The Deep Liquidity Maneuver
In accordance with our commitment to transparency, our sworn duty to uphold the long term growth and stability of the project, and no objections from the community, we withdrew a portion of the treasury and added it to the Sushiswap liquidity pool yesterday.
This was done to maintain price stability as we move forward, as well as accrue trading fees for the treasury. Furthermore, we sacrificed tokens from the team multisig wallet and added them to the liquidity pool.
The Treasury Grows
All LP tokens that were created were deposited into the Faircastle treasury for safekeeping. This increased the liquidity pool of the FCS token from $170k to $500k, and grew the treasury to $530k.
Additionally, when the Sushiswap LP tokens were deposited into the treasury, a large amount of FCS was minted by the Faircastle smart contract system to compensate the reserve depositor. As a result, all newly minted tokens were burned from both the deployer wallet and the team multisig wallet.
Steps Taken
- ETH withdrawn from treasury: https://arbiscan.io/tx/0x6b2208cb0f2b2cb75d500e6434feb2c52c7c05b25ca49998c37cb5f71c89e9a9
- MIM withdrawn from treasury: https://arbiscan.io/tx/0x6329901bf322f85f196a88675aa7aa5a8363d5c65791a689a20ded43a47eb2b5
- FCS withdrawn from DAO multisig: https://arbiscan.io/tx/0x2d070303292457b8105179deaf054556531f3584ae0800cc6cfe3b003b79e285
- FCS withdrawn from Team multisig: https://arbiscan.io/tx/0x2d070303292457b8105179deaf054556531f3584ae0800cc6cfe3b003b79e285
- $120k liquidity added to Sushi pool: https://arbiscan.io/tx/0xfa12100b70d2072a287112d5edf52fc7b274392ab72d0a88d50c4fcc899e2fd4
- All LP tokens added to treasury: https://arbiscan.io/tx/0x5f6d871f9f1e08577ab5dde15175569777a9a6a53d65f2ab549e4f84062936eb
- 31k FCS tokens burned: https://arbiscan.io/tx/0x9bcad98dd087dcdfd230ea4a00f21231fc7d956863afda0877d101e4c6b181a7
- 3.1k FCS team tokens burned: https://arbiscan.io/tx/0x692536bf9cf75ea0feada40a44065424348be3ea53d0c086b79b2a45c9ab3718
This extraordinary maneuver created an extremely unique and attractive scenario. The liquidity pool of the FCS token is now HALF of the token market cap.
This also massively improved the backing price of our token from $30 to $180. What this means is that the current price of the token is extremely undervalued. People should know it is now safe to buy the token at the current market price, since we intentionally increased the backing price to signal the strength of our treasury assets.
Current Goals and Mindset
Our goal at this point in time is to grow the Faircastle realm by offering incentives to new investors. Think of this like a bootstrapping phase, where we make sacrifices and work long hours to build a strong foundation from which we can grow.
The deep liquidity pool will help support price stability as we offer high APY rewards for newcomers. As bond discounts are temporarily lowered, people will be encouraged to buy the FCS token at market prices. This will signal strong growth in the project, which should attract investors who seek to buy and hold for the long term.
Control and Sacrifice
At this point in time, the team has not sold any tokens from the team multisig wallet and has committed to make sacrifices alongside all early Faircastle investors in order to achieve a high level of growth.
As of now, the Faircastle treasury controls 100% of FCS liquidity, thereby removing any possibility of our liquidity being removed from circulation.
