Fair Launch: Embracing the Memecoin Spirit
$20,000 USDbr has been minted into the deployer address and paired with $20,000 HONEY (DEX of choice TBA). The 20K HONEY has been taken out of dev’s pocket to launch the protocol. However, this isn’t a premine as it gives no edge to the devs. This LP will ever not be staked and will ever not earn any NOME either. It’s simply there to start the USDbr/HONEY pool. Once the pool is large enough, this LP might be taken out since it’s no longer relevant. The $20K of USDbr would then either be burned or returned to the protocol treasury somehow. But again, this gives no edge to the deployer. The $20,000 HONEY, if possible at some point in time, devs can take back. This LP, naturally, won’t grow in terms of capital either, because USDbr rebases to ~$1. There is no unfair advantage here.
1,000 NOME has been minted and paired against HONEY, just to create the liquidity pool. Please keep in mind that supply growth is fast during the first couple of weeks, so the initial price is likely irrelevant and will be extremely volatile. This LP pair also won’t be staked, so it won’t unfairly earn any NOME to devs either. This LP in fact be burned, so if there is any $NOME price appreciation, it won’t be unfairly taken. This is done purely to set up the gauges for community staking and the launch.
Update: the LP was in fact burned. See here.
The LP pools are simply there to seed the initial liquidity. Neither of the LPs will earn any NOME, so devs won’t be unfairly mining any supply before others would be able to. Truly a fair launch!
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