A Follow-Up and Explanation to SecureDAO’s Launch Process

It’s been a while since we last talked, but we have a lot of updates and news for you all!

While the market fell, and other projects launched, we remained at work. Everyone in the SecureDAO team wants to have the best launch, and Reserve Currency out there. We have put our all into the project and want to thank everyone who has stayed with us since we have started. Launch is coming close and we want to discuss in this article all of what SecureDAO has to offer!

What Makes SecureDAO so Great?

For the average investor, it may seem next to impossible to invest into projects while they are still in their early stages, let alone when they are at the ground-level of development. These types of investments are generally restricted to VCs, Angel Investors, and the founding team. However, SecureDAO aims to change this norm and have a completely fair launch process, where those that were early only get a slight head start, while others still have the opportunity for substantial profits. SecureDAO conceptualizes a revolutionary approach, in which this gap can be bridged.

We are planning a great future with our community and want all sides of the project to prosper. With many of the methods such as bonding/staking that Olympus DAO first introduced, being formed around a fork of the Olympus DAO protocol, we are able to take what makes them great, but to also improve upon their flaws by fixing bond rates, UI and UX in all aspects.

Launch Procedure and Details

Phase 1 (24 hours): All whitelisted users can deposit MIM for the public and private sale. There will be a few limitations/details needed to know.

  • There will be a form that will be sent by a team member in the server to a channel only members with the OG role can access. This will be the way to get into the presale.
  • The max contribution will be $500 in MIM per wallet (For the private and public sale). Any amount of money is able to be deposited. If it is less than $500, the leftover amount will be made available to the remaining non-whitelisted buyers.

Phase 2 (24 hours): This is the period after the private sale ends. In this period people who were not on the whitelist can enter into the presale if there are any leftover funds that haven't been filled yet. Once the presale fills, this period will be for questions to be answered and for everyone to prepare for the tokens to be released to the market!

Phase 3: Everyone can claim their tokens, and normal market action will start. However, the first day of rebases will provide a higher apr to promote more members to join! This ensures SecureDAO to have a strong foundation and a long lifetime. After all, we are here to be a major protocol, we don’t want to be a short-lived project.

First Week After Launch

We will have an extremely eventful week following our launch, consisting of high APYs, community parties, and multiple giveaways.

To start, once trading begins users will have the option to either bond or stake, however, the first 3 rebases will have a boosted apy for staking. Each of the first 3 rebases will have a 3% expansion, leading to rewards totalling 9% over the span of the first day for all SCR being staked.

In this period of heightened apy, SecureDAO is planning to promote the high apy and host a giveaway (details later on) to bring in as many new members to experience security the right way.

Also, during the initial launch period, bonds will be MIM and MIM-SCR, however, many more will be added, where the DAO will be able to vote on what tokens/lp’s to add!

Lastly, the presale price will be at 100$ per SCR. Once the presale ends and SCR is traded publically, it will list at $137 per SCR!

Also, in the next day or two (December 5/6), the SecureDAO team will set up a form for OG users in the discord server, to get whitelisted for the presale.

Compensation Splits

To ensure transparency to the fullest for all of our community members below is a full rundown of where all the funds will go.

Presale Allocations:

  • 70% of the funds raised will be used to fund the initial liquidity of the project.
  • 20% of the initial funds will be put into the Treasury to ensure longevity in the rewards and increase the total runway.
  • 10% will be split among team members for initial compensation.

Protocol Compensations:

  • The team will recieve a replica token called pTokens which will be released to the team over the time of the project.
  • 1000000 pTokens will be reserved for the team that will vest over time at a rate of 1.8% the total supply. This ensures that funds will not be excessive and will promote a goal of protocol growth to the team.

DAO Functionality

The DAO will be fully controlled by our community and will be responsible for changes anywhere from where we stake our assets, to if we should change our yields. SecureDAO wants to make sure that the community gets to have a say in all decisions post-launch, and have it benefit as many people as possible.

As always, the SecureDAO community and team is eager to hear recommendations on what we can do to improve. If you have an idea, make sure to tell us in the discord!

Security

SecureDAO has taken multiple measures to make sure that all users are at ease when using our protocol.

  • All contracts will be released on Github before launching for the community to check if they please.
  • Contracts will be time-locked to prevent the team to have any access to funds.
  • Multiple audits will happen shortly after launch and the protocol is running smoothly.
  • Multi-Sig to be added close to launch with outside trusted community members!
  • Possible KYC from the team.

For any other questions on our security, please go ask through one of our community channels. Thank you!

Future Plans With SecureDAO

The future is bright with SecureDAO and endless possibilities await our community! Stay secure and good will come to you all!

At the moment we are planning (All Speculation):

  • Staking in protocols in the FTM ecosystem so our users can earn an even greater yield when staking. ex: Scream stable vault
  • Have NFT drops for SCR holders and supporters, whether they be functional to the protocol or PFP’s has yet been discussed.
  • Create partnerships with other projects located on the FTM ecosystem, evolving our community and getting access to features limited only to collaborations of both ours and their projects.

If there is an idea you have that was not mentioned, be sure to let us know through our Discord or Twitter!

For any questions/comments, feel free to ask on our Twitter or in our Discord!

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Staying Secure

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