UPDATE: Deposits for the Pre-Launch Program are now live!

Earlier this week, we shared our goal of making Liquis the premier venue for providing liquidity to Bunni and Uniswap v3. Today, we’re excited to share the details of the Liquis Pre-Launch Program. It will be the first opportunity for users to earn their role in the Liquis community, as well as playing a key role in bootstrapping the protocol’s liquid wrapper.

At a high level:

• Pre-Launch Program will run from July 26th to August 30th.

• Users will be able to commit LIT or BAL-20WETH-80LIT in exchange for liqLIT

• 2% of LIQ supply will be distributed to participants with a six-month vesting

• Earlier participants will earn an outsized amount of those LIQ rewards

Pre-Launch Overview

The goal of the Pre-Launch is to accumulate veLIT for Liquis. Users who participate will receive the Liquis liquid wrapper for veLIT, liqLIT, in exchange for contributing either of the following assets:

• LIT

• BAL-20WETH-80LIT

The Pre-Launch will run from July 26th to August 30th, with the first week serving as a warm-up period in which no rewards are to be distributed. Deposits made during this period are final, except in the event that Timeless Finance governance votes against approving Liquis as a liquid locker of veLIT. Please note that liqLIT is not a redeemable asset and that it will be impossible to recover your deposit once program deposits are converted to veLIT.

Users who participate in the Pre-Launch Program will be eligible to receive a portion of the 2% of LIQ supply set aside for it. This LIQ will be distributed disproportionately over the course of the program’s four reward epochs as such:

• July 26th - August 2nd: Warm-Up Period, No LIQ Rewards

• August 2nd - August 9th: 0.8% of Total LIQ Supply

• August 9th - August 16th: 0.6% of Total LIQ Supply

• August 16th - August 23rd: 0.4% of Total LIQ Supply

• August 23rd - August 30th: 0.2% of Total LIQ Supply

For example, a user who commits 10% of the LIT deposited in that first week would receive 0.08% of total LIQ supply, whereas the same user making the same relatively-sized commitment in the fourth week would only receive 0.02%.

Users who receive LIQ from the Pre-Launch Program will be subject to a six-month linear vest starting from the launch of Liquis protocol.

What to Expect Next

Over the coming days, you can expect to hear more about our documentation, first audit report, and launch of the Liquis Discord server!

Make sure to give us a follow on Twitter to stay in the loop, as well as subscribing to our Mirror below. And if you’re a DeFi project interested in partnering closely with Liquis, our Twitter DMs are open.