Sale and token launch recap
After starting on June 1st at 3pm UTC and running for 24 hours, the sale has closed.
Both whitelist and public sales were originally planned to last 5 days but a few hours before the sale, the sale contract was deployed with the duration hardcoded to 24 hours. Before anyone noticed, the sale started.
After the first 24 hours, to correct the error, the DAO voted to extend the public sale for 4 more days as originally intended.
The debate about this proposal was very heated, as some felt it wasn’t fair to extend it as the website clearly stated the sale was only going to last 24 hours, while others thought it was necessary and whitelisted buyers would be protected as only the public sale would have continued.
To offer more protection, the DAO also voted on the proposal to delay the unlock of Gov NFTs (1 NFT = 1300 TIG) from June 7th to July 1st and to extend the vesting of the tokens from 7 days to 30.
These “Leave as it is” vote passed, so the sale officially closed after the first 24 hours. Liquidity for the token was deployed immediately after.
The DAO also decided to vote in favor of delaying and extending the vesting of the tokens belonging to Gov NFT holders.
Seeing this decision, the Team also decided to extend the lock of their share of tokens from two months to six.
Sale results and circulating supply
Out of 700,000 tokens available, the sale amounted to:
- 269,672 tokens from the whitelist sale (30.328 unsold).
- 99,321.83 tokens from the public sale (300.678.17 unsold).
Resulting in:
- 229,221.2 USDT raised from the whitelist sale.
- 89,389.64 USDT raised from the public sale.
In total, 368,993.83 were sold, while 331,006.17 remained unsold.
The project raised 318,610.84 USDT.
The current circulating supply is made of:
- 368,993.83 TIG from the sale
- 102,948 TIG from the treasury share used for the first LP on Uniswap, paired with $100,000 worth of ETH.
Which makes the current circulating supply 471,941.83 TIG.
The rest of the USDT raised from the sale will be swapped for tigUSD to allow more open interest on the platform and won’t be staked to earn fees in order to leave a higher apr to other liquidity providers.
The rest is divided between:
- 331,006.17 unsold sale tokens.
- 90,952 treasury tokens.
- 218,300 team tokens, linearly vesting over the next six months.
- 787,800 tokens for Gov NFT holders, which can be unlocked from July 1st with a linear vesting of 30 days.
- 100,000 TIG reserved for future airdrops and volume mining.
The unsold tokens are currently sitting idle in the sale contract. They will be sent to the treasury and the DAO will discuss and vote on the best way to use them.
From now on, the DAO will be governed by both Gov NFTs and TIG holders (1 NFT has the voting power of 1300 TIG).
The treasury tokens will remain idle for now and staked to earn trading fees when TIG staking goes live.
As of now, trading fees still accumulate to Gov NFTs.
If you are confused about what Gov NFTs are, please read here: https://docs.tigris.trade/protocol/tig-and-governance/governance-nfts
Next steps
These are the next steps moving forward:
- TIG staking UI
- xTIG deployment. xTIG is the vested version of TIG and will be used to run volume mining campaigns. More info soon.
- New trading contract deployment. From this point on, trading fees will go to TIG stakers.
- Launch on Polygon zkEVM
- Launch of binary options
xTIG contract is ready and will be audited in the next few days by bytes032. He also audited the options contracts.
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- Debank: https://debank.com/official-account/110127/stream
- Twitter: https://twitter.com/TigrisTrades
- Discord: https://discord.gg/tigris
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