IDO Announcement: $ARGO Launching on VVS Finance
Argo Finance is officially partnering with VVS Finance and will be launching on the VVS Launchpad on 28th April 2022.
Ahoy Argonauts!
We are excited to announce the $ARGO token IDO happening on the launchpad of the leading DEX of Cronos — VVS Finance!
Liquid Staking will be arriving on Cronos very soon. Prior to the launch of Argo liquid staking, we will be launching the $ARGO token which will be the utility, revenue sharing, and governance token of Argo Finance.
When it came to choosing our launch partner, we wanted to be careful and made sure that there are long-term synergies between us and our first ever partner. VVS Finance fits the bill perfectly as they are the leading DEX on Cronos with a very robust roadmap to come.
VVS will also be our first official partner where you will be able to yield farm your liquid stake bCRO and earn additional yield farming rewards on top of your CRO staking yields for maximum efficiency! Imagine earning CRO staking yields on top of yield farming rewards while you are yield farming on VVS Finance!
Read on to find out about the launch date and the exact details of the launch.
IDO Details
Mark your calendars for 28th April 2022! The $ARGO IDO will happen on the VVS Finance launchpad.
Sale Start Date: 12pm UTC on Thursday, April 28th, 2022
Duration: 24 hours
LP Seeding: 12pm UTC on Friday, April 29th, 2022
Amount to Be Raised: $3,000,000 USD (Raise in $CRO)
Fully Diluted Valuation (or equivalent): $50,000,000 USD
Units for sale: 60,000,000 $ARGO at $0.05 USD per token
Sale Split: 20% to Basic, 80% to Unlimited
IDO Method: Basic Sale: ‘Gem Fair’ and Unlimited Sale: ‘Gem Warehouse’. Both sales will be conducted using the Overflow Method.
How should I prepare for the IDO?
- Get your $CRO ready as the IDO on VVS Finance will be accepting $CRO
- Make sure you meet the minimum requirements to qualify for the Basic Sale. Read this detailed guide provided by VVS Finance to understand how to be eligible for the Basic sale!
What is Argo Finance?
Argo Finance is the premier liquid staking protocol built on top of the Cronos blockchain that aims to unlock the value of all staked CRO and maximize the capital efficiency of CRO across the Crypto.com ecosystem.
Argo Finance offers an alternative to traditional CRO staking with an innovative CRO liquid staking mechanism that improves capital efficiency without compromising network security. This is made possible through the issuance of bonded CRO (“bCRO”) which is a liquid staking derivative that represents your staked CRO and can be utilized across the DeFi ecosystem in Cronos to generate additional DeFi yields.
bCRO is a yield-bearing token which means that the staking yields generated every block by staking CRO are directly accrued to bCRO. Hence, as more CRO rewards are accrued to the bCRO contract, the value of each bCRO is backed by more CRO, increasing its value.
What is VVS Finance?
VVS Finance is the leading Decentralized Exchange (DEX) on Cronos and the DEX has been live since the launch of Cronos Mainnet. VVS has rapidly grown since its launch accruing over $1.2b USD in TVL. VVS will be one of the core partners of Argo Finance where bCRO liquid staking users can proceed to VVS to yield farm their bCRO tokens, earning yield farming rewards on top of CRO staking rewards.
DISCLAIMER: This article does not constitute investment advice. All projects are subject to both high market risk and volatility. We ask that you do your own research and any due diligence required.
