The Kwenta treasuryDAO will raise funds via Aelin to fuel DAO development.
Kwenta will sell 5% of the total token supply pre-inflation (15,668.65 Kwenta out of 313,373 Kwenta) for 5M sUSD, placing the total supply at a 100m USD valuation.
The pool is live here on Aelin. Make sure you are connected to Optimism layer 2!
The pool will accept sUSD and will be open for a period of 2 weeks starting February 14th, 2022.
The Pool Details
Sponsor: Kwenta treasuryDAO
Currency accepted: sUSD
Pool length: Two weeks
Pool Type: Uncapped
sUSD GOAL: 5M
Amount of tokens: 5% of Initial Supply
Please note that pool contributors have a 48-hours allocation window to accept the deal terms once the buy-in period is closed or they forfeit their allocation (Feb 27th, 2022). Once the allocation window closes, contributors who accepted their full allocation will then have another 12-hour open window to buy the remaining tokens on a first-come, first-serve basis.
Uncapped pools allow anyone to purchase as much as they want but token allocations may be scaled back. For example, if there are 17m sUSD in the pool and the Kwenta tokens are worth $5m (100m FDV @ 15,668.65 tokens, then everyone will receive 29/100th of their allocation. Someone who puts in 100k sUSD would only get 29k worth of sUSD in tokens allocated.
Pool contributors will receive vKWENTA which will be directly claimable for KWENTA on a 1:1 basis once the token is live (target launch is currently late Q1-early Q2). vKWENTA will not be stakeable or usable in Kwenta governance, it must be converted to KWENTA in order to be used within the DAO.
For a full technical description of the Aelin raise, please see KIP-9. For help on how to participate in the Aelin Pool see Kwenta Aelin How To
Do I need to deposit quickly to participate in the pool?
There is no need to hurry to deposit. The pool is uncapped, meaning that you can deposit sUSD anytime within the 2 week time frame. However, we suggest not to do this at the last moment.
When do I need to accept the deal?
Once the pool window closes on February 27th, you have a 48-hours window to accept or reject the deal. Set your reminders to make sure you won't miss this window!