Fitmint Presale Auction

Name: Fitmint Presale Auction
Start: 2022-08-30
End: 2022-08-30
Location: Polygon

Fitmint is a move-to-earn fitness platform launching on Polygon.

Presale Details
- The app is already live and available for download on Android and iOS
- This is a fair launch auction for the native token; $FITT, with no previous token sale rounds
- Auction will be held on Copper Launch, and will run for 3 days
- In a Copper Launch auction, the price of the token starts high and, assuming zero demand, drops based on a pre-configured price decay curve that can be resisted by buying pressure from auction participants
- Starting price is $0.0152 and gradually decreases to $0.00082 if there is no buying pressure over time
- Listing price: same as auction end price
- No minimum or maximum allocations
- Participants can buy into or sell out of the auction freely at any time
- Initial pooled: 3000,000 $FITT
- Starting pool weights: 95% FITT: 5% USDC
- Ending pool weights: 50% FITT: 50% USDC
- Initial market cap (estimate): N/A
- Vesting: 100% of auction tokens unlocked at token launch
- Taxes: None

Features
- Earn $FITT tokens and NFT rewards for every calorie burnt, while equipped with your Sneaker NFT
- Each Sneaker is classified by their stats/attributes – power, durability, stamina
- Earning capacity is determined by calories you burn and your Sneaker NFT stats
- Use $FITT tokens to upgrade your Sneaker, boost energy and thus your earning capacity
- Stake $FITT tokens for a chance to win exclusive rewards
- Users will be able to enter challenges and competitions with $FITT tokens and compete to win token and NFT rewards
- Use the in-app wallet to deposit, withdraw, and swap tokens
- Users will able able to trade, upgrade or rent their Sneaker NFTs on the in-app marketplace

Tokenomics
- $FITT is the utility token
- Token utility — staking, minting Sneaker NFTs, Sneaker upgrades, repairs, customisations, and for participating in competitions
- Total supply: 10,000,000,000
  - 31% — Move to Earn rewards (rewards get halved every 3 years)
  - 15% — Staking rewards (rewards get halved every 3 years)
  - 14% — Ecosystem Fund (over 10 years)
  - 24.2% — Team (12 months cliff, then vested linearly over 4 years)
  - 5% — Advisors (6 months cliff, then vested linearly over 3 years)
  - 7.8% — Investors (6 months cliff, then vested linearly over 3 years)
  - 3% — Public sale

None found