FlairDex-MCLB

The transcription is a conversation between two individuals discussing their project, FlareDeck, and their team. The speaker shares their background as a developer and how they got into the crypto world. They also discuss the problems with current decentralized exchanges and the solutions proposed by FlareDeck, such as low slippage stable swaps, decentralized emission control, and revenue sharing with protocols. The speaker also explains why they chose Avalanche as their blockchain and discusses the tokenomics of FlareDeck. They conclude by mentioning the reserved percentages for public and private sales, initial liquidity, and team members. All right, well, thanks for joining us today, Kript. Yeah, thanks for inviting us. It's a great pleasure to be here and discuss with the community what our project is and what new we are building when we are launching all these details. It's good to be here. Yeah, MCLB has kind of turned into a little bit of an alpha server and exchange group. A lot of information flows through here. It's pretty awesome. Really good community. Yes, certainly. So, in fact, we found out in a similar way. We were seeing, like, other folks that were partnered on other blockchains, and we found you and then just approached you, and it was, like, really, really nice to have this conversation with you, with CRE Dev, and with Seeker as well. It was really nice to have the discussion with you. Yeah, Seeker and Fiery, they're towards the top of the list of the kindest, sweetest, nicest people I've ever known in V5. Been around the phantom chain a while, and Fiery has always been helping out everybody just nonstop. But let's talk less about that and more about you, your team, and FlareDeck. So where do you want to start with that? Sure. I think I will first start with my introduction, where I come from, how I got into crypto and the entire blockchain and FI world. So, basically, I'm a developer. I work in a full-time job as a web 2 developer in one of the largest fintech companies here in India. Not one of the largest, but the largest. So I came into crypto in like 2021, somewhere around the home folk season. So went through a YouTube video. Someone said that you get this much returns, like 5,000, 6,000%. I don't even remember now. And I was like, okay, let's go. I went there and put like 2K in Wonderland time. And it was like one of the biggest blunder, I would say, because it tanked like crazy. And from then on, I thought, okay, I'm a developer. Let's see how difficult it would be to create a home folk, right? So that's when I started. That's when I started getting into blockchain and the crypto world. And so once I started reading more, reading through the white papers, reading and understanding the tokenomics, and mostly going through the code, I got to know that this is a pure congee. All these home folks are just nothing other than congee. So that's where I came up with the first idea, which was Oracle Finance, one of the protocols that we built earlier, which is basically in simple terms, I have to explain to you, it's a home folk with a real need. That's how I want to put it. So that's what we launched in somewhere around June 2022. It was like a very bad market at that time. We had LunaCash, all these big VCs going down. So it didn't go very well. Since it started now, we returned all the users' money to MBB and shut down the project. Then we started building the Flaredex. Most of the team members continued building. Yeah, so that was more or less my journey. But from that, the current team is four members. We are three developers. So I do mostly on the blockchain side of things. We have two more developers looking into the front end. Also, we have one designer working on the design part of things. So currently, four team members, certainly looking to expand team, more marketing and business side of things. So you said you have three developers. Is it like you got one solidly expert working on the contracts and then someone doing the infrastructure, API subgraphs, and then someone else working on the front end? Exactly. So that's the distribution. So right now, Lazy Potato is in the audience. So he's one of the guys looking into infrastructure, all the graph node, AWS setups, all these things. He's the guy. Also looks into Web3 integration in the front end. We have another experienced developer looking into all the UI side of things. And I mostly look into all the blockchain and smart contract part of things. Excellent. It's a good rounded-off team. Yes, certainly. But we need someone from business and marketing side to ramp it up. Right now, I am doing everything. So, yeah. What inspired you to start off with Flare Decks? And then what can you tell us about that? Yeah, so I think I can share my screen, go through our pitch deck once. I will take like five to ten minutes max. And then we can start answering questions. Will that work? Yeah, take it away. Sure. I will go ahead and present my screen. Is it visible? Yes, I think so. Okay. Let me just switch tabs. Good. So, yeah. Let's start. So the first thing, why are we building this thing in the first place? Because we see all these high-bid solution folks. But why are they so successful in the first place, right? They are solving a very, very critical problem, which is the current issues on the AMM status. So, first of all, if you look at the number of decentralized exchanges that we have, most of them are Uniswap v2 folks. Majority, not all, but majority. So, what are the major problems with them? So, first thing, they don't have any support for low slippage stable swaps. Most of them just follow a simple graph equation, which is x, y equal to k. And using that, they swap all the tokens, irrespective of whether they are correlated or not. So, for example, if you swap USDT, USDT, you will see significant slippage when you are using one of those curves compared to any other. Curve tried to solve this. But the real innovation came in the Solidity model that Eintrecht Conjure published. Another major issue that they have is the centralized control of token emission. So, let's say most of these folks that you have also have a firm, also have other kind of liquidity incentivizing mechanism. But most of those are centralized in nature. So, basically, a protocol comes to them, hey, create my firm. And they will create a firm and that's it. That's how it works. They will allocate a percentage of their total supply. Another major issue was the lacking revenue sharing with protocols. So, this is something that we are working on in FlareDex. It doesn't come with any other Solidity models as far as I know. So, this is something, let's say, there is a protocol that is working with us that has incentivized their user to provide liquidity and is incentivizing upper volume. They are incentivizing user to create their tokens. But what do they get in return? They don't get anything from the pool. So, it's more like a leacher kind of relationship between the Dex and the protocol. The protocol doesn't get anything from the huge volume it generates. So, that is one thing. Another thing is the zero-sum liquidity incentivization. So, most of the farming incentives are distributed in a way. The liquidity provider provides the liquidity. They get the liquidity. Soft fees from all these LP pools as well as they get some liquidity incentive. The moment the liquidity incentive starts to dry up, they will just sell all those tokens that they have hold up, take out their liquidity and move to some new place. So, these are the major issues that all these new AMMs have. So, what's the solution we are proposing? So, of course, most of the folks here already know Solidity models. So, I won't go into very much details. But yeah, it supports both the stable and volatile swap. It has very, very low fees compared to 0.3% of Uniswap V2. We just have 0.2% for VMs and 0.04% for SMs. Of course, both these fees are configurable. So, it can be changed based on how much market we are able to gain or lose. It supports liquidity incentivization by having gausses as well as simple LP pools. Also, we have bribes. We have decentralized emission control with V33 and FT holding and voting. And for flair dates, we also have a protocol fee. Basically, the fees generated from a pool, a percentage of that is taken by the protocol irrespective of if they provide liquidity or not. So, let's take a look at the market. So, we already know how great it is performing. But just look at the chart. TINA and PancakeSwap. 50%, 12% loss. Similar, we can see on other chains. Melodrome versus Coop. Equalizer versus SpookySwap on Phantom. So, everywhere, Solidity folks are outperforming their competitor, which is usually the Uniswap V2 folks. Now, we move to another thing. Why did we choose Avalanche in the first place? So, it is one of the major blockchains supported by major business, all the centralized exchanges. You can directly bring funds here. Much easier to operate on. Also, support for major things like graph protocol and other tools that you want to use. Similar, if you look at the TVL, it's around 1.5 billion and daily volume, 30 million plus. So, good market to capture. That's less competition. If you look at, for example, Arbitrum, they already have three or four, I think, Solidity folks there. So, less competition here right now. So, another reason for us to choose this. Yeah. Now, we have this mechanism. I don't go into detail on this because probably most of the community already know. Yeah. Another thing that I want to cover is the emission. So, unlike other Solidity folks, we don't have a simple emission decay. We have tiered exponentially decaying average. So, what does this mean? So, basically, it means we will start with an emission of 5 million in the first week. Till the week 52, it will decrease by 1% per week. After week 52, it will start decreasing with a different rate. This is 0.5 and then with a different rate as the time goes on. So, this ensures that the decrease is not sudden. We don't start losing market. The decrease is in a much more granular way and much more in a way that we can control. Right. Bribes. We already know. You can create a bribe on top of liquidity, on top of a gauge. And once the gauge voting is done, the liquidity provider will get all those. Sorry, the voters will get all these bribes. Right. Workflow. We already know. Tokenomics. Yes. This part I would like to give some time on. So, this is our tokenomics. We have reserved 40% for our public and private sales. 20% for our initial liquidity. 15% for the community, which is basically divided into three parts. 6% for liquidity incentivization, like creating initial bribes for the protocols. 8% for grants, which we will do in phases for bribers, LP providers, and others. And 1% for book pointing. Similarly, we have 10% for teams. Half of it is locked, max locked for four years. Other half will be vested. 10% for launch partner, which FBOM and SHRAP both are part of. So, we will provide them a locked VNFT. 4% for marketing and 1% for advisors. Yes. Another thing, we are starting to launch our seed sale from the next week. So, yeah, this is our planned pre-sale distribution. We are starting our seed sale with total supply of 20 million tokens. Planned raise amount is 90,000. Price 0.0045. 70% TGE and 30% as a 3-month VNFT. Similar community sale, we have similar plans of 20 million tokens. This will be a fair launch. 120k planned amount. So, we are planning to reach around 210k. Don't plan to reach a bigger amount. Right now, we don't want to be in a situation where we raise a big amount and the first day of launch, we have a massive sell-off. So, we plan to keep this small market cap. We start with a small supply as well as and then we see how it goes. This is a business model. So, the team receives 10% of small fees and 3% of weekly SLD commission. Just wanted to cover this so that everyone knows that, yeah, the team will be self-sustainable getting all these fees included and continue to build a protocol. So, that's the plan. Yes. So, this is more or less. We have some future products like Flare Boost, which will be a yield optimizer built on top. Launch and transfer. I don't think I have time to cover all of these. Otherwise, we will be delaying this. Yes. I think that's it. That's it from my side. Right. Awesome. Yeah. I don't know if we've ever gotten – I don't remember if we've gotten slides before. That's pretty awesome, man. Thanks for preparing that for everyone. Yeah. Actually, I wanted to prepare – see, this is the slide that I usually present to VCs. I wanted to prepare something more, you know, decent-friendly, fit with means and other things. But unfortunately, I didn't get any time today. I was completely occupied with various things. So, sorry for that. Maybe next time I will create something fun and interesting. No, that was great. I think you did great. Thanks a lot. Yeah, I wanted to ask – so, a lot of times, you know, I like to be kind of thorough in a directional order. I like to ask, like, starting from the ground up, I would say, with the code base. Did you start with a specific code base for doing this project, or did you just completely rework everything with your own tech stack and logic? Or how did that go? So, currently, the code is based on Solidly, right? We are – most of the code is from Solidly, except the emission schedule. Emission schedule has been borrowed from Velodrome and been written by us as well. So, what we have borrowed from Velodrome is the rebasing logic that they have. Apart from that, that part is something that we have created on our own. Other major changes that we have are in the payer and factory contract, where we have concept of partnership, as well as we have the ability to change the – basically change the stable swap and volatile swap fees. These are two major changes. Oh, wow, yeah. Dynamic fees are – that's pretty cool. Will – once you whitelist tokens for gauges, after that, will people, other users or projects or partners, when they create a new gauge, will they be able to set the fee that they want, or are the fees completely controlled by your team's multisig? Yes. So, the fees will be controlled by the team multisig. That said, we have an upper limit. We can't increase the fees for volatile swap more than 0.8 percent, and for stable swap, we can't increase more than 0.1 percent. So, once the protocols – let's say there is a new protocol. They want to create a payer for their – for any of their tokens. They can just get to us. We will add their address as the protocol owner, as basically the pool owner, and they will receive 3 percent of the total swap fee generated from the pool over the lifetime. So, that's one of the ways we try to, you know, build working relations with all these protocols so that they are benefited for the long term, rather than just having their liquidity there and remaking all the fees and liquidity for enjoying everything. Nice, nice, nice. I've looked over your docs as well. I think you talked about this a little bit earlier, is the fee splitting. So, if I recall correctly, you were saying sending some fees to other projects and partners, if I got that correct, but also, if I am not mistaking, I think in the docs, it was saying something like 20 percent going to development of the project, I assume DevOps. So, can you explain all that in a little more detail? How is that all going to work? Yes. So, first thing, the doc is not quite updated. We have reduced that to 10 percent, right? Right now, at the initial, it will be 10 percent. There will be 3 percent. Let's say there is a pool which has a partner. Let's say there is a pool of AppsBomb and Avax. Let's assume that. So, 10 percent of the fees that is generated will flow to the dev. 3 percent will go to the owner of the token. Basically, the dev team for AppsBomb, right? And the remaining will be distributed back to the voters if that pool is a botch. So, that's how the distribution will work. All right. That sounds pretty good. That sounds pretty good. And I also noticed, if I'm not mistaken, in your slides there, it looks like with your seed, they're talking a part of it vested in a VNFT for three months. So, is that how you guys are working with, like, the retail VNFTs that users will create? The vest time is three months? Yes. So, the plan is to have some portion of the seed sale. The initial purchases will have a lower price, of course. So, we want to have some portion locked so that they contribute to the longevity of the entire ecosystem. So, 30 percent of their token will be logged as a VNFT, which will be of three months. Those three months, they can withdraw their token or choose to increase the log input, right? So, and during the entire time, it's not wasting. So, you can always use your VNFT to vote on the different bodges and receive the fees from them, as well as receive the rebases that you get in the terms of FLDX emissions. So, all these things are there just to reduce the initial supply at the initial circulating supply, as I would say. At the time of launch, we are locking a percentage, a small percentage of their token as VNFT. Right. So, then, but is, so for everyone else, like, okay, in the future, I get some of your tokens, and I want to create a VNFT and participate in your project. Is three months going to be the max lock time overall? Or are you just setting it for three months, sending it out in the seed? What's the max cap for the VEST time? And also, it'd be essentially the voting power decay on the same line and curve as the VEST time decay. Yes, exactly. So, the max lock is like other volatile, so it's four years. We are sending three months because we don't want to lock for more than that. So, after three months, they can choose to basically withdraw their tokens or choose to increase their lock amount. We are choosing, we are connected with this number because we believe in three months, we will be in a much more stable position and we will be at the launch date. So, post three months, it should be good. We can let the individual owners of these NFTs to make their own decision. So, that's the point we are coming from. And answering your second question, yes, these VNFT will be exactly the same like any other NFT. So, these will also have their voting power decay. Nice, nice. And also, I guess maybe this is also relevant to everything we're talking about. So, after the seed sale, I do believe I've seen a question here from Contrast. They are asking, are you going to partner with Avalanche for the sale of your token? And do you have any partners already publicly announced? Yes. So, we already have five launch partners. We have Router Protocol on board. We have FBOM and SHAP as well. We have YieldBOM, which is an yield optimizer. Cassandra DAO, which is another index fund basically deployed on Avalanche. We are working with three, four more in the pipeline. So, by the time of launch, we will have more than 10 to 12 partners. So, yeah, in terms of having partnerships with Avalanche, we'll certainly look through it. But it is not in the plans right away. But certainly, once we have a decent TVL, we can always go have a discussion with them. Nice, man. Nice. That sounds great. If anyone's got any questions, I'm trying to keep an eye on both the chat box and the stage channel. But we also have the AMA-specific text channel right above the event time channel. So, if you've got any questions, go ahead and toss those in there. Janice wants to know, will there be a rebase for lockers? I'm assuming that you did talk about some rebase mechanism, if I'm not mistaking. Are rebases going to be only for the partner protocol tokens that you're minting? Or are they going to be available to general retail users as well? See, the VE and FT will be as same as any other. So, the partner protocol will also receive the rebase. The other users who have decided to lock their own token after the launch, they will receive the same rebase rewards. The logic for both of these is exactly the same. No difference. The same vote decay, basically the voting power decay. The same rebases they will get. And the same way they can perform actions like merging RFP or increasing the lock. No difference there. Java wants to know, does the team docks or have any plans to? I think Contrast tried to answer that. But I'll let you go ahead and tell us about that, if you wouldn't mind, please. Sorry, can you please repeat? Oh, I might be cutting out. Yeah, I live out in the middle of nowhere. I have Starlink. So, I might cut out sometimes. Apologies if that happens. Java 919 is asking if the team is docked or have any plans to. And I think Contrast answered that. But I'll let you go ahead and tell us, if you wouldn't mind, please. Yes. In fact, I missed one of the important parts in my PPT. So, security, we take that very, very seriously. We have a few members that are part of Oracle Silence Assistant. They have also seen how we take security seriously. So, let me tell you about the security plans for FlaredX. First of all, the code is taken from the audited contracts of Solidity. So, we are all, mostly we are good there. We will anyway have the code looked into by all our partners. So, if there is anything that we want, we will certainly fix it. Second, we are KYC'd with RugDoc. Also, as a part of my previous project, Oracle Silence, I was KYC'd with House of Obsidian. Third thing, all the admin functions that you saw, right? The ability to pause the pools, basically. All these things will be behind a multi-sig. And that multi-sig won't be controlled fully by team. That will be a multi-sig containing us as well as partner protocols, where partner protocols will be in majority. So, it won't be ever our decision to do anything that we want, let's say, causing the flow or something like that, right? Any admin actions. So, these are the major safety mechanisms that we are taking. Apart from that, I also wanted to convey that we are also planning to lock the liquidity for one year. So, no change post we launch. The liquidity will always be there. That will be for sure. Are you going to use LamaPay to lock it in? Exactly, yes. LamaPay is the best one, I think. We will explore others, but I think that's fair and simple. Yeah, LamaPay is awesome. And the devs and the team over there are really amazing, excellent people. And those contracts are insanely battle-tested. I think it's a good choice, absolutely. And people definitely like to see that these days. It seems to be a question that pops up very often. I had another question I wanted to ask about Boost. You know, the design to where the heavier weight of the VNFT that a wallet has, they can get a higher emission boost from the LP pools. Is that something that you all are going to be playing around with? Or did you just take that out? Yes. So, we have kept Boost. This is done for a reason. So, if you see our future roadmaps, we have a plan for something called Flare Boost, which will be a new protocol that will act like a VNFT aggregator. So, basically, it will aggregate all these VNFT and then we can have another flywheel running. People will try to purchase more power in Flare Boost so that they can get more rewards using the boosting feature that Flare Dex has. So, that is something that we wanted to borrow. We already have Solidly and SolidX that we're doing the same thing. We already know how much success there is with Curve Convex, and I think there is some Layer 3 also being built, Curve Convex and something else, that will augment this entire process for the long term. So, keeping that in mind, we have kept the Boost feature that we have in Solidly as it is. So, we will have the Boost. So, if you have VNFT, you provide liquidity, you will get up to emissions. Right. And then, yeah, a little Convex slash Aura kind of layer that's always interesting things, opens a lot of interesting and fun doors. What's the cap that you are going to have the Boost at? A lot of projects have it at a 2.5x max cap on the Boost. So, what's going to be your max cap? And also, is that dynamic? Is the Multi-SIG able to change the Boost at all? Right now, we are planning to go with our default, non-changeable 2.5x. But, yeah, if we decide to change it later or make it configurable, now that since we have raised this point, we haven't actually thought about it before. Should we make it configurable or not? We can certainly look into that. And even if we make it configurable, rest assured, this will be behind a Multi-SIG that will be controlled. Multi-SIG that will only be fully controlled by the team. Right. And you said multiple times about changing things in future upgrades. So, I assume all of the most important contracts, those are all going to be behind proxies so you can upgrade and keep building and improve as time goes on? No. So, actually, this part we have taken from Solitude. In fact, none of our contracts are upgradable. So, we have taken this decision. We want to play with some parameters like fees and other things, but we don't want to change the core logic as such because we don't have any plans as such. We don't see a time in future where we want to change the way we do swaps or want to change the way how bribes are built. We don't have any plans for that. If you look at the roadmap, we have plans for a year ahead. We have Flare Boost. We have something called Tranche. Basically, you can split your LP tokens to minimize your risk or to gain access. All these things are planned. And all these protocols will be built on top of FlareDex. So, right now, we don't have any plans to change this. So, we have gone ahead without any logic of upgradability in our smart contract. So, yeah, I was looking over the docs once again, and I know you said they weren't updated to current date. However, I did want to ask some about the roadmap. Can you tell us whereabout you are on the roadmap and what still needs to be done? When exactly? I know it's hard to put a date on this stuff, right, because there's always work to do and lots of little things always pop up. But do you have any kind of rough estimate when you're looking to actually get launched and get everything going on the road? Yeah, so right now the plan is, like, if folks know, we have already launched our private beta. That was intensely tested by the community members. And there were a few issues in the UI that we have fixed from them. So, right now, today itself, we are in a launch-ready state. So, now we are already starting our seed sale. So, likely the current launch date we are planning around 25th of March, because there will be a plan to close our seed sale in the next two weeks, as well as then start our public sale. I hope that answers your question. Yeah, absolutely. And I'm going to have to do this for the MCLB family. So, I know that you were saying you're going to be doing a private seed. What other projects have done in the past is reached out to MCLB and reserve an allocation for the community that then FIREE handles? Is your seed already filled up, or is there any way that the MCLB community can get a little piece of that action? Yeah, actually, like I promised last time around, I think someone in the chat asked me, last to last week, will there be a seed sale, and if MCLB will be able to get a seed allocation? I promised there will always be a seed allocation. So, in fact, we have launched our seed sale from today. And of course, there will be a seed allocation for you guys. We are reaching out for basically other investors group as well, because we want to close it as fast as possible so that we can be sure and plan out our next steps. But yeah, to answer your questions, we have just started. Seed sale is open for everyone. And certainly MCLB will be the most and most welcome. Excellent, excellent. So, in your tokenomics for community in the docs, I don't know if this is still updated, but it says there's a 8% airdrop early supporters using the protocol. Is there any more details that you can give to exactly what will be the parameters that people will need to meet in order to receive any of this airdrop? Because you know the old meme, when airdrops, so people are going to be asking. Exactly. So that is something that we get asked on a daily basis on our Discord. So, yeah, so we have planned it in three or four batches. So the first batch will be around the time we launch our protocol. So we will allocate a small percentage, maybe one to two percent, I think, for the first batch. Haven't decided the numbers yet, but that will also be in somewhere in the way, 70% as an opt-in NFT, 30% as the FLDX token. And yes, so the ways are simple. You have to just contribute to the community, just contribute to the protocol supporters in any way we can, like bribe a pool, provide some LP or before the pre-launch phase, you can always come in and test our protocol, right? Find out a bug. Let's say if we have any criticality or just help spread information about FLDX. So that's a simple way. Don't have any hard and fast rules right now that we have planned. But yeah. Awesome. Awesome. So Casey wants to know about the seed sales. I do believe from your slide, private sale was going to be 4.5 cents and the public sale was six cents. Is that correct? Did I read that right? I think there was one more zero. It is 0.0045 and 0.006. OK, awesome. And then do you have the, do you have the figures already? Casey would like to know what the initial valuation is going to be when you, when you launch the LP after your seed sales. So, so the plan is 90K we are planning to raise from the seed sale, 120K from our community sale, total 210K raised. Out of that two-thirds, which is 140K, we will provide it as liquidity. Remaining 70K will be deposited into the team treasury. We will use it to develop all the future plans that we have like Flare Boost, Flared Ranch, all these things that I mentioned. Those will be worked upon. So at the launch time, the price will be 0.007 and the market cap we will have will be around 700K. Fully diluted market cap, if I have to say. Basically, at the max, all tokens are on lock, then 700K. But since majority will be locked, it will be much lesser than that. Awesome. Awesome. So was that, was that intentional that you did there? So it's going to, it's going to launch at 0.007 because, you know, James Bond is that, was that an intentional thing or just a fun little happening? No, but it will be good to market, I think. Yeah. Yeah, we didn't think about it, but yeah, it's a good, good number. Yeah. Some, some, some, some James Bond style kind of, kind of graphics and memes that could actually work kind of well. Yes, yes. Certainly great ideas. We'll certainly create some kind of memes around that, around launch, for sure. Excellent. Excellent. Well, yeah, I think you've answered all of my questions that I was able to conjure from reading the docs. Anyone else have any questions? You can, you can drop them now. Or is there anything else, Krip, that we haven't covered that you want to share with the community? I think we have covered everything, but I would like to first thank you again for inviting us to speak here. As well as Fairy and Seekers. Those guys have been super nice and super friendly. Very, very helpful for our entire stage of our development. Apart from that, I would also like to thank all of our emerging community that have tuned in to listen to me. Actually, many of them, I saw someone mentioning that they are watching Liverpool versus Man U. So thanks again. I don't know how many of you have football fans, but that's a classic match to miss. So thanks again. Emilio is asking to come up and speak. Are you into that, or are we going to keep it on the questions on text only? I think it's perfectly fine to let them speak. We can invite them on stage. We can have a one-to-one conversation. That is perfectly fine. All right, let's go. Oh, there we go. Thanks, man. Yeah, so first and foremost, thanks for that presentation. Sounds great. What I really wanted to know was some more specifics on that seed sale. I mean, from what I can tell, it's open right now. So where can we find it? Is the private or kind of the community seed sale over, and now it's the public one? Just, yeah, some more detail on that would be great. Yes, so this is the first sale that we are doing. So right now, our complete focus was getting the protocol ready. So now that we are done, we are raising this private sale. So if you are interested in the private sale, I assume you are a part of the. So you can always invest through them. But if you, if someone, if there is anyone who wants to, like, is a part of another DAO or another investor's group, we are reaching out to many of them. But if you are interested in that, you can certainly come to our Discord and raise your ticket and we can get back. So just come to your Discord, raise a ticket, and we'll get a fix. Yeah, so this won't be that straightforward. Like, we will have some discussions, like, what groups are you representing? What previous project that you're investing? Because we want long-term holders like MCLB. I know they have been, I've seen how they were participating in their seed sales. But for others, we do some vetting. Like, we don't want people selling on the first day. So, yeah, that's it. So you can raise a ticket. We can have discussions. And if everything goes all good, we can say, okay, that's it. Okay, excellent. Well, I guess there is a difference probably between kind of the MCLB getting a VNFT for kind of like the FBOM project and kind of the community getting a smaller part of the presale. So, I mean, I'm not sure what you had in mind there. Yeah, so, yeah, exactly. Both are different. Like, FBOM and SHRAP, both are our partners. They will receive their own VNFT. As well as the MCLB community, they were looking for seed sale, I believe. So, certainly, you are more than welcome to participate. Okay, perfect. Well, thank you. I'll certainly open the tickets up. Bye-bye. Bye. Thank you. Do we have any other questions? Let's, we can see. I don't see any at the moment. So, everyone, get those questions up. And in the AMA text channel, I dropped the link to the Flare DeFi link tree. And in there, you will find everything that's relevant, the website, the docs, the Twitter, the Discord, the Medium. Krip, that's all. Is that all information on the link tree up to date? All those links are going to point to the right places? Yes, the links are pointing to the right places. But as I mentioned, our doc is not yet updated. But it will be updated by end of day two, that I can guarantee. So, we will update all those things. Basically, mostly, there will be some not major changes, just the parameters that we have designed, like the team fees. We have to mention these new things that we have, like the customized emission models. All these things we actually finalized last week. So, right now, they are not in docs. All right. No worries. Looking forward to that. I think we already discussed this phone booth, the timing of the project launch. We have this AMA recorded. You can go back and listen to it. But we already covered that, didn't we, Krip? Yes. So, the launch plan right now, we are planning sometime around the end of March. Right now, what we have fixed is 25th of March. But, yeah, certainly, it could be one week before or after, something like that. Depends on how fast we are able to close our seed sale, how fast we are able to launch community sale, how fast we are able to gather more partner protocols. All these things will depend on that. But, yeah, right now, mostly by the end of March, the protocol will be live. All right. That sounds good. Let's scan around for any more questions. Yanis wants to know, what is the minimum price for the private seed sale? Is there a minimum or maximum per mall? Something like no less than $50, no less than $1,000, or how does that work? Yeah. So, private sale, we are discussing with individual players. We don't have any fixed amount. We will discuss with them, each of them, how much they want to invest. As I mentioned, this is not exactly open for a small-ticket investment. This is, right now, we are only – because dealing with that will be tough right now. We are only looking for ticket investments from, basically, the DAOs, investment groups, as well as seed investors. So, yeah, that's it. So, we'll have some kind of a small – certainly, we have a lower limit. But if anyone is interested, they can come to our Discord, open a ticket, and we can discuss all over there. Excellent. And then, similar idea, I'd like to ask about the public sale. Are you going to have, like, a minimum or maximum for each wallet, or is it just going to be wide open? We are planning for an overflow model. So, $120,000, we are planning to raise. It will be a complete overflow, so anyone can come and put whatever they want. And post-launch, it will be distributed in the ratio. So, no min limit, no max limit. Everyone is invited to participate and put as much money as they want. Excellent. Evan Auti is asking, said he might have missed it because his connection is poor, but wanted to know, when does the private sale start? I think it's already started, correct? Yes. So, we exactly launched this today. Our testnet is now almost ready. The protocol is ready. It's just deploy, and that's it. So, that's why we are starting the seed sale from today. The next two weeks will be full focus on private sale, community sale, onboarding new partners, all these things. Excellent. And Suji Hara would like to know, what is the day limit for a private sale? I guess that means for how long is the private sale going to be open? Are you just going to do it until it fills, or do you have some set dates in mind? See, the private sale, we are completely focusing on raising at least a bare minimum, which will make sure that our protocol is sustainable. So, for private sale, I don't know how to say, but we are being completely greedy. It is FCFS, first comes first served, whoever comes first. If we feel they will support the project long term, they are good for our brand as well. We will provide them the allocation. It will be closed as soon as possible. For the fair launch, for the launch, basically, we want it to be as fair as possible, have as many people holding our token as possible. Therefore, we are going with an overflow model. We want to have many, many people participating in that, so that our token at the day of launch is in many, many hands. So, we don't have to deal with any kind of bump and dump. So, that's the plan right now, if I answered the question correctly. I think you did a good job. All right. So, I'm not seeing any other two relevant questions popping up. So, yeah. How do you feel? Did we cover everything you'd like to cover? You got any last-minute words? No, just thanks to everyone who has come here and joined. I would like to welcome all of you to join our Discord and to participate in our testnet. Break the app if possible. Break the app. There are lots of bug bounties and incentives for that. So, I would like to invite all of you to play around with our testnet, so that once we launch, we are bug-free. There is no issues. Everything works solidly. Yeah, and then for everyone out there that always wanted to be a coder and get into that, you know, like, you can't help build stuff. You can still help break stuff. And that's a really important aspect there. It can actually be a lot of fun. I've done lots of debugging for lots of projects, and it's actually a lot of fun. So, yeah, please take Crypt up on that offer and go try to break their code while you still can. Yes, and if you can break our smart contract code, there is a big, big bug bounty. 1% of the total initial supply is just for bug. So, if you found any issues in our smart contract, there will be a lot of money for you. That's for sure. I hope there is not any. Yeah, it's a good way to go that route. I think you're doing good with that. So, yeah, Crypt, you want to close us out? Yes, I think we covered most of the details of the protocol, some of the questions. But, again, thanks for coming here. And if you have any other questions, anything you want to know, or just drop in the chat and say hi, you're always welcome to tag me in this server or come to the Player Deck server and chat with me. All right, man. Thank you very much for coming and informing everyone. That was really great. I thought your slides were really awesome. Thanks for putting those together, and thanks for concluding the MCLB community. And you have a real good day, brother. Yeah, same to you. Thanks for inviting us. Thanks a lot. Bye-bye.