hey hey wonderful Actifit community!
There hasn't been more exciting times than nowadays, with all the hype floating around about your favorite move-to-earn project, we've been having so many sleepless nights working to get everything in line and make sure Actifit can keep growing across its marketing, development, and all around.
So here's a quick round of updates!
Bridge Me Some Love π
Among the key talk-of-the-town topics on actifit, is the bridge!
For some of you who still do not know, we are building a bridge to enable the transfer of tokens over from hive-engine to BSC.
Many I believe asked whether their AFIT tokens on hive-engine are worthless? the answer is simply no.
While AFIT living on different chains currently has different pricing, neither tokens are worthless.
So, the purpose of the bridge is to enable such transfers while preserving the interest of our existing users and our new investors.
AFIT has seen a crazy spike over the last 10 days - hey we're a great project and amazing community, so we deserve to be well recognized as the top mov-to-earn project that has been around for almost 4 years now!
I digress, ..
So, the interest of our existing users, our investors, and the actifit project is on the top of our priorities.
We have already kicked off the work on the bridge, and the general idea is that you will be able to move your AFIT 1-1 over to the bridge, yet in an innovative manner that would not lead to market dumps and that preserves the value of AFIT. While we know some might want to take some profit, yet we know the bulk of our community would not want to see the price of AFIT plummet, on the contrary, we know you love to see it π.
The way we are building this, and more details will be coming soon, is that you will need to provide a pair of tokens on the hive-engine side of the bridge (AFIT + HBD at a ratio we will determine later), following which and after validation, the bridge will mint AFIT tokens over to your BSC address in an equal amount to the AFIT tokens you locked.
After a lockup period, and in case you wish to redeem back your AFIT tokens along with the locked HBD, you will have the ability to use the bridge in the reverse order(sending AFIT from BSC to Hive-engine).
The reason we chose HBD is because its a stable coin, so it will preserve its value over time. We plan to also lock those HBD into savings, and return back to our users a portion of the rewards in a split of 50-50 when and if they decide to reverse transaction and redeem their hive-engine tokens.
The amount of locked-up token pairs required will decrease over time, which we believe dynamically will lead to pricing equalization across chains.
We will have the bridge available via actifit.io/wallet to simplify the process, and estimate that the bridge will be ready in around 7-10 days.
Again, the above is a preliminary overview of the bridge dynamics, this is still prone to modifications, and more elaborate and accurate details will be rolled out.
CEX Listingsss
We are extremely excited to let you know we have finalized the deals with 2 CEX exchanges for listing of AFIT token. We also have several others under discussion, and a cool fun listing event we will be sharing soon with you for an even third exchange.
We will announce the details as we go along, but AFIT is coming to exchange(s) near you in Mayπ
Scarcer AFIT
Since inception, actifit has been rewarding delegators of HP/SP with daily AFIT rewards (as well as weekly rewards in HIVE/HBD/STEEM/SBD).
The daily pool amounted to 100,000 AFIT (50K on Hive and 50K on Steem), being brought daily into circulation and distributed to our delegators. This is in addition to up to 200,000 AFIT being rewarded out to our users.
As of tomorrow, we will roll out a process to decrease the delegator rewards pool size by 1% across both chains, until the pool size reaches around half amount, which should complete in 70 days from now.
This will cut the daily amount of AFIT tokens brought into circulation, due to delegation, by half within 70 days.
Scarcer is good right? π€
Actifit supports cross-chain decentralization. Support our efforts below:
- Support our witness @actifit on Hive, vote for us or set us as proxy on actifit profile, via peakd, or hive blog.
- Support our witness @actifit-he on Hive-engine, vote for us on Tribaldex.
- Support our witness @actifit on Blurt, vote for us or set us as proxy on Blurt Witness Page.
- Support our block producer actifittelos on Telos, vote for us here.
@actifit team
Another use case for HBD. This is a good sign.
I love to see the development around HBD. It is fun to watch innovators on Hive figure out ways to work it into their applications.
Looking forward to the update on this. Interesting that you will be locking it into the savings to earn the 20% APR. Applications and development teams can really benefit from that.
Exciting times for the movers! Wondering about how the AFIT+HBD lock up though, but we shall wait for more details.
Good news!
πͺ
@actifit, interesting! Congratulations!
p.s. waiting for the updates
Well thought strategy and we can't wait for the new update about the bridge. We will be eagerly and I believe you guys will be working on the bridge to be more transparent and at the same time protect the price of the token
Do we need to transfer afit from actifit wallet to hive engine?
For trading or adding pools, Yes you need to transfer them to HE. You can transfer maximum of 10000 daily. For that you should have 20 AFITX in your account. Upto 500 you can send even without holding any AFITX but above that you need 1 AFITX holding for every 500 AFIT to be transferred. Hope this helps.
You should use leofinance tag for the post.
A bridge between the two systems would be great. I am also sure it would help the popularity of both. Thanks for sharing.