⚖️Magic Fed
Last updated
Last updated
The MagicFed is the DAO ruling Elexir’s economy. Its main goal is to constantly make sure that the treasury is stable and the user rewards consistent.
In order to do that, the Magic Fed will
control the supply of Cauldrons, Cookbooks and Claim Stones
constantly tweak elements of the economy
By controlling every parameter of the economy, the protocol will be able to keep the treasury stable and users reward consistent.
See it like a lever the DAO will be able to action in regards of the treasury health and the price of $ELXR.
Cauldrons, Cookbooks and Claimstone are released by batches controlled by the MagicFed.
Each batches has a quantity, item price and an end date.
When the KPIs of the treasury enables it helping controlling the growth of Elexir and the runway of the rewards. Elexir assets are designed to be scarce!
✨ So you better be ready when the MagicFed drop new Cauldrons! To make sure you will not miss any drops we recommend you follow https://twitter.com/MagicFedAlerts
The Elexir Factor is a multiplier for the . See it as the current boost the economy has.
This factor can be raised or lowered depending on the Treasury's health. It cannot go lower than 1 (initial factor).
The discounts are controlled by the MagicFed.
In the Incubator you can stake $ELXR and get Cookbooks and Claimstones in return, the daily amount available for the staking pool is controlled by the MagicFed.
In the tab on the Shop you can acquire $ELXR at a discount by bonding with either LP tokens or listed token.