Launch Schedule

TL;DR

Phase 1: shoMESH-MESH Lockdrop Period: (1/1~ 1/5 23:59:59 KST)

Phase 2: SHO MINT (Price Discovery Period): (1/7~ 1/13 23:59:59 KST)

Phase 3: Drops Whitelisting Period (1/10 ~ 1/15 23:59:59 KST)

Phase 4: TGE (Token Generation Event) Launch: (1/16)

Phase 5: Main Protocol Launch: (Between 1/20)

Phase 6: shoMESH Farm Launch: (Between 1/21 ~ 1/28)

What is a Lockdrop?

Lockdrop is an event that distributes new project tokens to various token holders or participants.
Generally, project token holders lock up their tokens in a smart contract for a certain period of time to get token rewards. The longer the lock-up period, the more tokens they receive.

This is a 5 Day event with the specification is as below:

Incentive Tokens for Distribution: 2,500,000 SHO
Formula for receiving Incentive Tokens: Multipliers differ proportional to the number of MESHs x Lockup Period that users participate in lock-drop. The longer the lock-up period, the more SHO tokens users get to receive.
Lockup Period: Users can choose from Minimum of 1 Month to Maximum of 12 Months for the MESH Lock Period.

Lockup Periods

1 Months

3 Months

6 Months

9 Months

12 Months

Multipliers

0.8x

2.7x

11x

22x

Lockup Rules:

Users can freely deposit and withdraw unlimited MESH for the first 4 days only.
For the last day (5th day) of the lockdrop period, deposits are not possible, withdrawals are possible only once, and the amount that can be withdrawn decreases by 1/24 every hour.

Things that happens after Lockdrop ends:

The number of SHO tokens to be distributed to each user at the end of the lockdrop is confirmed: Distribution for 6 months from the end of lockdrop. (Vesting starts from TGE : 1/17 00:00:00 KST)
50% of the MESH collected from Lockdrop will be minted into shoMESH and with the remainder MESH it will be formed into a shoMESH-MESH LP in Klayswap + Listing request will be filed.
Lockup of shoMESH-MESH LP in proportion to the number of locked-up MESHs per user according to the lockup period.
Users can receive shoMESH-MESH LP after the Lockup period ends.
User can receive SHO rewards from shoMESH-MESH LP during the Lockup Period

Price Discovery Model:

Alternative of public sale.
Early SHO token price is determined proportional to the amount of USDC users deployed.
All users participating in the mint will be able to buy the token at the same price.
Some USDC collected from MINT will be used in Liquidity provision.
- Liquidity Provision is held based on the price determined through Mint.
- Some portions will be used for team resources.
SHO will be able to be redeemed after the SHO Minting Period is over (Starting at TGE from 1/14 00:00:00 KST)

During the whitelisting period, the drops quota is allocated only to the participants who applied for Drops.

Aiming to launch within 1 week after SHO Mint ends.
SHO-USDC LP Farm Launch: (1/16) (10.5% Incentives for 2 years) : Purpose of securing and stabilizing liquidity of SHO token.
Drops Distributed (1/16)
Pool creation (1/16)

Last updated 1 year ago