Phase I - The Rise of the Divine OX
Alpha and Omega would not be without the support of the Alpha and Omega community. Rather than giving early access to investors or selected elite groups, we want everyone in the Alpha and Omega community to have a fair chance of participation.
Introducing Liquidity Bootstrap Event (LBE) for OX, the governance token for the Alpha DAO.
Our LBE will be open for all. Similar to the Olympus IDO, the Alpha LBE will be the main source to provide initial liquidity and the treasury’s initial backing for OX.
50,000 OX tokens will be minted for the event. The initial price of the OX token will be 10 BUSD/OX for whitelisted addresses.
This will result in $500,000 worth of BUSD in total sales from the LBE.
The first $300K BUSD will be used to bootstrap the liquidity and provide initial treasury backing for the OX token.
$200,000 BUSD will be paired with 10,000 OX tokens on PancakeSwap, establishing the initial extrinsic price of $20 BUSD per OX with initial liquidity of $400,000.
$100,000 BUSD will be deposited into the treasury, backing the initial OX supply.
This will be done within 24 hours after the LBE event.
We will announce the exact time when the initial liquidity will be added, providing total transparency to our community.
The $400,000 worth of LP tokens will be deposited to the treasury via a prolonged and controlled bonding process, with 1/100 a time across 100 epochs.
The balance of $200,000 BUSD will be used to support the Alpha and Omega marketing and development work. We believe this is essential for promoting and maintaining the health of the Alpha and Omega protocols. Only the funds exceeding the initial $300,000 will be used for the development. That means, that if the total funds raised from the LBE is only $350,000, $300,000 will be used to initial liquidity and treasury backing, and $50K will be used to support development work.
We are going to be 100% transparent with the Alpha and Omega community. We are proposing a fixed rate round only to ensure the Alpha and Omega DAO can be sustained. Future development work can be funded via the Alpha and Omega DAO through a DAO voting procedure.
We plan to launch the bonding function within 48 hours after the LBE event. We will target a 10% discount positive ROI for bonders across the board for both the OX-BUSD LP pool and the BUSD pool.