The xPefi Nest will undergo a huge migration process and overhaul this week.
We’ve been getting a lot of positive feedback, and it seems everyone’s happy with the new UI updates to the xPEFI Nest!
So we’re getting rid of it, and upgrading to a new contract.
Sometimes you gotta fight cool with cold.
But fear not! The old xPEFI Nest is nothing in comparison. No; what you need — my dear penguin, is the brand new iPEFI!
It looks and feels cooler.
Reworked. Remastered. The next evolution of Avalanche staking contracts!
Hot enough to melt beaks, cold enough to grow for weeks.
Here’s what you’ve got to look forward to:
Ice Cold iPEFI Holder Benefits
As with every “Steve Jobs era” Apple upgrade, the new iPEFI is delivering innovation. With it, a whole host of benefits for our new token holders.
The perfect source of envy! Let me break it down for you:
New Reward Mechanism
Brand new, reworked, profit distribution.
Here’s the deal: We’re keeping the paper hands penalty, with a twist.
Unlike its predecessor, the new iPEFI token will distribute PEFI collected from the Paper Hands Penalty directly to the iPEFI Nest. This means that whenever there’s a withdrawal, ALL iPEFI tokens become more valuable.
PEFI collected from paper-handed polar bears, now go to every penguin staked in the iPEFI Nest. This means more profit for diamond-handed penguins.
The new Paper Hands Penalty will be fixed at 6%, 100% of which will be directly distributed amongst iPEFI holders. The new Paper Hands Penalty will go into effect 48 hours after iPEFI’s release.
Profit tracking. Quantification. You’ll be getting complete insights on the following metrics:
1. Your deposit value (over time)
2. Your withdrawal value (over time)
3. Your total profit. (you got it, over time.)
Think about it.
You’re dealing with numbers, all day long. Decimal points, high frequencies. Bang, bang, bang.
On-chain voting. Decentralization. The new iPEFI makes it so you, the Penguins, manage the core functionalities. All through voting. The first steps towards…
The Penguin DAO!
Take a few moments to digest. This isn’t happening overnight. But, it will be here in the coming months. All in line with #AvalancheRush.
Exclusive access to Penguin Launchpad IDOs
By investing in iPEFI, you’re not only investing in the future of Penguin Finance, you’re investing in the future of Avalanche. The hottest projects to come out will do so exclusively on the Penguin Launchpad.
SHERPA was recently distributed through the Launchpad at a price of roughly $0.125 SHERPA for Spacelords. At the current SHERPA price of $5.20, participants are up 34x on their investments in less than 1 month.
FREE Avalanche-native tokens through the Club Penguin
Free, you say? There’s no such thing!?
Oh, but you haven’t heard of the Club Penguin. The hottest project discovery platform on Avalanche. By simply staking your iPEFI, you’ll start earning tokens from different Avalanche-native projects. We’ll be providing free VSO, SHERPA, SNOB, LYD, and AVAX.
Unveiling the Nest Airdrop 2.0: Free PEFI Tokens for iPEFI holders
In order to celebrate the release of iPEFI and its incredible new features, an airdrop will occur within 12 days of iPEFI’s release. This will largely incentivize migration so that we can start distributing rewards to the new Nest as soon as possible.
The date of the new iPEFI Airdrop will not be disclosed prior to it happening. Be sure to migrate your xPEFI to iPEFI ASAP! Don’t wait too long, or you might miss out on free PEFI.
What to Expect
1. The xPEFI is being replaced. No more xPEFI. Finito. Nulle.
2. The new iPEFI is coming. Wow, new, fancy. Deposit much PEFI.
Now. We know you’re all “cutting edge technologists”. But there are bird brains among us, Penguins.
We need to get you from point A to point B. Comprende? Perfect.
Exchanging your xPEFI to iPEFI.
During the Migration process (2 weeks), there will be no fee when converting from xPEFI to iPEFI. Once you click “Migrate”, 100% of your xPEFI will be converted to iPEFI automatically and your new tokens will be worth the same amount of PEFI.
We’re making the transition as smooth as possible, so:
There will be two pages during the Migration process.
The old xPEFI Nest Page
You will not be able to stake or unstake from this page any more. You will only be able to Migrate. You must click Migrate, which will move your PEFI from the xPEFI to the iPEFI nest.
The new iPEFI Nest.
The new, improved nest page. This is where your funds will move to post xPEFI migration. You will enjoy the hottest APY, on your favorite token all while receiving access to the Penguin Launchpad, free tokens from the Club Penguin initiatives, and exclusive access to our gaming & gambling dApps.
Will I have the same amount of tokens after migrating?
No. You’ll receive more iPEFI than what you had as xPEFI. For example, if you migrate and had 10 xPEFI, you will receive an estimated 59 iPEFI. They will be worth the exact same amount of PEFI, and your amount of staking tokens will be considerably larger. This is because the new ratio of iPEFI/PEFI is 1 to 1, just like in the early days of xPEFI.
We understand migration is a stressful time. It’s stressful for us too. So hopefully, we’ve made the process a whole lot simpler. Let us know your feelings on the process.
Oh, and one last thing, a penguin always has a trick up its sleeve.
The Lucky Penguin Minigame
You’re going to love this. We’ve built a brand new minigame. And everyone is automatically included.
It’s like a rewards system. For each deposit milestone that you reach, you’ll have the chance to be a Lucky Penguin.
Lucky Penguins win more PEFI! Easy.
Don’t forget to upgrade from xPEFI to iPEFI. It will be here soon.
See you on the moon, Penguins.