Bashoswap Private Sale: How Bashoswap Will Use Funds
With less than 12 hours to the start of the Bashoswap Private Funding round,
This marks a great step in revolutionizing the De-Fi industry by building a 100% Community Backed and Governed De-Fi protocol.
With this in mind, we will use this medium to explain how the contributions will be used.
Building and developing a functional & scalable DEX on Cardano in record time is a capital and developer intensive mission, especially for new entrants.
The Bashoswap protocol must see rapid adoption in order to realize the mission of becoming a backbone of Cardano’s De-Fi ecosystem.
We recognize that this is extremely ambitious. Our primary goal is to maximize the chances of Bashoswap’s impact and have a long term success mindset, and it’s not going to happen without a stable financial base.
We want the community to feel comfortable with our intended use of the funds that will be raised during the funding rounds.
Minimum And Maximum Amounts
In order for the Bashoswap Token sale rounds to be considered a success, the minimum threshold is ADA 2,500,000.
If ADA 5,500,000 has been collected, ADA 2,000,000 will be added to the Bashoswap Financing Fund (BFF) which will be controlled by a 3/5 Multi-Sig wallet.
The maximum amount that can be raised in the entire Bashoswap sale rounds is ADA 10,862,500.
How will the funds be used?
The first ADA 2,500,000 raised will be devoted solely to the development, marketing and implementation of the Bashoswap DEX, Staking & Launchpad platform.
As mentioned above, once ADA 5,500,000 has been raised, the extra ADA 1,000,000 will be set aside for the liquidity pool.
All funds raised after the Private round will be split in a 3:1 Ratio between the liquidity pool and the Bashoswap development fund.
Our ultimate target
Once we manage to hit our target of ADA 10,862,500, the funds will be divided in the following way: ADA 4,287500 will be devoted to development (developing, marketing and implementing bashoswap platform globally) and ADA 6,575,000 will be set aside for the liquidity pool fund.
Many crypto projects seem to suffer the same fate: a very promising team with an interesting idea that never ends up being used by anyone.
We will not let this happen to Bashoswap. We will employ strategic user acquisition models and maximizing the real-world usage and application of the Bashoswap protocol as we are well-positioned to build and develop products that will be loved by users.
Implementing a methodical orchestration of business development, user acquisition, legal, and compliance work.
We have also deployed the EVM Version of Bashoswap on the Milkomeda testnet and also tested with some Swap, Add LP & Farm functions.
View Transaction Here.
Public Testnet on Milkomeda will start after the Private Sale Ends.
What is Milkomeda?
Milkomeda is a novel protocol that will interconnect and create a path for long-term scaling, focused on making EVM compatible with non-EVM (Ethereum Virtual Machine) cryptocurrencies to achieve and maintain mass adoption.
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