$RUST Token Explained — pt.2 Fair-Launch.
The full article was originally published by the Rusty Robot Country Club on Medium. Read the full article here.
$RUST Token Explained — pt.2 Fair-Launch.
The fair-launch of the $RUST token puts the RRCC community front and centre with an exclusive airdrop and fair-launch event hosted by our friends and partners over on ShimmerSea DEX.
On Saturday 18th November at 20:00 CET RRCC NFT holders will get a front-row seat as we launch the final piece of the RRCC puzzle, the $RUST token. Giving us the opportunity to get the ecosystem and creator economy up and running. There will be no private sale, no investor sale, no pre-sale, no ICOs, $RUST is exclusively launched into the hands of the RRCC NFT community.
In-line with the fair-launch on ShimmerSea DEX, RRCC NFT holders will also receive an airdrop of $RUST, comprising of farmed tokens from last years discord event to OG NFTs that farmed the token last year, as well as an airdrop to each individual NFT.
By launching exclusively to the RRCC NFT community we put the token in the hands of the holders. Keeping it within the community to minimalize the risk of single entity control, market manipulation, and external pump and dump strategists. Giving us a strong foundation to build upon as we progress with feature expansion and releases.
A total of 50 Million $RUST will be entered into the fair-launch, with a total fair-launch cap of 2 Million SMR (95k USD value). Once that amount is reached, the fair-launch will close.
When the NFT early access has ended after the 24 hour whitelist event, the launch will open to the general public. Entering the fair launch is possible with SMR and you will receive RUST-SMR LP.
Airdrop
An initial airdrop of $RUST token will be distributed to NFT holders split between an airdrop of farmed $RUST tokens from last years OG farming event on the RRCC Discord, and a global airdrop to all RRCC NFT holders, with OG NFT holders receiving 2x.
The fair launch event will occur across three phases:
NFT Whitelist Phase
- ONLY RRCC NFT holders can participate (snapshot will be taken 24hrs in advance on Friday 17th November at 20:00 CET)
- 24hr Duration
- Max cap per wallet 25,000 SMR
Open phase
- Anyone can participate
- 3 days duration
- No cap per wallet
Claiming Phase
- Starting shortly after the close of the fair launch
- All participants can claim their RUST-SMR LP
- Ends when all RUST-SMR LP are claimed
- Farming starts
The fair-launch may reach its cap at any phase of the event. Once the cap of 2 Million SMR has been reached, trading of SMR-RUST will be enabled on the ShimmerSea DEX shortly afterwards followed by the launch of Farming and Staking Pools.
How the airdrop works
A snapshot will be taken of RRCC NFT holder wallets 24hrs prior to the launch of the airdrop on Friday 17th November at 20:00 CET. This will affect where airdrops are sent to, with airdrops sent directly to the wallets of the current holders of RRCC NFTs.
The airdrop will release the first $RUST tokens into the world directly to NFT holders. With OG NFT holders gaining a 2x airdrop and main collection NFT holders gaining a normal airdrop. The holders of OG NFTs that farmed $RUST on Discord last year will also gain an additional drop of these tokens.
How the fair-launch works
For the launch 50,000,000 $RUST will be deposited to the fair launch pool. After this has occurred the community will have the opportunity to enter into the launch event over each phase. The community will be the sole controllers of the liquidity of the token, creating diverse ownership which is not dominated by any single entity, but by the entire community.
The maximum cap for the event is set to 2 Million SMR (95k USD value) providing a limit on the token value on launch so as not to over price the market, as soon as this cap is reached the fair launch will end.
The launch token value of $RUST will be 0.02 SMR
How to participate
All RRCC NFT holders will get exclusive access to the fair launch event. Only NFT holders gain early access. A snapshot will be taken 24hrs prior to the event launch for whitelist access of NFT holders. Each whitelisted NFT holder wallet can enter the $RUST fair-launch with a maximum of 25,000 SMR per wallet. In order for your wallet to be whitelisted it MUST hold an RRCC NFT 24hrs prior to the event launch when a snapshot is taken on Friday 18th November at 20:00 CET.
After the initial NFT whitelist phase, in the event the cap has not been reached, the fair launch will open up to a public phase. During the public phase anyone can enter the event (including previous NFT holders) with SMR, with no cap per wallet. This phase will last up-to three days.
The claiming phase follows the close of the fair launch event. In the event the cap is reached at any time during the launch event, the claiming phase will launch shortly afterwards. In this phase anyone who entered into the fair launch pool can claim your RUST-SMR LP tokens, and this phase will last until all tokens have been claimed.
Once this phase is closed, $RUST will go live trading, and farms will go live, shortly followed by staking, and additional de-fi opportunities.
$RUST token will be the cornerstone of the creative ecosystem on Shimmer and will drive us forward as a project and an community. Our partnership with ShimmerSea, the leading DEX in the ecosystem, provides us with solid grounds to build a strong creator economy that brings immense value to the RRCC, NFT holders, ShimmerSea DEX, and the Shimmer ecosystem as a whole.