Intriguing IDO launch for MeanFi, will see creative ways for users to become a part of the project.
Mean DAO IDO Readies for Launch
Mean DAO Finance has officially announced that their IDO will take place on December 15th at 13:00 UTC.
The announcement was made official via Mean Finance’s Medium page on December 10th. Comments then underlined the fact that the launch itself would not take a traditional route:
“We are doing something special, new, and exciting, and the community is at the center of it all. It’s a mix of a Mango-style + Fair Auction + Launchpad. We are calling it a Mean Launch,” the team stated in their announcement, underlining the ambition they harbor for the project.
Termed the ‘MEAN Launch,’ a community-first IDO approach will see the team utilize the ‘best parts’ of a launchpad. A Mango-style contract and an LBP fair auction will see the team try and make the launch as fair as possible.
The 48-hour event will take place here and looks to maximize transparency, price discovery, participation and fair distribution. The project explains that this will be achieved through utilizing money streams and game theory which will help promote community incentive alignment.
“Up to 10,000,000 (4.76%) of MEAN’s total supply of 210,000,000 will be set aside for the event. 10% of the IDO proceeds will go to provide liquidity on the market after the IDO ends, and 20% to fund the operating treasury for development,” the team explained the launch metrics. “The remaining 70% will go back to the Community Treasury which will continue to give life to Mean DAO’s products for years to come. As you probably already noticed, these splits correlate exactly with our community-focused tokenomics.”
The MEAN Launch will see important facts around it, among these: a Solanium Launchpad, their IDO portal, listing on Serum, Orca, Raydium, and Gate.io, as well as liquidity and farming rewards.
The timeline below sketches out how this will function.
What is Mean DAO
Mean DAO governs the development of MeanFi on the financial backbone on web3 and DeFi technologies, with a non-custodial, permissionless, and trustless banking application, where anyone can build their own money legos as they need to deposit, store, exchange, invest, transfer, and withdraw their money with the ease of traditional finance.MeanFi is a self-custody, permissionless and trustless web3 banking application powered by the Mean Protocol, and facilitates everyday banking and retail investment banking workflows to people and businesses around the world.
Where to find Mean DAO
Source: Solana News https://www.solana.news/post/meanfi-token-launch-officially-confirmed