📣 It is highly recommended to read these links before proceeding:
When will the 2.0 launch be? although it may seem a little vague, the launching will be in a few days.
Initially, we had planned it to be before the end of the year. And as a matter of fact, the part concerning the smart contracts and its configuration is done. We just need to connect it with the webpage (the frontend, that is also practically done) and the presale. That is, the technical part is practically finished, but because of the delay, we are postponing the presale + launch we had planned.
Why is there a delay? Because of unrelated issues (the unavailability of many members due to COVID quarantine for being close contacts). We counted on working more hours this December, but we have been dealing with difficulties and we could not progress as expected. Although it is Christmas, we are working hard to launch the 2.0 as soon as possible. We have not set a date, but we definitely want to do it during holidays.
We will post all dates through all channels, so do not worry. If you are following us on any of them, you will see it. We will announce it 2 or 3 days in advance, there is no chance you are going to miss it. Release during first week of January is extremely likely.
✍🏻 What is the plan?
1️⃣ All dates will be announced through the official channels (Twitter, Telefram, Discord).
2️⃣ There will be a little whitelisted presale to raise some liquidity.
3️⃣ A little IDO will be made in another community
As you already know, on the occasion of the launching of BeGlobalDao, we are opening a new community in Discord. It is a great chance to capture a different kind of audience and to make the BeGlobal ecosystem grow. We also need to raise some funding for the initial liquidity of BeGlobalDAO. We have decided to do a very capped whitelist to promote the community through it and allow those who collaborate the most with the project be the first ones to buy GLBD.
Before explaining the details of the presale, let’s take a break to define how the protocol 2.0 works:
▶️ A GLBD can be created as long as there is 1 BUSD in the treasury. That is, if there are 1.000 BUSD in the treasury, 1.000 GLBD can be created.
▶️ Otherwise, a GLBD cannot be created. The DAO must withdraw funds of the treasury to buy GLBD and burn them, raising the price above 1 BUSD to be able to create more GLBD.
In the event that GLBD is worth $1, the inflection point between the growth of the protocol and its destruction will be too close. Consequently, the initial price must be higher than $1.
Due to the migration (explained later), it has been decided that the price starts at $20. Therefore:
▶️ The supply (initial amount of tokens) is small.
▶️ The protocol is healthier from the beginning.
▶️ It allows us to have a buffer to migrate from GLB to GLBD for those who have GLB. A GLB-BUSD LP will be migrated much easier because we are adding BUSD to the treasury.
▶️ All funds collected in the presale will be used to deposit bonds on behalf of the investors. That is, the first days and until the vesting period is over, those who had bought the presale will receive a bond of GLBD-BUSD. Consequently, there will barely be any selling pressure in the beginning. To sell a token, you will have to buy it in the market first.
👉🏻 One more detail to keep in mind is that 100% of the BUSD gathered must be used to add liquidity (and make the bond on behalf of the users). The only way to avoid it is if we give GLBD to all buyers from the presale, but as we mention in the previous bullet point, our interest (and everyone’s) is a good launch (price wise) of the GLBD, and therefore we cannot offer a discount if we want to meet this premise. We prefer to have no selling pressure at all at launch.
👉🏻 Lastly, the presale will be very limited to have high buying pressure at launch: there will be 1.000 whitelisted people at most, who will be able to send up to $200/$400 to buy GLBD.
We are also planning on running an IFO of $50.000–100.000$ in another DeFi to attract part of that community and make the BeGlobalDAO one bigger (we are just covering last minute details to see if it is possible, time-wise). In total, we are aware that there will be plenty of people who will not be able to buy the presale or, in case they do buy, they can only buy 10–20 tokens (at $20 each).
😏 You can only imagine the perfect storm that is being summoned for a good launch. If you have interest in GLBD, make sure to be the fastest, because things will get rough at the launch. 🏃🏻
Continue reading about the migration to 2.0:
🚀 Official references and everything about BeGlobal🚀
🌐 Discord: https://discord.gg/ZSHSxTrmar
💬 TG Chat: https://t.me/BeGlobalFinance
📣 News Channel: https://t.me/BeGlobalAnnouncements
🕊️ Twitter: https://twitter.com/Beglobaldefi