TLDR:
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Pike token generation and distribution took place on 9/30/2024 17:57 UTC
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110,761,849.83 Pike tokens distributed to 3,681 Presale Participants
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Presale Participants will receive 50% of the tokens subscribed; the remaining 50% will vest monthly over 6 months after a 3 month cliff
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Pike tokens will be distributed automatically to the same wallet addresses used for the presale contribution
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Pike token format is ERC-20, and the initial trading venue will be Aerodrome on Base
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Pike token address on Base: 0x25e1c298F100d7C600E9e44d46788C1Ebbd4f69B
Objective
Like any first-rate plot, it is filled with tests, obstacles, and setbacks. But this is not the end of Pike’s story. Q3 was our transformation phase in terms of mindset and approach to building, which entails much internal work around team restructuring, product redesign, and vision/mission realignment.
As we prepare for an exciting start to Q4, the theme of the plot is our road to resurrection. We are optimistic for a monumental quarter as we prepare for the relaunch of Pike and the activation of go-to-market initiatives.
This also marks an opportune time for us to carry out the token generation event and distribute the Pike token to our Presale Participants and Advisors. As communicated extensively via our Community AMA on 9/19, we are implementing a new playbook for the Pike token launch.
The existing playbook for launching utility tokens creates a significant incentives misalignment between stakeholders (ie. fabricating a short-lived liquidity capture event based on progress to date). Our approach is to enable long-term stakeholders to capture progressive upside as Pike continues to develop and grow. In our opinion, the token is a standalone product and it needs to be treated as a constant work-in-progress, rather than a finished product upon token generation event. Ultimately, we wish to create an opportunity where long-term stakeholders’ incentives are fully aligned with Pike's long-term roadmap and success.
Pike Tokenomics
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Ticker: P
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Token format: ERC-20
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Initial circulating supply: 358,450,000
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TGE Circulating Supply: 16.75%
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Vesting: 83.25% are initially locked, which will unlock over 48 months per vesting schedule below
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Initial trading venu:
Pike Token Contract
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Token contract address: 0x25e1c298F100d7C600E9e44d46788C1Ebbd4f69B
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Base scan - https://basescan.org/token/0x25e1c298F100d7C600E9e44d46788C1Ebbd4f69B
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TGE distribution TXs - https://docs.google.com/spreadsheets/d/1IC9wILUEXoma-q3-rpa9dIYL-Pfms9H3gXtvT1rGfD4/edit?gid=126959829#gid=126959829
Foundation Treasury Distribution Details
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Presale tokens come from the Foundation Treasury allocation
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110,761,849.83 Pike tokens distributed to 3,681 Presale Participants
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50% of the subscribed tokens were distributed, and the remaining 50% will vest monthly over 6 months after a 3 month cliff period
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Pike tokens will be distributed to the same wallets used to make contributions. No claiming is required
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Community Presale Contribution and Distribution Checker
Advisors Distribution Details
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4,614,375 Pike tokens to be distributed to 11 Advisors
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25% of the allocated tokens will be minted; the remaining 75% will vest monthly over 12 months after a 6-month cliff period
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Unallocated tokens will be transferred to a team multisig for future use
Strategic Partners & Ecosystem Distribution Details
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Strategic Partners & Ecosystem allocation currently remains unallocated
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85,600,000 Pike tokens will be minted and transferred to a team multisig for future use
Community Treasury Distribution Details
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As part of the restitution plan, an insurance fund was established where 4% of the total token supply (coming from the Community Treasury allocation) would be used as collateral to borrow stablecoin funds from the Team treasury in the form of a loan
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8,560,000 Pike tokens, which make up 10% of the restitution supply, will be minted and transferred to a team multisig
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Once the stablecoin loan is repaid, the minted Pike tokens will be returned to the Community Treasury
If you come across any issues with the amount of tokens received, please contact us via Discord.
Resources
About Pike:
Pike is a Universal Liquidity Protocol; it is designed to unleash utility for native assets by aggregating liquidity across blockchain networks.
Pike’s vision is to become a universal liquidity layer that enables frictionless movement and accessibility of native assets across ecosystems. Pike is built on top of Wormhole’s Cross-Chain Data Messaging and Circle’s Cross-Chain Transfer Protocol (CCTP), and utilizes Pyth Network’s Price Feeds.
Learn more at: https://www.pike.finance/
Join the Discord at: https://discord.gg/pikefinance