The Big Bang
The first allocation of $SPICE will take place via a Uniswap Liquidity Bootstrapping. Here are the details.
The Big Bang is the public token sale of $SPICE. The sale will have three main purposes:
- Provide access to $SPICE for the early adopter community.
- Serve as a price discovery mechanism and total supply determination.
- Collect capital for providing liquidity and the minting of $SCIFI.
The Big Bang leverages a globally familiar user experience and the ubiquitous access of Uniswap across communities and geographies as well as a multistage price discovery mechanism that is novel in its function and may become the standard in future DEX offerings.
Multistage Liquidity Boosts and a Burn
$SPICE will be distributed through a Uniswap offering, with a maximum of 8% of all $SPICE, a total of 3.36M $SPICE being made accessible. The offering period will last 24hrs. During this time Mission Control will provide a Uniswap Liquidity Pool with 700.000 USDC and 500.000 $SPICE, resulting in a floor price of $ 1.40 per $SPICE. The only $SPICE ever made accessible at that point in time will be in this pool. No $SPICE beyond that is in the market and can enter the pool.
Depending on the demand of $SPICE, Mission Control will offer “Liquidity Boosts” at 5 price discovery stages. These Liquidity Boosts will be limit-orders that will not sell below a predefined price and hence create strong higher price floors. After all limit orders at a certain price level have been executed, the uniswap pool ratio of $SPICE and USDC will determine the price until the next Liquidity Boost starts. Liquidity Boost will take place at the following price levels: $2.19, $3.89, $4.63, $5.60 and $8.75 (all USDC).
Immediately after the distribution period of 24 hours, all $SPICE tokens from the Liquidity Boosts (up to 2.86M) that have not been sold during the 24 hour distribution period will be burned, resulting in a supply contraction.
So, the lowest amount of $SPICE allocated in the Big Bang could be 500.000 $SPICE with not a single limit order executed at $1.40, while the potential maximum of $SPICE distributed could be 3.36mn $SPICE (500.000 from the initial Uniswap Pool and 2.86mn from 5 Liquidity Boosts).
This multistage (rocket) distribution mechanism will be fully steered by the community — which altitudes are reached is to be seen.
Purchase and Interfaces
$SPICE will be accessible through the Uniswap interface. The Big Bang time will not be announced prior to its start. Mission Control will initiate the Big Bang soon - stay informed by following the $SCIFI Channels. Only use the link to the Uniswap pool provided on the official channels.
The Big Bang proceeds from Liquidity Boosts will be used to provide liquidity for $SCIFI as well as minting $SCIFI, i.e. acquiring the underlying constitutes and locking them into the $SCIFI smart contract.
Details of the offering
- Total supply: 42.000.000 $SPICE
- Supply on sale: Up to 3.360.000 $SPICE (8% of total supply)
- Allocation mechanism: Uniswap Liquidity Bootstrapping
- Start date/time: To be announced at launch (soon)
- Duration: 24 hours
- Interface: Uniswap
- Price: Initial liquidity provided at $1.40
- Accepted currencies: USDC