Crucible Migrates to Arbitrum - What You Need to Know.
12 Sep 2023, 12:47
📣 Crucible Migrates to Arbitrum - What You Need to Know
💭 We are thrilled to announce the successful execution of DAO proposal FRC-5, which brings a significant upgrade to Crucible.
📰 Read More on Medium:
The FRC-5 proposal aimed to achieve four key objectives:
1️⃣ Reduce the round-trip cost of entering and exiting Crucible.
2️⃣ Encourage greater participation in presales by incentivizing token staking.
3️⃣ Maintain staking incentives to keep the network robust.
4️⃣ Add liquidity to FRM/cFRM pairs to spur trading volume and make exiting easier via swap instead of unwrap.
👉 Updated Fee Structure:
Transfer and Swaps: Reduced to 0.3%
Mint and Stake: Now 0%
Unstake: Now 2%
Unwrap: Now 4%
These rates apply to Arbitrum cFRM, our new standard for Crucible liquidity.
❗️If you have staked your Crucible on BSC, it is adviseable to move cFRM to Arbitrum within the next 30 days avoid unstaking and bridging fees. Starting today, the fees for both bridging and unstaking will be 0% for 30 days. After October 12th the fees will revert to a 2% unstaking fee and standard bridging fees. 🚨