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Liquidity Bonding Event
Top Fi is changing the game.
Top Fi is proud to introduce our Liquidity Bonding Event. The Liquidity Bonding Event (LBE) gives the community complete control over the protocol in a transparent manner. Top Fi DAO can acquire its own liquidity and other reserve assets, such as wETH, by issuing $TOP at a discount in exchange for these assets. The protocol quotes the minter on conditions such as the mint price, the number of $TOP tokens the minter is entitled to, and the vesting duration. The minter can claim some of the rewards ($TOP tokens) as they vest, and the whole amount will be claimable at the conclusion of the vesting term.
For the LBE, discounts will vary depending on community role and the total amount of assets deposited. The discount structure is as follows: OGs receive the largest discount, followed by 888 members with the second largest discount, and the public receives the smallest discount. The size of discount difference between the varying roles will not be overly significant. The LBE will allow OGs 24 hours to participate before opening up to 888 members. 888 members will then have 24 hours before the LBE opens to the general public. The protocol will go fully functional on Sunday February 5th. Price will be driven up via the funds from the LBE and liquidity will be added. One thing to note is that due to the fact that the community will be receiving the official $TOP token, the price will swang vastly as some uneducated members try to buy and sell the illiquid token. It needs to be noted that the team will set the initial liquidity will be added at a higher price point then the public bonds when the protocol is ready to go live. Liquidity added will be a minimum of 50% of total LBE funds.
It is important to note that initial liquidity set by the team is $100 DAI to 1 $TOP.
The two bonds available for the LBE are DAI and wETH.
Last modified 1mo ago