The DAO is one of the most important and intriguing aspects of the Ascension Protocol. As the protocol and community mature, more and more permissions are going to be handed over to DAO with the end goal of complete decentralization of the protocol. The main function of the DAO as of now is to vote on liquidity pulls and subsequent use of the pulled BNB in one of the existing strategies (developed by the team). The team is working on more and more strategies, so we will be touching up on each existing strategies and begin talking about a few strategies that we have begun working on!
This strategy will allow users to vote for liquidity pulls to be used to buy back ASCEND tokens and then immediately burn the entire amount purchased, reducing the circulating supply and therefore increasing the value of the remaining tokens. The tokens will be sent to the address 0x3333333333333333333333333333333333333333, which means that Ascension Protocol will officially become deflationary as that address will continue to rack up fees from the tax tier system. The first burn token event took place on March 16th, 2021 at Block #5741844 thus signifying the date that Ascension Protocol first became deflationary. Here is a link to this transaction showing what took place: https://bscscan.com/tx/0x8f9d5e550d3c1d7a0f165962b0b48e581115c14909ee55d80fc1c18b45563486 . This took place during v1 therefore tokens are still being burned however those tokens are in the development wallet where contracts were deployed. We will send those tokens including all taxes procured from the whole development fund(bought with team funds) to the burn address shortly and provide an update of that to the community.
This strategy will allow users to vote for liquidity pulls to be used to buy back ASCEND tokens and then immediately airdrop those tokens back to Ascend holders that held at the time of the Ascension strategy passing. The amount of ASCEND will be proportionally split up and sent to addresses based on the amount of ASCEND they held in their wallet at the time of the Ascension event. The first BuyASCENDDistribute strategy took place on March 18th, 2021 at Block #5794530 where 20,529.45 ASCEND was bought and distributed. Here is a link to this transaction showing what took place: https://bscscan.com /tx/0x896dd6519dedc83d6fb7a13f958f4eec1ce11624449f1dd7cf04bd9700567b21
This strategy will allow users to vote for liquidity pulls to be used to buy any token that is listed on Pancakeswap and then allow for users to claim those tokens on the DAO dashboard. The amount of tokens bought will be proportionally split up and sent to addresses based on the amount of Ascend the held in their wallet at the time of the Ascension Event. The first BuyToken strategy took place on April 9th, 2021 at Block #6402094 where 69.25 Pancake tokens were bought to be claimed by ASCEND holders. Here is a link to this transaction showing what took place: https://bscscan.com/tx/0xa6053805cca0b757375db267a095dcbfadb2443bb31e9f7b0b87ada05d556e58
It’s with our great pleasure to announce that we have began working on a set of new strategies that we believe will help bring value to our project not only now but through the bear markets and years to come. We have switched our focus to creating bots that will use the liquidity pulls for funds to create streams of income for our holders risk-free! We have began developing front-run and snipe-listing bots for our community to be able to enjoy the benefits that many whales and developers who trade have. We noticed that it seems to be the rich getting richer that use these types of bots and none of the smaller traders get to seem to have access to expand their portfolios. Most liquidity pulls during Ascension events so far have been 1–3 BNB so we believe that the use of the these bots with that amount of liquidity will generate solid income for our holders while not having to much negative effects on the market. We are still ironing out the final functionality of the bots and are looking to the community to suggest ways for the bot to function that’s most beneficial to them. Therefore, please join our telegram at T.me/AscensionProtocolChat if you have any suggestions or questions. Once these bots are finished, we will move on to more strategies and are looking forward to seeing how they play out to bring benefits to those who hold ASCEND.