💰Liquidity Amplifier: Complete
Last updated
Last updated
Before its mainnet launch and subsequent availability for trading on a DEX, MAXX Finance successfully completed a Liquidity Amplifier stage. This pre-launch phase, structured as a sacrifice event, provided users with the opportunity to acquire $MAXX tokens at more favorable terms compared to a direct, low-liquidity launch. A total of 20 billion $MAXX tokens, constituting 20% of the total supply, were reserved for this event. Participants sacrificed their MATIC over 40 Amplifier days, and the distribution of $MAXX tokens at the end of this period corresponded to the daily MATIC contributions. The allocation of $MAXX tokens varied each day as the values were different each day. 11/10/23 There was over 186,000 $MATIC raised during this even't and MATIC's price was average to around $1.50 at the time totaling over $279,000 worth of MATIC sacrificed. The price of MATIC swiftly crashed to below $0.60 and is starting only now recover.
Launching MAXX Finance through a Liquidity Amplifier instead of directly onto a DEX with limited liquidity was a strategic decision to promote fairness. A direct launch could result in early buyers acquiring a significant portion of the supply at low costs, leading to rapid price inflation and potential dominance by a few 'whale' investors. Such whales could later sell their holdings for substantial profits, detrimentally impacting the ecosystem's liquidity and stability. The Liquidity Amplifier, with its 40-day period, ensures all participants have equal opportunity, distributing tokens more equitably, thus fostering a healthier and more robust ecosystem without unfair advantages.
The initial liquidity pair for MAXX Finance was deposited temporarily to QuickSwap to allow MAXX to have a market, serving as a foundational step to establish the platform and gain momentum. This approach was intended to provide initial stability and facilitate early transactions. As MAXX Finance progresses towards self-sufficiency and achieves greater traction, plans are in place to rebalance the liquidity. This strategic rebalancing is aimed at further enhancing the platform's stability and sustainability in the evolving DeFi landscape.
