Single Finance is Launching on VVS Launchpad (IGO)
We are excited to announce Single Finance (SINGLE) as our first Initial Gem Offering (IGO) to be hosted on VVS, the IGO mechanism explained here.
What Is Single Finance?
Single Finance is a super intuitive platform for all your DeFi investments, minimizing correlations to the general market. Everything on Single Finance is worked out from the user’s injected capital in USD. Everything is visualized, and everything is within your fingertips.
Single Finance’s Single-Click pseudo-market-neutral strategies are built on three major facilities:
- Single Pools — Strategy vaults, leveraged yield farming vaults, and lending pools.
- Single Bots — Automated bots including capital protection bots and re-balancing bots to monitor the market situation and protect the user’s capital in USD.
- LP Time Machine — Performance analytics tool of liquidity pools across all EVM compatible chains. The tool shows the full breakdown of backward-simulated P&L (based on capital marked to USD), including LP rewards, DEX reward tokens, and value change due to the price impact.
To learn more about Single Finance, click here.
What Is $SINGLE?
The Single Finance token (SINGLE) drives the economic incentives for participants on Single Finance. Rewards will be paid out in SINGLE and through staking SINGLE, users gain access to exclusive Single-click strategies that provide higher returns, lower risk, and be able to claim an exclusive Single Finance NFT within a certain period.
SINGLE Token Economics and Release Schedule
The initial minted supply of SINGLE tokens is 1,000,000,000. Details:
- 40% (400,000,000 SINGLE) will be reserved for Mining purposes.
- 22.3% (223,000,000 SINGLE) will be reserved for Partnerships and the Ecosystem Fund.
- 22% (220,000,000 SINGLE) will be reserved for the Single Finance Team.
- 2% (20,000,000 SINGLE) will be reserved for expanding Liquidity Pairs across different AMMs/DEXs.
- 10.7% (107,000,000 SINGLE) will be reserved for providing initial liquidity and bootstrap fees.
- 1% (10,000,000 SINGLE) will be reserved for this IGO.
- 2% (20,000,000 SINGLE) will be reserved for advice from the Single Finance Advisors.
Below is the projected emission schedule for illustrative purposes:
To learn more about Single Finance, click here.
SINGLE IGO Sale Details
Sale Start Date: 12pm UTC on Tuesday, January 18th, 2022
Sale End Date: 12pm UTC on Wednesday, January 19th, 2022
Open Period of the IGO Offering: 24 hours
Amount to Be Raised: $500,000 USD in CRO-VVS LP tokens
Total Tokens for the Raise: 10,000,000 SINGLE (1% of SINGLE total supply)
Price per Token: 1 SINGLE = $0.05 USD
IGO Method: Basic Sale: ‘Gem Fair’ and Unlimited Sale: ‘Gem Warehouse’. Both sales will be conducted using the Overflow Method.
Basic Sale: ‘Gem Fair’ ($250,000, 50% of Sale Allocation)
In the Gem Fair, each person can contribute a MAXIMUM of $200 USD equivalent of CRO-VVS LP tokens.
Stake 10,000,000 VVS in any VVS Glitter Mines for at least 7 days before the Single Finance IGO sale.
The first snapshot will be taken at 12pm UTC on Tuesday, January 11th, 2022. (The stake amount can’t be split between Mines).
The USD value of the CRO-VVS LP token will be set a few minutes before the sale starts based on the market rate and will not change for the sale.
The number of tokens available in this format will typically account for 50% of the total sale.
In order to ensure Basic Sale participants have meaningful IGO allocation in the event of oversubscription, we will implement the Max Overflow mechanism 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’ ($250,000, 50% 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.
The number of tokens available in this format will account for 50% of the total 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:
- Stake 10,000,000 VVS in VVS Glitter Mines for at least 7 days before the Single Finance IGO sale. (Required for the basic sale only)
- Get CRO-VVS LP tokens which will be needed to purchase the SINGLE token.
Before the Sale:
- Get some VVS tokens!
- Ensure you have 10,000,000 VVS staked in the Glitter mine for at least 1 week prior to the sale. (Required for the basic sale only)
- Get some CRO tokens!
- Convert them into CRO-VVS LP tokens by supplying liquidity
- Arm yourself with CRO-VVS LP tokens, this will be your currency to purchase the new token
During the Sale:
- Commit CRO-VVS LP tokens: commit your purchase intention by staking VVS-CRO LP tokens in the IGO smart contract. Note: LP tokens staked in Crystal Farms do not count as IGO participation.
After the Sale:
- Your SINGLE tokens will be immediately claimable once IGO is completed.
- Your allocation of SINGLE tokens is calculated based on the overflow
- Any unused CRO-VVS LP tokens will be returned to you automatically upon claiming your SINGLE tokens.
If you decide to acquire CRO-VVS LP tokens before the IGO sale begins, you may stake them here in our Crystal Farm to earn VVS token rewards while waiting for the IGO.
Note — users holding CRO-VVS LP tokens will be at risk of Impermanent Loss.
SINGLE Farm/Mines Post IGO:
- VVS-SINGLE & SINGLE-USDC liquidity will be seeded immediately after the IGO sale.
- VVS-SINGLE with 0.3x Multiplier Incentivized Crystal Farms will start 30 minutes after the IGO sale. The Farm will last for 60 days.
- SINGLE-USDC with 0.2x Multiplier Incentivized Crystal Farms will start 30 minutes after the IGO sale. The Farm will last for 60 days.
- Stake VVS earn SINGLE Glitter Mine will start emissions roughly 30 minutes after the IGO sale. The Mine will last for 60 days.
Project Details
Project: Single Finance (SINGLE)
Website: https://singlefinance.io/
Initial Circulating Supply (Day of Sale): 10,000,000 SINGLE (1% of initial SINGLE total supply)
Contract Address: 0x0804702a4E749d39A35FDe73d1DF0B1f1D6b8347
Audit: Certik Audit Ongoing
Twitter: https://twitter.com/single_finance
Medium: https://medium.com/singlefinance
Telegram (Announcements): https://t.me/singlefinancenews
Telegram (Community): https://t.me/singlefinanceofficial
Discord: https://discord.com/invite/raQcBPXEWu
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.
