Hey All,
DEX is widely favored by the crypto community for activities such as swapping, saving, and earning in various crypto coins and tokens. Anyways lets dive into my investment in the Firebird Finance DeFi token $FBA, as well as its associated governance token $FBADAO. The Firebird protocol is intentionally crafted to uphold principles of democracy and transparency, striving to establish a fully decentralized system. Here is my #FBDAO stake which is worth $87+ dollars at the moment and I thought lets book some profit here as its been a long time that I had been accumulating #FBADAO token for staking #FBA token - which is the currency token for the Firebird platform.
After having unstaked my #FBADAO tokens and when I went ahead to redeem saw this message where it said that the redemption has ended. And now need to wait when the redemption will open up again. Upon checking at the discord, I found out that the Firebird team has determined that for Firebird to maximize its chances of success well into the future of the cryptocurrency era and beyond, the FBA and FBDAO components of the ecosystem are discontinued. Did they just rug pull or what? To be honest god knows but what I am hearing is that there be a window for the platform users to redeem their coins for #USDC. At the same time also stated that they we will, of course, permit token holders to redeem from the remaining treasury at a rate that will be disclosed later.
It is crucial to clarify that the discontinuation of the token aspect, including the cashback feature of Firebird, does not imply the cessation of Firebird as a product.
It's noteworthy that with the elimination of the token from the ecosystem, PoL has also been eliminated, and the remaining USDC will be distributed to FBA holders. I just hope that they didn't not rug pull and the users will get their tokens redeemed. I had already swapped my #FBA tokens for #USDC but had left #FBADAO to multiply and here we are in this scenario of loosing close to $100+..Anyways lets see if the team comes up anything or not else will need to just let it go and move on... cheers
Did you know about $FBA? If Yes, did you stake your $FBA to earn the governance token FBDAO. How is your overall experience with Firebird Dex Aggregator? Let me know your views in the comment box below?...cheers
#fba #firebird #firebirdfinance #dao #staking #dex #aggregator #fbadao
Stake #FBADAO to earn $USDC
Image Credits:: firebird.finance, medium, leofinance,
Best Regards
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in Blockchain & Cryptos and have been investing in many emerging projects...
