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Decentralization is one of Thala’s core tenets — a principle that has become more relevant to DeFi protocols than ever in light of recent events. With the sunsetting of our Aptos testnet and mainnet launch only weeks away, Thala must decentralize as a DAO and enable the community to effectively govern critical protocol changes and updates moving forward.
In order to best incentivize continuous participation and active contribution to the protocol, the distribution of the $THL governance token will enable both inflows into the Aptos ecosystem and the bootstrapping of liquidity of Thala’s suite of products.
As such, we are excited to announce the Token Generation Event (TGE) of Thala’s governance token ($THL), which will be conducted on Thala Launch (https://app.thala.fi/launchpad) via the liquidity bootstrapping pool (LBP) between March 31st, 7pm EST (UTC-5) and April 5th, 7pm EST (UTC-5).
LBP Details
The duration of Thala’s TGE will be 5 days, and a maximum of 7% (7,000,000 $THL) of $THL’s total supply will be distributed to the community. The remaining TGE allocation will be used to bootstrap $THL-$MOD liquidity on Thala Swap. The LBP will be conducted against LayerZero Circle, or $zUSDC, with an initial weight of 98:2 ($THL/$zUSDC) and an ending weight of 30:70 ($THL/$zUSDC). Users are encouraged to bridge using https://theaptosbridge.com/bridge or the bridge widget on the Thala dApp.
The estimated starting parameters are as follows:
FDV: $313,000,000
Price: $3.13
$THL Balance: 9,500,000 THL
$zUSDC Balance: $600,000 USDC
Swap Fee: 1%
Use of Funds
All proceeds raised during the TGE will exist on Thala’s MomentumSafe multisig treasury addresses. Thala is committed to utilizing up to 50% of the proceeds for direct protocol operations. This includes seeding liquidity for core liquidity pairs, an insurance fund to backstop potential bad debt from vaults and real-world assets, and bug bounties to ensure utmost protocol security. The remainder will be appropriately budgeted to cover contributor salaries, audit costs, legal fees, and other miscellaneous operational costs at the discretion of DAO governance. As the Thala team and the development roadmap continue to expand, the proceeds will bolster Thala’s war chest and position the protocol in becoming the leading DeFi protocol on Aptos and beyond.
Decentralization is one of Thala’s core tenets — a principle that has become more relevant to DeFi protocols than ever in light of recent events. With the sunsetting of our Aptos testnet and mainnet launch only weeks away, Thala must decentralize as a DAO and enable the community to effectively govern critical protocol changes and updates moving forward.
In order to best incentivize continuous participation and active contribution to the protocol, the distribution of the $THL governance token will enable both inflows into the Aptos ecosystem and the bootstrapping of liquidity of Thala’s suite of products.
As such, we are excited to announce the Token Generation Event (TGE) of Thala’s governance token ($THL), which will be conducted on Thala Launch (https://app.thala.fi/launchpad) via the liquidity bootstrapping pool (LBP) between March 31st, 7pm EST (UTC-5) and April 5th, 7pm EST (UTC-5).
LBP Details
The duration of Thala’s TGE will be 5 days, and a maximum of 7% (7,000,000 $THL) of $THL’s total supply will be distributed to the community. The remaining TGE allocation will be used to bootstrap $THL-$MOD liquidity on Thala Swap. The LBP will be conducted against LayerZero Circle, or $zUSDC, with an initial weight of 98:2 ($THL/$zUSDC) and an ending weight of 30:70 ($THL/$zUSDC). Users are encouraged to bridge using https://theaptosbridge.com/bridge or the bridge widget on the Thala dApp.
The estimated starting parameters are as follows:
FDV: $313,000,000
Price: $3.13
$THL Balance: 9,500,000 THL
$zUSDC Balance: $600,000 USDC
Swap Fee: 1%
Use of Funds
All proceeds raised during the TGE will exist on Thala’s MomentumSafe multisig treasury addresses. Thala is committed to utilizing up to 50% of the proceeds for direct protocol operations. This includes seeding liquidity for core liquidity pairs, an insurance fund to backstop potential bad debt from vaults and real-world assets, and bug bounties to ensure utmost protocol security. The remainder will be appropriately budgeted to cover contributor salaries, audit costs, legal fees, and other miscellaneous operational costs at the discretion of DAO governance. As the Thala team and the development roadmap continue to expand, the proceeds will bolster Thala’s war chest and position the protocol in becoming the leading DeFi protocol on Aptos and beyond.
Keep Up to Date
We are excited to share more details on the LBP process, product roadmap, and $THL tokenomics leading up to the launch. To stay up to date, join our community at https://discord.gg/thala.
Thala is a decentralized finance protocol powered by the Move language, enabling seamless borrowing of a decentralized, over-collateralized stablecoin in Move Dollar and capital-efficient liquidity provisioning via a rebalancing AMM on the Aptos blockchain.
Website: thala.fi
Twitter: twitter.com/thalalabs
Documentation: docs.thala.fi
Disclaimer
This article by Thala Labs and/or its affiliates (“we”, “us” and “our”) is for information purposes only. We do not provide tax, legal, insurance or investment advice, and nothing in this article should be construed as an offer to sell, a solicitation of an offer to buy, sell or issue or subscribe for, or a recommendation for any security, investment, cryptocurrency, token or other services, product or commodity by us or any third party. You alone are solely responsible for determining whether any purchase, sale, investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your personal objectives and personal and financial situation and for evaluating the merits and risks associated with the use of the information in this article before making any decisions based on such information or other content. You should consult a lawyer and/or tax professional regarding your specific legal and/or tax situation. Past performance is no guarantee of future results. Therefore, you should not assume that the future performance of any specific investment, cryptocurrency, token, commodity or strategy will be profitable or equal to corresponding past performance levels. Inherent in any such transaction is the potential for loss. No recommendation or advice is being given as to whether any transaction is suitable for a particular person. By accessing this article, you acknowledge and agree to all of the foregoing and that you bear responsibility for your own research, due diligence and transaction decisions. You also agree that we, our affiliates and our respective directors, officers, employees, consultants, shareholders, members, representatives, advisors and agents will not be liable for any decision made or action taken by you and others based on this article, news, information, opinion, or any other material published, discussed or disseminated by us.
This article contains forward-looking statements or forward-looking information (referred to collectively as “forward-looking statements”). Forward-looking statements can be identified by words such as: “anticipate”, “intend”, “plan”, “goal”, “seek”, “believe”, “predict”, “project”, “estimate”, “expect”, “strategy”, “future”, “likely”, “may”, “should”, ”would”, “will”, and similar terms and phrases and the negatives of such expressions, including references to assumptions. Examples of forward-looking statements in this article include, among others, statements we make regarding our future plans, expectations and objectives.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: reliance on blockchain technology and blockchain technology service providers; digital asset transactions being irrevocable and losses occurring from such transactions; our use and reliance on proprietary data and intellectual property in its business; potential misuses of digital assets and malicious actors in the digital asset industry; digital assets potentially being subject to hold periods; developments and changes in laws and regulations; and disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment. Readers are cautioned that the foregoing list is not exhaustive.
Any forward-looking statement made by us in this article is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Keep Up to Date
We are excited to share more details on the LBP process, product roadmap, and $THL tokenomics leading up to the launch. To stay up to date, join our community at https://discord.gg/thala.
Thala is a decentralized finance protocol powered by the Move language, enabling seamless borrowing of a decentralized, over-collateralized stablecoin in Move Dollar and capital-efficient liquidity provisioning via a rebalancing AMM on the Aptos blockchain.
Website: thala.fi
Twitter: twitter.com/thalalabs
Documentation: docs.thala.fi
Disclaimer
This article by Thala Labs and/or its affiliates (“we”, “us” and “our”) is for information purposes only. We do not provide tax, legal, insurance or investment advice, and nothing in this article should be construed as an offer to sell, a solicitation of an offer to buy, sell or issue or subscribe for, or a recommendation for any security, investment, cryptocurrency, token or other services, product or commodity by us or any third party. You alone are solely responsible for determining whether any purchase, sale, investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your personal objectives and personal and financial situation and for evaluating the merits and risks associated with the use of the information in this article before making any decisions based on such information or other content. You should consult a lawyer and/or tax professional regarding your specific legal and/or tax situation. Past performance is no guarantee of future results. Therefore, you should not assume that the future performance of any specific investment, cryptocurrency, token, commodity or strategy will be profitable or equal to corresponding past performance levels. Inherent in any such transaction is the potential for loss. No recommendation or advice is being given as to whether any transaction is suitable for a particular person. By accessing this article, you acknowledge and agree to all of the foregoing and that you bear responsibility for your own research, due diligence and transaction decisions. You also agree that we, our affiliates and our respective directors, officers, employees, consultants, shareholders, members, representatives, advisors and agents will not be liable for any decision made or action taken by you and others based on this article, news, information, opinion, or any other material published, discussed or disseminated by us.
This article contains forward-looking statements or forward-looking information (referred to collectively as “forward-looking statements”). Forward-looking statements can be identified by words such as: “anticipate”, “intend”, “plan”, “goal”, “seek”, “believe”, “predict”, “project”, “estimate”, “expect”, “strategy”, “future”, “likely”, “may”, “should”, ”would”, “will”, and similar terms and phrases and the negatives of such expressions, including references to assumptions. Examples of forward-looking statements in this article include, among others, statements we make regarding our future plans, expectations and objectives.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: reliance on blockchain technology and blockchain technology service providers; digital asset transactions being irrevocable and losses occurring from such transactions; our use and reliance on proprietary data and intellectual property in its business; potential misuses of digital assets and malicious actors in the digital asset industry; digital assets potentially being subject to hold periods; developments and changes in laws and regulations; and disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment. Readers are cautioned that the foregoing list is not exhaustive.
Any forward-looking statement made by us in this article is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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