$SLING Treasury Diversification Event — Join the SlingShot DAO Ecosystem

Published in

SlingShot DAO

2 min readMay 17, 2023

(Edit) The LBP is now live! It can be accessed here: https://fjordfoundry.com/pools/polygon/0x574B348a951581B0a57d00db97473089e80CA2DB

Following the successful approval of SIP-2 Treasury Diversification Proposal, SlingShot DAO is thrilled to announce the Treasury Diversification event that will take place on https://fjordfoundry.com/ (previously known as Copper Launch).

This event is special because it gives more community members an opportunity to join the SlingShot community and have a bigger say in how things work. Until now, $SLING tokens have only been given as rewards. But with this event, 6% of total supply of tokens are being sold. That’s 300,000,000 $SLING tokens!

To get involved with the SlingShot app go to https://www.slingshotdao.com/app. You can suggest ideas, vote for your favorites, and see how SlingShot DAO’s Treasury is used to make those ideas a reality. If you take part, you’ll get rewards!

How Does FjordFoundry Work?

FjordFoundry was chosen for this event because it’s fair, open, and easy to use. It’s also decentralized, which means anyone can join in — there’s no need for special permissions. FjordFoundry doesn’t have any limitations, so it’s great for an event like this.

FjordFoundry works with something called Balancer’s Liquidity Bootstrapping Pool (LBP). This is a smart way of pairing two tokens and changing their value over time.

For the event, the starting value of $SLING to USDC will be 99:1. This will change over the course of the event, ending at 50:50. The price of $SLING will go down if no one buys it, but it’ll go up if people do buy it.

The cool thing about the LBP is that you can buy and sell $SLING tokens at any time during the event. You can buy as many times as you like, or just once — it’s up to you!

Join the Community

This is a chance to be part of a community that’s changing the game. Literally! We’re all about creating, developing, and launching great gaming ideas. So why not join us?

The Details

Start: May 17, 2023, 10.00 PST

End: May 24, 2023, 10.00 PST

Total Duration: 7 days

Blockchain: Polygon

Minimum Purchase: 10,000 SLING

Accepted Currency: USDC

Available Tokens: 300,000,000 SLING : 20,000 USDC

Starting Ratio: SLING 99% : USDC 1%

Final Ratio: SLING 50% : USDC 50%

Starting Rate: 0.000067 USDC for 1 SLING

Link: https://fjordfoundry.com/pools/polygon/0x574B348a951581B0a57d00db97473089e80CA2DB