Fair Launch
Savvy is built on the principles of fair and equitable access. To uphold this value, Savvy will be launching through a Fair Launch event, where tokens are fairly distributed to all participants without any private pre-sales. Savvy strives to bootstrap liquidity for the Savvy protocol while reducing the risk of manipulation. The launch celebrates the web3 community by rewarding redlisted NFT holders. We believe everyone should have the same opportunity to participate in our fair launch instead of a privileged few.
The two-week launch consists of a two-step process with a Liquidity Generation Event (LGE) and a Liquidity Bootstrapping Pool (LBP). Out of the total 10M SVY supply, 21.50% or 2.15M tokens will be distributed through the Fair Launch.
This is the first opportunity for participants to get involved with Savvy. Our unique LGE allows long-term supporters to vest between 3 months and 6 years, where participants receive an exponentially larger boost for selecting longer vests. Additionally, the web3 community is rewarded for owning redlisted NFTs, and early depositors get a higher boost. The LGE distributes 15.5% (1.55M) SVY tokens across the total set of vesting schedules.
The LBP aims for better token distribution and price discovery in the second phase. It is a math-weighted pool where the weights dynamically change (e.g., 1/99 to 99/1 for TokenA/TokenB). In the initial launch of the LBP, there will be more SVY tokens than collateral tokens in the pool. As the pool progresses, the proportion of collateral tokens to project tokens in the pool changes to balance out the percentage of each token. This approach rewards those who provide liquidity or distribute a portion of the new token to liquidity providers. The LBP comprises 6% (0.6M) SVY tokens and has no vest, meaning participants can claim their SVY tokens immediately.
Last modified 15d ago