We just received the feedback that the reasoning and conditions about the upcoming IDO campaign haven’t been communicated well to the community. Let me fix this up.
Based on our experience of launching a Settler on Harmony. In the first several days/weeks after the Mainnet launch, we might expect huge buying pressure for the pCLNY tokens. Simply, there will be thousands of landlords wanted to upgrade their lands to improve their position inside Colony.
There was made a strategic decision. To make IDO and sell $100k equivalent of pCLNY tokens. And use all those tokens to set up initial liquidity before the Mainnet launch.
So when MarsColony Polygon is live, there is available liquidity pools for pCLNY.
Launch partner → Infinite Launch
Funds to raise → ≈ $100k
Pre-minted pCLNY ≈ 300k pCLNY when
50% goes to IDO sell that will be distributed via Launchpad (it’s not Launchpad commission)
50% will be matched with raised funds (for the liquidity)
100% of pre-minted pCLNY will be set up in the initial liquidity pool
*Launchpad success fee is 7% of raised funds
Thank you to everyone who brings the concerns to the table. It helps us to keep project transparency on the highest level
Why to give 50% money to launchpad when all the marketing is from our side (if launchpad owners are your friends than that’s reasonable)
I know lainchpad is good for project but giving them 50 % for just hosting about this project is not smart move
This project is only in name of decentraliz but only admins make decisions like
Not bringing harmony colony to polygon (makes harmony colony worthless)
Giving away free money to launchpad
Not asking for vote lol
There slogan is claim land earn clny govern colony lol pure hypocrisy
Luckily the community noticed. Would have been a real bummer to do an IDO and not tell Harmony about it. Although would have been interesting to see the confusion when harmony people who bought poly plots get dumped on after public launch.
I’d be interested in the reasoning behind a bsc launchpad. The partnership with polygon was mentioned a lot and the project bent to poly’s demands so far. Wouldn’t poly prefer a launch on one of their native launchpads? Iffy.
So far we execute the road map as we planned for building a multiverse. If you do not agree with the current road map please bring your suggestion, and research that you want to implement beside that part that was published.
We will be much much happier if Landlords will contribute to the project development since they control the token supply.
Hey @joeok let me comment on this also.
Regarding using BSC for the launchpad, it’s not on our pate. It’s on the Infinite user’s request as I get. On our side, everything will be swapped to Polygon. See the quotation of their team:
" bsc is for investors’ covenience during the fundraising process, which encourage more investors to join the public aale. This won’t affect the fact that pCLNY will be launched and distributed on polygon network"
Regarding communicating IDO to the community.
I think we didn’t do it well. This is something we will discuss with the team internally and learn from our mistakes.
We are thinking about some ideas on how creators can communicate ideas directly and on time. Keep posted about it.