About MarsColony IDO campaign (Reasons and conditions)

Hey Martians :vulcan_salute:

We just received the feedback that the reasoning and conditions about the upcoming IDO campaign haven’t been communicated well to the community. Let me fix this up.

Reasons

Based on our experience of launching a Settler on Harmony. In the first several days/weeks after the Mainnet launch, we might expect huge buying pressure for the pCLNY tokens. Simply, there will be thousands of landlords wanted to upgrade their lands to improve their position inside Colony.

There was made a strategic decision. To make IDO and sell $100k equivalent of pCLNY tokens. And use all those tokens to set up initial liquidity before the Mainnet launch.

So when MarsColony Polygon is live, there is available liquidity pools for pCLNY.

Conditions

Launch partner → Infinite Launch
Funds to raise → ≈ $100k
Pre-minted pCLNY ≈ 300k pCLNY when

  • 50% goes to IDO sell that will be distributed via Launchpad (it’s not Launchpad commission)
  • 50% will be matched with raised funds (for the liquidity)
  • 100% of pre-minted pCLNY will be set up in the initial liquidity pool

*Launchpad success fee is 7% of raised funds

Thank you to everyone who brings the concerns to the table. It helps us to keep project transparency on the highest level :heart:

2 Likes

Stupid
Why to give 50% money to launchpad when all the marketing is from our side (if launchpad owners are your friends than that’s reasonable)
I know lainchpad is good for project but giving them 50 % for just hosting about this project is not smart move

3 Likes

Isn’t 50% waaaaaaay too much?

1 Like

This project is only in name of decentraliz but only admins make decisions like
Not bringing harmony colony to polygon (makes harmony colony worthless)
Giving away free money to launchpad
Not asking for vote lol
There slogan is claim land earn clny govern colony lol pure hypocrisy

4 Likes

Luckily the community noticed. Would have been a real bummer to do an IDO and not tell Harmony about it. Although would have been interesting to see the confusion when harmony people who bought poly plots get dumped on after public launch.

I’d be interested in the reasoning behind a bsc launchpad. The partnership with polygon was mentioned a lot and the project bent to poly’s demands so far. Wouldn’t poly prefer a launch on one of their native launchpads? Iffy.

2 Likes

Not really happy with that too.
Launchpad too expensive. And why not a chance for harmony investors and CLNY holders / farmers to benefit in any way of the new pCLNY?

2 Likes

Hey @jaydips53759829 please do not spread fraud :angry:

From where did you get this information? (please elaborate)

The Infinitelaunch success fee is 7% of the funds they raise.

2 Likes

image
This part caused the confusion.

Everyone can participate!

Please elaborate it too :pray:

1 Like

Oh @joeok. Let me explain in another way.

  1. 300k pCLNY is preminted
  2. 150k pCLNY will be sold on the launchpad and raised ≈ $100k
  3. then another 150k pCLNY will be merged with ≈ $100k and set up in the liquidity pool

Is this way of explanation more clear? :thinking:

2 Likes

Hey your post dosen’t get much info

Yes this is clear but why use bsc launchpad? When token is on polygon chain

1 Like

You are aware that the 50% percent (150k tokens) is not their payment but the amount of tokens they will distribute via launchpad, right?

2 Likes

@father I guess so, the 7% are taken from the $100k? Because then it’s $93k set up in the liquidity pool, right?

1 Like

So far we execute the road map as we planned for building a multiverse. If you do not agree with the current road map please bring your suggestion, and research that you want to implement beside that part that was published.

We will be much much happier if Landlords will contribute to the project development since they control the token supply.

1 Like

Yep, this is why I try to use the sign “≈” to give an approximate understanding on what we do and why.

If you guys think that Mainnet should be launched without initial liquidity, I want to hear arguments and suggestion how to make it better.

Yep, sorry. Making it clearer.

Thats their requirement. In the end that money will be swapped to Matic. And initial liquidity will be Matic <> pCLNY on Polygon chain.

Hey father, got explanation from eugene in discord and dont get me wrong this type of mistake get my heart to spike​:joy::joy::joy: i am cool with that sending some money to bsc to buy some sweet colony

1 Like

Hey @joeok let me comment on this also.
Regarding using BSC for the launchpad, it’s not on our pate. It’s on the Infinite user’s request as I get. On our side, everything will be swapped to Polygon. See the quotation of their team:

" bsc is for investors’ covenience during the fundraising process, which encourage more investors to join the public aale. This won’t affect the fact that pCLNY will be launched and distributed on polygon network"

Regarding communicating IDO to the community.
I think we didn’t do it well. This is something we will discuss with the team internally and learn from our mistakes.

We are thinking about some ideas on how creators can communicate ideas directly and on time. Keep posted about it.

Yeah, sorry for that. We will improve the way we communicate, for sure.

1 Like