Clan’s Token
Clan Formation ⇒ Clan Ascension ⇒ Clan Master
Glossary
P = Price
Q = Quantity
P0 = Initial Sale Price
Q0 = Initial Sale Quantity
Pn = Price at bin n
Q1,2,3 = Quantity in stage 1, 2, or 3 to be distributed in equal bins per stage
Bins = Each bin has a fixed amount of token and a fixed price. Initially they hold only Clan’s Tokens except for the first bin that holds 100% $CHIN.
Clan’s Token Phases
Phase 1 ⇒ Clan Formation
To start the journey the Clan Leader provides Clan’s information (name, clan ticker, logo, social media links, etc) and looks for initial community support by selling an initial batch of tokens. This early capital backing is done in $CHIN (P0 x Q0 = Clan Formation initial capital).
Phase 2 ⇒ Clan Ascension
Once reaching the threshold to complete Formation, the initial capital raised will be split in the following way:
50% are sent to the protocol for the initial assets to compete (tournament tickets, etc) that are dropped in the Clan’s treasury.
50% is deposited in a Launch Pool in Meteora where a first bin with those funds is created. That bin has a size equal to Q0 and a fixed price of P0/2. This creates a capped minimum price for the Clan’s Token equal to half the initial price. Additionally bins are created, each with single sided liquidity (Clan Tokens) with an increasing fixed price per bin.
There are two ways to move to a higher priced bin: (i) community/supporters buying the token or (ii) the protocol buys tokens from these bins with the proceeds of tournament wins. Initially the bins only have the Clan Token but as purchases are made the bin will have an increasing percentage of $CHIN in that bin. Once the Clan’s Tokens in the bin are fully sold purchases are made in the next bin, when selling it moves in the opposite direction.
* The bins have a transaction fee, the transaction fee is split between the Clan and the protocol.
** The Clan Tokens purchased by the protocol due to prize distribution are sent to the Clan’s Treasury.
Phase 3 ⇒ Clan Master:
When all the bins have been sold/completed the Launch Pool is transformed into a 50/50 token pool at a starting price equal to Pn (last bin price in the Launch Pool). Any remaining tokens are sent to the Clan’s Treasury. Prize distribution will follow the same methodology as before with the difference that those purchases will be against a double sided liquidity pool instead of the Launch Pool.
Price Range
The token has 3 phases with defined quantities of tokens in each phase:
Formation has a fixed price range of P0
Ascension has a price range of P0/2 and Pn
Masters has no price boundaries
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