Community Offering and Tokenomics Update: A Closer Look

  • Discord List
  • Community Offering
  • Fair Launch
  • Launch Date
  • Tokenomics
  • Use of Proceeds
  • Security, and more

The Problem With Current Launch Models

Stealth LP Pools (Common for OHM Forks)

Whitelists

Pre-Sales

Rugpulls

A Better Launch Model

Community Offering (December 7th, 5:00pm UTC)

  • 2M tokens for sale (20% of initial total supply)
  • Sold at a fixed price of $0.80 per token
  • Max contribution of $500 per person, which increases to $4,000 over the course of an hour
  • Only available to those on the Discord List (see “How can I get on the Discord List?”)
  • Proceeds used to propel near-term growth: top tier audits, marketing budget, and $ to bring on additional top-tier blockchain developers

Fair Launch (December 27th, 5:00pm UTC)

  • 4.0M tokens for sale (40% of initial total supply)
  • Price is dynamically determined by amount contributed — more details to come in the coming days / weeks via a separate Medium article. We have a lot of unique ideas for how to structure this launch and are firming up the details
  • ~45 hour launch
  • Max contribution of $50,000 per person
  • Available to anyone who wants to participate
  • All proceeds go to our treasury — allowing us to launch with a substantial treasury and a low market cap / treasury ratio to begin with

Protocol Launch (December 29th, 5:00pm UTC)

  • Protocol will launch ~3 hours after the fair launch is completed
  • The proceeds from the fair launch will go directly to our treasury
  • We will then add liquidity to Trader Joe and launch the protocol, allowing staking and bonding

Key Questions

Why are you doing two rounds?

Other OHM forks have been launching quickly, why is it taking you so long?

  • Peer review — we are actively getting our code peer reviewed to ensure safety
  • Audits — we want to make sure our code is thoroughly audited by the best auditors before launching
  • Multi-sig — everything done by our protocol will involve multi-sig contracts. No native multi-sig UI exists on Avalanche so it takes time to build out these mechanisms
  • Parameters — most forks launch quickly and use the same code as OHM or TIME without understanding how to properly adjust bonding mechanics. These parameters are absolutely critical to ensuring the protocol’s health, and to prevent pump and dump price action
  • Launch — we are building our own launch contracts and developing novel launch mechanics from scratch for both our Community Offering and fair launch
  • Tokenomics — we have taken extensive community feedback to ensure our tokenomics are fair and sustainable for both our tokenholders and team in the short and long term
  • Innovation — we don’t just want to launch a simple OHM fork as we don’t see any value in that. We are building unique features into the protocol which take time

Community Offering — Important Things to Know

How can I get on the Discord List?

When is the Community Offering?

What is aMAG?

How much can I contribute?

Am I guaranteed an allocation?

Which stablecoin do I contribute with?

How many tokens are for sale?

How much is each token?

How is it structured?

Why did you structure it this way?

  1. Sell out the launch
  2. Allow for as many participants as possible

Use of Proceeds and Tokenomics

What will you use the proceeds from the Community Offering for?

Tokenomics

SCAM Alert

Disclaimer:

--

--

--

Revolutionizing early-stage investing. https://magnetdao.finance

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

OldGods Remastered — the condensed version

Hashbon Farming: Let’s Make a Fabulous Harvest Season!

Raregram is the First Social Cross Platform NFT & DeFi Ecosytem.

Top 5 IDO Launchpad Development Companies

AMA Jul 20th, 2021 | Bull Crypto x Trava Finance

The Comprehensive Guide To Buying Ethereum, Cryptocurrencies, and ICOs

Introduction to BZNX, Bizonex native token

The Future of Finance in the Blockchain age…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Magnet DAO

Magnet DAO

Revolutionizing early-stage investing. https://magnetdao.finance

More from Medium

Incubation Transparency Report

Introducing Odos

Agricultural CeDeFi: Dimitra Lending and Insurance Platform

94,000 Bitcoin Enters Circulation