The current market has forced the team to be creative in order to protect the interest of our contributors while adapting to present market demand. In doing so, we have established innovative solutions and additions to our original protocol. Last month Sigmadex announced our transition to incorporate a new DeFi 3.0 narrative by introducing SigmaFi - a base layer ecosystem. This sustainability layer will help build a strong foundation around SDEX while promoting incentives to use the token in multiple ways.
What To Expect
We are excited to share with you a chronological list of events taking place in the near future.
sSDEX Claim Drop
The anticipated claim drop will take place before the SDEX token is trading and the initial platform is launched. There is a proposed claim period (subject to change & will likely be discussed on our forum). If you possessed AVAX before Dec 31st, 2021 your wallet will automatically qualify to make a claim based on the specifications seen on our GitHub repo:
Claiming With a Referral Link
If you didn't possess AVAX during the snapshot, you can still make a claim using a referral link from somebody else who qualified for the snapshot. By using a referral link you will be able to make a claim of 50 sSDEX tokens with any amount of AVAX in your wallet. The referrer wallet address who provided the referral link will receive a sSDEX bonus as well.
Series A Round
Sigma Labs will be coordinating a private ‘Series A’ financing round ahead of our launch in preparation for accelerated growth. This round is strictly for strategic partners. The capital raised will primarily be used to bring mass adoption and awareness to all Sigma products through scale and deep liquidity injection.
What started out as Sigmadex last year has now evolved into Sigma Labs, a refined DeFi ecosystem engineered to onboard the next million users into the Crypto and Decentralized Finance industries. As blockchain enthusiasts ourselves and despite the current market conditions our team continues to be bullish on Web3’s potential to bring prosperity to anyone with an internet connection. We're already seeing a large demographic of individuals embracing crypto at a rapid pace and pushing NFT valuations into the billions. With that said, equipping the globe with the necessary tools to better harness this disruptive technology is no easy task.
We couldn’t be more excited to be on this journey together with some of the best investors, advisors, and partners across the Web3 universe. We plan on using this upcoming round of funding to:
- Launch and support the SDEX ecosystem from a liquidity and marketing standpoint
- Hire new talent in several growth areas to provide the critical backing required for educating newcomers on the potential of DeFi 3.0
- Expand into other areas with the goal of scaling active community members and ambassadors
- Hire the best engineers required to continue the rollout of new DeFi products underneath the Sigma Labs wing
SDEX Liquidity Event (TGE)
Following the above accomplishments, the SDEX token will be minted and initial liquidity will be injected into the ecosystem. The minting of the native token is something that has been in the works for a long time and we are excited to pair it with multiple early adopter incentives through the SigmaFi base layer protocol.
SigmaFi Foundation Contracts Deployment
SigmaFi consists of 2 different components:
- APY NFT minting through SDEX staking
Deposit SDEX or SDEX-LP in a user set time-locked contract to mint an APY NFT based on deposit and time value.
- Reward minter through SDEX and NFT staking
Deposit SDEX or SDEX-LP to earn SDEX emissions based on the attached APY NFT value.
sSDEX Transformation Contracts
sSDEX is the sister token to SDEX and can be transformed into liquid SDEX by being deposited into a series of Derivative 2.0 contracts. These contracts are bonded to different Sigma curves, time-locks and reward sets. Upon calling the
withdraw function, they become bridged into the native SDEX ecosystem.
SDEX Ambassador Faucet
The faucet deploys a Sigma vault and deposits SDEX tokens for anybody who is supporting the ecosystem. Individuals may participate and earn vested SDEX by spreading the Sigma word through social media, being positive in the community and helping onboard newcomers to use Sigma products. The faucet is funded through the 12% Partnership and Bounty Pool displayed on the token economics page.
We are going to be looking for supporters who can:
- Engage with Sigma products and social media pages
- Create quality write-ups around SDEX ecosystem and offerings
- Infuse positive behavior within the community
- Create media explaining our unique value proposition
Lastly, we would like to thank everyone who has supported us during this journey. Although the market has experienced some turmoil, we are looking forward to becoming an outlier in the space.