Introducing Solmash: A Solana Inscription Launchpad Re-establish Fairness
We are excited to unveil Solmash, a transformative launchpad seeking to restore community-led fair launches. Solmash takes a holistic approach to launching a project, going beyond a regular launchpad and working to connect project founders to the right communities for their protocol. It’s not just a launchpad: it’s a way to give people a fair chance while preparing projects for long-term success.
What Makes Solmash Different?
Solmash is dedicated to the foundational principles of equality and openness in Web3. Too often, the real upside of new projects is reserved for VCs who enter at extremely favorable rounds.
Solmash is focused on bringing BRC-20 inscriptions and ordinals to the Solana ecosystem. The platform seeks to boost BRC-20 projects on Solana, where there is a mature Defi ecosystem and community.
Because we’re focused on fair launches, we’ve put a lot of thought into how to launch $MASH, our native token, as fairly as possible as well. $MASH will be the governance token of the platform with a total supply of 100 million $MASH.
To do this, we’ve divided our launch into three separate rounds:
- A staking round
- A whitelist round
- A “honest pool”（HP） round
The goal will be to raise $570,000 in the launch from the community.
The Staking Round
This round will begin at 19:00 UTC on January 6th, 2024, with the goal of raising $100,000 USD. Community members can stake $SOBB earn $MASH, utilizing a dynamic allocation system where the allocation of $MASH is adjusted based on the total number of $SOBB ultimately staked to ensure an equitable distribution. Upon the conclusion of the staking period, the system will automatically deduct a corresponding amount of $SOBB from stakers to exchange for the $MASH whitelist, in alignment with the designated whitelist quota of the staking pool. The distribution formula is:
{Individual Staking Amount} / {Total Pool Staking Amount} * {Current Allocation Amount}
For example, if user A stakes 10,000 $SOBB in a pool with 1,000,000 $SOBB, their allocation is {10,000}/{1,000,000} * 1,000,000 = 10,000 $MASH.
When the total staked amount of $SOBB reaches 180,000,001, the maximum allocation limit of 10,000,000 $mash will be triggered. Even after hitting this cap, users will be able to stake $SOBB to earn rewards. If the total amount of $SOBB staked does not reach 180,000,000, the remaining allocation will roll over into the third and final fundraising round — Honest Pool (HP).
(the staking link will be released soon!)
Community members who stake more than 50,000 $SOBB will be able to receive referral links, earning a bonus when these links are used by invitees. Users who have staked more than 10,000 $SOBB are eligible to be considered as invitees. Uniquely, the larger the referrer’s final staked amount, the greater the earnings for the invitee as well.
Incentive Points
More stakes by an invitee result in more points for the inviter. Invitees earn a direct 1% point reward based on their inviter’s final allocation portion. Conversely, inviters earn a direct 10% point reward based on their invitees’ final allocation portion. The larger the inviter’s initial stake, the more points the invitee earns. Points are dynamically adjusted based on the total staking and are finalized at the end of the staking period. Users with points will share the additional $MASH allocation proportionally, based on their share of the points in the pool.
Additional Note: Users who successfully earn invitation points will ultimately share an additional allocation of $MASH. This extra allocation will be offered at the same subscription price as this launch. The specific allocation and subscription details will be announced later.
NOTE:*
Participants who stake during this round will not be able to exit their staked position during the staking period.
The allocation of shares will be distributed based on the proportion of $SOBB staking. At the end of the staking period, the corresponding $SOBB will be deducted from the allocated shares when users withdraw from $SOBB staking.
The Whitelist Round
The whitelist round is set to commence at 11:00 UTC and conclude at 19:00 UTC on January 9th, 2024. This round has a target of raising $300,000 USD within the timeframe. In this round, whitelisted donors purchase tickets that will represent their position. Each ticket will represent a 10,000 $MASH. 30,000,000 $MASH will be available in this round.
In addition, Community members will be able to use $SOBB to purchase whitelist tickets. Influencers and whales, who will significantly enhance the visibility of the project, along with early community builders, will be allocated 22 million $MASH from this round’s total token amount. The rest will be distributed to ambassadors, active community members, and marketing campaign winners, and others..
Honest Pool
The final round, known as the Honest Pool, is scheduled to commence at 11:00 UTC and conclude at 19:00 UTC on January 9th, 2024. This round aims to raise $170,000 through $SOBB or $SOL. A total of 17 million $MASH will be available. In this round, community members can participate by paying $SOBB or $SOL for entries. Each entry will cost 10% more of the denominated assets that user chose. There are 1,700 tickets available with 10,000 $MASH each, corresponding to the 17,000,000 $MASH in total. The price of $MASH is set at 0.01 USDC when using $SOBB, and 0.06 USDC when using $SOL.
Participants in the Honest Pool buy tickets without any cap on the number or amount. From all entries, 1,700 lucky winners will be randomly selected using a trusted VRF oracle, with each winner receiving 1 Ticket. If the staking pool does not reach its allocation limit by the end, the remaining allocation will enter the Honest Pool and be distributed in the same manner.
The extra 10% fee WILL not be refunded whether or not the user is selected to be the winner. All fees collected will be used to DEX liquidity over time. The lottery process ensures fairness and transparency, and the handling fee serves to prevent mass account registrations from monopolizing the winning slots, ensuring a fair chance for all participants.
$MASH Launch Summary
Key Launch Dates
- Staking Round Start Time: January 6th, 2024, at 19:00 UTC
Staking Round End Time: January 9th, 2024, at 19:00 UTC - Whitelist Announcement Time: January 9th, 2024, at 03:00 UTC
Whitelist Round Start Time: January 9th, 2024, at 11:00 UTC
Whitelist Round End Time: January 9th, 2024, at 19:00 UTC - Honest Pool Round Start Time: January 9th, 2024, at 11:00 UTC
Honest Pool Round End Time: January 9th, 2024, at 19:00 UTC - All three pools withdrawal and claim time: January 10th, 2024, at 14:00 UTC
- Start of Trading: January 10th, 2024, at 15:00 UTC
Launchpad Specifics
- Fundraising Goal: $570,000
- Trading Tokens: $SOBB and $SOL
- Tokens Allocated to the Launch: 57,000,000 $MASH
- Token Pricing: 1 $mash = 0.01 USDC
- Total Tickets: 5,700
- Ticket Pricing: 1 Ticket = 10,000 $mash, 1 Ticket= 3000 SOBB= 1 SOL
Bring Fairness Back with a Fair Launch
We’re excited to not only build a launchpad for inscriptions on Solana, but to use this as an opportunity to revive fair launches across the crypto industry. We’ve developed our launch with a number of unique mechanisms meant to even the playing field.
We invite you to join us as we strive to build a more inclusive, equitable, and sustainable blockchain ecosystem. Stay connected for more updates and become a part of the evolving Solmash community today!
