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Launch

In our quest for a more equitable ecosystem, the launch model was a particular point of discussion, as none of the usual models seemed satisfying enough.
On one hand, most presales result in a select few being able to take advantage of lower prices than at launch, thus encouraging immediate speculation, rather than a healthier, fairer and longer-term investment in the project.
On the other hand, a classic fairlaunch usually results in a general battle of bots, and a completely unreasonable and not desirable price spike.
Our goal has been to create an alternative to these two models, through a single public sale that guarantees everyone the equal opportunity to participate in Excalibur launch, thus excluding any private sales and privileged distribution of tokens, including for the team.

Fairlaunch (March 5th - 8th)

One of the specificities of our fairlaunch model is that it goes through a public sale with no fixed selling price for EXC.
1,000,000 of EXC will be pre-minted prior to the sale, and no matter the amount of money raised during the event, every single one of those EXC will be distributed to the investors.
Every participant will receive after the public sale unlocked EXC-FTM LP tokens that are equivalent in value to their investment.
No GRAIL will be pre-minted.

How to participate

There isn't any whitelisting process, absolutely anyone can participate to the sale.
No global cap will be set, but a maximum of 560 FTM will be allocated for every address, excluding launchpads and partners.

Referrals

Two separate referral systems will be set:
  • Every user will be able to publicly share a referral link, and claim after the launch 3% of all of the referred investments that have been made through it, directly in FTM
  • Launchpads will receive a 5% commission for all funds raised from the whitelisted wallets they contribute. They will receive their compensation in the form of EXC-FTM LP tokens, for which we have decided on a 30-day locking agreement

Distribution

  • 50% of the collected amount will be paired with the 1,000,000 pre-minted EXC in order to form the distributed EXC-FTM LP tokens
  • the referral earnings will be allocated, coming from the remaining 50%
  • every remaining FTM will be directly sent to the GRAIL dividends contract, and will start being distributed a few hours after the farming begins
In other words, 100% of the collected amount is directly redistributed into the ecosystem, with the exception of the referral commissions. The team won't receive anything from the public sale, and will have to directly invest like any other participant.

Phases overview

Examples

If you have troubles to understand exactly how the EXC pricing will work, here are two concrete examples:

Example #1

$800,000 worth of FTM have been raised:
  • $400,000 (minus the referral commissions) will be directly sent to the $GRAIL dividends contract, in order to be distributed to the shareholders
  • $400,000 will be used to form LP tokens with the 1,000,000 EXC
The EXC price will hence be 400,000/ 1,000,000 = $0.40
If a participant invested $500, he will then get a LP worth of $250 of FTM and $250 of EXC (so 250/0.40= 625 EXC).

Example #2

$2,400,000 worth of FTM have been raised:
  • $1,200,000 (minus the referral commissions) will be directly sent to the $GRAIL dividends contract, in order to be distributed to the shareholders
  • $1,200,000 will be used to form LP tokens with the 1,000,000 EXC
The EXC price will hence be 1,200,000/ 1,000,000 = $1.20
If a participant invested $500, he will then get a LP with $250 of FTM and $250 of EXC (so 250/1.20 ~= 208 EXC).
In both examples, the user will receive different amounts of EXC, but the LP tokens will always have exactly the same value as what he invested in the sale.

Contract

Failsafe multisig

We decided to implement an emergency withdraw function in our presale contract to give us the possibility to unlock the public sale deposits in case of an unforeseen event were to happen.
Because of evident security concerns, we chose to delegate its exclusive ownership to a multisig that will mainly be controlled by our doxxed and well-known launch partners and a member of our team.
At least 3/4 of those individuals will have to validate any transaction:
Last modified 8mo ago