Introducing 0xACID

Non-grant related Proposals
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Greetings everyone,

We are excited to introduce you to 0xACID, a revolutionary protocol that aims to maximize returns on LSD assets while prioritizing asset security. Our team is backed by Toxin Lab, the incubator behind the successful MetaversePRO project, which reached a market value of 150 million dollars and held over 40 million dollars in assets.

At 0xACID, we believe in providing the highest possible returns to our users and returning 100% of profits to our token holders. Our protocol-controlled liquidity mechanism (PCL) brings significant liquidity to the market, and our lending module allows users to pledge ACID and borrow WstETH, with the interest generated being allocated entirely to ACID stakers.

Holding ACID allows investors to benefit from the appreciation of ETH and related assets, as ACID’s underlying assets are primarily composed of ETH-related assets. Staking ACID allows users to earn high esACID returns, with staking rewards mechanisms generating 10% to 30% ETH APR compared to the typical 4% APR generated by LSD assets.

We are excited to announce that our token sale is scheduled for March 3rd, lasting 24 hours and divided into two 12-hour fundraising activities. The first activity will be hosted on the Arbitrum network, with a 2-hour whitelist round followed by 10 hours open to all. The second activity will be hosted on Ethereum and open to everyone for the full 12 hours. The fundraising operates on a first-come-first-served basis, with a soft cap of 2500 ETH and a hard cap of 5000 ETH for both networks combined.

We are eager to explore potential partnerships and collaborations. If you’re interested in learning more about 0xACID, please feel free to reach out to us on Discord or Telegram. We can’t wait to see what we can achieve together.

Best regards,
The 0xACID Protocol Team
https://0xacid.com/

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No whitepaper on your website, no docs.
The website registered 15 days ago.
Twitter since Nov 2022.
TG group since Feb 12, 2022

No explanation of how you guys generate 10% to 30% ETH APR? :smiley:

Who stands behind the project? Are any real humans?

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image782Ă—615 19.7 KB

Conclusion - SCAM

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Sorry! We are new project but definitely not scam. The Document is not yet finalize, so haven’t deploy on the website
Here is the link for doc

About the 10% ~30% yield
LSD assets can generate a base 5% apr Then we increase the return to around 10% through revolving lending and defi strategies, we can also generate income through lp and lending.

Assuming that only 50% of the people lock in their $acid positions, those who do not lock in their positions and only stake will not receive eth dividends but only $esacid

Then the eth apr is distributed to 50% of the people at 10% eth apr eth apr will increase to 20%

If more people lock their positions, then the price of $acid will go up because the liquidity is very low, and $esAcid converts to $acid for a higher return.

If there are fewer people in lockups, the eth apr distributed to those in lockups will be higher than 20%.

Sorry again for making you confused!

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hey mate,

thanks a lot for your post !

I do not fully understand how can you offer 10 to 30% APR on their ETH to holders. I am guessing it is based on ACID inflationary rewards but… how does your protocol generate revenue?

We are more than open to integrate or partner with other LSD actors in the space, but we need to understand the value proposition well first.

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We have updated our FAQ about the doc, hope it can answer your question!