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Liquidity Generation Event(LGE)
The MARE token launch will be one of the fairest of DeFi, and it will be based on SONNE token liquidity generation event.
Users who deposit USDC into the LGE contract at any time during the LGE will be apportioned a proportional share of the LGE regular allocation. (3,2% of the total supply of MARE )
As an additional incentive, users who deposit during the first day will be apportioned a proportional share of the LGE bonus allocation. (0,3% of the total supply of MARE)
Claimable MARE will be based on share of the total deposits at the end of the bonus period. There is no front-running and being first or last to deposit for either distribution doesn't matter.
After the LGE event ends, 3,5% of the total supply of MARE will be claimed by users who participate in the event.
The entire USDC proceeds from the LGE, along with 2,5% of total supply of MARE will be used for the MARE/USDC pair on Equilibre.
With these conditions, LGE participants will receive 28% more tokens than they paid for.
(For example, if you participated with 100 USDC, you'll receive 128USDC worth of MARE tokens at launch.)
50% of the LGE participant reward tokens will be unlocked instantly. The other 50% will be unlocked over a year.
The LP tokens received by the LGE contract will be locked in the LGE contract for a minimum of 180 days, ensuring plenty of early liquidity. After the lockup period ends, LP tokens will be transferred to the protocol reserves, where the strategy for their usage will be at the discretion of governance.
LP tokens will be staked on Equilibre to earn VARA. 80% of the earned VARA will be distributed to MARE stakers.