With the upcoming wrapped FCT on Ethereum - we would have the ability to launch our own DeFi protocol linked back to FCT.

Using our name and history, we may be able to create a successful token around WFCT.

We have considerable experience and success in DeFi within our ranks, although not talked about.

Why not leverage this, and our name and grant pool to start a project that could raise significant amounts of WFCT and through the gateway provide liquidity and onboarding of people to FCT without a US exchange.

Happy to hear thoughts and feedback before deeper exploration.
This is a way to issue our 10m FCT from the endowment and obtain $millions in funding for the protocol without any sell pressure.

The WFCT will have price support from a real value based on our existing token utility. And we also build a product on factom.finance with loans, yield, swaps, etc.

Instead of needing fees (because we are funded upfront from FCT grant pool), we burn our DeFi tokens with each transaction, creating deflationary effect.

  • Non-anonymous team.
  • Long history.
  • Previous successful DeFi projects.
  • Lots of contacts.
  • Broad, experienced skill set across a large team.
  • Grant Pool for further developments.
  • Insurance fund in place though Factom.

So essentially we start allowing ppl to yield farm our DeFi token using stable coins. We slowly release these emissions, until all 10m are distributed.

This effectively raises us money by replacing printed endowment with real stable coins. Which we in turn invest to gain enough yield on that we can fund Factom development and infrastructure from and end all sell pressure from inflation.

We could seed fund this from the grant pool, and take a couple months to get all the ground work done before a blistering launch.

If we pull it off, it would also bring lots of positive awareness to the Factom Protocol.

I estimate we would need ~$100k upfront to pull this off.
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Key Advantages:

Allows ppl access FCT w/o exchange issues.
Liquidity for FCT and WFCT.
Gives utility to FCT.
Gives utility to WFCT.
Tokens are uniquely backed in value from FCT.
Project uniquely supported by existing Grant Pool.
Allow us to raise funding.

How it works:
  1. We print the endowment tokens and convert to WFCT on the gateway.
  2. We then release these as emissions to ppl providing liquidity in a WFCT-USDC, or WFCT-CRV pool.
  3. We are slowly converting all the 10m printed FCT in to stable coins*.
  4. We then deposit these stable coins into yearn vaults or similar, and earn a safe 10-20% a year.
  5. This is enough to pay for all future development and infra needs of Factom.
  6. We stop all inflation on Factom.
  7. Enter purely deflationary period through usage and transactions, which raises price of both FCT and WFCT.
  1. What is LP?
  2. I think a “safe” 10-20% investment year over year sounds difficult to find, but if you have one in mind I would like to hear about it
  3. Maybe it is because I am not very much into De-Fi, but I still do not get what the product is
  4. Who are these two ANOs you mention and have they indicated they want to do this? It seems like the premise is their participation