Get Ready for Public Sale
Following our mainnet launch on October 19th, our total deposit value amounted to over $100M within 20 minutes and $200M within 12 hours on the same day. Now, we are at over half a billion!
Since officially launching our platform, within 2 weeks, we have added over 10 collateral assets and liquidity pools under Lend and X-Farm, including our being the first lending protocol on Solana to support wormhole-wrapped Terra USTw. Moreover, we have also announced our initial retroactive liquidity mining program with rewards tracking in our interface. And last but not least, we have more than 30K twitter followers; and with our community-driven approach, we have also created various campaigns to engage apricots (such as quiz, ‘Expression of Interest’, #ApricotEDU and etc.), which eventually formed the basis for our expanded whitelisting process.
Now, we are finally about to launch our APT token through a public sale! 🍑 🍑 🍑
A total of 4% of the APT supply is set aside for the IDO. We are conducting the public sale at a fixed price of $0.3 per APT token. The IDO will be live on our website ahead of the timing of the sale.
There will be two rounds:
1️⃣ Whitelist-only Round
- Only open to whitelisted wallets that pass KYC before the sale starts
- Start time: Nov 18th, 2pm UTC | 9am EST | 10pm HKT
- Price: fixed at $0.3 USDC per APT token
- Maximum allocation per wallet: $6,000 USDC
- 30,000,000 APT tokens available (3% of supply)
- This round stops when all 30,000,000 APT tokens are sold out
- Note: The KYC process is done by Fractal ID. All eligible users who are whitelisted will receive a KYC link with detailed instructions by email in the next 24 hours.
2️⃣ Open-for-all Round
- Open to all wallets subject to geographic fencing
- Start time: Nov 19th, 2pm UTC | 9am EST | 10pm HKT
- Price: fixed at $0.3 USDC per APT token
- Maximum allocation per wallet: $4,000 USDC
- 10,000,000 APT tokens available (1% of supply)
- This round stops when all 10,000,000 APT tokens are sold out
- Note: the IDO is not available to users in the following regions: Afghanistan, Ivory Coast, Cuba, Iraq, Iran, Liberia, North Korea, Syria, Sudan, South Sudan, Zimbabwe, Antigua, United States of America, American Samoa, Guam, Northern Mariana Islands, Puerto Rico, United States Minor Outlying Islands, US Virgin Islands, Belarus, Albania, Burma, Central African Republic, Democratic Republic of Congo, Lybia, Somalia, Yemen, Mainland China and Crimea & Sevostopol
Token claiming & trading: shortly after the second round is closed, we will
- Make your reserved APT tokens claimable from our website
- Set up APT-USDC pool on Raydium
There are 1 billion APT tokens in total. Token distribution is as follows:
- Initial circulating supply is 6%, which consists of 4% public sale, unlocked retro rewards, initial token liquidity & other protocol incentives etc.
- Private sale investors are subject to a 14-20 month vesting schedule
- Team & advisors are subject to a 2-year vesting schedule with a 6-month lockup
- 60% of APT tokens are allocated to the community, with 40% for liquidity mining
- IDO proceeds and protocol income will contribute to Apricot’s reserve and treasury, which will be used to grow insurance fund, buy back APT tokens and execute future community plans if needed
Coming soon, the following action items are on our immediate or near-term horizon, and they broadly fall under 3 categories.
1️⃣ New Features
In-app Swap: to allow current users to more conveniently exchange assets to supply and repay balances
Token Staking: shortly after TGE for APT to be staked for additional rewards
New Yield Strategies: explore fixed rate loans and other yield-maximizing strategies through partner integrations or in-house innovations to maximize users’ capital efficiency
2️⃣ Refining Existing Features
Dashboard: (1) A “history” table that lists all of user’s interaction with Apricot to date; (2) Better overall earnings reporting that helps users track their farming impermanent loss in addition to LP tokens earned from auto-compounding
Apricot Assist: (1) Expand coverage for non-stable token repayment; (2) support price-triggered auto-swap (stop-loss and take-profit)
Establish Apricot DAO for APT holders to propose and vote on decisions such as the amount / rate of token buyback with our positive cash flow since day 1
At Apricot, we have one simple and clear mission: to build next-gen decentralized financial products with the user at the forefront.
To that end, we have created a lending protocol that’s far beyond pure lending and borrowing in order to help users maximize yields through cross-margin leveraged yield farming (X-Farm) while covering user downside with an automated self-deleveraging mechanism (Assist). Both features are first-in-market innovations that are not just new in Solana but also across the broader DeFi landscape.
This is just the beginning for Apricot.
A long way to go and an exciting journey ahead!
Thank you for your support 🙏