RomeDAO: Whitelisting & Launch

Launch Sequence

After the four day event, a short period of 1–2 weeks will exist as a buffer between the auction and launch. During this time aROME will perform price exploration, helping inform the eventual launch price of ROME. Once we are ready for launch, the sequence will go as follows:

a.) ROME will be available to claim from aROME in the presale UI at 1:1. For every one aROME, 1 ROME will be claimable.
b.) The 320k movrFRAX collected from the early contributor portion will be used to create a $640k FRAX/ROME Solarbeam LP. DAI from the community portion will also be used for adding more liquidity. We’re targeting ~$1M total.
c.) The ~3M+ DAI from the broader community portion will be used to purchase more FRAX for the FRAX/ROME pool, MOVR for the eventual MOVR/ROME LP on Solarbeam, MIM for the MIM/ROME LP on Sushi, and initial purchasing of wsOHM.

We have finished getting wsOHM supported on the anyswap bridge to Moonriver. Soon after launch, we will begin our purchasing of wsOHM to start moving towards our target allocation, bridging wsOHM into the Moonriver ecosystem. Governance will vote on where to set this target in the coming weeks.

Additionally, we want to emphasize the update that FRAX and FRAX/ROME LP on Solarbeam will be the only bonds supported immediately at launch. The bonds for MOVR/ROME LP, MIM/ROME LP, and wsOHM will be added in the weeks that follow. DAI from the treasury will be used to purchase the necessary assets for bootstrapping the initial LPs.

The community is targeting the last week of November to open up claims for ROME alongside the full release of staking and bonding. Though there is no guarantee that the launch will happen during this time. We will take as long as we need to make sure we get the launch as close to right as possible. Expect things to break — this is an experimental project on an experimental chain with thousands of participants.

Final Considerations

Upon initial launch of the token, the DAO will be fully decentralized, opening up all decision-making to a governance process that will happen via initial discussions on Discord followed by a voting process on Snapshot.

All parties are free to build and present governance votes to implement what they’ve built. Governance is organized into “houses” and independent parties each representing their own interests in the DAO. The first houses have started laying out a plan they will share soon, but ultimately anyone in the community has say to build and contribute to the glory of Rome. Other groups have already started forming for additional houses to organize and govern the future of Rome.

In the coming days the community will hold open discussion on this post’s proposal. Only upon alignment of the community will this process be authorized to proceed, as no central party is responsible for conducting this token generation event.

Please read the following disclaimer for participation in the distribution.

Please note: participation in this community distribution comes with abundant risk. First, you’re trusting a global community of random anons and strangers on the internet that they’re going to effectively coordinate on their grand gamified DeFi experiment. Second, the code is unaudited and easily could be prone to exploits. Third, without knowledge of how the code functions, your funds could easily be sent to third party wallets purely for the gain of the creators of the smart contracts. Please do not participate in the token distribution unless you thoroughly understand how to verify the code, transfer of funds, and all other mechanisms in place. When participating, please consider your funds lit on fire, as there is 0 promise or likelihood of any future monetary gain. The rebasing ROME token is for governance purposes and broader participation in the DAO. This is a global decentralized experiment of 20,000 strangers on the internet through a random Discord server; treat it as such.

For Rome. 🏛

Discord: https://discord.gg/romedaofinance
Twitter: https://twitter.com/romedaofinance

Source: https://medium.com/@RomeDAO/romedao-whitelisting-launch-dcadf18026b7?source=rss——cryptocurrency-5