We’re very closed to the Balancer team and their product is battle-tested and well-regarded in the community.
The sale will be 3 days long and be designed to prevent front-running. It will start at a high price then go down quickly as the weights of the pool change. This prevents people from front-running other participants.
Hi there! May be you can consider to use trustswap, because of the very good and hyped platform. Be one of the first using the platform will engage many new investors to the project.
I’d like to point out multiple issues with various exchanges I’ve seen so that you might ultimately settle on some platform or just a cocktail of different platforms.
1). Selling by directly sending eth to the contract, I’ve been through multiple pre-sales like this, and I’ve seen that when the time hits many more people than expected just blindly end up sending money, and this just created a lot of noise in the process.
2). Today, I had an experience of trying to do a mesa auction, for a coin called $credit and it says to just offers bids which will be filled, someone put in a bid for 200eth per credit, and although it mightve been a prank someone lost money. The mesa platform doesn’t handle the auction very well.
3). Directly listing on some exchange, the lottery process on exchanges makes it biased towards favouring whales instead of common investors.
I don’t have a clear answer/solution towards this. But to make it fair, I think everyone should have an opportunity to buy this coin. You could either opt for a transparent lottery process, or you could keep a minimum and maximum commitment for a wide variety of investors, for example 0.1-5eth and a maximum of let’s say 1000eth which allows accommodating from 2000 to 10k people. You could sell this in blocks so that more people get in.
The thing is sales are important because that’s your first impression on the public market and when they go bad even for a small amount of investors, it just brings unnecessary bad faith which can be avoided easily.
Hi, I found my way just recently to your project. Not sure I fully understand everything yet.
But this discussion about how to distribute tokens got me thinking.
Maybe there is something to learn from how xio.network has done their distribution last year. The really interesting thing is that they gave away all their tokens for free. Today the project has a marketcap of over 11 MM and has reached 2.8 MM in liquidity on uniswap. That’s quite impressive. The main point is having the community set up the liquidity by incentivising long term holding even against impermanent loss.
For anyone interested here’s an in depth article on how it was done. It’s from May 2020. Things are moving quickly with XIO these days but since it’s on its history, that hasn’t changed.
I recommend a lower percentage should be allocated to strategic investors. As we can see with YFI distribution event, the fairer distribution the better for the protocol. You want the public to hold as much tokens as possible, especially if you are allowing strategic investors to take advantage of the inflationary rewards - that would skew the rewards heavily in favor of the strategic investors.
I would recommend 6-8% for strategic investors and an option to buy any of the unsold token at a 30% discount from the auction. This will ensure the team to have the capital to run the project. The discount would be a nice bonus for strategic investors.
Are there any lockups on the strategic investor? They should be locked up given that they have a lot of the supply and lower price (presumably) than public sale.
Seed investor has been around for 2 years. No lock up on them would be ok.
Thanks for the feedback. We have liquidity mining rewards. If the strategic investors want to bring in liquidity, they can look at our program here: Liquidity mining rewards
Good idea to increase initial supply for best price discovery.
But you should try old fashioned sale types like smart contract Dutch auction (Raiden, Fusion) or auction like Metronome which is like Mesa but more transparent and cost efficiency for buyers.
Here’s an article outlining the benefits of doing an IDO on Mesa. DeFi Money Market and mStable had very successful auctions. Let me know if you have questions.
After gathering feedback from the community, we want to make some updates to the proposal. Before going into the details, let me start with our goal of this Token Distribution Event(TDE):
Reward community members who will likely be participating in future governance and using our platform.
Have a better price discovery mechanism during the TDE.
The TDE has to be permissionless and scalable.
The proceeds from the TDE will be stored in a vault for future DAO and providing liquidity to PERP.
We’re very closed to the Balancer team and their product is battle-tested and well-regarded in the community.
The sale will be 3 days long and be designed to prevent front-running. It will start at a high price then go down quickly as the weights of the pool change. The initial high price prevents people from front-running other participants.
We also want to revert the previous proposal and reset the public sale % back to 5% of the initial supply. We got concerns from the community that the initial float is too large for a project. This could risk PERP’s chances of getting listed on CEXs. We want to keep this flexible.
Thanks for the feedback from all of you. Please let us know if you have any feedback about this.
The only thing I’m afraid of given this is that, your pools will dry up quickly. In a project as good as this and the investor attention you’ll get, 5 million PERPs will quickly get sold (and I’m afraid and also sort of sure that larger investors don’t care about minute price differences) and will just buy bulks at large, I’d suggest having a cap on what each wallet can buy but again in the decentralised space that just amounts to buying from multiple wallets.
This is probably why IEOs, whitelists and centralized sales involving kyc are more successful because you can actually cap the number of tokens sold per investor and kyc also shows a certain amount of commitment even though frowned upon.
Thanks for your feedback. This has been brought up several time by the community and we will think more about this. The only possible easy solution is whitelisting, but how to price that round always makes me confused.
