BiMEX Fund launches + Updates
The BiShares Dev team has been hard at work! This week we have many updates for the community for our biggest week since inception.
There will be 3 fund launches as described on the updated Roadmap below.
Today, the Bitmex Fund will be launching — biMEX. This fund is the most dynamic to date with a complete blanket of the overall crypto market. Legacy tokens, DeFi blue chips, BTC and some new high flyers like Matic and DOT are included. This fund mimics the BSC Bitmex contract tokens that can be offered from their site. A deep and diverse WHY to enter crypto. All funds have a 7.77% weighting on seed, with Bison at 7%! Farms will be rolled some hours after its launch and will last for 30 days.
On Wednesday, our second fund launch of the week will be a DEFI only fund — biDEFI. For those ones needing to just have DeFi exposure, this is the one for you. The complete fund list and weightings will be available upon launch.
Friday will bring us our 3rd fund drop of the week. This is the FOMO Fund. This fund will comprise of high flyers with the most potential for wild volatility. For apes looking to catch moon shots and be able to keep your food down at the same time — FOMO fund is for you — biFOMO.
The distribution for staking rewards will be made within 48 hrs. This has been a complex and inconvenient process as it needs to be done manually. We are in the midst of changing it to be fully automated for the future. The good news — Over $10,000 in BUSD will be rewarded. For the past 6 weeks random snapshots were taken once a week. Rewards are proportional on the quantity and the duration of the BISON staked by each user. The larger the amount and longer the period staked, will reflect into a larger BUSD reward. BiShares is a very young project and with fees and trading volumes set to rise on ArbEx (BiShares own exchange), these rewards should increase.
Due to the complexity and amount of smart contracts that the protocol has, DeFiYield and Solidity are still processing their audits, but are not too far off for delivery.
As you can see on each of the funds, graphs are live! Extra features also include price and volume, as well as the TVL increase displayed in percentages.
The updates should be done soon, a time frame shall be given on the next update.
An updated Roadmap is below for the next roll outs, while a more detailed October Roadmap will be sent as soon as new technological developments and partnerships have been made and inked.