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Home All Events Crypt Finance Boardroom Launch

Date

Jul 02 2022
Expired!

TimePacific Time

9:30 am

Your Time

  • Timezone: America/New_York
  • Date: Jul 02 2022
  • Time: 12:30 pm

Status

Abandoned

Crypt Finance Boardroom Launch

June 3 update – the team has not been present in the Discord for 3 days and the protocol has $7 TVL; we are considering this abandoned.

New tomb fork launch on Fantom.

DETAILS
  • Boardroom
    • Stake $CRYPT in the boardroom to earn $CORPSE rewards
    • During expansion, newly minted $CORPSE rewards are distributed as follows;
      • 80% – Rewards for Boardroom stakers
      • 15% – DAO Fund
      • 5% – DEV Fund
    • Boardroom will not mint $CORPSE tokens while time weighted average price; TWAP < 1.01
    • 65% of newly minted $CORPSE during debt phase is allocated to the Treasury Fund to prepare for the $COFFIN Redemption
    • Staked $CRYPT will be locked for 4 epochs (6 hours/epoch). Timer resets on every stake and rewards claim
    • $CORPSE rewards will be locked for 2 epochs (6 hours/epoch). Timer resets on every rewards claim and stake
    • $COFFIN will be available for purchase when $CORPSE falls below peg
  • Tokens
    • $CORPSE is the algo-stable, pegged to 1 DAI, with an initial supply of 24,001; allocated as follows:
      • 24,000 – Genesis Pool
      • 1 – Pre-minted for Initial Liquidity
    • $CRYPT is the shares token, with a total supply of 50,001; allocated as follows:
      • 50,000 – Farming Rewards
      • 5,000 – Community Fund (vested linearly over 12 months)
      • 5,000 – Dev Fund (vested linearly over 12 months)
      • 1 – Pre-minted for Initial Liquidity
    • $COFFIN is the bond token
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