Understand GRAIL’s new project FactorDAO in one article, how to participate in the public sale?

Original Author: Jaleel, BlockBeats

With the development of the DEX protocol Camelot, the popularity of the Arbitrum ecosystem has continued unabated, and the price of Camelot's native TokenGRAIL has risen from 200 to 2000 U. After the sale of Arbitrove, Camelot will open the public sale of another project, Factordao today. This article will introduce what Factordao does? And how to participate in this Public Sale?

Related Reading:"GRAIL is 5 times in two weeks, and new projects will be listed on this dark horse of Arbitrum's DEX》、《What are the characteristics of Arbitrove, the first project released on Excalibur GRAIL?》

FactorDAO

FactorDAO is a decentralized fund management protocol that operates 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, enabled ERC-4626 vault, utilizing 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 income. Asset managers earn income through set strategies, such as creating indexes with a package of assets, income strategies or derivatives.

Factor hopes to unify the decentralized DeFi market into a liquidity aggregation layer, thereby enhancing users' market participation capabilities and asset flexibility, and better adapting to trading strategies and risk conditions. So FactorDAO is building modular building blocks for on-chain asset management, bringing all existing DeFi assets under one roof, ideal for protocols looking to improve TVL, and aspiring asset managers looking to build on-chain track records , Fund managers who want to hedge risks and generate returns, allow anyone to establish a one-stop solution for fund products on a peer-to-peer basis, and also connect the world's best investment managers and investors on the Ethereum blockchain rise 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 innovative point 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

The total amount of $FCTR Token is 100 million, and the initial circulation is 20 million. All Public Sale Tokens will be unlocked in 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 distribution is distributed at a price of 0.05 (FDV of $5,000,000), vesting linearly over 12 months. This is to facilitate the smart contract auditing, development, legal and marketing required to launch.

Team Token vests linearly within 24 months. Guide supporters and team Tokens will not accumulate $veFCTR during the vesting period, and need to be unlocked and mortgaged 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 released slowly and steadily over 3.5 years. There is no VC funding and no sudden unlocks.

How to Participate in FactorDAO's Public Sale

The public sale will start at 18:00 UTC on February 20, 2023, and end at 18:00 UTC on February 24, 2023. 10% of the total supply of $FCTR will be used for Public Sale. The final price is distributed to all participants. The Public Sale will last for 5 days and start with a reserve price of $0.10. The final price will be determined at the close of the sale by dividing the amount raised in this round by the FCTR of $10,000,000. All participants receive the same final price.

Same as Arbitrove (BlockBeats note, for more details, see "What are the characteristics of Arbitrove, the first project issued on Excalibur GRAIL?"), users deposit USDC dollars into the contract (no buying and selling during Public Sale). Each participant can evaluate the amount raised at any time during the sale and must make his own assessment of the value of $FCTR and form his 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 the short-term roadmap at the end of Q1, explaining key events around the time of the public sale:

BlockBeats once again reminded that although the Arbitrum ecology continues to be hot, public sale projects such as Arbitrove and FactorDAO have canceled their hard caps, and participants may end up buying Tokens at prices much higher than the starting price. The previous financing amount of Arbitrove 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.