FAQs

How Does FIRA earn revenue?

While trading results are important they play a much smaller role in generating returns than the volume traded in combination with the resulting referral fees earned from the exchange. For every trade the protocol makes, fees are paid to the exchange. Because of the significant volume that FIRA trades, FIRA in return receives a large rebate of these fees.

Why does the exchange do this? Simple really, one of their key metrics is volume and so they incentivise the big players to put as much volume through the books as possible, this makes them look good and gives the whale traders a significant advantage over everyone else. This is the edge.

Additionally, FIRA can increase the fee rebate substantially if their referrals actively trade and swap on Level.Finance

This is why it is so important for all FIRA members to sign up to level.finance using the FIRA referral by following these instructions and entering either of the following wallet addresses 0x31e015e65b5FB16b8F3f415a435DA19aF5B3EFd4 or 0xC5Cb6F04A74A1EBAc5745cEF8512afDBe45BC702

https://docs.google.com/document/d/1XHTDdN93ie9pH6dn1gOKeOyUDiIL1AS5lpMt8t08GvA/edit?usp=sharing

FIRA members are encouraged to actively use the Level Swap and if they themselves trade, to use the trading portal. This helps generate more rewards for all of us.

The trading strategy itself is profitable long term. It tends to make many small wins and losses (volume generating) and will periodically catch a huge win that really boosts the protocol earnings.

So, long story short, it’s not as black and white as simple trading profit and loss and you shouldn’t be alarmed if you see periods of losses on the exchange, FIRA is still making money!

How does the 6 month lock work?

From your first deposit, you will be unable to withdraw your principle* for a period of 6 months. Subsequent deposits (including compounded rewards) will also be locked but will not extend your lock period, i.e. everything unlocks after your first 6 months. Once the 6 month lock period has matured, there is a 48 hour delay on withdrawal requests. These measures are in place to hep ensure that FIRA trading and investments are not negatively impacted by user withdrawals. *Your daily rewards are withdrawable immediately

How frequently and at what time are rewards distributed?

Rewards are distributed daily at 10pm EST.

What are the expected rewards?

The aim is to provide a daily return of between 0.5% and 0.8%. There will be days that fall outside of these but that is the expected average. FIRA is set up to reward those with a longer term mindset which will be achieved through our longer term capital investments.

Can I invite others into FIRA

Our goal with FIRA is to keep this a close knit community of trusted investors. Invite links will be released to the community gradually. FIRA reserves the right to place a cap on the total number of investors and/or the total amount of capital in the Asset Fund.