MER VC POOL

After a long while, we’re proud to announce that Mercurial Finance will launch a VC pool on Bonfida. From now on, Bonfida will dedicate a specific page to host all VC pools, and will help more newly launched projects with the fund raising process.

The idea is to let anybody have the ability to be a venture capitalist and take part in the early rounds of a project’s fund raising process. In partnership with Mercurial Finance, Bonfida will be launching the MER VC Pool where participants can deposit USDC, and the Pool will swap the stablecoins for MER at a 10% discount to IEO price.

How to Participate

FIDA must be purchased to participate in the Pool — it represents the right to be a part of the Pool. For every 25 USDC deposited in the Pool, users must pair it with 1 FIDA. Put simply, to buy 25 USDC of MER you will need to put in 25 USDC + 1 FIDA. All FIDA in the pool will be burned after the Pool initializes.

While MER tokens purchased by the pool are unlocked, participants will not be able to withdraw from the pool for 1 year — which effectively makes the MER “locked”.

As with all other Pools, depositing in the MER VC Pool will receive the MERPOOL token (similar to an LP token) that represents their ownership of the pool. This token can be used to redeem assets from the pool depending on their share of it.

There is a cap of 112,500 USDC, and the pool works on a first come first serve basis.

The guidelines are summarized as the following:

  • The pool will open on May 20th (UTC +8 SGT) 8:00 PM and will close on May 20th (UTC+8 SGT) 9:00 PM

For example,

  • Alice deposits 250 USDC + 10 FIDA into the pool during the window period

(248.75 MERPOOL*(1–0.5%)/ (0.125*0.9) =~2200 MER tokens )

About Mercurial Finance:

Mercurial is building DeFi’s first dynamic vaults for stable assets, providing the technical tools for users to easily deposit and mint stable assets, generating liquidity for their own requirements or offering them to ecosystem participants with such demands.

None of the above is financial advice.

Bonfida does not provide services to personal accounts of current residents of the United States of America, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, or Antigua and Barbuda.

FIDA is not offered within the United States or prohibited jurisdiction.

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Follow us on our socials to keep up to date on any announcements.

Reddit: reddit.com/r/Bonfida/

TG Announcements: http://t.me/BonfidaANN

Telegram: https://t.me/bonfidatg

Website: bonfida.com

Twitter: twitter.com/bonfida

Discord: https://discord.gg/hn4tTcZ7

Medium: https://bonfida.medium.com/

Price Chat: https://t.me/FIDAtrading

Chinese Chat: https://t.me/bonfidacn

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Kingsman Ventures is a venture focused on strategies related to growth hacking projects. We incubate, advise, fund, and support blockchain projects with all our

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Kingsman Ventures

Kingsman Ventures is a venture focused on strategies related to growth hacking projects. We incubate, advise, fund, and support blockchain projects with all our