Orcfax Token Launch in Collaboration with Wingriders’ Launchpad!

Orcfax
8 min readAug 29, 2023

Get ready for our token launch!
Following extensive consultations, we’re thrilled to reveal the platform that Orcfax will use to launch its utility token and which meets all our criteria!

Wingriders’ innovative launchpad combines fair price discovery with a token sale and the initial bootstrapping of a liquidity pool. This is enhanced by dual yield farming rewards, increasing the utility of the FACT token — all of these features are provided within one decentralized and non-custodial solution.

Orcfax will utilize this platform to distribute 86 million of its tokens to the community while bootstrapping a liquidity pool holding 24 million FACT tokens and corresponding ADA*.

🔗 Link to the Launchpad: Orcfax Token Launch
🚀 Orcfax Token Launch & Price Discovery Start:
8 Sep, 2023, 08:00 UTC
🏁 Orcfax Token Launch & Price Discovery Close: 15 Sep, 2023, 16:00 UTC
🎁 Claim FACT Tokens: Post-launchpad closure, via Wingriders Launchpad

During the ongoing price discovery phase, participants can add or remove ADA. Once the launchpad concludes its active phase, the final launchpad price becomes established. Thereafter, the ADA deposits will convert to corresponding FACT tokens, which will be claimable in full through the same launchpad portal (no cliff or vesting schedule).

Our Pledge to Fairness and Decentralization

Orcfax is committed to increasing the footprint of our community. The way we decide to distribute the Orcfax utility token is an important step towards achieving this goal. That’s why we decided not to sell any FACT tokens via VC, seed, or private sale rounds. We believe this will ensure a more fair distribution of our token among our community.

Decentralized, non-custodial, and fair price discovery are critical aspects of the Orcfax launch. This is why we have refrained from utilizing a centralized ICO-style public sale. By doing so, we empower the market to set the token’s initial price, avoiding pre-determined prices and promoting decentralization. This approach also enhances regulatory clarity and minimizes future risks.

About Wingriders and the Wingriders Launchpad

WingRiders is an innovative Cardano AMM DEX, combining Curve Finance and Uniswap V2 features. It introduces the WingRiders Launchpad (WRLP), aimed to provide a comprehensive solution for projects, offering token minting, sales, price discovery, liquidity creation, and fund management.

The main features of the fully automated, self servicing WRLP are:

  • Non-custodial and secure operation
  • Smart contract-based functionality
  • Decentralized and permissionless access
  • Antiscam measures and fully audited
  • Compliance options tailored to jurisdiction
  • Support for Cardano’s growth and DEX treasury.

Initial launches receive advisory backing from WingRiders, empowering projects and their communities. While this solution brings empowerment, it’s essential to acknowledge inherent risks. For more insights about the Launchpad, please visit WingRiders’ official social media.

How the Launchpad Works

The steps to interact with the Launchpad are simple:

  1. Visit the WingRiders launchpad (link)
  2. Look for upcoming or ongoing project token launches
  3. Do your own research and find the Orcfax project; to participate in the launch, click “Contribute”
  4. Connect your wallet, enter the amount to contribute and click “Contribute”
  5. Read and accept the Launchpad Terms and Conditions; confirm your contribution and sign the transaction.
  6. The raising token (ADA) can be added and removed any number of times during the launch time-window, until the launch ends and the price is discovered*.
  7. Once the launch ends and distribution of claiming rights to all participants is completed, claim your FACT tokens in the WingRiders Launchpad UI (Handled by smart Contracts)
  8. Find the project’s Tokens in your wallet!

A full detailed guide to the Wingriders launchpad can be found here.

Mark Your Calendars

🔗 Link to the Launchpad: Orcfax Token Launch
🚀 Orcfax Token Launch & Price Discovery Start: September 8th, 2023, 08:00:00 AM UTC
🏁 Orcfax Token Launch & Price Discovery Close: September 15th, 2023, 16:00:00 AM UTC
💧 Liquidity Pool Creation*: In an automated fashion after the Launchpad closes
🎁 Claim FACT Tokens: Post-launchpad closure, via Wingriders Launchpad (no vesting)

*Note: The initial ADA-FACT price within the liquidity pool will be higher than the closing price of the Launchpad. This is because the protocol will add more ADA after the launchpad closes. This subsequent addition of ADA will raise the ADA-FACT price above the launchpad closing price as soon as the liquidity pool is created.

Launchpad Parameters

  • FACT Tokens for Participants: 86,000,000 (8.6% of Total Supply)
  • FACT Tokens for Liquidity Pool: 24,000,000 (2.4% of Total Supply)
  • Minimum ADA to be raised: 850,000
  • Maximum ADA to be raised: 4,500,000
  • Raised ADA going to the Liquidity Pool: 31%

In case the Minimum ADA mentioned above is not committed before the launchpad closes, the Launchpad is automatically canceled as it demonstrates a lack of community confidence in the project. This figure also represents the minimum budget that the team requires to continue our activities. If the Launchpad were to finalize for a lower amount then the project would not be sustainable.

The maximum figure represents the budget that the team needs to continue what we have planned. This includes our R&D initiatives, business development, community relations, and, most importantly, maintain Orcfax network operations until it transitions to full self-sustainability.

The Utility of the FACT Token

Our Cardano-native “$FACT” token is a utility token that serves multiple purposes:

  • Payment for on-demand oracle data publications
  • Staking by data validator nodes
  • Reward payments to validators
  • Voting power in Orcfax DAO governance decisions

Read more about the Utility of the FACT token in our docs.

Orcfax Tokenomics and Yield Farming Rewards

From the initial publication of our tokenomics we have only made some minor changes:

  • We moved 2% of the “Advisors” allocation to the “Public Sale” allocation because we don’t need that much.
  • We renamed the “Public Sale” allocation to the “Launchpad & LP Bootstrapping” allocation, because we have decided to launch our token via the Wingriders Launchpad.
  • We removed the “Exchange Liquidity” allocation and added the same allocation for “Yield Farming APY”, because the Launchpad also provides for the creation of a Liquidity Pool. This allocation is now used to improve the attractiveness of our liquidity pool(s).

The tokenomics allocations therefore now looks like this:

Orcfax Tokenomics

Following the token generation event, we will distribute all 1,000,000,000 FACT tokens to their respective ADA handle wallets. Each ada handle wallet will represent one of the allocations as mentioned in the token distribution below. This approach ensures a high level of transparency in the subsequent distribution of the tokens to all stakeholders.

Orcfax Token Distribution

The 86,000,000 FACT tokens that are distributed to the participants via the Wingriders’ Launchpad will come from the “Liquidity Bootstrapping” allocation. The same applies to the 24,000,000 FACT tokens that are used to bootstrap the initial liquidity pool on Wingriders.

The launchpad tokens have no cliff and/or vesting, they will be claimable in full after the launchpad closes. The tokens used to bootstrap the Liquidity Pool will have a cliff of 6 months after the Launchpad closes (12 months from the start of the ISPO) and a one month vesting period.

Read more about Orcfax’s Tokenomics in our docs.

(Double) Yield Farming Rewards

Lastly, we have allocated 20,000,000 FACT tokens to significantly enhance the attractiveness of our liquidity pool(s) by offering substantial Yield Farming Rewards to our liquidity providers.

In order to further improve the benefits of providing liquidity to our pool farm, Wingriders is also adding WRT token rewards to our pool. The details of this double (FACT + WRT) Yield Farming rewards will be available on the Wingriders DEX as we switch into epoch 437 on 17th of September 2023. Users will have 1 epoch to deposit their liquidity to the Liquidity Pool and their LP tokens to the Farm (i.e. until 22nd of September 2023) to be eligible for rewards from epoch 438. Of course, it’s also possible to provide liquidity later on.

Besides our initial liquidity pool on Wingriders, we will also add one or more additional liquidity pool(s) with corresponding Yield Farming rewards on other DEXes.

What is Orcfax

Orcfax is a second-generation oracle service for Cardano, bridging real-world data to the Cardano blockchain.

These are made available as on-chain data inputs to smart contracts, scripts, and dApps that are running on the Cardano blockchain.

Orcfax data is made available in Cardano’s native eUTXO format using our Cardano Open Oracle Protocol (COOP)

How Orcfax Works

Orcfax collects real-world data from multiple sources for each data point and uses a distributed network of validator nodes to deliver truly decentralized oracle feeds.

Orcfax provides full audit logs of its data collection and validation process for each datum on a permissionless, decentralized storage network. This process allows users to “trust but verify” the fact statements published by Orcfax.

Orcfax is finely-tuned to deliver authentic and accurate oracle data. This is a critical requirement to fulfill the mostly unmet promise of DeFi. There are also many other business models and industries that remain poised to leverage distributed trust technology.

Unique Orcfax Features

  • Triangulated Data: All feed data collected from multiple primary sources
  • Fully Auditable: Permanent audit trails (in human readable format) for all data feed activity
  • Stake-Based Validation: Decentralized oracle pools of independent validator nodes verify the accuracy and authenticity of source data, driven by stake-based reward incentives
  • Archived Forever: All data stored on decentralized, sustainable storage using a standards-compliant archival packaging format for permanent access and re-use
  • Cardano-Native eUTXO Design: Orcfax created and implements the Cardano Open Oracle Protocol as an open standard designed to support and enhance eUTXO datum publication. A key objective of the COOP is leveraging the eUTXO design to reduce on-chain fees.

Want To Learn More?

Website: https://orcfax.io/
Docs: https://docs.orcfax.io/
Discord: https://discord.com/invite/UbAeRuNzDu
Twitter: https://twitter.com/orcfax
Reddit: https://www.reddit.com/r/Orcfax/

Stay tuned for more Orcfax Token Launch updates!

Disclaimer: Orcfax Ltd. and the Wingriders Launchpad

Orcfax Ltd. wishes to clarify that it does not provide any warranties or guarantees in relation to the use of the Wingriders Launchpad. The Wingriders Launchpad, developed by a separate entity, offers a platform for launching tokens and facilitating transactions.

It is important to note that Orcfax Ltd. operates independently from the Wingriders Launchpad. While Orcfax utilizes the Wingriders Launchpad for launching its token, the platform itself is Self-servicing automated smart contract based decentralized platform, which is used by Orcfax Ltd. But Orcfax Ltd does not operate or handle the launch this is done in an automated fashion.

Individuals utilizing the Wingriders Launchpad for token purchases or any other activities are required to carefully review and agree to the Terms and Conditions provided by the Launchpad. Orcfax Ltd. does not have any control over, or responsibility for, the Wingriders Launchpad’s operations, terms, or any actions executed by the automated smart contract paltform. This includes the Launchpad’s policy to block IP addresses from Canada and the United States.

Please be advised that any engagement with the Wingriders Launchpad is subject to its own terms, policies, and practices. Orcfax Ltd. strongly encourages users to thoroughly understand and accept the terms and disclaimers stipulated by the Launchpad before utilizing this platform for any purpose.

By proceeding to use the Wingriders Launchpad, individuals acknowledge that Orcfax Ltd. is not liable for any issues, losses, or disputes arising from the use of the Launchpad.

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Orcfax

Decentralized Cardano oracle that validates, publishes and archives standards-based fact statements about the real world, providing full data flow audit logs.