Announcement: Malt launch + community offering

Published in

Malt Protocol

3 min readJun 2, 2021

The time has finally come. We are all going to get a taste of Malt. We are also going to let you know about a community offering for all those who have helped out on the testnets and in the discord/telegram communities.

Malt x Matic

Malt will be launching on Matic Mainnet on Wednesday 9th June 2020.

It has been a long journey to try and decide what chain will be the best to launch on. We went back and forth on BSC, Matic and Fantom a lot. Each chain has its own set of advantages and disadvantages.

Overall, we think that Matic provides the best combination of user experience (good bridges etc), cost, liquidity and reputation. We have seen explosive growth in the Matic ecosystem and we believe positioning ourselves as a strong project in the Matic ecosystem will be strategically beneficial for Malt.

In another article being released in the coming days we will go over the future roadmap for Malt. One of the things discussed in that article is the desire for Malt to be on as many chains as possible. Our philosophy is if we are to be a strong contender in the stablecoin space we have to exist everywhere Defi exists. So if Matic is not your favorite chain, don’t despair because we will very likely be on your favorite chain soon.

The Community Offering

OFFERING IS LIVE: https://offering.malt.money/

** If your allocation on that page is 0 then you are not on the whitelist. If you believe you should be dm us on discord and telegram and we will add you if necessary **

We could not have got to the stage where we are ready and confident about launching Malt without the help and support of those in the community who have used the testnets and helped out in the discord/telegram communities.

In a previous article we covered the fair launch model Malt is using for launch. The ethos of this is to not allow anyone to get Malt at any discount to market rate and also to avoid issues with too many people having coins they could dump at launch. However, this has to be weighed up against other considerations as well. Other considerations like ensuring sufficient initial liquidity to avoid users getting slipped a lot when purchasing early as well as giving back a little to the community for helping us get as far as we have.

To this end we have decided to offer the community the chance to provide some capital towards the initial liquidity.

Importantly however, this initial liquidity will still be at a fair value of $1 per Malt.

What do we get?

Participating in the community offering will give you the following:

Ability to commit up to $500 to initial liquidity
Automatically purchase Malt at $1 per Malt using half the capital
Using the Malt + remaining DAI to automatically provide liquidity
Bond the LP tokens to your account in the same transaction as launch.

So what are the benefits?

Users who participate in the community offering are guaranteeing no slippage on their Malt purchase — IE they get a $1 cost basis. They are also guaranteed to bond their coins from the very moment Malt launches.

Doing this allows all users involved to avoid any issues with low liquidity slippage and in doing so also increases the total liquidity for all subsequent purchases that happen after launch.

Who is eligible?

Anyone who has participated in any of the testnets before Friday 27th May 2020.
Anyone who has been part of conversations in the telegram or discord before Friday 27th May 2020.

How do I get whitelisted?

If you are eligible you need to send the team your address. Either DM us on discord or telegram or alternatively you can paste your address into the community-offering channel on discord.

We will check all addresses for eligibility so if you send us your address but you are not eligible you will not get whitelisted.

We will deploy the community offering page once there has been enough time for everyone eligible for the whitelist to get their address to us.

The offering page will run until 2 hours before launch. If you do not get in before then then you will simply miss your spot.

OFFERING IS LIVE: https://offering.malt.money/