Polygon Presale (finished)

Due to user demand, Adamant released the ADDY token in May, which allows users to receive the performance fees earned by Adamant's vaults.

There was a presale on the Polygon network to seed initial ADDY/WETH liquidity on Quickswap.

Date: Sunday, May 5, 2021 15:00 EST/19:00 GMT

Allocation: 100 WETH

Returns: 50,000 ADDY tokens vested into the fee distribution contract + 50,000 ADDY tokens locked for 6 months in a different lock contract.

1,000 ADDY tokens were given per 1 WETH: 500 were vested into the fee distribution contract and 500 were locked away for 6 months in a different lock contract. A total of 100,000 ADDY was issued to presale participants.

There was a 5 WETH limit per participant.

Intended Uses

  1. Liquidity Pool

    • 50 WETH and 50,000 ADDY was used to seed the initial liquidity for the Quickswap Liquidity Pool (Est. Value: $300,000).

    • This will allow the ADDY/WETH pool to meet the minimum liquidity requirement for QUICK rewards.

    • The LP tokens were locked in another lock contract for 6 months and will not be used to farm ADDY or QUICK rewards, which ensures that presale participants will not have their share of farming rewards diluted.

  2. Audit + Development

    • The other 50 WETH was used to help fund an audit of the Adamant contracts from Certik and pay developers.