Veno Launching On VVS Launchpad (IGO) on VVS Finance Launchpad! In this IGO, they incorporate a Committed $VVS Refund logic, which means your committed $VVS tokens in this IGO will be refunded to you after 30 days! You will be able to reclaim your committed $VVS tokens on our IGO page.

IGO Details

IGO Start Date: Tuesday, Jan 17th, 2023 9am UTC (5pm SGT)

Duration: 24 hours

LP Seeding: Wednesday, Jan 18th, 2023 9am UTC (5pm SGT)

Amount to Be Raised: 100,000 USD

Fully Diluted Valuation (or equivalent): 80,000,000 USD

Units offering: 2,500,000 $VNO at $0.04 USD per token

IGO Split: 100% to Basic (no Unlimited Offering)

IGO Method: Basic Offering: ‘Gem Fair’ . The method will be conducted using the Overflow Method.

Gem Fair eligibility snapshot: Taken randomly between Jan 15th — Jan 16th 2023

Vesting: 50% Immediate, 50% Monthly Vesting at 10%

Investment token: $VVS

Max commitment: $100 USD worth of VVS (fully returned after 30 days of IGO end)

Max overflow: 2x

Committed $VVS refund: Your committed $VVS tokens in this IGO will be refunded to you after the 30 days. You will be able to reclaim your committed $VVS tokens on our IGO page.

Basic Offering: ‘Gem Fair’ (USD 100,000 to raise)

In the Gem Fair, each person can contribute a MAXIMUM of $100 USD equivalent of VVS tokens.

To enter the Gem Fair, each user has to stake in xVVS Vaults, with varying amounts based on the different vault lockup period. Note: the staked amount cannot be split across multiple Vaults.

In essence, with a longer lockup period in the Vaults, the amount of xVVS staked required to enter the Gem Fair will be lowered.

The Gem Fair eligibility snapshot will be taken randomly between Jan 15th — Jan 16th. Make sure to complete the staking requirement by Jan 14th 11:59 PM UTC — 2023

The number of tokens available in this format will account for 100% of the total amount of token offering.

In order to ensure IGO participants have meaningful IGO allocation in the event of oversubscription, the Max Overflow mechanism will be implemented in the Basic Offering. The Basic Offering pool will stop accepting further deposit commitment once the overflow reaches 2x / 200% of the amount to raise.

Do note that the final allocation you receive will still be subject to the total amount raised in this method. However, you will not be battling any whales.

What Is the “Overflow” Method?

In essence, the more a user commits, the more allocation they may receive based on their percent commitment over the total committed amount. Any unspent amount is returned to users. The Overflow Method is illustrated by the following examples, when a user participates in the IGO via a Gem Fair.

Participating In the IGO

Eligibility:

1. Stake xVVS in Vaults for before the Veno IGO. (Required for the basic offering ‘Gem Fair’)
2. Hold at least 2500 LCRO-CRO-LP on Ferro (in wallet or staked in Ferro). Check this guide to get LCRO-CRO-LP. (~ USD 157.5 at the time of release)
3. Get VVS tokens which will be needed to purchase the $VNO token.

Before the IGO:

1. Get some VVS tokens and stake them for xVVS.
2. Ensure you have xVVS staked in a Vault prior to the IGO. xVVS has to be staked before the snapshot is taken in order to be eligible, refer to the above snapshot time and amount required (Required for the basic method ‘Gem Fair’).
3. Arm yourself with VVS tokens, this will be your currency to purchase $VNO.

During the IGO:

1. Commit VVS tokens: commit your purchase intention by staking VVS tokens in the IGO smart contract.

After the IGO:

1. 50% of your $VNO tokens will be immediately claimable once IGO is completed.
2. The remaining 50% of tokens will vest monthly over 5 months (10% per month)
3. Your allocation of $VNO tokens is calculated based on the overflow.
4. Any unused VVS tokens will be returned to you automatically upon claiming your $VNO tokens.
5. Your committed $VVS tokens in this IGO will be refunded to you after the 30 days. You will be able to reclaim your committed $VVS tokens on our IGO page.

About VENO

The Veno a liquid staking protocol built on Cronos. Veno’s goal is to be a one-stop solution for all $CRO staking, and enable a liquid form of $CRO that is highly secure, with lower staking commission, and with deep integration across the Cronos ecosystem. Users will be able to stake their $CRO directly with veno protocol and receive liquid $CRO token ($LCRO).

Website | Twitter |

Long-term goal is to provide a price-competitive protocol, one which maximizes reliability and efficiency, via

• Cost savings: Veno leverage their own node infrastructure and/or the infrastructure of our partners.
• Reliability: Veno has enterprise-grade node set-up and deep expertise in running node infrastructure.
• Security: Veno has an insurance module that will help secure user funds in the unlikely event of a slashing penalty.

Aims to maximise the adoption and utility of the $LCRO token across the Cronos ecosystem.

• Veno wants to maximise the liquidity of $LCRO in the Cronos ecosystem and beyond, attracting the largest amount of capital, and attaining the lowest spread, with commitments to high reliability and low-fees.
• $LCRO is an auto-compounding yield-bearing token to maximise composability.
• Veno aims to further maximise user liquidity by providing a tradeable NFT after user unstakes their $CRO.

Tokenomics

$VNO is Veno’s native protocol token which can be utilized across the Cronos ecosystem. $VNO has several use cases, including real yield rewards and boosted farming,

The total supply of $VNO will be 2,000,000,000 (2 billion). Below is the allocation breakdown of $VNO:

About VVS Finance

VVS Finance a blockchain-based decentralized finance (DeFi) platform. The platform aims to provide users a gateway into the DeFi space and allow them take control of their finances

Website | Twitter |

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