The Wait is Over
Algomint Governance Token Launches a Bridge to the future
March 30, 2022
Today’s token launch marks a significant step in Algomint’s evolution. The much anticipated Algomint governance token, goMINT, is the first Algorand-native three-way listing on AlgoFi DEX,PACT and Tinyman,and onAlgorand. Launched today at 9am AEDT on 30 Mar, 2022, the listing will also offer the top buyers chance to win 1 of 300 much anticipated Blackbook NFTs from one of the world’s leading graffiti artists! As Algomint moves to be a decentralised smart contract platform, the goMINT token will become critical to governing the protocol.
Investors looking to take advantage of the early token price will need to connect their ALGO wallets with AlgoFi DEX, PACT or Tinyman. Users will be able to use the “swap” feature on each platform to acquire the token. To make for an easier trading experience, we’ve created this instructional video to show users how to acquire the token.
The goMINT token launch will include three equally distributed $1M liquidity pools across the three DEX’s of goMINT/ALGO. Approximately 2–3% of the token supply will be sold into these pools over 12 hours . To safeguard its investors against price fluctuations, Algomint will be manually maintaining the price between 0.10 -0.15c, with robust bot contingencies across the 3 DEX’s. Initially there won't be single sided government staking, it will be staking in the LP pairs across some of the Algorand DeFi platforms, with announcements to be made on Algomint’s Twitter account as joint liquidity incentive programs are formed.
As with all token purchases, investors need to be conscious of fake tokens and only opt in ASA 441139422 in their ALGO wallets (Click here for wallet preparation guide) as the genuine goMINT token. . The price will be maintained between 0.10 - 0.15c for the initial 12 hours before opening up to free market price discovery. Investors are cautioned against paying extra during price fluctuation and it’s always better to buy as the price movement calms down.
The key utility of goMINT will be for platform governance activities pertaining to voting on token listings, blockchain integrations, fees, treasury management, and where the protocol is heading from a functionality standpoint. In the future, extra incentives have been earmarked, such as reduced fees through staking, eligibility for rewards through participation, including LP rewards pools.
Initially rewards and incentives will be fuelled from the Treasury allocation of goMINT tokens. Once depleted, it’s expected that protocol fees will shift to the Buy-&-Make model for rewards and incentives, channeling initial fees back into the pools for building protocol owned liquidity. With the treasury expected to last 5+yrs this will provide a significant runway allowing the treasury to amass a sufficient LP position generating long term revenue and providing deep liquidity in the goMINT token.
With a total supply of 1 billion tokens, it’s estimated 6% will go into circulation in the first month in the liquidity pools. Tracking on a linear emissions schedule, the plan is to release 2.5 % to the public sale, with 48.5 % being retained inside the treasury. To read the full details on goMINT token distribution, access our document here.
A portion of fees collected by the Algomint protocol will be converted into $goMINT and other base asset’s Liquidity Pool pairing inside one or multiple DEXes. Any fees collected in $goMINT will remain in the treasury until they can be LP’d. This removes goMINT tokens from the market, creates deeper liquidity, and can generate long term revenue through Liquidity Pool trading fees.
To ensure equitable access for global investors to purchase upon token launch, a 12hr price maintenance window will cover global time zones:
LA 4pm on 29 Mar, 2022.
NY 7pm on 29 Mar, 2022.
London 11pm on 29 Mar, 2022.
Singapore 7am on 30 Mar, 2022
BRIS 9am AEDT on 30 Mar, 2022.
SYD 10am AEDT on 30 Mar, 2022.
Algomint is a cross-chain liquidity network, with a focus on maintaining liquid interoperability while safely and securely optimising capital efficiency and cross chain transactions. goMINT is the protocol's native governance token used to manage the Algomint DAO which also controls the DAO treasury that is the recipient of fees generated on the platform. Users will stake their goMINT tokens to participate in governance and earn rewards.