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Home All Events SaharaDAO IDO & Liquidity Launch


Jun 10 2022

TimePacific Time

9:00 pm

Your Time

  • Timezone: America/New_York
  • Date: Jun 11 2022
  • Time: 12:00 am



SaharaDAO IDO & Liquidity Launch

New synthetics protocol on Cronos.

The IDO begins at 4am UTC on June 11 (the time this event is set for), and lasts 6 hours, until 10am UTC.

Participants can claim their tokens (and liquidity will launch) once the IDO ends.

  • The IDO will be held on MMFinance’s launchpad, here
  • Participate in the sale with HKN-SVN LPs
  • IDO price: unknown, this IDO is using the overflow method
  • Listing price: unknown, dependent on the presale price
  • Funds from the presale will be allocated as follows:
    • 50% to burn
    • 25% for liquidity
    • 25% to the team
  • Total supply: 30,000,000 MNG
    • 74% to liquidity mining rewards
    • 8% to the DAO, vested over 3 years
    • 8% to the treasury, vested over 3 years
    • 8% to the team, vested over 2 years
    • 2% for IDO / liquidity
      • 400,000 for the IDO
      • 100,000 for liquidity
      • 100,000 for MMF staking rewards
  • The MNG token is the governance token, and MNG stakers will receive 100% of the fees generated by the protocol in MMF and MNG
  • Platform fees:
    • Minting synthetic assets: 0.3%
    • Redeeming synthetic assets: 0.5%
    • Farmers that claim rewards early are charged a fee, MNG stakers receive 50% of that fee
  • Farmed MNG has a 4 week vesting period, claiming early is subject to a 50% penalty fee
  • Staking MNG can be done with a 4 week lock, or no lock
    • Locked stakers earn MMF and MNG, unlocked stakers receive MMF only
    • Locked MNG can not be withdrawn early, unlocked stakers can withdraw at any time
    • Vesting, locking and fee distribution is conducted in 7 day epochs
    • Fee rewards can be claimed at any time by both locked and unlocked stakers



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