Matchpool Cap: $ 5 Million USD in ETH
In this article we want to explain shortly what our cap is and the initial creation process of the coins. We are getting a lot of questions from people asking us what our ETH cap will be after the recent Ethereum rise.
Is the cap still 500k ETH?
The answer is: No, we only need a maximum of $5 million USD for the project and we are not going to raise more than this initially.
When will the ETH cap be determined?
The ETH cap will be determined by the ETH price on Friday.
How the cap being determined in the smart contract?
The cap will be determined by the amount of guppies that can be created and not by the amount of ETH that the contract will get.
The contract can create 60m Guppies and it does this based on the price steps — The price steps set the cap:
Lets take a few scenarios :
ETH price at $30
The ETH cap will be $5 USD/30 = 166,666 ETH. Hence the price of the first hour will be 360 GUP for 1 ETH. (Calc by 60m GUP/166,666 ETH)
ETH price at $40
The ETH cap will be $5m/40 = 125,000 ETH. Hence the price of the first hour will be 480 GUP for 1 ETH . (Calc by 60m GUP/125,000 ETH)
ETH price at $50
The ETH cap will be $5m/50 = 100,000 ETH. Hence the price of the first hour will be 600 GUP for 1 ETH . (Calc by 60m GUP/100,000 ETH)
What’s important for the end investor is the cap — the value of all the coins together.
What will happen if only a portion of the GUP are sold?
If only a portion of the guppies are sold, it means that less guppies will be created and hence there will be less guppies in circulation. This is a good thing because it creates GUP scarcity.
In that case — will the team price would stay the same ?
No — The team price will be determined as a % of the total supply and not as a % from 100m GUP.
Are the Team’s coins locked?
Yes — all the team member’s coins are locked for a 12 month period.