Original author: Jaleel, BlockBeats
With the development of DEX protocol Camelot, the Arbitrum ecosystem has been gaining popularity, and the price of Camelot's native Token GRAIL has risen from 200 to 2000U. After Arbitrove's sale, Camelot will launch another public sale today, Factordao. This article will introduce what Factordao does and how to participate in this Public Sale.
FactorDAO
FactorDAO is a decentralized fund management protocol running on the Arbitrum ecosystem. It provides a series of modular tools that allow asset managers, investors and other project organizations or individuals to easily create and join various investment strategies.
FactorDAO is a decentralized asset management protocol that enables ERC-4626 vaults and uses Factor's tools and services to create and join various investment strategies. On FactorDAO, any project or individual can create a Vault as an asset manager. Investors can deposit funds into these Vaults with one click to earn returns. Asset managers earn returns through set strategies, such as creating an index with a basket of assets, a yield strategy, or derivatives.
Factor hopes to unify the fragmented DeFi market into a liquidity aggregation layer to enhance users' market participation and asset flexibility, and better adapt to trading strategies and risk conditions. Therefore, FactorDAO is building a modular building block for on-chain asset management, bringing all existing DeFi assets under one roof, which is very suitable for protocols that want to increase TVL, aspiring asset management companies that want to establish on-chain performance records, and fund managers who want to hedge risks and generate returns. It allows anyone to build a one-stop solution for fund products on a peer-to-peer basis, and connects the world's best investment managers and investors on the Ethereum blockchain, so that new tools and strategies can be created.
One of FactorDAO’s innovations is its league system, a ranking-based competition platform that allows asset managers to showcase their skills and performance and earn rewards. Another innovation is its open system, which allows anyone to create and publish their own investment strategies and get feedback and support from the community.
$FCTR Token Economics
There are 10 million $FCTR tokens in total, with an initial circulation of 2 million. All Public Sale tokens will be unlocked at TGE. If participants in the public sale wish to participate in the governance of the DAO and receive a share of the protocol revenue from day one, they can stake their unlocked $FCTR to accumulate $veFCTR. 4.2% of the early bootstrap allocation was allocated at a price of 0.05 (FDV of $5,000,000) and vested linearly over 12 months. This is to facilitate the smart contract audits, development, legal, and marketing required for launch.
Team Tokens vest linearly over 24 months. Bootstrap backers and team tokens do not accumulate $veFCTR during the vesting period and need to be unlocked and staked to do so. This is to ensure decentralization and fair distribution and rewards for all participants. After the Public Sale, at launch, 32.51% of the supply will be emitted slowly and steadily over 3.5 years. No venture capital and no sudden unlocking.
How to participate in FactorDAO's Public Sale
The Public Sale will begin at 18:00 UTC on February 20, 2023, and end at 18:00 UTC on February 24, 2023, with 10% of the total $FCTR supply going to the Public Sale, distributed to all participants at the final price at the end of the Public Sale. The Public Sale will last for 5 days and will start at a reserve price of $0.10. The final price will be determined at the end of the sale based on the amount raised in this round divided by $10,000,000 in FCTR. All participants receive the same final price.
Similar to Arbitrove (BlockBeats note, for more details, see "What are the characteristics of Arbitrove, the first project issued on GRAIL?"), users deposit USDC into the contract (no buying and selling during the Public Sale). Each participant can evaluate the amount raised at any time during the sale, must make their own assessment of the value of $FCTR, and form their own opinion when participating in the Public Sale. If less than $1 million is raised, participants will receive their tokens at a reserve price of $0.10, and the remaining tokens will be sent to the protocol treasury.
Below is a short-term roadmap for the end of Q1, explaining the key events before and after the public sale:
Although the Arbitrum ecosystem continues to be hot, public sale projects such as Arbitrove and FactorDAO have cancelled their hard caps, and participants may end up buying tokens at prices far higher than the starting price. Arbitrove’s previous financing amount has exceeded 5,000 ETH, far exceeding the initial expectation of 313 ETH. Users should also pay attention to related risks when participating in FactorDAO.
