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ITHEUM Launch Details Are Here!! | Price Discovery Updates #MaiarExchange - YouTube
Channel: CarpathianStake
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The exact details of Price Discovery have
just been released by Elrond.
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That includes the duration of the Price Discovery
Phases, exact times and all other parameters
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involved, such as withdrawal penalty, what
token will be earned with 1000% APR in the
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first week after ITHEUM listing, and so on.
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If you are curious about the rationale behind
Price Discovery and want a more detailed view
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on it, please watch our first Price Discovery
video, which will be listed in the description
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below.
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Without further ado, let鈥檚 explore the updates.
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Price Discovery and its first phase start
on April the 25th, at 16:00 UTC.
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The first Phase will last until April the
26th, 08:00 AM UTC.
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In this first phase, people who want to purchase
ITHEUM will deposit eGold in the Price Discovery
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Smart Contract.
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Vice Versa, people who want to purchase eGold,
will deposit their ITHEUM.
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Therefore, the ratio between eGold and ITHEUM
in the Smart Contract will keep updating in
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real time, reflecting the price.
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Participants can freely withdraw their eGold
or ITHEUM if they are not happy with the price.
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Withdrawals in this phase will not carry any
penalty.
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The ITHEUM project will allocate 25,000,000
ITHEUM tokens for liquidity.
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Half, 12,500,000 ITHEUM tokens, will be deposited
by them in this phase, in the Price Discovery
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Smart Contract.
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At the end of the Price Discovery stage, the
locked-eGold that they will receive for the
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12,500,000 ITHEUM tokens will be matched with
the remaining 12,500,000 ITHEUM tokens, and
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will be added as liquidity on Maiar Exchange,
in the eGold-ITHEUM pool.
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Phase 2 will start on April 26th, 08:00 AM
UTC, so right after Phase 1 ends, and will
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last for 4 hours, until 12:00 PM UTC.
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In this Phase, deposits of ITHEUM and eGold
are still possible, but withdrawals will carry
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a penalty that will gradually increase over
time from 0%, until 10%.
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In this phase deposits are still possible.
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As sufficient time will have passed for the
participants to indicate their intentions,
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a range of the final price becomes apparent.
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Participants who think this range is outside
of their interest area can still withdraw,
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but at a penalty that increases over time
up to 10% at 12:00 PM UTC.
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Phase 3 begins when Phase 2 ends, on April
26th, at 12:00 PM UTC.
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It will last for another 4 hours, until 16:00
UTC.
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Deposits are no longer possible in this phase,
and withdrawals will have a fixed penalty
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of 10%, as the range of the final price becomes
even more clear.
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Phase 4 begins when Phase 3 ends, so April
26th, 16:00 UTC.
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This is the time when the Price Discovery
mechanism ends, and the new ITHEUM market
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price is known.
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The price will be calculated by the ratio
of ITHEUM to eGold resulting from the amounts
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of tokens deposited in the price discovery
smart contract.
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This is when participants can claim their
purchase as locked tokens.
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Those who deposited eGold will get locked
ITHEUM tokens.
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Those who deposited ITHEUM will get locked
eGold tokens.
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Adding liquidity also starts, so let鈥檚 move
on there.
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The ITHEUM project deposits initial liquidity
in the eGold-ITHEUM pool.
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They do so with the locked-EGOLD they received
for the 12,500,000 ITHEUM tokens deposited
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in the Price Discovery Smart Contract, and
with the remaining 12,500,000 ITHEUM tokens.
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Participants in Price Discovery can also deposit
liquidity with their locked tokens, as well
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as owners of regular eGold and ITHEUM tokens.
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Depositing liquidity in this stage will be
done at the eGold ITHEUM ratio discovered
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in the price discovery stage.
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As we mentioned in the first video, in order
to incentivise initial liquidity provision,
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the A-P-R for the first week of farming will
be 1000%.
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So, liquidity providers will be able to stake
their eGold-ITHEUM LP tokens in the eGold-ITHEUM
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farm.
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There will be an A-P-R of 1000% for earning
locked MEX, and 100% for normal MEX.
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Again, this A-P-R boost will last for 7 days.
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Swaps are enabled on April 27th, at 16:00
UTC.
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When swapping eGold for ITHEUM, traders will
receive locked-ITHEUM, and vice versa.
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Time locked tokens are not tradeable, but
they can be used to add liquidity.
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They will unlock according to the following
schedule:
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Price Discovery tokens unlock April 30, 16:00
UTC
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Swaps tokens unlock May 1, 16:00 UTC
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So, after May the 1st, 16:00 UTC, all tokens
that resulted from swaps will be unlocked.
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If you have any questions, don鈥檛 hesitate
to ask in the comments below, or in our Telegram
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channels.
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Make sure to follow us on our socials too!
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All links are in the description below.
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Thank you so much for watching!!
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If you want to support us, consider liking
this video, consider subscribing to our channel,
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and of course, consider staking with us
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We would also love to hear from you!
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Drop us a comment below, tell us your thoughts,
and tell us what subject you would like us
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to cover in our next videos!
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Until next time, mountaineers!
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