📣 Migration from GLB to GLBD 🔥

📣 It is highly recommended to read these links before proceeding:

👉🏻 Migration from GLB (GLOBAL) to GLBD (GlobalDAO) token

👉🏻 Baby steps towards BeGlobalDAO

👉🏻 2.0 launch

👉🏻 Why we migrate to 2.0

As we have discussed previously, from BeGlobal we realized how important 2.0 could be even before launching our 1.0.

👉🏻 A must-do when migrating to 2.0 is to make sure that no one from 1.0 stays behind. It would be unfair if so. We are talking about investors that trusted us from the beginning. This is why, when switching from 1.0 to 2.0, we included a bailout to GLB. GLBD launches at 20$ and the ratio is fixed at 1:400 with GLB. That means that we need 400 GLB to get a GLBD. Given that GLBD launches at 20$ (and provided that keeps this price or increases), if GLB is below this price, you automatically make money by buying GLB. You will be able to swap it for 0.05$+. Likewise, it doesn’t make sense to sell GLB below 0.05$ now as you would be missing on gains.

How is the ratio between GLB and GLBD going to be pegged

1️⃣ We will have GLB-BUSD LP → GLBD and GLB → GLBD bonds.

The GLB-BUSD bond is completely sustainable in the long run. We can mint 1 GLBD for every BUSD in the treasury. In the example above, we receive 10$ BUSD and we mint 1 GLDB. Hence, we increase our treasury by 9$ free BUSD. This bond will have a discount to incentivize everyone to migrate through this bond. In fact, if you check the APRs of the current 1.0 farms, you will see that most APRs have been going down apart from GLB-BUSD. This is the first incentive to be ready for 2.0.

Bonds will always have the same ratio between GLB and GLBD, guaranteeing that GLB is pegged to GLBD. Assuming a constant value of 20$/GLBD:

As both tokens are pegged/keep the same ratio, you could consider GLB to be the coins and GLBD to be the notes. It’s the same currency but represented by two different tokens.

2️⃣ ️️There will be a swap of GLB-GLBD. It won’t have a big amount of liquidity on purpose. As we discussed, we don’t want to migrate all tokens at once (to maintain GlobalDAO as healthy as possible) but over the course of some months. We do it this way to control the migration rate. The bond assures that the price of GLB should be around the ratio specified. Liquidity of GLB-BUSD and other pairs will drain as it’s bonded because we will be burning GLB. That means there will be a price impact and people will use this swap only when it’s really worth it. This is the reason why a specific GLB-GLBD pool is needed.

👉🏻 A last note before we finish this post. We understand that some people will sell half of their GLB to buy BUSD. However, if the price is lower (than 0.05$ when GLBD is at 20$), remember that you can it and have immediate profit from arbitraging, after bonding the tokens. Should this be the case, we recommend you to buy half of the GLB with the money allocated to this investment, pair it with the remaining BUSD and bond it. This is the way you get max. profit as fast as possible.

Carry on reading about the migration to 2.0:

👉🏻 Why the 2.0 model is sustainable

🚀 Official references and All things about BeGlobal🚀

🌐 Discord: https://discord.gg/ZSHSxTrmar

💬 TG Chat: https://t.me/BeGlobalFinance

📣 News Channel: https://t.me/BeGlobalAnnouncements

🕊️ Twitter: https://twitter.com/Beglobaldefi

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