Deepr Finance DEEPR Fair Launch: All You Need To Know

We’re thrilled to share the latest developments at Deepr Finance: Our next major milestone is just around the corner — the fair launch of the platform’s native utility token, DEEPR takes place on October 28, 2023 at 8pm CET on Shimmer Sea Dex. In this article, we’ll explain what you need to know about this upcoming fair launch, providing all the essential details for your participation. Additionally, we’ll illuminate the tokenomics of Deepr Finance and discuss how the utility of DEEPR will evolve and expand over time. Prepare to deep-dive into an extraordinary DeFi journey with us.

Fair launch — equitable for everyone

A fair launch is a transparent and equitable distribution of tokens, free from pre-allocations, giving everyone an equal chance to acquire tokens. Following the core principles of Web3, our aim is to guarantee an equitable opportunity for all to partake in our initial DEEPR liquidity offering.

Details on the DEEPR fair launch

While the DEEPR fair launch is straightforward, please keep in mind that there are some factors to consider. We’ve compiled all the relevant information for your reference below:

• Start: The DEEPR fair launch starts on October 28, 2023, 8 PM CET.
• End: The DEEPR fair launch ends on November 1, 2023, 12 AM CET or when the hard cap is reached.
• Hard cap: The hard cap for the DEEPR fair launch is 9 million SMR, which equals approx. $360,000 USD with $SMR valued at 4 cents.

The fair launch is initially accessible through a whitelist. To be eligible for our whitelist, you must either be a Lumi (ShimmerSea) NFT holder or a Subie (Deepr Finance) NFT winner. In case you won a Subie, please make sure you have submitted your ShimmerEVM address to us via Zealy.

• Submission of ShimmerEVM address: The deadline for submitting your ShimmerEVM address as a Subie NFT winner is October 26, 2023 at 8 PM CET.
• Snapshot of Lumi NFT holders: The snapshot for Lumi NFT holders takes place on October 27, 2023, 8 PM CET. This also includes stakers of Lumi on ShimmerSea.

To facilitate the participation of a significant number of users, we’ve implemented a maximum wallet limit of $SMR 40,000. This is equivalent to approximately $1600 USD with $SMR valued at 4 cents. Please note that the 40,000 SMR limit applies to each unique ShimmerEVM wallet address, regardless of how many NFTs (Subies or Lumis) you own.

After the completion of the fair launch you will be able to claim your DEEPR LP tokens. The initial market cap of DEEPR will be approximately $180,000 USD (with $SMR valued at 4 cents).

Please note that Deepr Finance will go live as soon as a AAA bridge is deployed with sufficient liquidity of wrapped assets such as BTC, ETH, USDC, USDT available. Be sure to check out Deepr Degen in the interim to experience a DeFi lending experience on ShimmerEVM.

Our open phase is scheduled to start on October 29, 2023, and it will be accessible to all participants without requiring whitelisting. However, it’s important to note that if the maximum cap of 9 million SMR tokens, which is equivalent to approximately $360,000 at a value of 4 cents per SMR token, is reached during the fair launch, there may not be an open phase.

Ready to take part?

We’ve made the participation process in the DEEPR fair launch as user-friendly as can be. For this reason, we’ve chosen to launch our token on our partner’s platform, ShimmerSea.

Let’s break it down and go through the steps required for you to join the fair launch:

1. Get some SMR tokens on a CEX.
2. Send your SMR tokens to your Firefly Shimmer Wallet.
3. Bridge your SMR tokens from your Firefly Shimmer Wallet to your MetaMask wallet. We recommend this explanation video by Blockbytes.

1. Connect your MetaMask wallet with ShimmerSea.
2. Buy DEEPR on ShimmerSea during our fair launch: https://shimmersea.finance/fairlaunch

If you come across any issues or have any questions, don’t hesitate to contact us through Discord.

Unveiling DEEPR: dive in

As Deepr Finance’s native utility token, DEEPR serves distinct functions:

Governance

Initially, the Deepr Finance team holds the reins of the protocol’s governance. Key decisions regarding collateralization ratios, interest rates, and emission rates are collaboratively made, taking input from advisors and the community. However, our commitment to decentralized decision-making means we are progressively transitioning full governance to the community and stakeholders. The DEEPR token plays a vital role in this process, functioning as a utility token with voting features. As per governance guidelines, token holders will be able to propose ideas, vote on them, and delegate votes in a decentralized manner.

Passive income

In the future, users can stake their DEEPR tokens to earn 50% of the fees generated by the protocol. This empowers token holders to passively generate income from lending markets while locking significant token portions. With the ongoing expansion of features on Deepr Finance, the DEEPR token will experience increased utility and value accrual.

DEEPR has a simple tokenomics model. The model will have a Total Supply of 1,000,000,000 tokens. The token will be minted and distributed according to the following scheme:

DEEPR tokenomics

Please be aware of a slight adjustment within the DEEPR tokenomics:

We updated the initial liquidity offering from 1% to 5% to allow as many investors as possible to partake in the DEEPR token launch. This adjustment has been offset against the token allocation set aside for liquidity incentives on DEXes which the team is confident will continue to be sufficient.

Join our fair launch party

We can hardly contain our excitement as we prepare to throw a launch party with our community on Discord this Saturday, October 28, 2023. Keep your eyes peeled for further updates — we’re absolutely thrilled to have you join us for this forthcoming fair launch. It’s an important milestone, and we eagerly anticipate what the future has in store.