IDO is an Initial DeFi Offering contract for listing FEI and TRIBE at genesis launch.
The IDO is deployed by the GenesisGroup contract. The GenesisGroup sets the initial exchange rate. The IDO should hold TRIBE tokens and mint the appropriate amount of FEI to match the given exchange rate. It will then send the TRIBE and FEI to Uniswap where it should be the only LP for the pair.
The LP shares held by the contract timelock linearly to the Fei Core Team and early-backers over a 4 year window from contract creation.
Because of slippage, when a Uniswap transaction occurs the next spot price is always higher than the price payed by the trader.
For example, assume there are 100 FEI and 100 USDC in a pool. A trader sends 100 USDC to the pool to buy FEI and gets 50 FEI back. This is a 2:1 exchange rate. However now the reserves are 200 USDC and 50 FEI, implying a 4:1 spot exchange rate. An arbitrageur could estimate the true price is around 2:1 and back-run the trade to profit on the slippage.
The IDO pre-swap will likely have a large amount of slippage and create a massive arbitrage opportunity. For this reason we will "normalize" the price to what the Genesis Group pays (2:1 in the above example). The IDO simply burns from the pool back to the rate payed and then "syncs" the pool using the low level Uniswap utility.
Due to the symmetry in Uniswap trades, the burn amount is always equal to the amount of FEI swapped into the pool for TRIBE.
The IDO initialization with FEI and TRIBE. Only emitted once
the amount of FEI deployed in the IDO
the amount of TRIBE deployed in the IDO
function deploy(Decimal.D256 calldata feiRatio) external;
Initializes the FEI/TRIBE Uniswap pool with liquidity based on the amount of TRIBE held by the contract and
feiRatio times that amount worth of FEI. The FEI for this are minted by the IDO to itself.
function swapFei(uint256 amountFei) external returns (uint256);
amountFei worth of FEI from the GenesisGroup contract to the FEI/TRIBE Uniswap pool and back. The IDO must be approved for the FEI transfer.
Includes the "normalization" burn after the trade executes.
function unlockLiquidity() external;
Unlocks all of the time-locked liquidity and early vests to the beneficiary. This function is intended to be used when upgrading the primary AMM for FEI-TRIBE liquidity by setting the beneficiary to a pre-set upgrade co