MER VC POOL

  • The pool will open on 21st May (UTC +8 ) 8:00 PM SGT and will close on May 21st (UTC+8 ) 9:00 PM SGT
  • The pool will swap the USDC for MER at a 10% discount to IEO ceiling price.
  • MER IEO Ceiling Price = 0.125 USDC
  • During the 1-hour time period, people will be able to deposit USDC + FIDA in the pool with a 25:1 ratio. Eg. To buy 100 USDC of MER, you will need to put in 100 USDC + 4 FIDA
  • All FIDA deposited in the pool will be burned.
  • The deposit limit is max 250 USDC + 10 FIDA
  • A maximum of 112,500 USDC can be deposited into the pool, once the pool reaches the limit, users won’t be able to deposit any more.
  • After successfully depositing in the pool, users will receive a pool token: MERPOOL
  • MER tokens purchased by the pool are unlocked, however, the pool will remain locked for 1 year, i.e participants will not be able to withdraw from the pool for 1 year. MERPOOL is unlocked and can be transferred/ traded freely while the pool is locked.
  • Fees: 0.5% (charged in pool token MERPOOL at creation and redemption)
  • Alice deposits 250 USDC + 10 FIDA into the pool during the window period
  • She would receive 248.75 MERPOOL tokens to represent her ownership of the underlying (after 0.5% fees being charged) immediately
  • As soon as she receives the MERPOOL token, she can start trading it on the market.
  • After one year, when she redeems MER tokens, another 0.5% charge will apply, and she would redeem 2200 MER tokens

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Bonfida

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