Graviton Set for Fast Expansion Following $4,6M Treasury Fundraising
With more than 4,6 million in the Treasury, Graviton has amassed a large initial collateral for GTON, looking forward to starting early-bird reward distribution and releasing products for LP farming and beyond.
We are excited to announce the closing of the early-bird phase with more than $4,6m collected as provision for $GTON initial liquidity. It’s great to see that we are succeeding at building such a passionate and active community and that Graviton has gained such wide acknowledgement just within two weeks. Over 300 community members’ accounts have contributed to the project. It is thanks to you Graviton is currently fully equipped to kickstart its Gravitonomics and embark on the journey of further advancing the concept of seamless inter-chain DeFi.
The Treasury primarily serves as GTON collateral and allows for price discovery for IDO, prior to the start of the token emission. Currently, the initial token price is projected to be at around $2,1 and the fully diluted cap is at the level of $46,000,000.
The Treasury deposits are intended to provide initial liquidity at the IDO stage on AMM DEXes. To bootstrap GTON liquidity, the stablecoins that have been locked in the treasury will be periodically released to redeem the token and add liquidity into AMM services (e.g. Uniswap), as planned. This process will start in the nearest weeks.
As a reminder: the token unlocking schedule for EB is nonlinear, and releasing liquidity from the treasury to put it in AMMs will go according to the schedule described in this article.
Please note that the supply option will no longer be available on the Graviton app interface, and any direct transactions to the Treasury after the end of the EB period cannot be reverted, and therefore the assets sent after April 29, 8:21pm UTC will not be refunded.
A range of Graviton products with a variety of yield generation options is currently in the works, and we are getting ready for launching the GTON treasury farming for the enrolled early birds. A public beta for the backers’ option which will allow to supply initial IDO liquidity for GTON will also be released in the near term.
The upcoming releases also include GTON staking, LP GTON farming and the anticipated Catalyst & Boost programs. Apart from the reward-based functionality, Graviton will also host a governance portal as part of the efforts to establish a truly community-driven development.
We are happy to see your support and can’t wait to uncover all the other fascinating elements of the cross-chain universe that we are building. Stay tuned!