🍳Join Tapas Chef Rush - Ended
Chef Rush spearheaded the launch of Tapas, along with its inaugural liquidity pair TAPA/TLOS. The initial phase has ended; Tapas can now only be acquired through the open market.
Visit app.tapas.exchange, and the page will load, presenting seven rectangular boxes that provide a comprehensive overview of the Chef Rush.
Connect your wallet using the MetaMask built-in browser, ensuring that you have selected the correct network: Telos EVM Mainnet.
Network Name: Telos EVM Mainnet
Website: https://www.telos.net/
ChainID: 40
NetworkID: 40
Symbol: TLOS
(a) After connecting your wallet, if you hold FORT or pFORT and wish to maximise TAPA rewards by selecting a specific day for contribution, the system will automatically indicate the required amount of TLOS for that day. Keep in mind that if you choose this option, you'll need to return after the Chef Rush concludes to deposit your FORT or pFORT and claim the boost. For those opting out of the bonus, they'll need to wait until the end of the mint rush to deposit their FORT or pFORT (You have 30 days to do this).
(b) Upon connecting your wallet and in the absence of both FORT and pFORT holdings, if your goal is to contribute TLOS, simply input the desired amount in the 'Buy Tapa' box. You can add as many TLOS as you wish within a 24-hour period to participate in the sharing the pool of up to 3,000,000 TAPA daily.
Upon successful completion of your transaction, you will receive a notification displayed in a green box.
Return the following day to view your allocation in the "My Stakes" section.
Please note that users contributing in TLOS, FORT, or pFORT will undergo a 180-days lock period, accompanied by an additional 180-days vesting period, strategically implemented to uphold a controlled price floor. During this time, your TAPA will be staked, enabling you to generate TLOS rewards from DEX fees with an 8x Boost.
Following the pool closure, we will unveil the TAPA/TLOS ratio alongside its corresponding price.
On the 21st day, the Tapas DEX will inaugurate its initial pool featuring TAPA/TLOS, with many more on its way!
Chef Rush Mechanics
The Chef Rush is strategically designed to secure value for early contributors, offering various strategies to maximise your TAPA allocation. Here's how the mechanics operate: On the first day, the TAPA-TLOS ratio is determined by the amount of TLOS deposited. Subsequently, if the TLOS raised falls below the previous day's amount, the ratio remains unchanged, and not all 3,000,000 TAPA will be released. Conversely, if the TLOS raised surpasses the previous ratio, a new ratio is established, and the entire pool of 3,000,000 TAPA is released.
At the conclusion of the 20-day period, the total contribution from each user is calculated. For those holding FORT, if 80% of the value is contributed in TLOS, the additional FORT will be included as a bonus in your allocation. You have a 30-day window from the Chef Rush's final day to convert your FORT to TAPA. Should you choose not to contribute, your TAPA conversion will be at the ratio of the Chef Rush's last day.
If you decide not to optimise your TAPA rewards with FORT or pFORT, you can convert them at market price on the day the pool opens. You have a 30-day period to exchange your FORT or pFORT (prior to participating in the Chef Rush with TLOS; the system will display the required TLOS for the boost), either to earn an enhanced reward or simply to exchange.
Chef Rush Dates: March 1 - March 24.
FORT/pFORT Conversion Dates: March 26 - April 25.
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