Marco Manoppo
Marco Manoppo
DAI-0.06%
USDC+0.01%
USDT-0.59%
0/ Some thoughts & numbers on the $XPL token sale
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1/ Fundraising details • Selling 10% of $XPL at $500M FDV • Deposit cap is $250M • $50M deposit cap/person • KYC required (accredited only +12mo vesting for US) • $USDC $USDC $USDS $DAI accepted on ETH mainnet • Veda is the vault infra provider • Vault is locked for at least 40-d following the public sale • All stables are converted to USDT
2/ Earning "units" • Units -> time-weighted share of total vault deposits • Final # units determine your allocation in the $XPL sale • Any unused allocations will be made available for purchase, pro-rata, for others. Keep in mind that deposit cap is different than the % of $XPL being sold. Refer to the model above to guestimate your allocation.
3/ Thoughts • $50M cap is not effective: I don't see the point of doing this instead of just a private round/pre-deposit deals via @turtleclubhouse or @roycoprotocol • Positioning itself as an L1: "Hot recent launches" like Bera only sustained in the $2-3B range, so IMO a $5B valuation at the open is already a pretty bullish scenario. This isn't PumpFun, and there's no metrics yet on payment volume, etc. • @SplitCapital is offering 18% for $5M via @WildcatFi. His cost of capital is $900k/year, which is very good considering that even at a measly $800M-$1B FDV range he'll be up 60-100% + there'll be a lot of OTC and PB infra that can provide hedging
Wazz
Wazz
@PlasmaFDN The community feedback: Justin Sun and 4 of his cousins
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