Dear Lucidao community,
I’m writing the following in order to clarify the recent price volatility of the LCD token.
When the first liquidity pool was added, it was decided to tie the LCD token to FTM in order to favor a better trading experience.
To date, LCD remains exclusively pegged to FTM = there are no other liquidity pools other than LCD/WFTM.
This implies that the price of LCD, not being pegged to a stable currency, in addition to reflecting the result of trading, mainly reflects the price fluctuation of FTM.
As you can see from the graphs below LCD value has been dragged by FTM behavior:
FANTOM PRICE
LUCIDAO PRICE
We are now working together with SpookySwap team in order to provide new liquidity pools that, as weel as to favor a better trading experience by bringing more liquidity, will peg LCD to stable coins such as:
fUSDT/LCD
USDC/LCD
Thank you for your continued trust.
defidax
Good job LUCIDAO team!