Hello KEEPers!
This is going to be a quick one before we kick off our pre-sale tomorrow (Nov 16/1800 UTC — more details on Discord). At this point, it is worth mentioning that we only wish to clarify doubts that we’ve heard from the community and put every decision in perspective.
Let’s go!
Whitelist Process
- Statistics:
We received a total of 2,347 unique submissions out of which, 2,210 members were verifiable on Discord. Of the 2,210 members, we rolled out 932 whitelist spots distributed in the following manner
- 584 standard allocations: These were given to members who have engaged in some form or manner; either a tweet, conversation, meme etc — basically something to keep the community engagement up
- 287 senior allocations: These were given to members who have not only engaged on Twitter/Medium/server channels, but have also actively participated in harnessing/starting discussions and/or have actively invited other people etc.
- 61 super senior allocations: These were given to people who not only engaged, but went out of their way to help the community and admins with queries and decisions.
This design choice was taken keeping in mind the long term success of the community and the project. If, however, you feel that you got less than what you deserved and/or you have been accidentally missed on the WL because of any reason, please fill out this form and we will re-evaluate.
2. Roles:
Many of you have already been assigned some roles — all of you are eligible for a spot on the whitelist. If there is any discrepancy here, please fill the form and let us know.
That said, roles and allocations are distinct. Your final allocation can be more than what your role entitled you to (but not less, which is why roles matter). On the other hand, you are eligible for allocations even if you don’t hold a role. For example, let’s say you have been mod-ing your language communities well, actively translating and and helping folks out, your role could be that of an Orbiter and allocation $1000 of a senior — that’s totally possible.
At the end of the day, we want to reward contribution.
Pre-Sale
- Logistics: The how, when, what of it — most of these details are given in our previous article. But here are some important updates, specially regarding the timelines.
- The pre-sale kicks off Nov 16/1800 UTC and ends Nov18/1800 UTC. You have 2 complete days to send your desired amount as per allocation.
- The process is simple, you just need transfer your desired amount to our Gnosis safe multi-sig wallet the address of which is 0x791f5eF220DE3324Ff16E9ED56Ab13a0BE2ac157
- As a tip, you are allowed to oversubscribe (i.e. send above your allocation), but please bear in mind that the maximum amount of overallocation anybody is eligible for is $500.
So, if your allowed allocation is $2000, max you should send us is $2000 + $500 = $2500 in case you want to participate in oversubscription. Any amount send beyond allocation + $500 will be sent back at your cost. Also, please note that oversubscribing doesn’t guarantee that you will receive extra tokens, we will start allocating to over-subscriptions on a FCFS basis and the process will stop as soon as the tokens exhaust.
- Coins accepted: We will be accepting Eth, DAI, USDT and USDC. The choice is completely yours. The price at which #tokens for transfer would be calculated in case you send us Eth is $4649. This was the average of last 3-day mean of open, low, high and close. For example, if your allocation is $1000, and you want to buy 80 tokens worth $800 with eth, you’ll have to send us (10/4649)*80 = 0.172 eth.
2. Tokenomics of the aKEEPERs: The IDO price per token would be $10. We do not currently know how many alpha tokens we’re gonna be minting (= aKEEPERs to be sold in IDO + seeded in LBP) because some addresses still need to be added to the WL, but here’s a calculation:
max #aKEEPERs to be sold in the IDO = (#standard*500 + #senior*1000 + #superSenior*2000)/10
Like pointed out in the last article, the remaining aKEEPERs left unallocated after taking care of desired allocations + over-subscriptions + rewards would be burnt.
aKEEPERs would be airdropped to the address we received the deposit from within a day after the closing of the pre-sale.
Public Launch
Capital raised from the IDO would bootstrap the LBP which would further put into ignition our pools on Sushiswap when we launch on the main net (more details on the main-net launch will be published in future articles).
For the LBP, we would be using the Copper Launch platform as used by Klima DAO. We think it’s a tried and tested method, and we’re going for it simply because we couldn’t find a better tool for a fair launch to distribute alpha tokens widely and we don’t want to over-engineer the solution.
The idea here is not to deep dive into the nitty-gritties of the public launch (that would be done in the next article), but to answer a few questions the Kepler community has been asking:
- At what price will the LBP be seeded? Given we have a ballpark of how much capital was raised in the IDO, the starting price would be around $100.
- What will I be using to pay on Copper Launch? Gas would be paid for in Eth, and the liquidity pool would have USDC.
- How many alpha tokens would you be forging for the public sale? We will give the exact number in the next article, but consider a ball-park of 120k to 150k. So, total minted aKEEPERs would be this and the ones parked for the IDO.
- What is the tentative date for public sale? The public sale would be a 3-day event which we will tentatively start a week or so after the pre-sale is over.
How does the Kepler SPV really work?
Let’s talk a bit about how we’re currently thinking to completely decentralise the decision-making process here at Kepler. We want to set up the stardust, empower the right people, and become one with the Galaxy as soon as possible.
But first, what really is the goal of an investment DAO like Kepler?
To allow anybody will capital to get an exposure to web3.0 projects (not just rich fellas entering a hedge fund as an LP with a $100k check size and the tag of being an “accredited investor”). What would be, if at all, our sectoral thesis and how do we source the initial pipeline of project are questions outside the scope of this article for now. But rest assured, we would be answering these as we go along.
How do we make sure the money in the vault is only used for the best investments that have an intrinsic long term value and not some shitcoin/ponzi scheme is definitely something that warrants an answer.
There are two models that we debated before finally settling onto what we did. The first model puts complete power in the hands of the community to source deals, present their analysis to the community, get a vote on the cheque size, invest the capital etc. We chose not to go with this model primarily because:
- Not every member of the community has the requisite know-how, time, and inclination to actively invest in the right projects.
- Reaching a consensus would not only be difficult, it will be a tedious task slowing down the entire process
The second model treats the DAO members (whose capital provides liquidity the treasury) as the limited partners in the arrangement — the investments are actively made by an investment vehicle that is managed by an elected team of members compensated through performance-related fee. This so called “fund management team” will be elected based on certain areas of expertise — they could be anyone with aligned incentives in the KeplerDAO ecosystem. The members would be voted in by community members basis certain criteria that allows them to be eligible for holding the posts in the FMT.
We would be sharing more details on how this FMT will function in greater depth in the upcoming articles. Till then, we hope all questions regarding the IDO have been answered.
