Launching on the Gravity Launchpad 19th May 2021
The Gravity Finance IDO will be hosted on our own Launchpad, gravityfinance.io which is deployed on the Polygon network. We will be launching our UI in just a few days time.
Our Whitepaper can be found here.
Details are as follows:
- 40,000,000 GFI Tokens On Offer
- Fixed Price: 0.000025 wETH for 1 GFI
- Maximum Raise: 1000 wETH
- Pool Opens: 19th May at 6:00am UTC
- Pool Closes: 20th May at 6:00am UTC
- Pool Open Period: 24 Hours
- Minimum deposit (per user): No Minimum
- Maximum deposit (per user): 0.5 wETH (20,000 GFI)
How Does it Work?
The IDO will be run on a Guaranteed Proportional Fixed Price model. Participants are able to deposit any amount up to the max. (0.5 wETH) during the purchase window (24 hours).
The Pool can be oversubscribed, meaning that once the total raise is met, participants are still able to contribute funds to the pool. The token price is fixed and will not change no matter how much is subscribed.
When the pool closes, there are two possible scenarios which will determine each participants final allocation:
Upon closing, the total contributed to the pool is at or below the maximum raise amount. Participants will receive the exact allocation that they contributed to the pool.
(User Allocation = User Amount Contributed)
Upon closing, the pool is oversubscribed and the total amount contributed is above the total raise amount. Participants will receive an allocation proportional to their contributed funds as a percentage of total funds contributed. Remaining funds will be refunded when the user claims their tokens.
(User Allocation = (User Amount Contributed / Total Amount Contributed to the Pool) * Total Tokens in the Pool)
Example of Scenario 2:
Bob deposits 0.5 wETH (max deposit) into the Pool.
After the pool closes, the total contributions to the pool is determined.
For the purpose of this example let’s assume the total pool contributions equal 2000 wETH, meaning it is oversubscribed by twice the total maximum raise amount (1000 wETH).
Bob’s proportion is (0.5 wETH divided by 2000 wETH), i.e. 0.025% of the pool.
This means Bob will receive 0.025% of the 40,000,000 GFI tokens in the pool (10,000 GFI) at a total cost of 0.25 wETH (0.000025 wETH per GFI). The remaining 0.25 wETH will also be refunded to Bob when he claims his tokens.
Participating In The IDO
In order to participate in the Gravity Finance IDO, you will need:
- An Ethereum wallet, setup and connected to the Polygon network.
- Have wETH in your Polygon wallet. When transferring ETH from any chain to Polygon it becomes wrapped (wETH). This is a straightforward process and we have included this in our guides below.
- Have a small amount of MATIC in your Polygon wallet. MATIC is the native token on the Polygon network in which transaction fees are paid. See the instructions below on how to obtain some MATIC.
Transferring funds to the Polygon Network
Detailed instructions on how to create a Polygon Wallet and how to transfer funds from Ethereum to Polygon can be found here.
If you would prefer to transfer funds to from Binance Smart Chain (BSC) to Polygon, please see this article.
Obtaining free MATIC
There are several free ways to obtain a small amount of MATIC:
- Log in (connect wallet) to wallet.matic.network for the first time and 0.001 MATIC will be airdropped to you if your MATIC balance is less than 0.001 .
- Transfer any asset from Ethereum to Polygon/Matic using the Polygon Bridge and 0.01 will be airdropped to you if your MATIC balance is less than 0.001.
- Head to the Polygon Faucet to airdrop some to yourself. https://matic.supply/
Participants will be able to claim their GFI tokens 30 minutes after the pool closes. Unused wETH funds will also be immediately refunded with a user’s claim.
Trading and Liquidity
Staking GFI & GFI LP Tokens
Soon after the IDO has completed we will be launching 3 staking pools, allowing GFI, GFI-USDC LP and GFI-WETH LP token holders to earn more GFI (with high APYs).
The two LP pools will remain open until we launch our swap exchange. AT that time, they will be replaced with Gravity LP staking pools.
The exact details will also be announced prior to the IDO.
Incentives to Support the Project and Token Price
We are determined to get our tokens in the hands of people who support the project. We will be offering various rewards to all IDO participants who simply hold their tokens purchased in the IDO (or increase holdings) over a certain time period.
The details for this will remain undisclosed until after the snapshots have been taken. Support the project and the project will support you!
In the unlikely event that any GFI tokens remain unsold from the IDO, these tokens will be included in the above mentioned rewards.
Information provided within this article does not represent financial advice. There is inherent risk with any cryptocurrency investment. We do not recommend purchasing tokens without first seeking professional advice.
Please do your own research before making any investment decisions; Should participation in our IDO be considered too risky based on your own personal situation, we recommend seeking alternative, cost-free methods of obtaining tokens, such as airdrops and token farming. Please use proper risk management!