Algomint Announces Governance Token Public Listing on 30 Mar, 2022
Background: Algomint is the preeminent blockchain bridging infrastructure that connects Bitcoin and Ethereum to Algorand. It enables BTC and ETH holders to access the Algorand DeFi ecosystem and benefit from its ultra low fees and fast transaction.
The much anticipated Algomint governance token, goMINT, will be made available via an unprecedented three-way listing on Tinyman, PACT, and AlgoFi DEX on Algorand at 9am AEDT on 30 Mar, 2022. The launch will also offer users a chance to win 1 of 300 much anticipated Blackbook NFTs from one of the world’s leading graffiti artists!
Follow Algomint Twitter to keep up-to-date and check out other socials on algomint.io.
(Relevant reading: What is Algomint? What is Algorand? Algomint Opens Floodgates to Algorand; Algomint Explainer Video 1; Algomint Explainer Video 2 )
The blockchain bridging infrastructure project will provide goMINT publicly for the first time in three equally distributed $1 million liquidity pools of goMINT/ALGO. Approximately 2–3% of the token supply will be sold into these pools over a limited period of time. Market price is expected to be maintained between $0.10-$0.15, after this initial release period, price discovery will be determined by the free market with $1m of liquidity left in each pool.
The token will then continue being listed on centralized exchanges, announcements about listing will be made shortly.
Q: What would be the utility of goMINT?
A: Beyond governance we’re also looking at extra incentives such as reduced fees through staking. The bridge will have a lot of additional functionality in the near future. Once we fully move to DAO governance, fully decentralize the service and have enough distribution, the community will vote on token listings, blockchain integrations, fees and where we’re heading in terms of functionality. On top of that, token holders will also be eligible for rewards through participation, including LP rewards pools. We are also working on tokenomics models on how those rewards are sustainable and to deliver value to token holders long term.
(Relevant reading: Algomint 2nd Feb Q&A)
“Algomint is a shared infrastructure on Algorand for all projects equally and the 3-way listing reflects that,” said AJ Milne, Algomint co-founder, “we are proud to support a multi-DEX Algorand ecosystem in the multi-chain world.”
“We want to offer multiple venue options and a big enough window for everyone to participate, so that no one feels like they’re missing out,” said Michael Cotton, Algomint co-founder, “it is the first time an ASA governance token is launched locally in this way, so we’re very excited to see what comes out of it.”
“Algomint is a strategic investment as the liquidity gateway of the Algorand ecosystem,” said David Garcia, CEO and Managing Partner of Borderless Capital.
“We look forward to seeing their delivery of exciting items on the roadmap which will add enormous value to various stakeholders, which of course include their investors.”
“We are delighted to see the product development and community building Algomint has been pursuing,” said Daniel Oon from Algorand Foundation.
“They have taken the feedback from the community and the Foundation in planning their long term strategies, which is reassuring that they are of the right mindset when it comes to building a public infrastructure for Algorand.”
300 NFTs from Blackbook will be distributed to the top 100 buyers in the sale from each of the three DEXes respectively. Winners can claim the NFTs with eligible wallets through the Algomint Discord rewards-claim channel over a given period of time following the sale.
Visit Tinyman, PACT, AlgoFi for product links and guide docs prior to the sale to get prepared.
Leading up to the public listing, Algomint is organizing multiple AMAs to inform and engage with the community. As we get closer to the date, the AMA details will be announced on Twitter and Discord. Pay attention to our social channels below.
🌍 Website
🚀 Telegram Group
🐤 Twitter
👔 LinkedIn
🎮 Discord
