Dear Community,
Following our first launches, with many more projects lined up for the future, we are thrilled to unveil the next chapter of SuperchainOne offerings. We are excited to reveal the new offering mechanic: meet the S1 Launchpool.
What is a Launchpool?
A launchpool is a decentralized finance (DeFi) mechanism that enables users to stake their tokens for a specified period in exchange for rewards or privileges related to a newly launched project or token. In our case, these would be the new projects launching with S1.
How does the S1 Launchpool work?
It is pretty straightforward. You lock tokens for a specified period of time and receive new tokens launched on S1. Stake/lock tokens = get rewards. The best part is that new tokens are free; you do not need to purchase your allocation, as it is a drop. The more you stake, the bigger your part of the pool, and the more tokens are dropped to you.
First Launchpool details?
The first project to pioneer the SuperchainOne Launchpool will be the S1 native token. The offering will run in $MODE. For this stage, we offer 3% of the total supply divided among all Launchpool participants. There will be one pool with a 30-day lock; you will have 6 days to lock your $MODE. After the deadline, you won’t be eligible to join the Launchpool. The pool has no token cap, just a time lock.
Let's have an example:
(DISCLAIMER: Numbers in this example are just for explaining purposes)
Total offering: 3,000,000 S1Lockup period: 30 daysTotal $MODE staked: 30,000,000 $MODEUser A: locks 3,000 $MODEUser B: locks 30,000 $MODE
The total offering will be divided by the total $MODE staked in the pool:
3,000,000 S1 tokens / 30,000,000 $MODE = 0,1 S1 token per $MODE staked.
User A gets: 3,000 $MODE x 0,1 = 300 S1 tokensUser B gets: 30,000 $MODE x 0,1 = 3000 S1 tokens
Users can withdraw their $MODE tokens after the 30-day lockup ends. The exact timings of further offerings and details about S1 token will be announced at a later stage. For now, it is the only way to get your hands on the S1 token.
What are the advantages of S1 Launchpool?
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Free tokens: lock $MODE and get new tokens. No purchase is required, new tokens can be claimed at TGE.
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Mode points multiplier
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Priority whitelist access to token sales on S1 launchpad
What is the timeline (updated)?
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Launchpool/Deposit start: Thursday, May 9th, 3 PM UTC
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Deposit period end: Wednesday, May 15th, 3 PM UTC
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$MODE unlock: 30 days after your deposit
We will take a snapshot of the locked $MODE, and you can withdraw it after the lockup period ends. You can then redeem your earned S1 tokens at TGE.
This is the only way to obtain the S1 token. We will announce more details about the next steps closer to the end date of the lockup period. There will be more opportunities in the future to obtain S1 tokens, but the first launchpool will offer the best reward per locked $MODE.
The earlier you are with us, the more you get. Loyalty matters.
See you on Thursday at 3 PM UTC on s1.xyz.
Official links:
Website: https://www.s1.xyz/