definapkin
0 Following
0 Followers
0 Liked
0 Shared
Posts
PlasmaFDN raise details based on rough understanding:
The headline figure is:
> 10% of total XPL supply sold in the public sale
> Vault deposits now capped at $1B
> Vault deposits do not purchase tokens
> You still must separately commit new stablecoins to buy XPL, based on the allocation your vault deposit earned
If $1B ends up deposited into the vault (and everyone also later purchases their allocation), u effectively commit capital twice:
> Vault Capital (time-weighted → earns allocation rights)
> Purchase Capital (fresh stablecoins → buys tokens based on your allocation)
The public sale terms remain unchanged: $50 million will be sold at a $500 million fully diluted valuation.
But the vault deposit is not counted toward that $50M. Its separate and sits idle (earning yield) until bridged to Plasma and returned to users as USDT that u can withdraw on the Plasma chain.
Where Does the Vault Capital Go?
> Is never used to buy XPL
> Is converted to USDT
> Bridged to Plasma
> Becomes claimable on mainnet
> Earns yield in the meantime, which goes back to users
So the vault pretty much serves 2 purposes:
> A time-weighted “proof of interest” to allocate the public sale
> A bootstrap mechanism for stablecoin liquidity on Plasma mainnet
It’s a staking filter to get access to the actual token sale.
The headline figure is:
> 10% of total XPL supply sold in the public sale
> Vault deposits now capped at $1B
> Vault deposits do not purchase tokens
> You still must separately commit new stablecoins to buy XPL, based on the allocation your vault deposit earned
If $1B ends up deposited into the vault (and everyone also later purchases their allocation), u effectively commit capital twice:
> Vault Capital (time-weighted → earns allocation rights)
> Purchase Capital (fresh stablecoins → buys tokens based on your allocation)
The public sale terms remain unchanged: $50 million will be sold at a $500 million fully diluted valuation.
But the vault deposit is not counted toward that $50M. Its separate and sits idle (earning yield) until bridged to Plasma and returned to users as USDT that u can withdraw on the Plasma chain.
Where Does the Vault Capital Go?
> Is never used to buy XPL
> Is converted to USDT
> Bridged to Plasma
> Becomes claimable on mainnet
> Earns yield in the meantime, which goes back to users
So the vault pretty much serves 2 purposes:
> A time-weighted “proof of interest” to allocate the public sale
> A bootstrap mechanism for stablecoin liquidity on Plasma mainnet
It’s a staking filter to get access to the actual token sale.
PlasmaFDN raise details based on rough understanding:
The headline figure is:
> 10% of total XPL supply sold in the public sale
> Vault deposits now capped at $1B
> Vault deposits do not purchase tokens
> You still must separately commit new stablecoins to buy XPL, based on the allocation your vault deposit earned
If $1B ends up deposited into the vault (and everyone also later purchases their allocation), u effectively commit capital twice:
> Vault Capital (time-weighted → earns allocation rights)
> Purchase Capital (fresh stablecoins → buys tokens based on your allocation)
If 10% of XPL is purchased for, say, $100M in new capital, and 10% = $100M, then FDV = $1B.
But the vault deposit is not counted toward that $100M. Its separate and sits idle (earning yield) until bridged to Plasma and returned to users as USDT that u can withdraw on the Plasma chain.
Where Does the Vault Capital Go?
> Is never used to buy XPL
> Is converted to USDT
> Bridged to Plasma
> Becomes claimable on mainnet
> Earns yield in the meantime, which goes back to users
So the vault pretty much serves 2 purposes:
> A time-weighted “proof of interest” to allocate the public sale
> A bootstrap mechanism for stablecoin liquidity on Plasma mainnet
It’s a staking filter to get access to the actual token sale.
The headline figure is:
> 10% of total XPL supply sold in the public sale
> Vault deposits now capped at $1B
> Vault deposits do not purchase tokens
> You still must separately commit new stablecoins to buy XPL, based on the allocation your vault deposit earned
If $1B ends up deposited into the vault (and everyone also later purchases their allocation), u effectively commit capital twice:
> Vault Capital (time-weighted → earns allocation rights)
> Purchase Capital (fresh stablecoins → buys tokens based on your allocation)
If 10% of XPL is purchased for, say, $100M in new capital, and 10% = $100M, then FDV = $1B.
But the vault deposit is not counted toward that $100M. Its separate and sits idle (earning yield) until bridged to Plasma and returned to users as USDT that u can withdraw on the Plasma chain.
Where Does the Vault Capital Go?
> Is never used to buy XPL
> Is converted to USDT
> Bridged to Plasma
> Becomes claimable on mainnet
> Earns yield in the meantime, which goes back to users
So the vault pretty much serves 2 purposes:
> A time-weighted “proof of interest” to allocate the public sale
> A bootstrap mechanism for stablecoin liquidity on Plasma mainnet
It’s a staking filter to get access to the actual token sale.
Login to explore more contents