DG TOKEN Initial Uniswap Offering
DeGate, an Ethereum layer-2 (L2) native decentralized exchange (DEX) protocol is announcing the Initial Uniswap Offering (IUO) on 12 March 2021.
DeGate, which is formed, governed, and owned by the community as a Decentralized Autonomous Organization (DAO) is aiming to be the leading DEX and liquidity hub of L2.
Besides a full set of exchange-related modules, such as autonomous market-making (AMM) functionalities, orderbooks, and leverage capabilities, DeGate will provide layer 1 to layer 2 bridge, and also fiat on- and off-ramps, enabling the users to access the emerging world of the Ethereum L2 directly from fiat currencies.
On Friday, the 12th of March, at a random time point between 22:00 and 22:30 Singapore Time, the IUO of DG token will be conducted. During the IUO, 10,000,000 DG tokens (1% of total DG token supply) will be offered to the market in DG/USDC pair at an initial price of $0.005/DG, which is equivalent to an initial market cap between $500,000 and $600,000. A fully diluted market cap at the initial price will be $5M.
DeGate is a protocol of the community, by the community, and for the community. DeGate sticks to a fair-launch principle, in that there is no discounted seed round of fundraising or any VC round before an average Joe from the community. Additionally, it should be noted that the rate at which the public is able to initially acquire DG tokens is the same as the founding team’s initial purchase price. The founding team has acquired 19.8% of the total supply from DeGate Home DAO for 990,000 USD, which initially owns 100% of the tokens. This purchase is made public in the DeGate’s open ledger.
More information about the token distribution and the countdown timer to the IUO can be accessed here.
DeGate Home DAO will offer the opportunity to acquire DG token in three rounds, all starting at a total valuation of $5M:
- Initial Uniswap Offering
- Social media-based lottery initiative
- Liquidity Bootstrapping Pool on Balancer
Stay tuned to follow the news about the subsequent opportunities to acquire DG token and how to participate in building and governing the DeGate protocol on social media:
Legal disclaimer
Legal Note: DG tokens are not investments or investment contracts, nor should they be interpreted as such. The purpose of the DG token is to participate in a community-owned and community-governed protocol. Materials that are published relating to DG token do not constitute the provision of advice regarding investment, tax, legal, accounting, financial, consulting, or anything related. Participation in DG token ownership involves risk and the publication of information is not a recommendation to buy, sell or purchase any product or service. The materials published to reflect the information available as of the time of publishing and are subject to change without notice.
