The Great Fill + Mainnet Launch
All the details for participating in contributing Protocol Owned Liquidity
The Great Fill (TGF) is coming on Jan 4th to bootstrap the concurrent launch of Fungify Pools. This article will detail everything you need to know to participate. The event opens to the core community on Jan 2nd @ 5:00pm UTC, and will continue until Jan 4th @ 5:00pm UTC, at which point the event will be opened up to the public.
The total amount raised during TGF Phase I will be equal to 1MM USD. The following are the whitelist allocations reserved for the community:
Mycelia: $10,000
Golden Caps: $20,000
The whitelist allocation is capped at $600,000 while the remaining $400,000 is reserved for the public.
Contributions will be made in ETH, and result in the purchase of FUNG tokens at a price of $.045 per FUNG. This represents 2.2% of the total FUNG supply, at a Fully Diluted Valuation of 45MM. These tokens have no lockup and will be immediately tradable when the token is launched, which will take place on February 28th, 2024, alongside the mainnet launch of the Fungify Index.
The proceeds of the sale will be completely dedicated to protocol owned liquidity, being used to supply assets to the Pools lending markets and create liquidity for the ETH-FUNG Uniswap pool.
The public portion of the sale will be available to everyone on a first-come-first-serve basis. Each wallet will have a maximum contribution limit of $10,000. Only wallets with a transaction history which predate this announcement will be eligible for contribution. Any wallets suspected of using sybil tactics will be rejected manually once the sale concludes.
As we approach the date, we will continue releasing audit reports of the protocol:
Hexen Audit #1 (3 week): Read Here
Hexen Audit #2 (2 week): Read Here
Least Authority (3 week): Coming Soon
Zach Obront (3 week): Coming Soon
This event will not be open to US-based individuals.
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