MER VC POOL by Bonfida

Published on: 20.05.2021

Mercurial Finance will launch a VC pool on Bonfida.

From now on, Bonfida will dedicate a specific page to host all VC pools, and will help more newly launched projects with the fund raising process.

The idea is to let anybody have the ability to be a venture capitalist and take part in the early rounds of a project’s fund raising process. In partnership with Mercurial Finance, Bonfida will be launching the MER VC Pool where participants can deposit USDC, and the Pool will swap the stablecoins for MER at a 10% discount to IEO price.

🔹The guidelines are summarized as the following:

The pool will open on 21st May (UTC +8 ) 8:00 PM SGT and will close on May 21st (UTC+8 ) 9:00 PM SGT
The pool will swap the USDC for MER at a 10% discount to IEO ceiling price.
MER IEO Ceiling Price = 0.125 USDC
During the 1-hour time period, people will be able to deposit USDC + FIDA in the pool with a 25:1 ratio. Eg. To buy 100 USDC of MER, you will need to put in 100 USDC + 4 FIDA
All FIDA deposited in the pool will be burned.
The deposit limit is max 250 USDC + 10 FIDA
A maximum of 112,500 USDC can be deposited into the pool, once the pool reaches the limit, users won’t be able to deposit any more.
After successfully depositing in the pool, users will receive a pool token: MERPOOL
MER tokens purchased by the pool are unlocked, however, the pool will remain locked for 1 year, i.e participants will not be able to withdraw from the pool for 1 year. MERPOOL is unlocked and can be transferred/ traded freely while the pool is locked.
Fees: 0.5% (charged in pool token MERPOOL at creation and redemption)

What is Mercurial Finance?

Mercurial is building DeFi’s first dynamic vaults for stable assets, providing the technical tools for users to easily deposit and mint stable assets, generating liquidity for their own requirements or offering them to ecosystem participants with such demands.