Bootstrapping Liquidity, Beyond this Place of Wrath
H(◎,◎)T H(◎,◎)T.
Out of the night that covers me, Black as the pit from pole to pole, I thank whatever gods may be For my unconquerable soul.
In the fell clutch of circumstance I have not winced nor cried aloud. Under the bludgeonings of chance My head is bloody, but unbowed.
Beyond this place of wrath and tears Looms but the Horror of the shade, And yet the menace of the years Finds and shall find me unafraid.
It matters not how strait the gate, How charged with punishments the scroll, I am the master of my fate,
I am the captain of my soul.
(◎,◎)
Preface
Moving forward, we are pleased to announce that Sol Invictus has raised $500k USDC from various angel investors to seed liquidity for launch and treasury reserves.
Though, this may lead to worrisome concerns community members might have towards raising funds from angel investors but rest assured that the team has designed a comparatively fair vesting and distribution conditions, and also selected well known and trustworthy ones.
The team believes that they, the Chosen Ones, are the key pillar to help provide significant guidance and rise us all to the Sun. We’re all in this together. We are all seen (◎,◎).
pIN — the precursor of Sol Invictus
The main goal of pIN is to seed initial liquidity from angel investors and secure funding for infrastructure, development and operational costs. Like pOHM, pIN is a precursor derivative of IN which gives the holder the right to mint IN by burning pIN.
For instance, an investor provides 1 pIN to mint 1 IN
The Details
As IN supply grows, more pIN becomes available to redeem. 6% of total supply is dedicated to angel investors, linearly vested and capped at a maximum of 600,000 pIN (when protocol reaches 10m IN total supply).
On the other hand, distribution for developers make up of 9% of total supply, linearly vested and capped at a maximum of 1,800,000 pIN (when protocol reaches 20m IN total supply).
ELI5: IN token redemptions depend on the supply and protocol growth of Invictus. Investors will only be able to vest their tokens IF and only IF Invictus grows so their interests are aligned with the protocol’s and its users.
A breakdown
- Angel Investors: 6% of IN
- Team: 9% of IN
- Community-centric: 85% of IN
Under the conditions that the underlying price remains above the Risk Free Value (RFV) before and after claiming, then it will be possible for investors to claim their IN. This ensures that our incentives are aligned to keep the premium alive.
ELI5: Investors will only be able to vest their tokens IF and only IF Invictus grows.
Finale
After much heated discussion, the team firmly believes that this is the most optimal approach that focuses on long term growth of Sol Invictus. Tokens vesting alongside the growth of supply and redeemable when the underlying asset is trading at a premium not only makes it healthy for the protocol, but also creates a positive sum environment for our fellow Stars, Radiant and Ablaze.
Sol Invictus is the captain of my SOL. Sol Invictus brings me IN, helps me grow, and leads me towards where I must go. You have looked into our (◎,◎) and we have looked back at yours.
H(◎,◎)T H(◎,◎)T
