Today, Aidi(bsc) has grown by almost 20%, showing positive dynamics over the past week against the backdrop of a falling market, the token is beginning to be attractive. In addition, the team distributed details of the upcoming migration of Aidi(bsc) to the Polygon network.
Aidi Finance - FAQ - December ‘22’
Aidibsc, Aidimatic And Verse - Migration to
‘Aidi Finance’ token.
Q. When will the migration happen?
A. Quarter one ‘2023’
Q. What will the new token be called?
A. The new token will be called by our branding business name ‘Aidi Finance’. This makes it much simpler for new investors to search and less confusing for which token to invest in.
Q. Why is Verse essential to merge too?
A. Integral for AidiPlayfi and AidiCraft to be more streamlined. As AidiCraft will be integrated into AidiPlayfi it makes more sense to be able to earn ‘Aidi Finance’ which can then be used straight away in AidiCraft for NFT gaming. If we keep Verse the process would be Earn Aidi in AidiPlayfi > Sell Aidi > Buy Verse > Use Verse to buy NFTs for Playfi. There would be a Tax on selling Aidi at 6% then a 10% tax buying Verse. It is too clunky and very punishing on the sell/buy tax. With just one token its Earn ‘Aidi Finance’ > Use ‘Aidi Finance’. This would be a massive quality of life improvement.
Q. What are the other Benefits of merging Verse too?
A. Now all volume will be concentrated onto one token. Instead of just relying on one utility, the new Aidi Finance token will be used for all products that Aidi Finance release. We will have one staking pool so where possible the Aidi Finance products will generate funding to supply the staking pool. There will be only one LP pool to focus on, which can also be added to from the profits of Aidi Finance.
Q. How will the migration and merge work?
A. If you’re holding AidiMatic Or Verse, you will NOT need to do anything. The team will Airdrop holders their share of tokens. For AidiBSC token holders a migration tool will be added to the official aidiverse.com website that will allow you to connect wallet - approve - migrate tokens. Your old AidiBSC tokens will be sent and your share of the Aidi Finance tokens will be sent to the same wallet once the new contract is released. During the migration period, these AidiBSC tokens will be sold to remove its LP and added to the new ‘Aidi Finance’ contract to combine with the LP from the AidiMatic and Verse. Before the migration can start at least 50% of the AidiBSC LP needs to be extracted. The team are looking to open up the migration tool for AidiBSC as early as possible to start collecting tokens for extracting the AidiBSC Liquidity Pool.
Q. What will the new supply be?
A. The new supply will be One Billion Tokens.
Q. What about CMC and CG?
A. We will be able to update our current AidiBSC CMC listing through the self service portal. Our AidiBSC listing is already under the name Aidi Finance. Please also note that prices will not reflect in non-custodial wallets until CMC and CG has been updated, and the charts are being tracked.
Q. Will there be a bsc token again?
A. Short answer, not until we find a way to have cross chain rewards.
Our original thoughts and plan included being able to mint new child networks that would reward their native token. Matic on polygon, bsc on Binance for examples. The major reason why not is because we are not able to share rewards generated by volume and distribute cross chains to Aidi Finance holders on the other networks. We feel this would dilute rewards and leave holders wondering which network token is best to hold. This is why we have decided to make Aidi Finance Polygon exclusive for now and continue to develop all our products on Polygon. Volume and rewards will be concentrated. This is not to say we might not be able to in the future once we find a way to spread rewards crosschains so it doesn’t matter which network you hold Aidi Finance on.
Q. What about the tokenomics and rewards?
A. The tokenomics and rewards will remain the same as the current AidiMatic contract. 6% Tax broken down into 2% Rewards, 2% Marketiing and Development, 2% Liquidity.
You will be rewarded in the native token Matic.
Q. How else will the merge benefit the ecosystem?
A. The merge cuts down costs for Aidi Finance in regards to paying a potential three listing fees for our current tokens AidiBSC, AidiMatic and Verse. Audit costs will also be reduced.
Q. Will there be an Audit for the new contract?
A. Yes, absolutely. We will be aiming to get audits from reputable auditors such as Certik within the same month of releasing the new Aidi Finance contract.
Q. Will the new contract be renounced?
A. Not quite. The new contract will be going to EverRise’s EverOwn. When we submit our smart contract into the EverOwn locker, the ownership of that contract becomes locked to EverOwn. Ownership can be reaccessed through a weighted vote from you, the holders. We want to be more DEFI and lock away our contract so no changes can be made suddenly and only with the approval of our holders can we do so. See everrise.com for more information on their EverOwn.
Q. Will there be token burns?
A. We are moving to a fixed one billion supply that will not involve burns from our tokenomics. However Aidi Finance has the possibility to carry out manual burns using profits made from our products.
Q. How will the new Aidi Finance token be distributed and will my tokens value remain the same?
A. The distribution will be based on tokens held, wether its AidiBSC, AidiMatic or Verse. This will be calculated as a 33% share of the one billion Aidi Finance tokens. The value of these tokens post merge will be calculated using the combined LP of all three tokens. Please note that if there is a price difference between tokens pre migration then you may see your bag value increase or decrease from the pre migration value. However, do not fret, as supply distribution is based on the tokens held. If you do see a value reduction post migration, your bag will scale up faster as token price increases due to owning a higher Aidi Finance token amount. Below we’ll dive into the math.
Token Distribution Multiplier = (Total supply of Aidi Finance/old token circulating supply)x0.333333
AidiBSC token multiplier = (1000000000/45122843818536000)x0.333333 = 0.00000000738723
AidiMatic token multiplier = (1000000000/60000000)x0.333333 = 5.55555
Verse token multiplier = (1000000000/5000000)x0.333333 = 66.6666
To work out your new Aidi Finance amount using these multipliers, multiply your token amount by the multiplier. Each old token will have a supply of 333333000 AidiFinance tokens allocated to them.
The Aidi Finance starting price if migrating today will be calculated using the below formula.
LP supply as % = (LP supply/Circulation supply)x100
AidiBSC = (6507482127038310/4512284381536000)x100 = 14.42%
AidiMatic = (1621349.11/60000000)x100 = 2.70%
Verse = (433698.98/5000000)x100 = 8.67%
Share of Aidi Finance supply for new LP = (LP supply as %/100)x333333000
Aidibsc = (14.42/100)x333333000 = 48072292.3532
AidiMatic = (2.70/100)x333333000 = 9007486
Verse = (8.67/100)x333333000 = 28913236
Combined share for LP = 85993015
Current combined value of LP = AidiBSC LP+AidiMatic LP+Verse LP = $67782+$22834+$51003 = $141619
Aidi Finance starting price = Combined LP of AidiBSC+Aidimatic+Verse/combined share for LP
= $141610/85993015 = $0.001647 Per Aidi Finance token
Market Cap = total supply x token price
= 1000000000 x 0.001647 = $1,646,866.32
Supply distribution continued-
This method of distribution means that current holders will not need to worry about their current tokens as their share of supply will remain constant regardless of prices and LP changes from now until migration date. This is due to the supply distribution multipliers for each token. What will change however is the starting price of the new single token Aidi Finance as the LP and individual token prices will fluctuate as trading happens. It is also important to note that at the current token prices the AidiMatic holders will see a reduction in bag Value in $$. We cannot stress enough that this will not be a problem as the distribution is based on tokens held and scaled with the new supply. So their bag holding will scale up more as the Aidi Finance token price increases due to holding a bigger supply of the Aidi Finance token.
We will provide a calculator that you can use to work out your Aidi Finance token post migration.
Q. Which token should I buy pre migration?
A. You can buy which ever token you like. However, it would be a recommendation to buy the token which would give the greater amount of tokens per $1 as the migration will be calculated on holders token amount. If you are a current holder and you are looking to swap around for more of the supply, please remember there is a tax to sell and a tax to buy which will need to be included in your calculations.
Please Note: A prerequisite of the merge and migration is that at least 50% of the Aidi BSC liquidity is extracted before the migration. This is to prevent any manipulation of the market price.
Aidi Finance feel we have given enough notice of our plans as well as providing all the information necessary to make an informed decision of what to do with your holdings before the migration happens. As always the team are here to answer any and all questions, as well as receive any feedback through our official telegram channel
https://t.me/aidi_official or twitter @aiditoken.
The migration and merge of Aidi Finance is subject to change if required and holders will be updated with any changes before hand
