Argo Finance Partnership and Launch on VVS Launchpad (IGO)

Argo Finance is Launching on VVS Launchpad (IGO)

We are excited to announce Argo Finance (ARGO) as our next Initial Gem Offering (IGO) to be launched on the VVS Launchpad! Read on to find out more about Argo Finance and the mechanics for this IGO.

• What is Argo Finance?
• $ARGO Token Economics
• Argo Finance IGO Sale Details
• Participating In the IGO
• Project Details

What is Argo Finance?

Argo Finance is the first liquid staking protocol built on top of the Cronos blockchain that aims to unlock the value of staked CRO and maximize the capital efficiency of CRO across the Crypto.org chain and Cronos ecosystem.

Currently, CRO staking is and has been a very attractive and low-risk way of earning yields on top of your CRO holdings, offering users 10–12% APY on staked CRO. However, staked CRO are essentially locked up and inaccessible to stakers. Stakers who wish to unstake their CRO will have to wait for a 28-days unbonding period before their CRO becomes accessible again.

Argo Finance offers an alternative to this with CRO liquid staking, improving capital efficiency without compromising network security. This is made possible through the issuance of bonded CRO (“bCRO”) which is a liquid staking derivative that represents your staked CRO and can be utilized across the DeFi ecosystem in Cronos to generate additional DeFi yields.

At Argo Finance’s core, they offer two main products:

CRO Liquid Staking

Liquid staking on Argo Finance is an alternative to traditional staking with a validator. They allow you to stake your CRO on Argo Finance in a single click and receive bonded CRO (“bCRO”). bCRO that you receive represents your staked CRO and acts as a receipt, allowing you to exchange them later on for your staked CRO and the earned rewards.

bCRO is a liquid, tokenized representation of the Staker’s staked CRO. bCRO enables stakers to gain liquidity over their staked CRO and enables the locked value of the staked CRO to be utilized across decentralized finance applications across Cronos.

You can withdraw your CRO anytime by unstaking and waiting for the unlock period. Alternatively, you can directly swap bCRO back to CRO on the secondary market.

Argo Finance Defi Vaults

Argo Finance DeFi Vaults is Cronos’ first one-click yield optimizer for single-sided staking CRO and allows users to earn higher APR than simply staking their CRO. It will be a significant game-changer to the dynamics of CRO staking and introduce automated strategies such as auto-compounding and auto yield harvesting.

Argo Finance wants to seamlessly maximize CRO yields and will be introducing the first-ever CRO vaulting solution on Cronos accessible to both new and native DeFi users.

To learn more about Argo Finance, click here.

$ARGO Token Economics

$ARGO is the native token of Argo Finance. It is designed to capture a portion of protocol’s revenues, as such, its intrinsic value should and will scale according to Argo Finance’s TVL.

ARGO Token Utility

• Revenue sharing. 50% of all fees are routed to all stakers (Unstaking fees, Penalty fees, validator reward commission)
• Earning “Loyalty bounty”. Users who instant unstake $xARGO to $ARGO will pay a penalty fee shared by all loyal $xARGO pledgers as a form of loyalty bounty.
• Boosting vaults APR. This is Argo’s innovative MORALE mechanism (inspired by platypus on avax) where stakers will be able to boost their APR in Argo DeFi Vaults, enhancing their liquid staking APR.
• Governance. As part of Argo’s roadmap, locked governance in the form of gauge and ve-tokenomics will be implemented once $ARGO has been sufficiently distributed and decentralized across Cronos.

$ARGO Distribution

The maximum supply of $ARGO tokens is 1,000,000,000. Details are as follows:

• 44% (440,000,000 $ARGO) will be reserved for Incentive Programs & Airdrops (Vesting: Distribution determined based on individual liquidity mining program)
• 5% (50,000,000 $ARGO) will be reserved for Community Bounties (Vesting: Distribution determined based on Community Bounty Programs)
• 5% (50,000,000 $ARGO) will be reserved for Marketing and Partnerships (Vesting: No Vesting)
• 20% (200,000,000 $ARGO) will be reserved for Treasury (Vesting: No Vesting)
• 20% (200,000,000 $ARGO) will be reserved for Team & Advisors (Vesting: 36 months linear vesting)
• 6% (60,000,000 $ARGO) will be reserved for Public Sale (Vesting: Instant Unlock)

$ARGO IGO Sale Details

Sale Start Date: 12pm UTC on Thursday, April 28th, 2022

Duration: 24 hours

LP Seeding: 12pm UTC on Friday, April 29th, 2022

Amount to Be Raised: $3,000,000 USD

Fully Diluted Valuation (or equivalent): $50,000,000 USD

Units for sale: 60,000,000 $ARGO at $0.05 USD per token

Sale Split: 20% to Basic, 80% to Unlimited

IGO Method: Basic Sale: ‘Gem Fair’ and Unlimited Sale: ‘Gem Warehouse’. Both sales will be conducted using the Overflow Method.

Basic Sale: ‘Gem Fair’ ($600,000, 20% of Sale Allocation)

In the Gem Fair, each person can contribute a MAXIMUM of $1000 USD equivalent of CRO tokens.

To enter the Gem Fair, each user has to stake in xVVS Vaults, with varying amounts based on the different vault lockup period. Note: the staked amount cannot be split across multiple Vaults.

In essence, with a longer lockup period in the Vaults, the amount of xVVS staked required to enter the Gem Fair will be lowered.

The Gem Fair eligibility snapshot will be taken randomly between April 27- 28th, 2022. To ensure eligibility, have your xVVS staked by April 26th 11:59pm UTC

In order to ensure Basic Sale participants have meaningful IGO allocation in the event of oversubscription, the Max Overflow mechanism will be implemented in the Basic Sale. The Basic Sale pool will stop accepting further deposit commitment once the overflow reaches 5x / 500% of the amount to raise.

Do note that the final allocation you receive will still be subject to the total amount raised in this sale method. However, you will not be battling any whales.

Unlimited Sale: ‘Gem Warehouse’ ($2,400,000, 80% of Sale Allocation)

The Gem Warehouse will have no limits on the amount each person can contribute.

However, this will come at the cost of a participation fee charged on the total amount pledged to the IGO.

The participation fee will start at 1%, which is only applied to your contribution to the Gem Warehouse.

The fee goes from a max of 1% decreasing in cliffs to 0.2% when the pool reaches 200x overflow from the Gem Warehouse.

Below is an example of scenarios for illustrative purposes:

In this method, users are able to allocate as much or as little as they want to the IGO, their final allocation will be based on the amount of funds they put in as a percentage of all funds provided by other users at the time the IGO sale ends. Users will then receive back any leftover funds when claiming their tokens after the sale.

What Is the “Overflow” Method?

In essence, the more a user commits, the more allocation they may receive based on their percent commitment over the total committed amount. Any unspent amount is returned to users. The Overflow Method is illustrated by the following examples, when a user participates in the IGO via a Gem Fair:

Participating In the IGO

Eligibility:

1. Stake xVVS in Vaults for before the Argo Finance IGO sale. (Required for the basic sale ‘Gem Fair’ only)
2. Get CRO tokens which will be needed to purchase the $ARGO token.

Before the Sale:

1. Get some VVS tokens and stake them for xVVS.
2. Ensure you have xVVS staked in a Vault prior to the sale. xVVS has to be staked before the snapshot is taken in order to be eligible, refer to the above snapshot time and amount required (Required for the basic sale ‘Gem Fair’ only).
3. Arm yourself with CRO tokens, this will be your currency to purchase $ARGO.

During the Sale:

1. Commit CRO tokens: commit your purchase intention by staking CRO tokens in the IGO smart contract.

After the Sale:

1. Your ARGO tokens will be immediately claimable once IGO is completed.
2. Your allocation of ARGO tokens is calculated based on the overflow.
3. Any unused CRO tokens will be returned to you automatically upon claiming your ARGO tokens.

ARGO Farm/Mines Post IGO:

1. ARGO-VVS & ARGO-USDC liquidity will be seeded immediately after the IGO sale.
2. ARGO-VVS Incentivized Crystal Farms will start 60 minutes after the IGO sale. The Farm will last for 60 days.
3. ARGO-USDC Incentivized Crystal Farms will start 60 minutes after the IGO sale. The Farm will last for 60 days.
4. Stake xVVS earn ARGO Glitter Mine will start emissions 60 minutes after the IGO sale. The Mine will last for 60 days.

Project Details

Project: Argo Finance ($ARGO)

Website: https://www.argofinance.money/

Initial Circulating Supply (Day of Sale): 60,000,000 ARGO

Contract Address: to be updated

Audit: Audit Ongoing

Twitter: https://twitter.com/ArgoProtocol

Medium: https://argofinance.medium.com/

Discord: https://discord.com/invite/argofinance

Telegram: https://t.me/Argo_Finance

Documentation: https://docs.argofinance.money

Whitepaper: https://www.argofinance.money/argo_whitepaper.pdf

Disclaimer — All projects are subject to both high market risk and volatility. We ask that you do your own research and full due diligence before investing your funds in any project. VVS Finance will not be held responsible for any investment losses.

Additionally, persons located in or residents of the following list or any other jurisdiction in which it is prohibited from using any of the services offered on the VVS Finance website, including IGO, (the ”Prohibited Jurisdictions”) are not permitted to make use of these services.

You may find the full list of “Prohibited Jurisdictions” and Usage Disclaimer here.