The first allocation of $SPICE will take place via a Uniswap Liquidity Bootstrapping. Here are the details.
The Big Bang is the public token sale of $SPICE. The sale will have three main purposes:
- Provide access to $SPICE for the early adopter community.
- Serve as a price discovery mechanism and total supply determination.
- Collect capital for providing liquidity and the minting of $SCIFI.
The Big Bang leverages a globally familiar user experience and the ubiquitous access of Uniswap across communities and geographies as well as a multistage price discovery mechanism that is novel in its function and may become the standard in future DEX offerings.
Multistage Liquidity Boosts and a Burn
$SPICE will be distributed through a Uniswap offering, with a maximum of 8% of all $SPICE, a total of 3.36M $SPICE being made accessible. The offering period will last 24hrs. During this time Mission Control will provide a Uniswap Liquidity Pool with 700.000 USDC and 500.000 $SPICE, resulting in a floor price of $ 1.40 per $SPICE. The only $SPICE ever made accessible at that point in time will be in this pool. No $SPICE beyond that is in the market and can enter the pool.
Depending on the demand of $SPICE, Mission Control will offer “Liquidity Boosts” at 5 price discovery stages. These Liquidity Boosts will be limit-orders that will not sell below a predefined price and hence create strong higher price floors. After all limit orders at a certain price level have been executed, the uniswap pool ratio of $SPICE and USDC will determine the price until the next Liquidity Boost starts. Liquidity Boost will take place at the following price levels: $2.19, $3.89, $4.63, $5.60 and $8.75 (all USDC).
Immediately after the distribution period of 24 hours, all $SPICE tokens from the Liquidity Boosts (up to 2.86M) that have not been sold during the 24 hour distribution period will be burned, resulting in a supply contraction.
So, the lowest amount of $SPICE allocated in the Big Bang could be 500.000 $SPICE with not a single limit order executed at $1.40, while the potential maximum of $SPICE distributed could be 3.36mn $SPICE (500.000 from the initial Uniswap Pool and 2.86mn from 5 Liquidity Boosts).
This multistage (rocket) distribution mechanism will be fully steered by the community — which altitudes are reached is to be seen.
Purchase and Interfaces
$SPICE will be accessible through the Uniswap interface. The Big Bang time will not be announced prior to its start. Mission Control will initiate the Big Bang soon – stay informed by following the $SCIFI Channels. Only use the link to the Uniswap pool provided on the official channels.
The correct Uniswap link will be shared on official SCIFI channels
The Big Bang proceeds from Liquidity Boosts will be used to provide liquidity for $SCIFI as well as minting $SCIFI, i.e. acquiring the underlying constitutes and locking them into the $SCIFI smart contract.
Details of the offering
- Total supply: 42.000.000 $SPICE
- Supply on sale: Up to 3.360.000 $SPICE (8% of total supply)
- Allocation mechanism: Uniswap Liquidity Bootstrapping
- Start date/time: To be announced at launch (soon)
- Duration: 24 hours
- Interface: Uniswap
- Price: Initial liquidity provided at $1.40
- Accepted currencies: USDC