Fractional Rocket Public Sale - in depth — SOLD OUT
Note: This medium article is about the Public Sale which follows the Community Sale a week later. More information about the previous Community Sale can be found here.
More information about the stealth launch, read here.
For the tokenomics, please see here.
Fractional Rocket Public Sale FAQ:
When is the public sale and where will it take place?
The public sale starts on Februari 19th at 4pm UTC. It will happen on our protocol website at https://app.fractionalrocket.money/
For different timezones, please use these links
How long will the sale last?
The public sale will last 48 hours or until $87,500 USDC is contributed.
How many tokens will be for sale?
We will be selling 35%: 350,000 $bFROCK. Below is a comprehensive breakdown of our fully diluted supply at launch. For more info, please see check our website.
What is $bFROCK?
$bFROCK is an NRT token (Non Transferable Token) which means it cannot be transferred or used to supply liquidity — it can only be redeemed. The reason we are using an NRT token is to prevent non-approved liquidity pools from being launched prior to our official listing.
$bFROCK will be redeemable 1:1 for $FROCK when the protocol is launched.
Will everyone be able to participate?
Everyone will be eligible to participate (there is no whitelist), but we will be stopping contributions if we reach 87,500 USDC deposited. Therefore, there is a chance that the public sale sells out.
What will the price of $bFROCK be?
The price will be dynamically determined by how much USDC is contributed to the vault. The minimum price will be $0.08 per $bFROCK and the maximum price will be $0.25 per $bFROCK.
Price = USDC deposited / 350,000 $bFROCK
Minimum price: $0.08 per $bFROCK
The price will start at $0.08 per $bFROCK — the same price as our community offering, and will remain at $0.08 per $bFROCK until $28,000 USDC is contributed. Once $28,000 USDC is contributed, price will begin to increase as a linear function of how much USDC is deposited.
Maximum price: $0.25 per $bFROCK
Once there has been $87,500 USDC contributed to the vault, the vault will lock and users will no longer be able to withdraw their deposited USDC. The price at this max contribution will be equal to $0.25 per $bFROCK.
The implied price will fluctuate throughout the duration of the 48 hours, but it is important to note that every person who participates in the public sale will receive the same price, as the purchase price is determined by the final amount of USDC deposited into the vault at the completion of the sale. Below is a simple graph of how the price function will work.
No matter at what time during the Public Sale you deposit your USDC, the price will be the same for EVERYONE. The final price (and your amount of $bFROCK) is calculated at the conclusion of the public sale.
When can I claim my $bFROCK?
$bFROCK will be claimable immediately after the 48 hour period of the public sale.
I took part in the community sale and I have $aFROCK, what do I do?
You can redeem you $aFROCK and $bFROCK for $FROCK directly before the protocol launches and trading is allowed.
What are you doing with the proceeds of the public sale?
- 75% for providing liquidity.
- 25% to the Treasury.
Will there be a vesting schedule?
No, there will not be a vesting schedule.
If you want to sell your $FROCK at anytime (directly after launch or not) you will be taxed according to protocols setup. See our website.
How will the deposits and withdrawals work?
Users will be able to deposit/withdraw USDC into the vault during the 48 hour sale period. The implied price will be displayed throughout the sale period, and if a user decides that they do not like the price, they can withdraw their funds with no penalty. Meaning they will not receive $bFROCK or be a participant in the sale. However, if the vault reaches $87,500 in deposits, withdrawals will no longer be possible, and the resulting price for everyone will be $0.25 per $bFROCK.
This is the maximum price possible during this public sale.
Is there a limit to withdrawing my deposits?
Users will be restricted to a $1,000 per hour withdrawal limit.
This is done in order to reduce “spoofing” where a whale might try to make the price seem high and then remove tokens right before the sale period ends, to shake out potential investors and achieve a lower price.
How much can I contribute?
The maximum contribution is $2,500 per wallet.
How to participate in our public sale:
- Have your wallet set up and integrated with the Fantom Opera Network:
- Have sufficient $FTM in your wallet for gas fees.
- Fund your wallet with the amount of $USDC that you’d like to contribute
- Click here to buy $USDC with $FTM.
- Connect to our app at https://app.fractionalrocket.money/ with your wallet
- Hit the “Approve” button to allow your wallet to contribute $USDC
- Deposit your desired amount of $USDC!
When will you list on SpookySwap?
We will list our liquidity on SpookySwap in the 24-hour period following February 22th at 4:00pm UTC. The exact timing will not be disclose, this will be stealth launch. Once launched we will broadcast on all our official channels.
When will the investing of the treasury start?
The investing in $STRONG nodes will start directly after the Public Sale! It will be funded with 25% of the treasury proceeds from the Public Sale.
What security practices have you put in place to ensure a fair and safe public sale?
Our team is working with well known and respected auditors to review our contracts. We’re working through that onboarding process and will announce the auditors and timeline very soon.
All contracts for the public sale will be verified and reviewable in advance of the start time. We have also gotten these contracts peer reviewed from experienced solidity developers to confirm these are secure.
Why is there a cap on the public sale total?
We decided to add a cap to the total proceeds from the Public Sale to bolster active capital markets during our listing on SpookySwap.
$87,500 is a significant amount for us to launch our protocol, and we don’t feel the need to raise more. At a $87,500 raise, the tokens will be distributed in our network across a significant number of participants, at the same price for everyone. This model is contrary to other protocols which have launched with no treasuries and illiquid pools, leading to high volatility and price disparity/inequality for investors.
Why is there a wallet deposit cap?
This was added to prevent whales from taking up too much of the raise, further distributing our network and the possibility of participation.
What happens if less than $28,000 is raised?
If less than $ 28,000 is raised, less than 350,000 $bFROCK will be sold. The amount of $bFROCK that is sold will be equal to $ raised / $0.08.
For example, if $20k is raised, the amount of bMAG sold would be $20,000 / $0.08 = 250,000 $bFROCK. The remaining 100,000 (350,000 minus 250,000) that was allocated towards this round will be sent to a burn address.
What is the minimum deposit amount?
There is no minimum deposit amount.
IMPORTANT — PLEASE READ
Please be aware that there is a possibility that fake $aFROCK, $bFROCK or $FROCK tokens are created. Do not purchase anything that is not posted on our official socials / website. Please also be aware that Fractional Rocket team members will never reach out to you first. Always ensure you have the right token address and website URLs.
All information will be posted via official Fractional Rocket platforms:
Fractional Rocket cannot be held liable for any mistakes resulting from user negligence and inattention.
Please note: participation in these offerings comes with abundant risk. There is no guarantee your investment will perform well, or that the protocol will be successful. Please only contribute what you are comfortable losing. Crypto is risky in nature and you should always exercise risk management and caution.