure your P-ratio is above 500 in order to claim the rewards. If necessary, you can stake extra $ATH or burn excess $athUSD to bring P-ratio to 500.
You can then click “Claim Now” to proceed and sign the transaction with MetaMask. Once the transaction is processed, you have officially claimed your rewards!
Final Words
So this is the end of the Athos Buildr deep dive. In the coming days, we will publish more articles under the deep dive series — aiming to give you better understanding of our products.
We hope you are as excited about the product launch as we are! In the meantime, if you have any questions, feel free to drop into our Discord to let us know!
Website & dApp: https://athos.finance/
Discord: https://discord.gg/g9huyAYgN8
Telegram: https://t.me/athos_finance
Twitter: https://twitter.com/Athos_Finance