Fungie DAO's Fair Launchpad was designed as a direct response to rapid growth of scams plaguing the micro cap token space. Anyone who meets the criteria is able to launch their own token via Fungie DAO's Fair Launchpad. Creators of the new project enjoy multiple benefits provided by Fungie DAO: budget for initial liquidity, free initial phase marketing, SAFU certificate etc. After project's initial phase, DAO members vote on the project's future inside DAO. If DAO decides to continue to support the project, project's management get additional support through funding in FNG tokens & marketing. Future support of the project will be voted on weekly basis in order to motivate project's team to continue the good work.
The main criteria to launch a project via Fungie DAO is to deploy it's token through "child smart contracts". Child smart contracts are designed in a way to continuously increase the value of Fungie DAO's FNG token. This is achieved with variety of functions such as FNG-BNB LP tax fee and FNG buyback & burn tax fee. Continuous increase in FNG token's price rewards strong-hand holders, enables funding of positively voted projects & makes Activity Farming much more profitable - without lowering FNG token's price.
As stated earlier, current reward systems such as active/passive yield farming are quite unfair. That's why Fungie DAO came up with new reward system - Activity Farming. Activity Farming is based on ranking system correlated to FNG Token's holdings. There are 3 regular and 3 special ranks. Regular ranks are based off the FNG holdings, while special ranks are divided in "Marketing Partners", "Child Management" & "Relief Bill". For each rank there's a special Telegram group. To get access to regular ranks groups, users connect their wallet to their Telegram account via collab.land bot. If the wallet's holdings meet the requirements, user is granted access to the Telegram group or groups. Each rank/group enjoys different benefits and gets different weekly task. Weekly tasks vary from voting, sharing, following, upvoting etc. and are monitored via gleam.io application. Active users who complete required tasks earn Activity Farming rewards (1% of FNG Token's Supply every week, for 1 year). Users who sell their required holdings, or don't complete weekly tasks - get automatically kicked from the group or miss the rewards. This way Fungie DAO ensures that only active & invested members reap the rewards.