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FTM to Launch on Stellaswap via Initial Liquidity Offering

Initial Liquidity Offering, also known as ILO, is a mechanism that facilitates liquidity. In terms of Moonbeam, Initial Liquidity Offering aims to do the same for the Moonbeam network.

The mechanism will enable users to accumulate their liquidity and capital from other blockchain networks in the Moonbeam network. Blockchain networks include Fantom and Polygon, to name a few.

Background

StellaSwap is the first decentralized exchange of the Moonbeam network. It enables users to swap, yield farm, earn, and explore new projects. It also facilitates the engagement in the trading of non-fungible tokens from a unified platform.

The platform innovates on collective foundations by design and smoothens the decentralized governance of STELLA holders.

FTM On StellaSwap Via ILO

StellaSwap announced that FTM was coming to the Moonbeam network on February 22, 2022, at 16:00 PM UTC. The launch will be conducted via Initial Liquidity Offering or ILO.

Once launched, it will enable the users to bridge their $FTM holdings into the Moonbeam network. Users stand a chance to earn a discount of 10% on STELLA holdings. The only requirement is that users will have to commit FTM within the window of 24 hours.

Failing to do so will take away the discount.

Those who are able to secure their position in the window of 24 hours are estimated to earn massive APR returns after StellaSwap launches 2 Fantom Pools, namely the FTM-GLMR pool and FTM-USDC pool.

Both pools will be launched after Initial Liquidity Offering ends on February 23, 2022.

The timeline for Initial Liquidity Offering starts with StellaSwap launching Fantom Bridge on February 21, 2022, at 16:00 PM UTC. Initial Liquidity Offering is scheduled to start on February 22, 2022, at 16:00 PM UTC and end on February 23, 2022, at 16:00 PM UTC.

StellaSwap will then launch both pools on February 24, 2022, at 17:00 PM UTC.

The Overflow model will be followed by StellaSwap. It works on the pro-rata capital distribution method and refund mechanism. According to this model, any user who has committed his or her holding but was not allocated their share is refunded the money.

The key is to commit more FTM to the Initial Liquidity Offering. Any portion that is not converted into STELLA will be refunded by the system.

According to the announcement, the allocation of STELLA will be on a proportional basis in relation to the overall total FTM committed by every participant.

Users can participate by holding FTM on the Fantom blockchain. Users can start bridging their FTM holding from February 21, 2022, 16:00 PM UTC. The FTM tokens can be committed once the network launches the Initial Liquidity Offering on February 22, 2022, at 16:00 PM UTC.

The aim is to maximize the value for every token holder. A total of $100k worth of FTM that is raised will be used for buyback in a week’s period.

   

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