Fair Funding Campaign
Update: Due to some delays from 3rd parties involved in the audit process, we won’t be able to launch the Fair Funding Campaign as initially planned before the tokensale.
How Unstoppable is running the first Fair Funding campaign with the help of Alchemix
A little while ago we at Unstoppable came up with a new way for early stage crypto projects to raise funds in a fair way that limits the downside exposure for early investors (original article).
The basic concept is based on Alchemixs self-repaying loans and a daily auction similar to NounsDAOs auction model, that offers benefits to early investors in the project.
The Fair Funding concept was specifically developed for early stage crypto projects that need to raise some funds but do not want to sell a token that doesn’t have any utility yet.
Fair Funding for Unstoppable
Things moved pretty fast for Unstoppable since we first came up with the Fair Funding concept, and since then we have not only shaped our mission to completely replace centralized exchanges, but also have now an actual use case and utility for a native token $UND.
Unstoppable will still be the first project to run a Fair Funding campaign, before opening up the platform to other projects that want to raise money in a fair way, benefitting their early community while limiting their downside risk.
The Unstoppable Fair Funding Campaign will start early March, right after audits and UI development are completed.
The benefit you can bid on is an exclusive bonus in the upcoming $UND tokensale.
This will be the only way to get an exclusive bonus in the upcoming tokensale that is not available to others!
How it works
There will be exactly 16 Fair Funding spots that are up for auction over 16 days, each offering a unique bonus for the $UND tokensale, ranging from 10–25%!
Every 24h there will be 1 spot up for auction and the highest bidder will win the bonus — all while retaining complete control over his funds that are put into Alchemix.
Quick Facts
- 16 Fair Funding Spots up for auction
- Winner receives the right for a 10–25% bonus in the $UND tokensale happening shortly after (end of Q1/march)
- Winner on day 1: 10% bonus, Winner on last day: 25% bonus
- Happening on Ethereum Mainnet (due to the Alchemix WETH vaults being located there)
- Minimum bid: 1 WETH
- Highest bidder after 24h wins (last bid extends auction by 15min if necessary to prevent sniping)
- If someone outbids you, your WETH bid is automatically refunded and sent back to your wallet.
- Winning bid WETH is sent to Alchemix and a 50% non-liquidatable, self-repaying loan is taken out and sent to Unstoppable as Fair Funding
- Winner receives an ERC721 token as receipt that also retains full control over his funds deposited at Alchemix
- Holder of this ERC721 can over time reclaim the WETH as Alchemix pays off the loan until 100% is paid back
- Holder of this ERC721 can also at any point decide to liquidate his Alchemix position getting back the original WETH minus the outstanding loan (50% initially)
- Bonus is capped at the winning bid amount (i.e. if the winning bid for the 10% bonus is 12 WETH, the winner will receive 10% bonus up to a total of 12 WETH worth of bonus).
- Contracts are currently being audited by https://sherlock.xyz
How to participate
- Bid in the auction and win to secure yourself an exclusive bonus
- Buys $UND in the tokensale
- Receive your bonus in extra $esUND tokens
Links & Resources
- Alchemix https://alchemix.fi/
- Unstoppable: https://unstoppable.ooo
- Unstoppable Litepaper & Tokenomics: https://www.unstoppable.ooo/unstoppable_litepaper_v0.1.pdf
If you have any questions don’t hesitate to contact the team directly on telegram or discord: http://linktr.ee/UnstoppableDeFi
