Fair-launch FAQ
Q: Why it is called IFO?
A: Because it's a truly fair launch with the features as follows:
NO presale;
NO whitelist;
70% income goes to token holders.
Q: What is DEFED IFO?
A: Initial Fair-launch Offering (IFO) is a part of the DEFE Token distribution. The core value of IFO is fund raising at the initial stage. And 40% of the raised ETH will be used for DEFED's ETH Lending Pool; 10% will be used to provide liquidity at Uniswap; 35% will be used for development and operations and 15% will be used for risk margin.
The rules are as follows:
1,000,000,000 (10%) of the DEFE token will be used for the IFO (Initial Fair Offering):1 ETH = 400,000 DEFE;After the end of IFO, all unsold DEFE will be deposited in DAO Treasury;
Any address has unlimited times participation in the IFO during the term, and participation in IFO requires a minimum of 1 ETH in the address;
DEFE sold during the IFO phase, for single address, the part below 100 ETH will be released directly after the sale, the part above 500 ETH will be locked for 52 weeks and released after the expiration. During the lock-up period, users enjoy all the benefits of veDEFE.
Q: What can I do with the DEFE token?
A: DEFE is a governance token and a utility token. For receiving both governance and utility benefits , DEFE must be staked for a period of time and converted to veDEFE.
Governance Right
DAO members who holding veDEFEs are entitled to participate in all governance proposals in the DEFEDAO. Through the smart contract, each veDEFE will be entitled to a voting ticket, which make the veDEFE holder to express his/her opinion on the future development of DEFED.
For example, veDEFE holders will be able to vote and make decisions on adjustments to the Gaugeweight values of Lending/Borrowing Mining Rewards each reward cycle, what assets can be selected for the DEFED Protocol's list of deposit and borrowing assets, how to use the funds in the DAO Treasury etc.
With the DEFED Protocol growing, we believe that community will seek more rational governance scenario that is beneficial to the development of ecosystem and increases the risk resistance of the Protocol.
Share Protocol Income
DEFE stakers (veDEFE holders) share 70% of the protocol income.
Q: Who can participate in IFO?
A: Anyone has unlimited times participation in the IFO during the term, and participation in IFO requires a minimum of 1 ETH in the address;
Q: How many DEFE can I purchase?
A: No ETH allocation limit for each participant.
Q: Any lockup?
A: No. You will get DEFE directly, after the purchase is completed.
Q: What will I get if I participate in the IFO then?
A: In most cases, you will get DEFE directly, without any limit, unless you exceed the 500 ETH limit.
Q: How many veDEFE will I receive?
A: The amount of veDEFE you will get, depends on the amount of DEFE you staked and the period of the staking.
For example, if you stake 10,000 DEFE for 105 weeks, you will receive 10000 * ( 105/209 ) = 5023.92 veDEFE.
The formulas and parameters are as follows:
Parameter
Description
weight
amount of DEFE
locktime
max locktime, 4 years
remaining locktime
Last updated