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