šŸ”„Forge FinancešŸ”„ - Successfully Launchedāœ…

ForgeFinance
5 min readDec 18, 2020

A non-dilutive, passive reward distribution store of value.

How it all came together.

Forge Finance has combined the passive yield generation concept of RFI which distributes rewards to all holders, as well as a secondary deflationary layer which permanently reduces the total supply. These two combined factors are what make FRG3 both safe and profitable.

Forge Finance held our pre-sale and launch on the 14th of December 2020.

With an initial supply of 100,000 FRG3, 50,000 FRG3 was made available for participants in our white-listed presale. The eligibility of the pre-sale was determined via google forms on a first come first serve basis.

The initial hard-cap was set to 55 ETH with 50,000 FRG3 available for sale.
To ensure a level playing field for our pre-sale participants, the min/max amounts for the presale was set to 1 ETH per wallet.

47 ETH was filled for the presale and all unsold tokens weā€™re sent to the burn address. In total 13,575 FRG3 was permanently burned.

42 ETH and 36,425 FRGE tokens was added as liquidity on UNISWAP which has been locked via Unicrypt until 31/03/2022.
The team token allocation of 2,666 FRG3 has been locked via team.finance, with the remaining 2,666 being used for marketing, community rewards and development.
We also added a secondary protection layer to our launch by limiting buy orders to 2,500 FRG3 to prevent bots from buying up a large percentage of the supply.

So how did we do?

FRG3 was initially listed at 850 FRG3 per ETH. In our first 24 hours, we reached a total daily volume of $389,000 and have reached over 290 wallets that hold FRG3 and with us reaching a max price of $2.44 shortly after launch.
Our community has also grown quite exponentially with an influx of new members joining our Telegram channel which has gone from 150 members to 500+ members in the space of a few days.

I would like to take this opportunity to thank the Forge Finance community. Without you guys, all this really would not have been possible.

Thank you all for joining us on this journey. Itā€™s definitely not over yet šŸ™.

Whatā€™s Next for Forge Finance?

Youā€™ve all patiently waited for the answer, so here it is šŸŽ‰šŸŽ‰

As you may or may not have noticed, by adding liquidity from the developer wallet, the dev is the one getting the fees.

Does the dev need the fees? NO
Does the dev want the fees? NO

Therefore we will be implementing a buyback and burn platform.

Hereā€™s how it works:

FRG3 will be available to buy OTC (over the counter) from us at 90% of market price (e.g if the market price of 1 FRG3 token is $1, you will have the option to buy it for $0.90 OTC; currently there are 279 FRG3 tokens available for purchase).
With the ETH raised, we will then be buying back FRG3 tokens via UNISWAP which will then be sent to the burn address.
This will both reward the current holders with FRG3 tokens and will add a further deflationary aspect to our token, which will translate to a more sustained and organic healthy upward price movement.

Program will commence at 12pm UTC time on the 21st of December.
The first buyback and burn phase is scheduled to take place at 12pm UTC time on the 23rd of December, with each following burn happening weekly.

Feel free to ask any questions related to this topic by dropping by in our Telegram channel.

At this stage, the OTC sales will be conducted manually.

This leads us to our first development phase.

As mentioned above, the OTC sales will initially be conducted manually, which is a very tedious process. Therefore we will be adding a dashboard to our website to automate the entire process.
Once fully functional, you will be able to purchase the rewards from the dashboard directly; then on pre-determined dates (this will be announced in our Telegram channel), buy orders will be placed to purchase FRG3 from UNISWAP, which will then be automatically sent to the burn address. This will ensure that there is no middle-man between the transaction and it is done all via smart contract which translates to an added security layer for our token.

The date for the automated dashboard is currently undetermined, this will be announced in our Telegram channel.

But wait, thereā€™s more!

Currently, the Forge Finance logo is quite generic.
Therefore to get our community more involved with us in the project, we will be holding a logo design competition with the winner receiving 0.2 ETH as a reward. Five logos will be picked by the Dev/Team and Admins as finalists and then we will allow our community to vote on the final winner.
We will also be holding a banner design competition where the winner will receive 0.3 ETH as a reward. This winner will be decided by the Dev/Team. So put on your creativity hats and show us your best designs..

Entries for both the logo design competition and the banner design will close at 5pm UTC time on the 11th of January 2021. You may submit your designs via Telegram or Twitter. On Twitter use the hashtag #FRG3LogoComp or #FRG3BannerComp and donā€™t forget to tag me in the post.

Finally, we have made agreements with some well known promoters and influencers to help promote FRG3 over the next month as we continue to grow our project and finalize the first phase of the development phase.
Keep your eyes peeled for these promoā€™s and donā€™t forget to tell your friends about us!

If you would like to learn more about us, check us out at the links below šŸ™

Telegram
Website
What is Forge Finance
Twitter

Disclaimer

FRG3 is an experimental token. Investing into such a token is a high-risk activity aimed towards experienced traders familiar with blockchain technology and cryptocurrency trading. The FRG3 smart contract has been extensively tested, however upon deployment to the main network, errors and/or malfunctions, unforeseen to the development team, may arise. Hence, investors are aware of the absence of any legal action against the development team in case of the FRG3 token losing part or even totality of its value.

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