Elysian Fair Launch Event

Introduction

We want Elysian to be ran by the community and we are taking every step to engage our audience in the building process. It’s now time to bootstrap the treasury to back the initial supply and we are entering the preparation phase for the fair launch event. Those who were lucky and got in early had the opportunity to participate in the pre-sale, which saw the distribution of “pre-Elysian” (pLYS), a call option like instrument that can be redeemed for Elysian (LYS) by depositing RFV ($1) in the treasury. The upcoming token distribution is different and will see the sale of a fixed quantity of Elysian (LYS) priced at a multiple of the RFV.

TL/DR

• 80,000 LYS will be offered for sale
• The offering price will be $2.5 per LYS
• The AMM pool will open at $7.48 with $240k liquidity
• Only staking will be enabled at launch. Bonds will be added successively.
• Fair launch event has been postponed and new dates will be announced soon.

Fair launch event

If you are a non-US/UK, or non-US/UK sanctioned country citizen and you were whitelisted for the initial pre-sale, you are entitled to participate in the fair launch event. If you were not whitelisted, you can apply on our official website. We will stop taking submissions on A̶p̶r̶i̶l̶ ̶1̶4̶ (deadline extended), so be sure to apply before then.

The initial supply of LYS will be 96,022.1409, of which 80,000 will be offered for sale and 16,022.1409 will be added as initial liquidity. The initial supply was inspired by the Avogadro constant. Participants will be able to buy up to their pro-rata share of the offering, if some people buy less than their allocation, everyone who has not yet bought will see their share increase.

The sale will take place f̶r̶o̶m̶ ̶A̶p̶r̶i̶l̶ ̶1̶5̶ ̶t̶o̶ ̶A̶p̶r̶i̶l̶ ̶1̶8̶ (new dates will be announced soon), you can buy LYS during this time if you were whitelisted b̶e̶f̶o̶r̶e̶ ̶A̶p̶r̶i̶l̶ ̶1̶4̶ (deadline extended). Initial price will be $2.5 per LYS. Proceeds of the sale will be used to back the initial supply and provide initial liquidity.

If the totality of the tokens are sold, the sale will bring in $200,000, of which, $80,000 will be deposited to the treasury to back the initial supply (RFV) and $120,000 will be added as initial liquidity . The LP will open with $120,000 DAI and 16,022 LYS for a starting price of $7.48 and an initial liquidity of $240,000.

Trading will open between A̶p̶r̶i̶l̶ ̶1̶9̶t̶h̶ ̶a̶n̶d̶ ̶A̶p̶r̶i̶l̶ ̶2̶0̶t̶h̶ (new dates will be announced soon).

Initial functionality

The main focus on the fair launch event is to bootstrap the treasury activities and to back the initial LYS supply. Functionalities such as OTC for bonds and inverse bonds and vote escrow will not be available until later time. Only staking and bonding will be active at launch.

Liquidity boostrap

The focus on the fair launch event is getting the token (LYS) on as many hands as possible and with an even distribution. On top of this, the priority is on bootstrapping the liquidity on chosen AMM markets (Uniswap, Sushiswap). At the time of initializing the pool, we will receive LP tokens. The treasury will determine the RFV value of the LP at about a third of the market value of the tokens comprising it. To avoid massive profits being distributed on first epochs, and the risk of a pump and dump scenario, we will deposit the liquidity gradually. Each epoch, starting from epoch 10, will see 1/100th part of the liquidity added to the pool automatically. This should help maintain a reasonable APY during the bootstrap phase and avoid liquidity draining.

Risks and conclusions

The system is highly experimental and comprised of several moving parts. Our contracts have not yet been audited, although we make use of heavy testing, there is a non-zero probability that bugs and security issues will be found. If you are not comfortable with this, abstain from participating at this stage.

Elysian Finance

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https://elysian.finance | info@elysian.finance

Legal Disclaimer

The information provided in this Medium Post pertaining to Elysian Finance. (Elysian Finance or the “Company”), its crypto-assets, business assets, strategy, and operations, is for general informational purposes only and is not a formal offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction and its content is not prescribed by securities laws. Information contained in this Medium Post should not be relied upon as advice to buy or sell or hold such securities or as an offer to sell such securities. This Medium Post does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. Elysian Finance and its agents, advisors, directors, officers, employees and shareholders make no representation or warranties, expressed or implied, as to the accuracy of such information and Elysian Finance expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. Elysian Finance reserves the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained in this Medium Post supersedes any prior Medium Post or conversation concerning the same, similar or related information. Any information, representations or statements not contained herein shall not be relied upon for any purpose. Neither Elysian Finance nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this Medium Post by you or any of your representatives or for omissions from the information in this Medium Post. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed in this Medium Post.