AG Token Launch

AG Token Launch Plan

UPDATE: to allow for some sell pressure at token launch the team decided to remove the vesting period for the 8,000 community tokens. Seeds is still 365 days for fully vested but with a 0 day cliff.

Also, project name is now Agave and token symbol will be AGVE

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As we get closer to the launch of Agaave, it’s time we outline our plan for the initial token distribution. The Agaave protocol token AG will have a fixed supply of 100,000. it will be used to govern the protocol, liquidity and community incentives.

The protocol will be controlled by the Agaave token holders. Initially these token holders will be predominantly the 1hive community. The exact distribution mechanism will be announced after distribution to avoid gaming.

Token Distribution

  • 5% assigned to the Agaave seed team,
    • 90 day cliff
    • 365 day vesting
  • 8% distributed to the 1Hive community in a fair launch
    • 30 day cliff
    • 90 day vesting
  • 5% to the 1Hive DAO for permanent staking
    • Staking bootstraps the security mechanism of the platform and provides a revenue stream which incentivizes 1hive to have an interest in future development.
  • 10% will be added to a HNY/AG pair on Honeyswap (subject to a funding proposal)
    • The HNY/AG liquidity tokens will provide a liquidity bridge between HNY and AG .
  • The remaining 72% supply held by the Agaave Aragon DAO will be be held by the Token Manager and be distributed via dandelion voting.
    • The Agaave token holders will need to decide on how the remaining 72% supply is used such as for incentivizing liquidity, development, and marketing. More detail on these below.
    • Some portion of the supply can be moved to a conviction voting vault pending a dandelion vote.

Agaave Token

Reasons for why Agaave needs its own token can be read at The Agaave Token forum post. Such reason include but are not limited to: Agaave should not need to perpetually ask HNY holders to subsidize its development, risk of liquidation, governance for token, setting risk parameters, protocol management, incentivize liquidity, and to create a fair distribution initially.

Liquidity Incentives

One of the most critical KPIs for the success of Agaave is liquidity. without enough tokens lent to the platform, the protocol will stall. The AG token would likely be distributed to depositors and potential lenders, but this is not a decision the seed team should make unilaterally. Once the initial distribution has been made and a market value for AG has been established the community can decide.

Developer Incentives

To fund the development of the platform, developers will make proposals. This will allow anyone, not just the seed team to work on the project

Marketing/Airdrop

For 1Hive and Agaave to be successful, we need to bring in new platform users and investors, so we will make a proposal to the Agaave DAO for a second airdrop targeting Aave and other aligned communities. However, this is not a decision for us to make it will be up to the Agaave token holders

References

AGVE-HNY LP Proposal
Wiki weekly recap Agaave section
The Agaave Token
Announcing Agaave, Aave on xDai

Thanks to those who helped put this together and review:
@anisoptera @GreenHornet @befitsandpiper @willjgriff @boring877 @gabi @lkngtn

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You got our support 100%.

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This is a historic time… wow!

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Please DM me if you need help with - short stories and illustrations.
I am very good at fashion design, I could also design some out of this world merch for you guys(if you need that). I am just trying to get involved more, I can t help with coding. but I can

-Get people into the project(I have a telegram group where I educate newbies)
-Create some cool out of this world NFTs and merch for the project.
-I can also offer advice on the branding part and stuff( I am the creative director of a t-shirt brand a a leather jacket company locally in Romania).

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You can design the Agaave icon,there is ongoing bounty for it ,check this thread : ☎ Call To Bees - Agaave Ticker & Design Contest

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Thx, I saw it, I am more of an artist, than designer, but I will create an adaptation on how I see it,

I want to check that I understand this correctly. Is it right to say that Agaave is a fork of AAVE, so it is distinct or differs from “AAVE on xDai”?

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The initial deployment will be very similar to aave except it will be on xdai. But over time we expect it to be very different.

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Jeeze seems like a big blue chip project …massive potentional

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I’m curious as to what a fair launch for the agaave token would look like. Any ideas?

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I love this. It’s these projects that embrace the community in a meaningful way that really ignite into major players in the market.

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We will be providing the method that is used to determine the community distribution around the time of the airdrop.

Some of the criteria for what a fair airdrop to the 1hive community might look like is:

  • ensuring the same person doesn’t receive multiple airdrops
  • establish a selection criteria for the most active and loyal 1hive members
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So at current, you’re only exploring airdrops? Will an individual be able to purchase tokens on honeyswap directly after the airdrop? Or will there be a token lockup period?

Also I just wanted to start the conversation of this token being transferable both ways on the Xdai bridge. Both on Ethereum and Xdai

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8% airdrop to 1hive community

10% of agave token will be paired with some amount of HNY to create a liquidity pair on honeyswap. This will allow anyone to buy the agave token.

No decision has been made on this. We have discussed manually setting this up like HNY has been setup on Mainnet but it’s possible we may just wait for the bridge to be completed.

All great questions thank you.

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Thank you for taking the time out to answer all of my questions. I am very excited for this project! You’re awesome.

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Catching up with all happened in the past weeks here…

Man, lovely job. I truly agree with everything, especially onboarding Aave-related communities.
I’m looking forward to Agave!

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There are many ways to game the system with linear airdrops. I think you should look into addresses that provided liquidity and participated in HNY farming to reward them a bit more. It’s OK if everyone that participated in governance gets a fair share but if everyone gets the same then we have a high chance of rewarding the same people multiple times.

I love how the Badger DAO community did their airdrops. They weren’t perfect but it was as fair as it can be IMO

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Trust that we spent a little time coming up with ways to prevent this. :slight_smile:

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I hope I’m eligible for this. Just started using honeyswap a few days ago and also started providing liquidity.

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Why not use BrightID? Every account that did xyz in the past is getting an airdrop IF they also can show an BrightID.

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