Exciting news! Things are moving fast!
Plans are changing, revolutionary protocols are emerging, we are evolving!
After the cancelation of our presale, we went back to the drawing board.
We looked around and got inspired by other crypto projects and we decided to better our plans, to make them fair(er) and more transparent.
Here is an overview of what’s to come in the next months :
A Fair(er) Launch : NFT Public Fundraiser
No more “presale”, no more “seed” or “private” sale, instead we’ll be launching a unique NFT Fundraiser sale, accessible to everybody. This will give all of our early supporters, both small and big, an equal opportunity to support the project at a very early stage and later get rewarded for it.
Wait…so I’m only buying NFTs? No Token?
Not just any kind of NFT. Those NFTs are part of the “Time Zero” limited series.
Time Zero NFTs are, of course, sellable on any NFT marketplace but more importantly Time Zero NFTs can be activated by staking them. When activated they will start receiving daily airdrops of TDAO tokens at a predefined volume until its supply has been exhausted. This below is an example, subject to change at any point prior to the sale itself :
As a bonus, after exhaustion of the supply, the NFTs, marking the historic foundation of the project, will stay in your possession!
Liquidity Bootstrapping Pool & Price Discovery
The objective of a Liquidity Bootstrap Pool is to ensure the project has ample time to distribute its tokens, while securing a healthy treasury for the team. It is also a resilient mechanism designed to ensure a smooth price discovery, with no incentive for whales to profit from a rug-pull or another trading technique that will lead to immediate price volatility.
The pool resembles the usual pairs in liquidity pools, but the ratio of the new token to the DAI dollar-pegged coin is 80:20%. Gradually, the ratio of the token increases until there is 80% DAI in the pool to 20% of the token, reaching the full price discovery.
We will set up a Liquidity Bootstrapping Pool on Balancer and invite everyone to participate. It will then be up to the Community to fix an optimal price for the token. It is the fairest way we know to discover the token price.
You can read more in depth about LBP here
Public sale, POL & liquidity mining
At the end of the LBP phase we will use a percentage of the funds raised in the previous phases to create Liquidity pools on DEXes such as Uniswap and later on, after we develop bridges to Polygon and BSC, QuickSwap and PancakeSwap.
We will then launch a liquidity mining program adhering to the POL pattern.
POL(Protocol Owned Liquidity) is a new concept in DeFi. It has been pioneered By OlympusDAO earlier in 2021 and, in our opinion, is a total game changer as it provides an organic income source to protocols without them having to sell a service.
POL essentially transforms a liability into an income source. Thanks to POL, Protocols no longer need to pay out high incentives to rent liquidity.
How does it work
Instead of staking their LP (liquidity provider) tokens for farming rewards in a pool 2, users can exchange their LP tokens for the protocol’s governance tokens at a discounted rate. This is done through a process called Bonding . As the protocol never sells these LP tokens, the liquidity is effectively locked within its treasury and,more interestingly, starts generating LP fees for the DAO!
We will leverage OlympusDAO’s platform , OlympusPro, to help our protocol acquire its own liquidity.
More info regarding the POL pattern can be found here