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WingRiders

08/29/2023

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Orcfax Token Launch in Collaboration with Wingriders’ Launchpad!

Get ready for our token launch! Following extensive consultations, we’re thrilled to reveal the platform that Orcfax will use to launch its utility token and which meets all our criteria!

Orcfax Token Launch in Collaboration with Wingriders’ Launchpad!

Get ready for our token launch!
Following extensive consultations, we’re thrilled to reveal the platform that Orcfax will use to launch its utility token and which meets all our criteria!

Wingriders’ innovative launchpad combines fair price discovery with a token sale and the initial bootstrapping of a liquidity pool. This is enhanced by dual yield farming rewards, increasing the utility of the FACT token — all of these features are provided within one decentralized and non-custodial solution.

Orcfax will utilize this platform to distribute 86 million of its tokens to the community while bootstrapping a liquidity pool holding 24 million FACT tokens and corresponding ADA*.

🚀 Orfax Token Launch & Price Discovery Start: 8 Sep, 2023, 08:00 UTC
🏁 Orfax Token Launch & Price Discovery Close: 15 Sep, 2023, 16:00 UTC
🎁 Claim FACT Tokens: Post-launchpad closure, via Wingriders Launchpad

During the ongoing price discovery phase, participants can add or remove ADA. Once the launchpad concludes its active phase, the final launchpad price becomes established. Thereafter, the ADA deposits will convert to corresponding FACT tokens, which will be claimable in full through the same launchpad portal (no cliff or vesting schedule).

Our Pledge to Fairness and Decentralization

Orcfax is committed to increasing the footprint of our community. The way we decide to distribute the Orcfax utility token is an important step towards achieving this goal. That’s why we decided not to sell any FACT tokens via VC, seed, or private sale rounds. We believe this will ensure a more fair distribution of our token among our community.

Decentralized, non-custodial, and fair price discovery are critical aspects of the Orcfax launch. This is why we have refrained from utilizing a centralized ICO-style public sale. By doing so, we empower the market to set the token’s initial price, avoiding pre-determined prices and promoting decentralization. This approach also enhances regulatory clarity and minimizes future risks.

About Wingriders and the Wingriders Launchpad

WingRiders is an innovative Cardano AMM DEX, combining Curve Finance and Uniswap V2 features. It introduces the WingRiders Launchpad (WRLP), aimed to provide a comprehensive solution for projects, offering token minting, sales, price discovery, liquidity creation, and fund management.

The main features of the fully automated, self servicing WRLP are:

  • Non-custodial and secure operation
  • Smart contract-based functionality
  • Decentralized and permissionless access
  • Antiscam measures and fully audited
  • Compliance options tailored to jurisdiction
  • Support for Cardano’s growth and DEX treasury.

Initial launches receive advisory backing from WingRiders, empowering projects and their communities. While this solution brings empowerment, it’s essential to acknowledge inherent risks. For more insights about the Launchpad, please visit WingRiders’ official social media.

How the Launchpad Works

The steps to interact with the Launchpad are simple:

  1. Visit the WingRiders launchpad (once URL is announced)
  2. Look for upcoming or ongoing project token launches
  3. Do your own research and find the Orcfax project; to participate in the launch, click “Contribute”
  4. Connect your wallet, enter the amount to contribute and click “Contribute”
  5. Read and accept the Launchpad Terms and Conditions; confirm your contribution and sign the transaction.
  6. The raising token (ADA) can be added and removed any number of times during the launch time-window, until the launch ends and the price is discovered*.
  7. Once the launch ends and distribution of claiming rights to all participants is completed, claim your FACT tokens in the WingRiders Launchpad UI (Handled by smart Contracts)
  8. Find the project’s Tokens in your wallet!

A full detailed guide to the Wingriders launchpad will be available soon.

Mark Your Calendars

📅 WingRiders Launchpad Opens (View Mode): To be announced soon
🚀 Orfax Token Launch & Price Discovery Start: September 8th, 2023, 08:00:00 UTC
🏁 Orfax Token Launch & Price Discovery Close: September 15th, 2023, 16:00:00 UTC
💧 Liquidity Pool Creation: In an automated fashion after the Launchpad closes

FACT Tokens for Participants: 86,000,000 (8.6% of Total Supply)
FACT Tokens for Liquidity Pool: 24,000,000 (2.4% of Total Supply)
🎁 Claim FACT Tokens: Post-launchpad closure, via Wingriders Launchpad (no vesting)

*Note: The initial ADA-FACT price within the liquidity pool will be higher than the closing price of the Launchpad. This is because the protocol will add more ADA after the launchpad closes. This subsequent addition of ADA will raise the ADA-FACT price above the launchpad closing price as soon as the liquidity pool is created.

The Utility of the FACT Token

Our Cardano-native “$FACT” token is a utility token that serves multiple purposes:

  • Payment for on-demand oracle data publications
  • Staking by data validator nodes
  • Reward payments to validators
  • Voting power in Orcfax DAO governance decisions

Orcfax Tokenomics and Yield Farming Rewards

From the initial publication of our tokenomics we have only made some minor changes:

  • We moved 2% of the “Advisors” allocation to the “Public Sale” allocation because we don’t need that much.
  • We renamed the “Public Sale” allocation to the “Launchpad & LP Bootstrapping” allocation, because we have decided to launch our token via the Wingriders Launchpad.
  • We removed the “Exchange Liquidity” allocation and added the same allocation for “Yield Farming APY”, because the Launchpad also provides for the creation of a Liquidity Pool. This allocation is now used to improve the attractiveness of our liquidity pool(s).

The tokenomics allocations therefore now looks like this:

Orcfax Tokenomics

Following the token generation event, we will distribute all 1,000,000,000 FACT tokens to their respective ADA handle wallets. Each ada handle wallet will represent one of the allocations as mentioned in the token distribution below. This approach ensures a high level of transparency in the subsequent distribution of the tokens to all stakeholders.

Orcfax Token Distribution

The 86,000,000 FACT tokens that are distributed to the participants via the Wingriders’ Launchpad will come from the “Liquidity Bootstrapping” allocation. The same applies to the 24,000,000 FACT tokens that are used to bootstrap the initial liquidity pool on Wingriders.

(Double) Yield Farming Rewards

Lastly, we have allocated 20,000,000 FACT tokens to significantly enhance the attractiveness of our liquidity pool(s) by offering substantial Yield Farming Rewards to our liquidity providers.

In order to further improve the benefits of providing liquidity to our pool farm, Wingriders is also adding WRT token rewards to our pool. The details of this double (FACT + WRT) Yield Farming rewards will be available on the Wingriders DEX as we switch into epoch 437 on 17th of September 2023. Users will have 1 epoch to deposit their liquidity to the Liquidity Pool and their LP tokens to the Farm (i.e. until 22nd of September 2023) to be eligible for rewards from epoch 438. Of course, it’s also possible to provide liquidity later on.

Besides our initial liquidity pool on Wingriders, we will also add one or more additional liquidity pool(s) with corresponding Yield Farming rewards on other DEXes.

What is Orcfax

Orcfax is a second-generation oracle service for Cardano, bridging real-world data to the Cardano blockchain.

These are made available as on-chain data inputs to smart contracts, scripts, and dApps that are running on the Cardano blockchain.

Orcfax data is made available in Cardano’s native eUTXO format using our Cardano Open Oracle Protocol (COOP)

How Orcfax Works

Orcfax collects real-world data from multiple sources for each data point and uses a distributed network of validator nodes to deliver truly decentralized oracle feeds.

Orcfax provides full audit logs of its data collection and validation process for each datum on a permissionless, decentralized storage network. This process allows users to “trust but verify” the fact statements published by Orcfax.

Orcfax is finely-tuned to deliver authentic and accurate oracle data. This is a critical requirement to fulfill the mostly unmet promise of DeFi. There are also many other business models and industries that remain poised to leverage distributed trust technology.

Unique Orcfax Features

  • Triangulated Data: All feed data collected from multiple primary sources
  • Fully Auditable: Permanent audit trails (in human readable format) for all data feed activity
  • Stake-Based Validation: Decentralized oracle pools of independent validator nodes verify the accuracy and authenticity of source data, driven by stake-based reward incentives
  • Archived Forever: All data stored on decentralized, sustainable storage using a standards-compliant archival packaging format for permanent access and re-use
  • Cardano-Native eUTXO Design: Orcfax created and implements the Cardano Open Oracle Protocol as an open standard designed to support and enhance eUTXO datum publication. A key objective of the COOP is leveraging the eUTXO design to reduce on-chain fees.

Want To Learn More?

Website: https://orcfax.io/
Docs: https://docs.orcfax.io/
Discord: https://discord.com/invite/UbAeRuNzDu
Twitter: https://twitter.com/orcfax
Reddit: https://www.reddit.com/r/Orcfax/

Stay tuned for more Orcfax Token Launch updates!

Disclaimer: Orcfax Ltd. and the Wingriders Launchpad

Orcfax Ltd. wishes to clarify that it does not provide any warranties or guarantees in relation to the use of the Wingriders Launchpad. The Wingriders Launchpad, developed by a separate entity, offers a platform for launching tokens and facilitating transactions.

It is important to note that Orcfax Ltd. operates independently from the Wingriders Launchpad. While Orcfax utilizes the Wingriders Launchpad for launching its token, the platform itself is maintained and governed by Wingriders, which is a distinct entity from Orcfax Ltd.

Individuals utilizing the Wingriders Launchpad for token purchases or any other activities are required to carefully review and agree to the Terms and Conditions provided by Wingriders. Orcfax Ltd. does not have any control over, or responsibility for, the Wingriders Launchpad’s operations, terms, or any actions taken by Wingriders.

Please be advised that any engagement with the Wingriders Launchpad is subject to its own terms, policies, and practices. Orcfax Ltd. strongly encourages users to thoroughly understand and accept the terms and disclaimers stipulated by Wingriders before utilizing their Launchpad for any purpose.

By proceeding to use the Wingriders Launchpad, individuals acknowledge that Orcfax Ltd. is not liable for any issues, losses, or disputes arising from the use of the Launchpad.

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ORIGINAL SOURCE

https://medium.com/@orcfax/orcfax-token-...

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