Parabola Relaunch Announcement
We would like to thank the community for their continuous support and encouragement after the failure of the last launch, which gave us the motivation and confidence to launch the project again. We also apologize for the mistake we made in the last launch where we didn’t set up the rules for the testnet incentive correctly, which resulted in many genuine testers being left off the rewards list, but we will correct that mistake this time as well. To be honest, after spending 3 months designing and developing this project, we didn’t want to give up, so this time we want to make a fairer launch.
After listening to many suggestions from the community and two days of team discussions, we will make the following changes.
- 50% Liquidity Provider: Continuously minted over five years with a progressively decreasing rate.
- 25% PRB/USDC LP: Continuously minted over five years with a progressively decreasing rate.
- 8% DAO Treasury: DAO governance.
- 10% Team: 1 year linear release.
- 2% Airdrop: 1 week linear release. 1.5% allocated to testnet incentive winners, 0.5% allocated to community airdrop winners.
- 5% Public Sale: USD 0.1, 25% instant release, 75% 90 days linear release.
PS: Whatever funds are raised in the public sale will all be used to build the initial liquidity pool and the team will not retain any funds.
2. Testnet Incentive Campaign
Testnet Incentive Period: 17th Feb 2022 @00:00:00–3rd Mar 2022 @06:00:00 UTC.
All users who filled out forms and complete at least one SWAP but are not on the previous testnet incentive winner list will receive 1X rewards, while those who received rewards on the previous testnet incentive winner list will have 0.5X added to the original reward multiplier. Rewards will be distributed one week after the mainnet goes live.
New Testnet Incentive Winners List: https://docs.google.com/spreadsheets/d/1_R2Jx8FfvkXUCFp_3N6PLGc_UisZYmXm/edit?usp=sharing&ouid=112686242558479319431&rtpof=true&sd=true
3. Parabola LFG Community Airdrop
All winners are calculated based on how many Entries they have earned, and the same Entries are chosen randomly. Rewards will be distributed two weeks after the mainnet goes live.
4. Public Sale and Relaunch Schedule
Public Sale Website: https://parabola.fi/tokensales . Website will go live 1 hour before public sale starts. (Please withdraw all funds as soon as possible for those who have deposits on the current website, we will deploy new contracts and front-end soon)
Public Sale Date: 23th Mar 2022, @13:00 UTC
Total tokens for sale: 5,000,000 PRB
Token price: $0.1 per token (Listing Price)
Total raise: $500,000
Purchase limit per address: No limit
PS: We only accept USDC to purchaes PRB token, the funds are raised in the public sale will ALL be used to build the initial liquidity pool and the team will not retain any funds.
25% of the tokens for the Public Sale will be released immediately 6 hours after the mainnet goes live.
The project will do a fair launch on March 25, 2022, @ 13:00 UTC, regardless of whether the public sale reaches its goal.
Thanks again for community support and encouragement, and we hope this will be a good start!
Parabola Fi is an automated market maker (AMM) or exchange that allows users and other decentralized protocols to trade between different stablecoins with very low slippage compared to other AMM solutions.