SURGE on Base launch window this week, tiers step up toward $1. Last chance to buy SURGE at the 20% discount is now
Good morning Lions! It has been an incredible weekend for LeoStrategy. We've seen the SURGE presale nearly double in commitments just in the past few days. 30% of all SURGE In the presale is now sold out and the remaining 70% is dwindling faster and faster with each passing hour. Every time you check the order book on Hive-Engine, there is less SURGE available on the market.
If you caught our previous announcement, we talked about the LSTR and SURGE cross-chain pairs we are launching on the Base blockchain. In this post, we'll answer some questions we've seen related to the upcoming launch and also give you critical details about SURGE's presale that you NEED TO KNOW if you are a SURGE holder and/or interested in buying more SURGE before the presale is gone forever.
Why Base?
A few have asked "Why Base?" - out of all the blockchains out there, we chose Base for a number of reasons:
- Super fast transactions: the avg blocktime on Base is just 2s
- Massive Userbase (and Growing): there are over 200M accounts
- Tons of Capital: Over $4.82B in DeFi TVL (and growing rapidly)
- Massive Volume: Over $1B per day in trading volume on DEXes only (not including CEX volumes)
- Fiat Onramp/Offramp: A critical part of LeoStrategy's mission is to attract institutional capital to LEO. We believe LEO is a commodity asset of the future. The scarcity of Bitcoin but the business of Binance, X and OpenAI combined. We intend to be the Microstrategy of the LEO commodity which means attracting instutional investors and capital to the LEO economy through LSTR and LSTR-derivatives
Liquidity Pools
We will be establishing 4 Liquidity Pools on Base:
- LSTR/WETH
- LSTR/USDC
- SURGE/WETH
- SURGE/USDC
Combined with the current liquidity pools/venues on Hive-Engine:
- LSTR/LEO (Currently $118k in Liquidity)
- LSTR/HIVE (Order Book)
- SURGE/LEO (Launching When the Presale Ends)
- SURGE/HIVE (Order Book When the Presale Ends)
This liquidity pool design encourages volatility and introduces Arbitrage Triangles which can be leveraged to generate profits for the LeoStrategy fund (via our Cross-Chain Market Maker and Hive-Engine Market Maker).
These market makers harvest volatility and turn them into daily profits. We use the daily profits to purchase LEO and expand our balance sheet which in turn expands the market cap of LEO, LSTR and SURGE. These expanding market caps lead to more scale for our arb triangles which leads to more volatility to harvest and the cycle repeats.
When LSTR and SURGE are launched on Base, the LSTR pools will be established right away. The SURGE pools will be established after the presale is concluded. The presale itself will be priced as SURGE/USDC.
The SURGE Presale
The SURGE presale is accelerating quickly. Some are predicting it will be sold out entirely in the next 3-7 days. With 30% of all SURGE in the presale already sold out, this is looking more and more likely with each passing day.
Right now, SURGE's presale is exclusively on Hive-Engine. This gives lions the first shot at buying SURGE at the 20% discount that it is currently offered at. We love seeing Lions eat first. So now is your chance to SURGE before it's too late.
The SURGE presale will be migrated to Base via a Launch Window process and we will use a Dutch stair auction to sell out any remaining SURGE.
This dutch stair auction will have 3 pricing tiers. We are are also using a Launch Window as opposed to a specific Launch Date. This Launch Window will gamify the SURGE presale. Since nobody knows exactly when the SURGE migration happens, the urgency to get SURGE while you still can at this price is very real.
The following are some facts and rules of this gamified SURGE presale and dutch stair auction:
- Over 30%+ of SURGE is already sold out
- Remaining SURGE in the presale will be migrated to Base
- The launch window will dictate when the migration happens. Nobody knows the exact time and date
- If SURGE is fully sold out before this launch happens, then the SURGE:USDC and SURGE:WETH liquidity pools will simply go live the same day as the sell-out event and be seeded with the total $50k liquidity figure at a price of $1 per SURGE
Rules:
- Launch Window: SURGE will go live on Base between September 10th and September 17th. On this randomized date/time, SURGE's presale will be migrated to the Base blockchain and re-priced
- Re-Pricing of SURGE: SURGE will use a dutch stair auction to sell out the remaining SURGE on Base. The auction starts at $0.85. It will then climb with 3 tiers: Tier 1). 1/3rd of the remaining SURGE presale priced at $0.85. Tier 2). 1/3rd of the SURGE presale priced at $0.875. Tier 3). 1/3rd of the SURGE presale priced at $0.90
- $50k Liquidity Pool Launch: $50k in total liquidity will be provided across 3 SURGE pools (SURGE:LEO on HE, SURGE:USDC on Base, SURGE:WETH on Base). These 3 pools will price SURGE at exactly $1 per SURGE on the day the presale is concluded
- Transparency: we are big on transparency. All contracts, asset lists, etc. will be published the exact moment that the launch on Base happens
- Bridge: you will be able to bridge between Base and Hive-Engine on the day of launch. If you HODL your SURGE on HE, you get paid either HBD or LSTR (HE) every Monday at 0:00 UTC. If you HODL your SURGE on Base, you get paid either USDC or LSTR (Base) every Monday at 0:00 UTC
Base Dividends
The SURGE dividends will be paid on Base exactly as they are paid on Hive-Engine. On Base, you will earn USDC instead of HBD. You can still opt to earn LSTR (and if you choose this option, USDC is swapped to LSTR and paid to you. Allowing for seamless DCA/compounding into LSTR).
For example, if you have 10,000 SURGE on Base, you will receive:
- USDC -> about $28.85 per week as USDC (Base)
- LSTR -> about $28.85 per week as LSTR (Base)
SURGE Dividends So Far
We saw a few of you found out that if you use the surge.yield AI manager, you can see two values of dividends:
- The dividends at the time of payout
- The dividends value today
Obviously, if you're getting paid HBD, these two values will be the same.
If you are getting your dividends paid as LSTR, you are actually seeing a different value for these two parameters. The reason is that the total USD value of dividends are actually showing the value of dividends at the time of payout. If you are compounding LSTR from your dividends and LSTR is rising steadily in price (as it has since inception), then you are actually earning MORE in USD value from your dividends.
For example, Khal is earning an effective yield of ~31% when you factor in this LSTR autocompounding.
SURGE has a $1 floor price (downside protection) and pays a 15% stated yield. However, since the presale offers SURGE at a discount to this floor price, your effective yield is ~19%.
If you get paid in LSTR, your effective yield since SURGE dividends started (3 weeks ago) is ~31%.
Buy the SURGE Presale Before It's Gone!
Tier 0 is exclusively on Hive-Engine. When Tier 0 closes, Tier 1 opens on Base. SURGE is re-priced higher and higher until it is sold out. Then the $50k LPs launch at $1 per SURGE on Base & Hive-Engine.
SURGE is selling out double digits every single day now. This pace is accelerating. Some are saying that SURGE will sell out in a few days. Our team has now introduced the Launch Window which means that whenever the randomized date/time occurs, SURGE's presale will be moved to Base and priced higher via Dutch Stair Auction.
Your last chance to buy SURGE at the current presale discount + on Hive-Engine has arrived. Plan accordingly and grab some popcorn.
- Buy SURGE's Presale at a 20% Discount on TribalDEX: https://tribaldex.com/trade/SURGE
- Buy SURGE's Presale at a 20% Discount on Beeswap: https://beeswap.dcity.io/tokens/SURGE