The screenshot above represents the start of our $ZBTC Pre-sale, following the merge from DHM to icarus Finance. You can find it here: https://twitter.com/zetta_icarus/status/1377434763905138691
On the 30th March, DHM started the migration to icarus on the Binance Smart Chain (BSC). Users have started swapping their $DHT for $ICA, and their $DHM for $ZBTC, this transition is being a complete success as users are receiving their $ICA and $ZBTC in their wallets at the announced times; the process is still ongoing.
On March 31st 2021, icarus opened the fourth pool, $ZBTC, which allows users to mine Bitcoin ($BTCB). Each $ZBTC is currently $13.50 BUSD, increasing to $15 BUSD on the 08/04/2021 for the remainder of the pre-sale.
Check out the link to purchase $ZBTC during pre-sale: https://app.icarus.finance/buy
The Multiple Benefits of Moving to the Binance Smart Chain
DHM has benefitted greatly from expanding to the overseas market and joining icarus, not only due to the higher liquidity on the BSC, but also due to the faster transaction speeds and lower gas fees. This enabled previous DHM holders to truly participate in Defi applications, allowing further flexibility and potential yields for all users.
When looking at on-chain data, we can confirm that the Binance Smart Chain is superior to HECO in regards to number of users, liquidity, volume of transactions, transaction speed and, as we all know, low fees. The BSC, in simple terms, is able to provide the foundation that allows projects such as icarus.finance to thrive. We need to rely on a strong, prosperous, and consistent network that provides affordable fees in order to allow users to truly dive into Decentralized Finance (Defi).
Tokenomics & Mechanics
icarus.finance has 3 tokens. Two of those are our hash rate tokens, $ZETH and $ZBTC, and the other is our governance token, $ICA. Firstly, our hash rate tokens can only be issued in accordance to the project’s mining power. They are directly pegged to the project’s hash / mining power as well, which means they can never be liquidated. The price of these tokens is bound to oscillate around a specific value: $6 for $ZETH, and $15 for $ZBTC. Users can stake $ZETH and $ZBTC in the single-stake pools, which will reward them with mining yields in the form of $ETH and $BTCB, respectively. As it stands, the project’s mining power allows for a $ZETH and $ZBTC token supply of 1,000,000 each.
In addition to our mining pools, icarus also offers two yield farming pools when users provide liquidity, which is where $ICA comes in. In a way, this is what makes icarus.finance truly unique.
$ICA is a deflationary token with a limited supply of 10,000,000. $ICA will be minted over a 2.5 year period, with emissions reducing gradually over time. In addition, 20% of the project’s $ETH and $BTCB pools is used for the market making pool (MMP). A proportion of this MMP will be used for $ICA buy-back & burns, with this % changing depending on market conditions.
Note that the token rewards from staking in the mining pools, such as $ETH and $ICA, are the exact tokens required to pair into into our LP farms, allowing users to maximize the efficiency of their capital utilization.
icarus’s Roots on the BSC Community & Longevity
The icarus team has been deeply involved on the BSC ecosystem, and as a result, we have established a good foundation and understanding of the community (for example, Tom_Everywhere is the community manager at Autofarm). The team is fully committed and focused on the growth of the project, by increasing the its mining power via new facilities. The objective is to not only increase our scope on the BSC, but to also improve our hash power, which will solidify icarus.finance as the #1 crypto mining project in the entire space, not just the BSC.
Observing the current ecosystems of the networks, Ethereum’s huge gas fees have blocked the general public from thriving in this space. Sure, this may be resolved with EIP 1559 in a few months’ time, but not everyone is willing to wait, especially in an ever changing crypto world where 2 months sometimes feel like 2 years. When looking at on-chain data, we confirm that the Binance Smart Chain is superior to HECO in regards to number of users, liquidity, transaction speed, lower fees, as well as higher transactional volume. The BSC, in simple terms, is able to provide that foundation that icarus.finance requires to become the #1 Crypto mining project in this space. We need to rely on a strong, prosperous, and consistent network that provides affordable fees in order to allow users to truly dive into Decentralized Finance (Defi).
From the perspective of the DHM project, the decision to migrate was not made lightly. After carefully weighing the pros and cons, and with the notion that our user’s interests are always #1 priority, we calculated that making this leap would be most beneficial to our users in the long run, while also complying with DHM’s principle of providing users with a sustainable, low-risk investment model.
Finally, from the perspective of the DHM community, we worked hard to provide a seamless transition from DHM /HECO to icarus.finance / BSC. This bridging has been a massive success to date, with the migration of tokens being executed with no setbacks whatsoever.
Token Migration Details
1) Users have, and will transfer $DHT to $ICA at a 1:1 ratio without loss or lock-up. $DHM is also transferred at a ratio of 1:1. Although it needs to be locked-in for 3 months, considering the interests of users, the lock-in will not only give all the mining income ($BTCB+$ICA) in the 3 month lock-up period, but also increase $ICA rewards to 2x (1x extra rewards for the first month, 0.5x extra rewards for the remaining 2 months, uniformly distributed to all addresses after the mining cycle ends).
2) The mining mode has been changed from the original T+1\T+2 rewards calculation method to real-time calculation of rewards. This means that users receive rewards per block, not per day, as that’s how the BSC operates. In other words, if you deposit your $ZBTC now, you can claim rewards straight away rather than having to wait a set amount of time. This provides greater flexibility to users as they can change their position at any time without worrying about losing the mark-time rewards during the changing process.
3) Increased re-investment ability, via the $ICA liquidity pools, to allow users to snowball rewards at a lower cost due to the BSC, which was not possible before.
To sum up, the combination of DHM and icarus is not only a positive leap for both parties in terms of quality, but also give users greater confidence in the longevity and development of the project, its expectations and rewards. This is made possible by operating on the BSC, and providing true Defi applications via liquidity pool staking, and later partnerships.
We wanted to take this opportunity to thank the entire community for the continued support throughout the entire project. We are honoured to be able to provide a superior level of service for everyone and we hope to have you here for the long run, at the end of the day that’s what mining is all about: We’re not just miners now, we’re farmers too!
Website — http://icarus.finance/
Medium — https://icarus-finance.medium.com/
Publish0x — https://www.publish0x.com/@icarus_finance
Twitter — https://twitter.com/zetta_icarus
Instagram — https://www.instagram.com/zetta_icarus/
Discord — https://discord.gg/YtDUZwXjkN
Support — https://t.me/icarusfinance_support
Price chat — https://t.me/icarusfinance_pricechat