$EFFORT Liquidity Pool Raise (EDITED)
First of all, we believe EFFORT ECONOMY’s overall impact will come from our PLAYERS, EFFORT2EARN APPS and partners. With each newly onboarded member, we can foster more earnings, more opportunities, more fun & more development, driving demand and need for $EFFORT. Ultimately, the value of Effort Economy and $EFFORT, is in the hands of the players. Everyone in the economy is a player because everyone has a role to play.
After months of working closely with the Elrond team, We are excited to announce that we are finally listing on the Maiar Exchange, the decentralized exchange of the Elrond Network. As part of our preparations for listing on the Maiar Exchange, The community requested for an activity that will allow them to participate in the initial liquidity pool. We listened and we know a larger liquidity pool is to the benefit of the community. This will allow for prices to be less volatile and to combat price manipulation by bots and bad actors in the space. This activity aims to be beneficial for projects looking to increase liquidity pool to get off the ground and participants looking to support projects they believe could be the next big thing.
EFFORT Liquidity Pool Raise starts at
Feb 7th 9:00PM (SGT)/3:00pm(EET).
Website will be posted exactly at this time as well to avoid preparations of bots in the Effort Economy Twitter account https://twitter.com/EffortEconomy
The LP Raise TL;DR
- The activity will end in 48 hours or when 4000 $EGLD has been raised
- The goal of this activity is to have a larger liquidity pool that will lead to the benefit of more people
- The main goal is for bots to be unable to prepare
- LP Raise Price is 1 $EGLD = 600 $EFFORT
- Minimum amount per wallet: 1 EGLD
- Maximum amount per wallet: 50 EGLD
- 50% of the tokens given will be $EFFORT and the other 50% will be $WEFFT (Wrapped Effort Tokens) Example: 1 $EGLD = 300 $EFFORT + 300 $WEFFT
- $EFFORT will be sent to wallet address that sent EGLD and $WEFFT will be sent to the same wallet 7 Days after being listed in the Maiar Exchange
- $WEFFT will be exchanged to $EFFORT after 30 days of the first day of listing. $WEFFT has no utility aside from this
- Once all $EFFORT has been distributed, Liquidity Pool address will be announced in the official channels
- You can start adding in the EGLD/EFFORT LP after the Pool Address has been announced in the Effort Economy Official Links
- $WEFFT can be claimed for $EFFORT only after 30 days by LP Raise participants. A snapshot will be taken to ensure LP Raise buyers really added in the Liquidity Pool in the first three days of listing. Snapshot is going to be for rewards
Mechanics
The activity will end in 48 hours or when 4000 $EGLD has been raised
This allows everyone to have an equal opportunity to prepare and join the $EFFORT LP Raise activity. A maximum limit of 4000 EGLD will allow a significant amount of $EFFORT to be in circulation which will result to more token holders.
The goal of this activity is to have a larger liquidity pool that will lead to the benefit of more people
As mentioned above, a larger liquidity pool will be to the benefit of everyone rather than a select few
The main priority is for bots to be unable to prepare
While it is in our priority to ensure the best people get to access this, the top priority is to not allow bad actors ruin the experience for everyone else. Even if we have to sacrifice innovation for security for the time being.
LP Raise Price is 1$EGLD = 600 $EFFORT
A total of 2,400,000 tokens will be available for sale and at these prices puts the project as a fully diluted valuation of $25,000,000 at current prices of $150/EGLD. We are building and committed to the Elrond Network and it is not acceptable for us not to have EGLD as the trading pair. Any other currency will not be accepted.
Minimum amount per wallet: 1 EGLD
This is to set a minimum and yet be inclusive of everyone. Failure to send minimum amount will be returned to the sender.
Maximum amount per wallet: 50 EGLD
The maximum amount was set so that more people can participate. Wallets that send more than 100 EGLD will trigger the return of the excess amount of EGLD.
50% of the tokens given will be $EFFORT and the other 50% will be $WEFFT (Wrapped Effort Tokens)
Since this activity’s main goal is to raise liquidity for the benefit of the community, all activities should also lead to the benefit of all. This was decided to ensure people that participate in the activity allocate their $EFFORT to the liquidity pool and not dump them on Maiar Exchange investors. Example: Person A sends 1 $EGLD and gets 300 $EFFORT + 300 $WEFFT. $WEFFT can claim $EFFORT thirty (30) days after listing on the Maiar Exchange.
People will always have an option to purchase $EFFORT once listed on the Maiar Exchange if these terms are not suitable for them.
$EFFORT will be sent to wallet address that sent EGLD and $WEFFT will be sent to the same wallet address seven (7) Days after being listed on the Maiar Exchange
$EFFORT will be sent to the wallet and $WEFFT after seven days of listing in the Maiar Exchange. $WEFFT will have no value and utility except to claim equal amount of $EFFORT. Example: Person A who participated sends 1 $WEFFT and gets 1 $EFFORT after thirty (30) days after listing on the Maiar Exchange.
Once all $EFFORT has been distributed, Liquidity Pool address will be announced in the official channels
Only open links from the official Effort Economy channels. Afterwards, participants of this event can start adding in the $EGLD/$EFFORT Liquidity Pool after the Pool Address has been announced in the Effort Economy Official Links
Twitter: @efforteconomy
Website: https://efforteconomy.io/
$WEFFT can be claimed for $EFFORT only after 30 days by LP Raise participants.
A snapshot will be taken to ensure LP Raise participants really added in the Liquidity Pool in the first three days of listing. Snapshot is for surprise rewards.
Before participating, we encourage everyone to DYOR about the project.
