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Home All Events Forest Financial Liquidity & Protocol Launch

Date

Jul 12 2022
Expired!

TimePacific Time

12:00 pm

Your Time

  • Timezone: America/New_York
  • Date: Jul 12 2022
  • Time: 3:00 pm

Status

Abandoned

Forest Financial Liquidity & Protocol Launch

July 12 update – the team said they would need to further delay the launch, but due to numerous delays they instead decided to close the project. They said that those who purchased nodes may visit this page for a $200 refund, however, 1 hour later they stated they don’t have enough money to refund everyone.

July 4 update – launch delayed to July 12, to complete an audit.

June 28 update – the team announced today that launch is delayed by 7 days.

New Node-as-a-Service NFT launch on Avalanche with a re-forestation cause.

DETAILS
  • Token launch on TraderJoe – $FOREST/AVAX pair
  • Listing price: $35 / $FOREST
  • 10% sell tax
  • Total supply: 1,000,000 $FOREST
    • 971,500 Rewards Pool
    • 3,500 Liquidity Pool
    • 25,000 Team/Marketing (to be vested)
      • There is no information on the vesting schedule
  • The ecosystem consists of a 3-phased tokenomics model – $FOREST, YIELDTREES, and $ROOTS
  • $FOREST (+AVAX) will be used to purchase YIELDTREES
    • 1 YIELDTREE = 7.5 $FOREST + 2.5 $FOREST worth in AVAX
  • YIELDTREES generates $FOREST, which can be claimed or compounded into additional YIELDTREES
    • Daily rewards start at 0.1 $FOREST/day for the first 10 $FOREST rewards earned, then rewards decay at a rate of -0.002/day until 0.06/day base reward is reached
    • There is a 10% claim tax on $FOREST rewards
    • For sustainability, there is a maximum amount of YIELDTREES that will be sold by the protocol
  • For every new YIELDTREE, a FORESTER NFTs is minted to take care of the YIELDTREE
    • FORESTERS require a payment of 0.2 $FOREST/month (paid in AVAX) to maintain the YIELDTREE
    • FORESTERS increase in XP level up to a maximum of level 100 – each level adds 0.0005 $FOREST/day
  • $FOREST can also be traded for $ROOTS, via the protocol’s tax-free, internal swap platform
    • There will be no DEX liquidity for $ROOTS
  • $ROOTS offers low-risk rewards with it’s value backed by the treasury
  • Core NFTs can be purchased to boost daily $FOREST rewards
    • SEED NFT – adds 0.01 $FOREST / YIELDTREE / day
    • SAPLING NFT – adds 0.025 $FOREST / YIELDTREE /day
    • TREE NFT – adds 0.06 $FOREST / YIELDTREE /day
  • Core NFTs are tradable on secondary marketplaces
  • Presale was for Core NFTs and also YIELDTREES at a discount;
    • WL presale YIELDTREE price : $200 (max buy: 10 YIELDTREES)
    • Public presale YIELDTREE price : $250 (max buy: 500 YIELDTREES) 
  • $300,000 was raised in the presale events
    • There is no information on how presale funds are allocated
  • Roadmap includes launch of Evergreen NFTs, which are “Phygital” NFTs, representing a real tree being planted. Evergreen NFTs holders will earn $FRUIT rewards.

Blockchain

AVAX

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