Fanfury Bootstrap and Terra Airdrop
Initiating the launch sequence of Fantasy Sports going LIVE with Phase 1 of 3
It’s been a long ride, close to 120 days of what’s been a grueling schedule since our move from Terra but we are finally here and that’s what matters!
We want to start by thanking the entire FURYan community for their patience. We know it’s not been an easy journey but we know it’s going to be worth the wait!
As part of taking fantasy sports live within the Cosmos, we have decided to take a multi-step approach.
The launch will be divided into 3 phases:
Phase 1:
a. The Terra Airdrop to holders of $FURY
b. Liquidity Bootstrap event
Phase 2:
a. Fan Club Memberships
b. xFury Debit Card Registrations
c. Kujira Fin Listing Proposal for $FURY
Phase 3:
a. Gameplay on Web
b. On-Ramps for $FURY Tokens
c. Gameplay on Mobile
For the sake of simplicity, this article will focus on Phase 1 — The Terra Airdrop and Liquidity Bootstrap Pool
Airdrop Details
Airdrop will be made for all those who held FURY tokens on Terra. Airdrop has been scheduled for October 3, 2022.
Airdrops will be made to holders who have verified their Juno address details according to the guidelines shared earlier with the community.
- The Airdrop will be made to every user that held $FURY on Terra.
- The Airdrop will not include participants of the Fan Club Sale during the Forge raise on Terra.
- Fan Club Owners and Members will be able to see their tokens in their respective Fan Clubs when they go live on October 10th.
- Airdrop participants will be able to participate in the first phase of the launch sequence — The Bootstrap Liquidity Pool.
Liquidity Bootstrap Event
Oct 3rd -9th, 2022.
Every crypto project needs two things — Liquidity and Users. In the volatile crypto market, this is an essential requirement to ensure price stability. The team has decided to host a 7-day Liquidity Bootstrap Event from October 3–9, 2022, to create liquidity and a well-balanced environment before we launch gameplay on Mainnet.
Liquidity Bootstrap on Fanfury
Airdropped tokens will be claimable and eligible for bonding. These tokens that are bonded will then bootstrap our Liquidity Pool.
Holders of $FURY tokens can directly participate in the bootstrap, while those of you who like to take part in the bootstrap can do so by either purchasing tokens from MEXC Global or Bonding only $axlUSDC.
- The Liquidity Bootstrapping Pool will be open for 7 days starting October 3rd and ending on October 9th.
- All Airdrop users will be allowed to Claim and Bond their $FURY tokens.
- Users that participate in the Liquidity Bootstrapping event will be eligible for the Liquidity Bootstrapping Rewards Pool.
- The Liquidity Bootstrapping Rewards Pool will be distributed over 12 months.
- Bonding of both $FURY/axlUSDC and $axlUSDC will be available for users to Bond.
- Bonding on Juno will follow the same discounts and release schedule as on Terra.
- Pair Bonding ($FURY/axlUSDC) will offer a 7% discount and a 5-day Lockup, and Single Bonding ($USDC) 5% discount and a 7-day Lockup.
- Bonding and Rewards for $axlUSDC will have 2x the number of $FURY tokens allocated for users to Bond.
- This will allow for more users that do not have $FURY tokens to take part in the Liquidity Bootstrapping Rewards Pool.
- Participants that are not part of the $FURY airdrop can also take part if they hold $FURY tokens bought from MEXC.
- Bonding will start at the price of $FURY on the MEXC exchange at a time that will be released to the community just before the Bootstrapping Event starts.
Why Liquidity Bootstrap?
It’s critical to understand that by deploying a Liquidity Bootstrap, we will be able to eliminate any whale or bot-related manipulation of the token price thereby ensuring a fair token price for everyone.
TL: DR;
- Fair token distribution;
- Eliminate bot/whale-related manipulation;
- Distribution will not exclude Juno users from participating;
- 2x allocation of Bonding Tokens and Rewards to $axlUSDC to ensure higher participation from users that do not hold $FURY;
- Relatively low capital requirement.
Reward pool details :
- ⅓ of the Bootstrapping Rewards Pool will be allocated to $FURY/ axlUSDC bonds;
- ⅔ of the Bootstrapping Rewards Pool will be allocated to $axlUSDC bonds;
- This will allow more users that do not have $FURY tokens to participate in the Bootstrapping Rewards Pool
- Rewards will be distributed to participants of the Liquidity Bootstrapping Pool starting when the Gameplay goes live!
On October 9th, 2022, the Liquidity Bootstrap event will mark its closure and we will begin with Phase 2 of the launch sequence — Fan Club Memberships and xFury Debit Card Registrations
Well, that’s all for now!
But we are just warming up! It’s time we take Fantasy sports to the next level and give you the DFS experience you deserve!
Over the next few days, we will make separate announcements detailing Phase 2 and 3 events.
Until then, keep an eye on our official channel links!
Follow Fanfury
Telegram: https://t.me/fanfuryofficial
Twitter: https://mobile.twitter.com/fanfuryofficial
Disclaimer: This is not financial advice. Readers are responsible for their own decisions and we highly recommend doing your research and taking advice from your financial advisor before making investment decisions.
Only updates coming through official channels of Fanfury should be considered as an official response from the team. Any updates that have not come from official sources or platforms will not be considered a liability of Fanfury or its team.
