February 1st.
tl:dr
Ψ 15m valuation for public
Ψ 3m raise cap
Ψ Private for 3 days, then public. Same terms, same valuation.
Ψ New raise participants are not vested. Only current holders (seed investors)
Ψ Seed investors (current holders) are vested on the following schedule:
- 3 month cliff
- 9 month linear vest
- The option to unlock X% (Max of 10%) of their seed tokens, if, and only if, they market buy $PSI post-deployment on OasisSwap.
These newly purchased tokens will be locked. The X% of their seed tokens will vest linearly over 30 days after their open-market purchase. After the X% is completely vested+unlocked (30 days, linear), their open-market purchased tokens will begin to vest linearly over the next 30 days.
Essentially, both X%’s (up to 10% max), will unlock completely after 60 days, with one vest beginning after the other.
The remaining 90% (assuming they purchase the full 10% of this opportunity), will vest normally as per the above 3 month cliff and 9 month linear vest.
This group includes anyone who will be airdropped the new $PSI tokens on Arbitrum One.
This will be done via a special UI on our website, and through an intermediary contract that will make the purchase for them on our upcoming OasisSwap DEX. (OasisSwap planned for release in the next 20 days, likely sooner.)
Ψ Trident Team (including advisors) vested on the following schedule:
- Additional 4% equity given to team due to the new vesting terms.
- 3 month cliff
- 12 month linear vest
- Total of 24% of supply given to team as equity, through this vesting schedule.
Ψ New Raise Participants:
- 15m valuation, with current total supply of PSI being 9,440,815 PSI.
- No vesting.
- No max allocations for any group/wallet.
- Private for 3 days to DegenScore Beacons, CryptoPunk holders, and folks with 6x Trident pseudo-krakens.
- Public to all after these 3 days of private whitelisting with the parties mentioned directly above.
Ψ Clarification (post-publish edit)
(under the case of raising the full 3m)
- For the raise on Arbitrum, PSI is 1.43USDC per token (unaffected by amount raised)
- The circulating supply will be 2,097,902 PSI
- The FDV market cap, will be 16,500,412 USDC
- The circulating market cap will be 3m USDC
- The circulating supply will not change for ~3 months, due to the cliff vesting of seed investors and team
- The circulating supply will begin to see new supply on a linear schedule after the 3 month cliff (cliff ends in May)
- Fees from R2E wagering will suck up supply from the market
- There are no emissions of currently PSI in place, nor are they planned to be added. Only deflation mechanics via fees.
- OasisSwap will launch in ~2 weeks (likely less)
- Exclusive PSI-USDC liquidity will be on OasisSwap (our upcoming Arbitrum One native DEX)
Introduction
( Regarding our upcoming raise on Arbitrum One)
February 1st.
This is the date that we open the raise on our website.
Trident has evolved significantly as a project in the times since we’ve put our first mark on the chain.
As we move and evolve to the splendid chain of Arbitrum, so too, are our financials.
The Trident team, its advisors, and supporters, will move forward with this grand plot, using a new raise to back our GameFi crusade.
We have been quite firm in the past on not utilizing venture capital funds to steer our vessel.
This remains the case, and as such, we will be raising funds via a semi-public community of anonymous, and decentralized folks. To see who these people are, scroll to the section towards the bottom, labeled “How can I participate in the raise”.
We never want to give up our precious creativity and oversight in the craft we work passionately on every day.
We are gamers at heart, and thats why we’re here, to make gaming a better place, for the crypto-skeptic and the crypto-enthusiast, there is a middle peaceful middle-ground where folks can change their mind about what a crypto game can be.
The most we can say is, these are two big partnerships.
We could not be more ecstatic about it.
They are perfect fits for the Trident team, and our steadfastly supportive community.
Lets get into the nitty gritty of this raise. Token distributions, and what the funds will mainly be used for (hint, not marketing or garish salaries…).
State of Trident’s Tokenomics, post-raise, post-launch on Arbitrum.
The amount we are seeking to raise is 3m.
The valuation at which we are raising this money at is at a circulating market cap of 15m.
We are making this decision as a move to benefit the Trident development, and as such, we believe the minuscule dilution here is more than easily justifiable.
As mentioned in the introduction, we are not raising this money through a traditional VC, but through a private community of anonymous folks. This partnership is with a highly esteemed group that we won’t name until they are ready to announce, however, if you hang around Trident Discord and our AMA’s, you likely already know who this partner is.
We aren’t a huge fan of raising through VC’s, since we don’t want to relinquish control or leadership of the project to a centralized entity that is more geared towards profit seeking, rather than innovation.
For other projects, raising through traditional venture capital funds makes sense.
For Trident, it does not.
We build for gamers, by gamers, and will maintain the development to as such.
What are we using the $ for?
- OasisSwap PSI LP.
50% of the raised money will go to PSI liquidity on our Arbitrum native DEX. We want PSI to be openly traded, and having our own DEX is a great way to gather value for the protocol, especially when integrated as a “widget” into the MMO.
At a raise of 3m, that would 1.5m purely devoted to LP on OasisSwap.
2. Team salaries.
We currently have 3 team members we will be paying salary to, Monolith BrocDev, and Middy. We plan to expand, but not by any means that overgrows our bounds to manage the team and retain project quality.
Indie game studios are relatively cheap to run.
3. Miscellaneous expenses
This includes small things such as server costs, transaction fees, etc.
We value each dollar we receive, and operate under the financial philosophy of using a dollar to its maximum potential, rather than just getting more dollars.
How can I participate in the private time-frame of the raise
0. Wait until the public opportunity begins, which will occur 3 days after the following parties have had exclusive access to make their contribution.
1. Have a DegenScore Beacon.
A DegenScore Beacon is a soul-bound NFT acquired by showing noteworthy on-chain activity and reputation.
The most active and prestigious wallets have the highest DegenScores. We are proud to be a partner with DegenScore and their community of on-chain nobles.
We have plans to release future content with DegenScore Beacon holders as well, earlier than public release.
2. Have a LarvaLabs Crypto Punk.
These blue chip NFTs are a historical piece of Ethereum’s immutable history.
Our partnership with PunkDAO is one we are excited about, originating in our love for on-chain history, and the themes that give this industry an identity of its own.
Chain data will be recorded via snapshot before January 20th.
3. Have 6x of our Pseudo-Kraken NFTs.
What is the utility of a Pseudo-Kraken?
We launched these on October 1st, 2022, in celebration of Sudoswap’s launch, an innovative token exchange that we very much enjoy using.
We posted these for mint at 0.03 ETH per Pseudo-Kraken, in supply of 3000.
It is our first NFT, hosted on Ethereum mainnet, and serves as a future voting mechanism to influence content within the project (with guidelines for submissions of course)
Chain data will be recorded via snapshot before January 20th.
This mechanism will work along the lines of:
- Review guidelines for submitting a piece of game content (item for the MMO, creature to exist in the MMO/Sprite Duels, NPC, MMO planet biome, possibilities extend greatly.)
- Submit a content suggestion
- Your submission gets reviewed to make sure it follows the balancing guidelines (As to not cause imbalances in the meta of the MMO)
- Anyone with a kraken will vote on the content they want to see get added.
1 vote per kraken on each category.
The content in each category with the most votes receives a spot in the game, immortalizing the community’s decisions in our vision.
In addition to all of this, it serves as a cosmetic follower within the game, and some other functions we won’t discuss for now.
