Over the past few days, we (the team), along with the community, have been debating which mechanism to have in place for a successful and relatively fair launch and we have finally come to a conclusion.
Before diving into any further details, here is a link to the article that outlines the various mechanisms we are considering:
Below I will highlight the possible options stated in the above article:
- We will make the Discord read-only for the launch period time. Each Raid will have a separate channel where they will receive confirmation that the Akame website is live and details to the relevant contracts. The first 3 raids will happen before token liquidity is added and will be open for bonding only. The website and contract info will be broadcast to the next raid after three minutes so time is of the essence.
- Each raid member whitelists their address and will have the chance to purchase a fixed number of (MIM bonds) at a fixed discount. This discount will decrease from Raid #1 — Raid #3. Again this will happen before token liquidity is added. Immediately after the raid is over, liquidity will be added and the token will be tradeable on the market, staking will be opened and the other bonds (Native Token-MIM LP and WETH) will be made available.
- Lastly, we could follow in the footsteps of Olympus DAOs “Initial Discord Offering” where each whitelisted member gets a whitelist allocation and can buy a fixed amount of the native token at a certain price. This price will increase from Raid #1 — Raid #3. After the sale period closes, tokens will be transferred and the funds raised will be used to bootstrap liquidity gradually and a percentage will also be added to the treasury to support the backing of the initial supply. After liquidity is added, bonding and staking will be initiated.
After a lot of internal deliberation and all the opinions, ideas, and insights from the community — we have decided to implement a modified version of launch mechanism #3.
The Akame Launch will play out as follows:
- The 999 whitelisted participants will have the opportunity to purchase $pAKA (Presale $AKA) over a period of 3 days. $pAKA will NOT be tradeable.
- At launch/TGE (token generation event), $pAKA will be exchangeable for an equal share of $AKA and you will be able to use it however you wish (stake it, sell it, hold it, burn it, jerk off to it — the options are limitless).
As you know we have been conducting a whitelist that consists of three Raids of 333 participants per Raid. These Raids all have different perks/incentives tied to them in relation to the Akame DAO launch. Let us go into the details.
As stated above, $pAKA will be available for purchase pre-launch and at launch, it will be possible to exchange it for $AKA. Each Raid will have different capped allocations i.e each raid participant will have a capped max amount of $pAKA that they may purchase.
Along with the different allocation caps, each Raid will buy $pAKA at different prices, discounted from the initial price of $AKA.
The $pAKA sale will happen at separate times for each Raid. All raids will have 12 hours to purchase up to their max allocation worth of $pAKA. The Akame Alpha launch (i.e when participants can unlock tokens and stake/bond on the platform) will happen within 24 hours of the last raid so to put it simply — Akame will launch on Monday 6th December with full functionality.
Raid I
When: 13:00 UTC Friday, Dec 3rd — 01:00 UTC Saturday, Dec 4th
Participants: 333
Max Allocation: 4,500 MIM
$pAKA Price: 30% of $AKA Initial Price
Vesting Schedule: 30% Unlock at TGE, 21-day drip vesting
Raid II
When: 13:00 UTC Saturday, Dec 4th — 01:00 UTC Sunday, Dec 5th
Participants: 333
Max Allocation: 3,000 MIM
$pAKA Price: 45% of $AKA Initial Price
Vesting Schedule: 30% Unlock at TGE, 21-day drip vesting
Raid III
When: 13:00 UTC Sunday, Dec 5th — 01:00 UTC Monday, Dec 6th
Participants: 333
Max Allocation: 1,800 MIM
$pAKA Price: 60% of $AKA Initial Price
Vesting Schedule: 30% Unlock at TGE, 21-day drip vesting
How will “Pre-Sale” Funds be used?
The funds raised in the pre-sale will be split between the Akame treasury and $AKA-MIM Liquidity.
A percentage of the funds raised will immediately be added to $AKA-MIM liquidity pool and the Akame Treasury at launch to support initial backing. The remainder will be added to liquidity gradually over a fixed number of epochs. This is to allow for a more organic way of price discovery.
Tokenomics
More details on the $AKA tokenomics will be released before the beginning of the first raid.
Disclaimer
Always do your due diligence before investing in new projects. Always remember that any outcome good or bad is your responsibility. That said, here at Akame, we will focus on building a community founded on trust and transparency.
Keep up to date with all things Akame DAO by following our Twitter and joining our discord server.
Akame DAO Twitter: https://twitter.com/akamedao_io
Akame DAO Discord: https://discord.gg/akamedao
