Thala Labs, a decentralized financial firm that develops DeFi applications on the Aptos blockchain, has just announced the launch of their Token Generation Event (TGE) for Thala's governance token ($THL) via the liquidity bootstrapping pool (LBP) on Thala Launch.
The event will take place between March 31st, 7pm EST (UTC-5) and April 5th, 7pm EST (UTC-5).
During the five-day TGE, a maximum of 7% (7,000,000 $THL) of $THL’s total supply will be distributed to the community. The remaining TGE allocation will be used to bootstrap $THL-$MOD liquidity on Thala Swap. The LBP will be conducted against LayerZero Circle, or $zUSDC, with an initial weight of 98:2 ($THL/$zUSDC) and an ending weight of 30:70 ($THL/$zUSDC).
The estimated starting parameters are as follows:
- FDV: $313,000,000
- Price: $3.13
- $THL Balance: 9,500,000 THL
- $zUSDC Balance: $600,000 USDC
- Swap Fee: 1%
"All proceeds raised during the TGE will exist on Thala’s MomentumSafe multisig treasury addresses. Thala is committed to utilizing up to 50% of the proceeds for direct protocol operations. This includes seeding liquidity for core liquidity pairs, an insurance fund to backstop potential bad debt from vaults and real-world assets, and bug bounties to ensure utmost protocol security. The remainder will be appropriately budgeted to cover contributor salaries, audit costs, legal fees, and other miscellaneous operational costs at the discretion of DAO governance. " the team wrote in the statement.
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