$LVC Presale
Velocore now offers a completely new experience through V2. Velocore V2 on Linea operates independently from zkSync Era, using different tokens. This is to ensure the operational independence of veDEX, which requires emissions for each pool and a vote-escrow mechanism for the entire flywheel to work. Linea uses a token called $LVC, while the $VC token from V1, launched in the zkSync Era ecosystem, will be independently upgraded to V2 in zkSync Era, with token and liquidity migration.
This presale announcement is for the $LVC of the newly launched Velocore V2 in the Linea ecosystem, and we ask that you stay tuned for further announcements regarding various related events and airdrop opportunities!
Overflow Farming Launchpad
Similar to the overflow method in every other aspect, the overflow farming launchpad has one crucial difference. In the traditional overflow method, early bird contributors could not be rewarded for taking on greater risks. Velocore has taken this into account and allocated bonus $LVC tokens for each private and public presale pool. These bonus tokens are provided from the community reserve and are allocated in the same proportion as the total raised amount for each sale (200,000 $LVC for the private presale pool and 1,000,000 $LVC for the public presale pool). The allocated $LVC tokens for each pool can be farmed as soon as the presale begins and will be distributed over the presale period.
Private Presale
The private presale will be accessible through a whitelist. Whitelists will be available to partners, contributors, participants in the zkSync Era ecosystem, core members of the Velocore community, and other users through various events.
Launchpad Date & Time
Platform: Linea Velocore
Start of sale: August 22, 11:00 UTC
End of sale: August 23, 11:00 UTC
Duration: 24 hours
Method: Overflow Farming
Hard cap: 90 ETH (4,800,000 LVC token | 6.3% of total initial supply)
Price: 0.00001875 ETH per token
Individual cap : 0.001 ETH — 3 ETH
Overflow Farming Pool: 200,000 LVC
IDO Contract:
$LVC Claim
70% of $LVC will be claimable after the public presale
30% of $LVC will be linearly vested over a 2-month period, beginning at the end of the public presale
Public Presale
Unlike private presale, public presale does not have a maximum quota. In the event that the soft cap is not reached, all remaining tokens will be burned. If the soft cap is exceeded but the hard cap is not reached, the unsold tokens will also be burned. $LVC liquidity will be provided proportionally based on the total number of tokens sold.
Launchpad Date & Time
Platform: Linea Velocore
Start of sale: August 23, 11:00 UTC
End of sale: August 25, 11:00 UTC
Duration: 48 hours
Method: Overflow Farming
Hard cap: 450 ETH (21,600,000 LVC token | 28.4% of total initial supply)
Soft cap: 150 ETH
Price: 0.00002083 ETH per token
Individual cap: More than 0.001 ETH
Overflow Farming Pool: 1,000,000 LVC
IDO Contract:
$LVC Claim
70% of $LVC will be claimable after the public presale
30% of $LVC will be linearly vested over a 2-month period, beginning at the end of the public presale
What is the Overflow Method?
The Overflow Method presale is a novel token sale mechanism designed to ensure a fair and efficient allocation of tokens during an initial offering.
Advantages
Some key advantages of the overflow method presale include:
Fairness: All participants have an equal chance to acquire tokens, regardless of their investment size or timing.
Efficiency: The Overflow Method reduces the likelihood of network congestion and high gas fees, providing a smoother user experience.
Transparency: The token allocation process is clear and easy to understand, ensuring trust between the project and its supporters.
Flexibility: The Overflow Method can be adapted to various token sale structures, such as capped or uncapped sales.
How it works
The overflow method presale operates in several stages, as outlined below:
Token Sale Registration: Participants register for the token sale by providing their wallet addresses and the amount they wish to contribute. There may be a minimum and maximum contribution limit.
Initial Allocation: Based on the total amount raised during the registration period, the tokens are initially allocated proportionally to all participants, according to their contribution size. If the sale is oversubscribed, the excess funds will be placed in an "overflow" pool.
Overflow Distribution: If there is an overflow pool, the excess funds are distributed back to the participants proportionally, based on their initial contributions. This process continues iteratively until all tokens are allocated or the overflow pool is empty.
Final Token Distribution: Once the allocation process is complete, participants can claim their tokens by interacting with the token sale smart contract.
By following this process, the overflow method presale ensures a fair and efficient distribution of tokens, minimizing the potential for manipulation or congestion during the sale. This innovative mechanism provides a valuable alternative to traditional token sale models, contributing to a more inclusive and accessible DeFi ecosystem.
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