Foligator was first launched on 13th April 2022. It is a DeFi dashboard that allows you to track your liquidity pools and yield farming performance in real-time. Many cool features were introduced at launch including Portfolio history plots, Open positions, Pool specific data, Impermanent loss, HODL value vs current value, ROI, Yeild planner with whatif scenerios. Later we launched an update on 30th May and added a details page for each LP open position showing additional details of a position including individual pool performance/rewards plots, Hodl vs LP price analysis, zero impermanent loss prices and pool activity history.
Now we are planing to launch PRO version of Foligator app and introducing a membership/utility token $FGT. Currently, all the data on Foligator is free for every user. This will change after the release of PRO version.
$FGT is the utility and membership token for Foligator, which allows holders to access PRO features. The main utility of $FGT token is proof of membership. Therefore, to become a Foligator PRO member and unlock PRO features, users are required to stake $FGT token or $FGT paired LP on Foligator. The initial distribution of $FGT token will happen via token sale.
- Participating in token sale.
- Staking $FGT token on Foligator
- Supplying LP on Balanced and staking it on Foligator
Free member - Wallets under 5k portfolio can have free access to all features.
PRO member - Wallets having more than 5k portfolio can only access PRO features by unlocking PRO membership
In order to unlock PRO membership, users are required to stake $FGT token or provide liquidity and stake it on Foligator. For every $100 portfolio value, users will need to stake 1$ worth of $FGT token or provide 1$ worth of liquidity (1% of portfolio value). This ensures that members who are not big portfolio holders can benefit by holding just a small amount of $FGT tokens.
Joe has a liquidity portfolio of 10000$ in balanced.network. In order to track with foligator, he needs to stake 10000 $FGT at a price of $0.01/FGT ($10,000 x 1% / 0.01 = 10000). After few weeks, $FGT price has increased to $0.1/FGT and Joe’s portfolio value remains the same, now he would only need to stake 1000 $FGT tokens ($10,000 x 1%/0.1 = 1000).
In addition to the access of PRO features, Liquidity providers and stakers will also earn daily rewards.
200,000,000 $FGT will be minted at genesis and emitted over a period of 5 years.
The allocaiton for the initial five years is as follows:
- Token sale: 50,000,000 (25%)
- LP and Staking rewards: 60,000,000 (30%)
- Liquidity: 20,000,000 (10%)
- Reserve: 20,000,000 (10%)
- Marketing and community incentives: 20,000,000 (10%)
- Team and initial contributors: 30,000,000 (15%) with a 1-year vesting period
74,000,000 $FGT will be unlocked at initial mint for token sale (50,000,000), liquidity (20,000,000), reserve (2,000,000), and marketing (2,000,000). After initial minting, $FGT tokens will be locked in vesting contracts and distributed gradually.
After year 5, $FGT will be inflationary at a rate of 3% per year to ensure continued incentives for liquidity providers and staker.
The breakdown of our funding request is as follows:
- Smart Contract Developer ($3000/m for 1.5 months)
- Front-end Developer ($2000/m for 2 months)
- Community Management and Promotion ($600/m for 2 months)
Total = $9700
Duration: 2 months