Project: Kassandra Finance (the “Project”)
Github: Kassandra Finance · GitHub
The proposal covers the details about ShineDAO’s participation in the Project’s Private Sale. In consideration of the support of ShineDAO guild members, the subsequent proposal will follow and require approval from the Project’s DAO.
In the below graph, we present the token economics for the Project. The initial and maximum supply of the governance token is 10,000,000 $KACY, which will be distributed as outlined below. For more information about the $KACY token, please refer to Kassandra DAO & Token Medium announcement.
The Project agrees to allocate 1,25% - 2,50% of the maximum supply (125,000 - 250,000 $KACY) to ShineDAO, raising a total amount $50,000 - $100,000 from ShineDAO supporters. The final amount will be negotiated based on the sentiment of the ShineDAO community. There is an IDO planned in January with a token price of $0.07 per $KACY.
Supporters will be able to get the token at the rate of $0.049 per $KACY (all fees included).
Private sale tokens will be, subject to 3 months locking period and released in linear vesting in the next 9 months.
Since the $KACY token is not yet launched, ShineDAO will issue a $KACY snapshot token on the Matic network. Snapshot of the bought tokens will be taken and forwarded to the Kassandra team who is going to stake/vest the amounts to addresses who participated in the Private Sale. To mitigate the risk, there will be a binding investment agreement between ShineDAO’s legal representative and Kassandra’s DAO legal representative.
10% of tokens allocated for Private Sale for ShineDAO will be taken as Private Sale fee and moved to ShineDAO treasury. 5% of $KACY Fee (0.5% tokens allocated for Private Sale for ShineDAO) will be given to King_Kunta as a referral Bonus.
10% of USDC raised for Private Sale through ShineDAO will be taken as a Private Sale fee and moved to ShineDAO treasury.