Thread by @FishMarketAcad

Astroport Phase 2 has started! Start locking your ASTRO and/or UST in the ASTRO-UST bootstrapping pool with @astroport_fi.

Here's a thread to get you familiar what's happening!

🧵👇🏻🚀

Before we dive in, let's recap on what happened prior to Phase 2:

Firstly, in order to receive ASTRO you must have participated in the previous phases of the prelaunch.

Phase 0:
ASTRO will be airdropped to previous participants in major TeFi protocols. You can now verify your eligibility at lockdrop.astroport.fi/active-phase.

Phase 1:
Terraswap LPs were given the opportunity to migrate liquidity to Astroport from 14/12/21 to 21/12/21. Everyone who did should already receive a one-time ASTRO reward as of today.

Now that you have the context, let's dive in to Phase 2!

Enter,

Phase 2:
We are currently in the price discovery phase of ASTRO.

The price will be determined by its ratio and how much ASTRO and UST users add to the pool.

(Eg. 1000 ASTRO and 1000 UST = 1 UST per ASTRO).

The value of ASTRO will be 100% decided by its users.

Lock your ASTRO and/or UST in the ASTRO-UST pool to earn the following incentives:

1. An additional one-time reward in ASTRO tokens, which will be transferable upon launch (28/12/21).

2. Ongoing pool fees from the ASTRO-UST pool after launch.

3. Ongoing ASTRO pool incentives.

With the launch of Phase 2, here's the timeline summary of what to expect:

Day 1-5 (21/12 - 25/12 Saturday):
ASTRO and UST deposits are only possible during the first 5 days with access to 100% withdrawal of your UST.

Day 6 (26/12 Sunday):
Deposits are closed on the 26th with access to ONLY 50% withdrawal of your UST.

Day 7 (27/12 Monday):
The final day. The maximum withdrawal amount decreases linearly starting from 50% to 0% as Phase 2 comes to an end.

10 million ASTRO tokens will be distributed to LPs who commit ASTRO and/or UST to the pool.

Your ASTRO allocation will be determined by how much of the pool you own at the end of Phase 2.

Note: There is no advantage to being the first person to deposit into the pool.

Any deposit will get converted into ASTRO-UST LP tokens.

If you deposit only one asset, it will be converted to a 50/50 share of the pool when it closes.

This means you will receive a combination of ASTRO and UST upon redemption.

All liquidity provided to the ASTRO-UST pool will unlock linearly over 3 months (28/03/22).

You can always see the current price expectation for ASTRO at lockdrop.astroport.fi/active-phase.

Astroport launches at the end of Phase 2. Any unlocked ASTRO tokens will be fully transferable.

You still have time to decide the price of ASTRO tokens.

With Astroport becoming one of the largest TVL black holes in Terra, ASTRO could potentially be very valuable.

So lock your ASTRO/UST now and earn rewards before Phase 2 ends.

astroport.fi

Wondering what's a fair price for the ASTRO token based on my valuation analysis? Stay tuned and follow me while I release my findings tomorrow!