We have an exciting news will go to public next Monday 19th, but we would like to share with the you and the community first~
Arctic and Ref Finance have achieved a strategic partnership and will contribute together to the development of the NEAR-AURORA ecosystem. Ref Finance will become one of the launching partners and get the $veARC initial allocation, and Ref Finance will thus become the Core member of Arctic DAO governance. (Rules will be announced soon)
Arctic and Ref Finance agree to conduct a token swap in order to build a deeper partnership and enhance their governance rights in each other’s DAO. The details are as following:
$REF: Total Value: $75,000.（Execution price will be determined using 30d MA）
$ARC: 0.5% of Total Supply, 500,000ARC, $0.15/ARC ($15M Valuation), Total Value: $75,000. (In the form of $veARC, locked 4 years for better)
The Arctic team will use the received $REF to provision liquidity pools on Arctic, and will not be sold for 4 years.
By swapping tokens, Ref Finance will be able to join Arctic DAO and better govern Arctic’s development. Both Ref Finance and Arctic will build a strong relationship, especially at the community level, to further contribute to the Aurora ecosystem.
Ref Finance and Arctic will collaborate on marketing and community events to promote the partnership and veNFT DAO governance participation.
Arctic is leading the next chapter of Aurora’s development by launching a next-generation ecosystem-DEX, which will provide deeper liquidity, and maximize capital efficiency with 3500x higher than average under the advanced DLAMM model. Arctic’s vision is to become the ecosystem-DEX for Aurora, where ecosystem projects govern how Arctic is run, and the development of the ecosystem as a whole.