Announcing Indigo Liquidity Bootstrapping Event on Minswap Launchbowl.

  • Indigo has committed to a Fair Launch with no pre-mine, pre-sale or distribution of INDY (the Indigo DAO’s utility token) prior to launch.
  • Indigo has chosen the Minswap LBE as the fairest, most effective and transparent method to bootstrap its initial INDY liquidity.
  • 350,000 INDY (1% of total supply) have been allocated to the LBE.
  • 5% of the created ADA/INDY LP Tokens from the event will be directed as a Fee towards the Minswap DAO treasury and farmed.
  • The Indigo LBE has some particularities different from previous LBEs from the user perspective; such as a shorter duration.
  • November 12th — Time to be announced — Indigo and Minswap Twitter Spaces.
  • November 14th — 5am UTC — LBE Discovery Phase begins: ADA deposits are enabled.
  • November 19th — 5am UTC — 25% early withdrawal penalty begins.
  • November 20th — 11pm UTC — LBE Discovery Phase ends: With the end of the Discovery Phase, users can no longer deposit ADA.
  • November 21st — 3pm UTC — LBE Encounter Phase begins: The start of the Encounter Phase means users must redeem their ADA/INDY LP Tokens, and ADA/INDY begins trading. LBE participants can stake their ADA/INDY LP Tokens in a Boosted Farm.
  • Starting on November 14th 5am UTC, anyone will be able to supply $ADA to the Indigo LBE and will receive “goADA” in exchange.
  • This goADA acts as a receipt, that a user can either redeem to receive previously deposited ADA back (1:1), or keep through the end of the Discovery Phase to later redeem it for ADA/INDY LP Tokens.
  • Beginning on November 19th 5am UTC, there will be a 25% late-withdrawal fee on any return of goADA for $ADA, as a disincentive for users to manipulate the LBE by withdrawing late. After this time and before the end of the Discovery Phase, each goADA may be redeemed for only 0.75 ADA.
  • By depositing ADA in the Indigo LBE, users are essentially swapping half of this ADA for INDY at the price that is calculated during the Encounter Phase.
  • The Discovery Phase ends on November 20th 11pm UTC. After this time no more deposits will be allowed into the pool.
  • Starting on November 21st 3pm UTC, LBE participants may exchange their goADA for ADA/INDY LP tokens.
  • At the same time INDY will begin live trading.
  • Those ADA/INDY LP tokens can be staked in Minswap to earn ADA and MIN rewards.
  • There will be an Exclusive ADA/INDY Farm pool available only to LBE participants and later liquidity providers can not stake in it. Note that users can stake LP tokens to the Exclusive ADA/INDY Farm pool only up to the amount they contributed to LBE. The LP token amount will be encoded into the name of an NFT received together with the ADA/INDY LP tokens .
  • The NFT will also be tradeable. In case a wallet contains two or more functional NFTs, the system will select the one with the highest value.

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Minswap is the multi-pool decentralized exchange on the Cardano blockchain: https://minswap.org