TopShelf Finance: Whitelist open

As announced in our pre-launch post, Topshelf launch will be kicking off with an Initial Liquidity Event (ILE) to ensure healthy ongoing liquidity for the native protocol token, LIQR.

The initial liquidity event is planned in approximately one week with the exact date and time to be announced. Prior to that, we are running a Whitelist Campaign with 3,000 total whitelist spots across three chains (1,000 spots on each chain).

ILE for Protocol Owned Liquidity

The ILE will accept BNB, AVAX or FTM which will then be combined with 6% of the total LIQR supply (2% on each chain) to create initial liquidity on the respective chain’s DEXes, namely: PancakeSwap on BSC, SpookySwap on Fantom and TraderJoe on Avalanche. These LP tokens are permanently locked within the contract — the liquidity is “protocol owned” and cannot ever be removed.

Whitelist Campaign

In order to participate in the ILE, one has to be whitelisted in the TopShelf Discord channel after performing one of the tasks below:

1. Invite 5 people to the Discord channel using your referral link, and confirm your invites in the #🤖invite-bot channel; or
2. Quote-tweet (Retweet) this Whitelist Campaign Announcement tweet https://twitter.com/TopShelfFinance/status/1468892602489581573, then post the link to your retweet in the #Retweet-for-whitelist channel
3. Create an original meme about TopShelf and post it on Twitter and tag @TopShelfFinance, then post the link to your tweet in the #meme channel

Upon completion of one of the tasks above, you will be granted one of the above roles and get access to the Whitelist Form in the TopShelf Discord server (https://discord.gg/YazHVZrnug). Higher tiers will let a user access several whitelist spots.

It will become increasingly difficult to get whitelisted as the 3,000 cap approach as minimum requirements may be raised.

Soft and Hard Cap

The soft cap is $3m and hard cap is $15m across all three chains, Binance Smart Chain, Avalanche and Fantom Opera. Each chain will have an equal amount of soft and hard cap at $1m and $5m, respectively.

Please note that you will be prompted to select the chain that you will be contributing from in the Whitelist Form. Once the selection for a particular chain reaches 1,000 whitelisted addresses, it will be removed from the choices and you will have to select from the remaining two chains.

Contribution Cap

Topshelf aims to be a truly decentralized protocol and enable everyone to participate in the ILE with an equal chance. To achieve this, we will be adopting an initial contribution cap allowing guaranteed entry for everyone who is whitelisted within the first hour.

In the first hour of the ILE, all whitelisted addresses can contribute a maximum of $5,000 in BNB/AVAX/ FTM to the sales contract. This contribution cap will be increased to $10,000 in the second hour, and $20,000 in the third hour. The contribution cap will be removed on the 4th hour onwards, allowing unlimited contribution to all whitelisted addresses.

The ILE will last for 24 hours, or until the hard cap of $5m is reached on that chain. The contracts additionally will have a soft cap of $1m — once this is reached, the contract will close for new deposits 6 hours later. In the event the soft cap is not reached, participants will be able to withdraw their contribution after 24 hours.

Token listing and vesting

The ILE amount will be paired with 2% of the token supply and listed on the respective chain’s DEXes; ILE participants will be rewarded 3% of the token supply, streamed over 30 days (or an extra 50%).

At any time during the 30 day stream period, a contributor may choose to withdraw their entire reward balance at once. In doing so, they must pay a 33% penalty on all outstanding vested tokens. The tokens paid in the penalty are then distributed evenly between the remaining users who have not taken an early exit. In the extreme event where every contributor takes an early exit, the remaining penalty tokens are burned.

Community

Follow us below for updates:

Twitter: https://twitter.com/TopShelfFinance

Discord: https://discord.gg/YazHVZrnug

Website: https://topshelf.finance/