So this (Cre8r dao god mode) is moving forward. 0xkowloon, Ceazor & myself have been chatting with devs that have experience with Olympus contracts and generally getting ready. But it still has not been put to snapshot.
In the mean time there is the question of starting liquidity. No matter what happens it would be nice to have a pool live where CRE8R tokens can be traded. Since our tokens are being distributed on Polygon it makes sense for our first pool to be there.
It’s pretty obvious that the deeper the liquidity the better.
We have a few choices/options for how to launch this.
1, Just pick a token to pair CRE8R with and launch with some % of our treasury funds and some % of our CRE8R token supply.
Pros: We can just do this. We don’t need to ask anyone for anything but ourselves and we don’t have to give away the supply of CRE8R which will be very precious considering the immense value the God Mode plan gives to $CRE8R by airdropping $CRE8ROHM for every chain we launch on and giving Bonding Fees to holders.
Cons: Starting liquidity will be pretty low even if we use all of our ETH (60ETH or something).
Note:
We also need to consider the ration we add at. Since we need to be valuing the CRE8R token very high we would need to add a smol amount of CRE8R with 60ETH so that people are not getting it too cheap. Remember we have been selling the F100 NFT for between 1 and 5ETH (increased each epoch). So we should be thinking about our NFT holders and the value we are giving them. I NFT got about 60k CRE8R so at the very minimum we need to be matching 5ETH with 60k CRE8R so for 60E we should need to add about 60/5 =12 & 12*60k = 720000
So starting liquidity would be 720000 (not quite 1% of total supply) CRE8R paired with 60E
1% of supply seems kinda low as an amount to launch a pool with.
2, Do an LBP with copper/balancer
So thinking about the option above it seems that the best thing to do would be to sell 10% of CRE8R tokens in some way. Balancer LBP would be one way to do that. We still need some starting ETH but we should aim to end up raising around 600E with 10% of supply. Why?
Well because we cant be selling tokens cheaper than what our F100 people got them for thats just not cool
We could also consider selling just 5% and raising 300E to get our pool started.
But this leads to option 3
3, Do like a friends and family sale, we have some people in our DAO that might like to buy a little extra $CRE8R so we could just do OTC.
Also its important to remember that our F100 tokens are vested over 1 year so they are streaming out according to that and will not all be in peoples hands till the end of the year which means these people can’t provide liquidity even if they wanted to. So it would be nice to let them also have a chance to buy some tokens.
We could also do option 3 first then option 2 (at the end of option two we have a pool).
Or just do option 3 then move straight to option 1.
Also there are some other options or variations on the above. ie Token swaps, partnerships where we get given tokens to start liquidity etc etc.
Which options do you like? Why? What should be our starting parameters?