Launchpad Announcement

It is with great pleasure that we are announcing the official opening of the Gravity Finance Launchpad!

Since running our own successful token sale back in May 2021, we have been working hard to build on top of this success and develop a powerful, secure, flexible and trustless IDO platform to offer new projects. We identified the need to offer various IDO models and supporting DeFi features, along with flexibility and rapid deployment capabilities.

When new projects sign up for a Gravity IDO, they can choose their preferred IDO model and also opt-in to the various other Gravity offerings (liquidity pools, farms, vaults etc).

Should they opt-in to any of these additional offerings, everything is handled by our IDO Factory smart contract. Upon IDO completion, these optional extras are created automatically by the contract. For example, liquidity pools can be added to the Gravity Exchange, this liquidity is always owned by the project but is locked for a predetermined period to help prevent rug pulls.

All of these processes are handled without the Gravity team ever having access to the project’s tokens or funds raised in the IDO.

Even the setup process is 100% trustless. The Gravity team creates a proposal in the IDO Factory which can be accepted by the project. Once accepted, all token requirements are deposited into the contract by the project team as their approval. The Factory then deploys the IDO.

Based on the project’s requested features and the amount to be raised, we offer a sliding scale of commission that is paid to the Gravity Governance (GFI holders). It varies between 5% and 10% by default, but all details remain negotiable. Upon IDO completion, the agreed commission is also distributed and requires no manual processing by either of the teams.

If you represent a project that you think is suitable for launching with Gravity, we encourage you to contact us to discuss options and eligibility.

At first we are able to offer the following IDO models:

IDO Types

First Come, First Served (FCFS):

As the name implies, first come first served IDO’s offer a fixed supply of tokens for purchase and are issued to the participants as each transaction is processed. When all of the tokens have been purchased, or when the IDO time ends, the IDO contribution period closes and claims open/tokens are distributed to the participants who contributed in time.

Guaranteed Fixed Price Proportional Allocation:

A guaranteed fixed price proportional allocation ensures that every single person who contributes is guaranteed to get an allocation of tokens, however, in the event the IDO is oversubscribed everyone who contributed will receive fewer tokens and a partial refund on their contribution.

Example: Assume a project is set to raise $100,000 but actually gets contributions of $200,000 during the IDO participation window. The IDO would be oversubscribed by a factor of 2.

In this event, each user would be refunded half of their contributed USDC and would receive a half-allocation of the tokens instead of a full-allocation.

This method ensures that all participants “get something” in the IDO and no one misses out, this method is seen as one of the more “fair” methods for allocating tokens in an IDO.

Lottery:

A lottery type IDO has a set number of token allocation “slots”. IDO participants essentially purchase tickets and after the participation window closes the allocations are picked at random (using on-chain verifiable randomisation, such as Chainlink VRF). The tickets that are picked are filled for full allocation and any unpicked tickets are refunded in full.

User Requirements

Each IDO launched on the Gravity Launchpad will utilise GFI Tiers in some way.

In some cases this may be to allow users with a GFI tier to contribute a larger sum to a guaranteed allocation type IDO, or to purchase additional tickets in a lottery, or to have early-access in a FCFS.

When each IDO is officially announced, the method for the IDO will be announced, along with the benefits of each GFI tier specifically for the IDO project that is launching.

Some IDOs may be open to all users, not just GFI tiers, but in almost every case there will be some benefit for the GFI tier holders over non-tier holders, and higher tiers will benefit more than lower tiers.

GFI Tiers

At the time of writing this article (24th October 2021), the current tiers are as follows.

Tier 1: 50,000 GFI

Tier 2: 250,000 GFI

Tier 3: 500,000 GFI

Users will be able to check their IDO Tier Status on the token sale page which will be live very soon.

Note: IDO Tier Status has different requirements to the general Tier Status.

To receive tier eligibility, a user must hold GFI tokens equal to or greater than the numbers above, in an “Approved Gravity Smart Contract”, approved contracts at this time include GFI Vaults (details can be found in the Gitbook under GFI Holder Benefits).

GFI tokens held in a personal wallet or liquidity pool do not count towards IDO Tier Eligibility.

When Launch

We are also excited to announce that the first project launching on the Gravity Finance Launchpad will be a new Generative Art platform called Meraki and the UI is now live.

In the last 12 months, Generative Art on the Ethereum network has produced $1,000,000,000+ in primary and secondary sales.

Meraki will be the first generative art platform on the Polygon blockchain. Launching on Polygon helps to eliminate expensive gas costs and gas wars that have plagued Ethereum platforms for far too long.

The Meraki platform will also focus on the artist and user experience, with a professionally designed high-end user interface that will allow the artists more control over their creative process and their account, and users an overall better experience compared to other platforms.

The Meraki IDO at Gravity will be for the Meraki Token, which doubles as an NFT that allows token holders to share in the platform profits.

For full information about the Meraki IDO and the Meraki Project please see our announcement post on Medium.

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