MANTRA DAO
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MANTRA DAO

LABS ZENDIT Post Token Launch Report & LABS Pool 2

Our first ZENDIT launch was sold out in just three minutes!

We want to thank all our Sherpas who were able to participate in our first official ZENDIT launch! Due to the extremely large number of participants, our LABS pool was filled out in just three minutes!

LABS has launched on ZENDIT!

To give our Sherpas a clear and transparent account of the ZENDIT launch, we have prepared the following report:

LABS Whitelist Stats

We received a total of 700 applications to enter the token launch, with the breakdown of applicants per tier listed below:

Based on the % of applicants for each tier the number of Sherpas most likely to be included in the final Whitelist was:

The addresses were compared with the snapshots against the respective tiers to confirm the accuracy of the information that was provided, resulting in 499 applicants being eligible for the whitelist lottery.

The random pick of 210 was conducted on random.org with the results verifiable at: https://www.random.org/draws/details/?draw=132501

The final draw resulted in a representation across tiers as follows:

145 Individuals from the list have successfully bid for $84,400 of the $100,000 allocation.

Opening of Second LABS Pool

In regards to the recent ZENDIT offering: One of the MANTRA DAO Foundation controlled wallets was assigned admin privileges over the LABS pool to test and ensure the process was running smoothly. As part of our tests in this inaugural ZENDIT launch, the MANTRA DAO team submitted a purchase transaction for $1 worth of LABS tokens (333.33 LABS) in order to test that the systems were working properly.

Due to a bug in the UI, which we failed to anticipate, the $1 purchase transaction was submitted as a “MAX” transaction, and given that the MANTRA DAO Foundation account had admin privileges, it allocated the outstanding balance of the pool to the MDAO wallet, which ended up being 15,600 USDT worth (https://etherscan.io/tx/0x9235666ff413443fdd1b0b3fe408e6dbc9c5b9d0d0f224ea7c393ce3f4a65023).

In order to correct this, we will be opening a second LABS pool on March 15th, at 11AM UTC, the second LABS pool, containing 5,200,000 LABS tokens, will be open to 65/210 of the addresses, who were whitelisted but not able to join the pool in time, proportionately to their tiered allocation into the pool. All the Sherpas who weren’t able to get into the first ZENDIT pool will be able to swap up to 44% of their initial allocation for LABS tokens. This means that every one of the 210 Sherpas who won the initial lottery will receive LABS tokens from this ZENDIT launch!

For those who want to find out their new guaranteed allocation, you can view at the following link: https://docs.google.com/spreadsheets/u/1/d/1n3TDbdgXk29gXfVFw7y6sAwpYP8Bbm_lTb6L-1NvhmE/edit#gid=0

We have identified this UI bug, as well as additional improvements to the interface, and are in the process of fixing it in preparation for our upcoming ZENDIT launch next Monday, March 15th.

About MANTRA DAO

MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance. MANTRA DAO leverages the crowd’s wisdom to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to store and grow wealth together.

Website | Whitepaper | Telegram | Medium | Twitter | LinkedIn

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MANTRA DAO leverages the wisdom of the crowd to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to store and grow wealth together.

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MANTRA DAO

MANTRA DAO

MANTRA DAO is a community-governed DeFi ecosystem focusing on cross-chain DeFi products.

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