Ever since the first day of our [REDACTED] inception, building a strong community has always been a #1 priority for us. We firmly believe that our early supporters should and will be fairly rewarded.
As such, we have decided to forgo the traditional VC private raise and decided to allocate an additional portion of token supply to our community at VC prices, through an innovative launch mechanism — Community Farming.
What’s in it for you, you ask?
This is the only time in the lifespan of Argo that you will be able to acquire the $ARGO tokens at exclusive prices, from a price of $0.00003 to $0.01 per $ARGO. You will be able to farm $ARGO at up to 1875x discount from the public sale IDO price.
Yes Argonauts, you heard it right. For the first time ever, you get to be the VC behind Argo.
TL;DR is below for all you busy people.
Argo Community Farming allows early supporters of Argo to earn an attractive amount of $ARGO tokens by staking CRO in Argo’s Community Farming Vault.
For our early supporters, we are giving you a chance to farm $ARGO at exclusive pre-public launch prices. We have set aside 15 Million $ARGO for this farming, equivalent to 1.5% of supply, and the Community Farming event will last for a month.
How does it work exactly?
To farm $ARGO tokens, you will need to stake CRO within the Argo Community Farming Vault. $ARGO will be emitted on a per block basis, hence the earlier you stake CRO on Argo, the more $ARGO tokens you will be able to earn. The amount of $ARGO farmed will be determined by the size of the participant’s CRO staked and the duration of farming.
On the backend, Argo has enabled the infrastructure for CRO staking directly on Cronos which was previously not possible. A portion of the CRO staked during the Community will be staked on the Crypto.org Chain for two reasons:
The Community Farming Event is the only time you will be able to farm $ARGO at a very attractive APR even before the public launch of the $ARGO token. For the first time ever, you get to be the VC behind Argo.
Airdrop — Qualify for Argo Treasure Chest Key Airdrop
The event will start in early April (ETA: Early/Mid April 2022), and will last for 1 month.
We are finalizing our smart contract Audits and once the Audits are fully completed, we will kick-off the event. Make sure to follow Argo’s Twitter, Telegram, and Discord for the latest updates!
Get your CRO ready to farm delicious $ARGO tokens at the start of the Event. Remember, the earliest CRO stakers will earn massive amounts of rewards right off the bat (up to 1875x discount on public sale prices)
If you have CRO staked on Crypto.org Chain:
Get started with the 28-days unstaking/unbonding period asap!
Once Argo Mainnet is live, you will have your CRO ready to participate in the Community Farming Event. Liquid Staking will go live immediately after the Community Farming Event and you will be able to liquid stake your CRO moving forward.
Once Argo Community Farming is over, you will continue to have full custody of your staked CRO in the Community Farming Vaults.
The Community Farming Vault will start running automated auto-compounding strategies for you using liquid staking, which you will be able to earn compounded yield farming rewards, denominated in CRO.
Post-event Transition into Argo’s Auto-compounding CRO vaults:
All farmed $ARGO will be undergoing a 6 months daily vesting schedule and is subjected to an early withdrawal penalty
We want to align long-term incentives with early supporters and long-term CRO stakers of Argo Protocol. To incentivize long-term CRO stakers, we have implemented a tiny penalty for early withdrawals:
The penalty is applicable only on unvested $ARGO rewards. Calculated by taking the minimum between 0.75 and (time left until unlock) / 6 months.
E.g. if there is 3 months left on your vesting period, the penalty is min(0.75, 3/6) = 0.50. Hence the penalty is 50% of unvested $ARGO rewards farmed. During the entirety of Community Farming, since the ARGO vesting has yet to begin, users who withdraw CRO from the community farming vault will forfeit 75% of $ARGO tokens farmed.
Argo Protocol is currently undergoing an audit and will have all core smart contracts audited prior to any feature launch. That means all smart contracts relating to Argo Community Farming will be fully audited prior to Community Farming.
Argo Community Farming is non-custodial and you will retain full custody of all your CRO staked within Argo’s Community Farming vaults. A proportion of your funds will be immediately bridged to the Crypto.org Chain and staked.
Yes, you will be able to withdraw your staked CRO at any point in time.
However, during the community farming event, all CRO withdrawn will go through the 28 days unstaking period. Upon any withdrawal initiated, Argo will unstake your CRO from Crypto.org Chain and you will be able to claim it back after 28 days.
We highly encourage all users who have staked CRO during the Community Farming Event to continue staking with Argo as withdrawals during Community Farming would result in forfeiting a certain amount of farmed $ARGO and have to undergo the 28 days unbonding period.
We are building a family here at Argo. Join our socials, keep up with our latest news, and chat with us, we look forward to answering any doubts and questions.
Be an #Argonaut today.
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