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The most gratifying aspect of the Avalanche community, without a doubt, is the sense of camaraderie shared by the teams currently building out what will be remembered as the ecosystem’s earliest days. This is a special moment in time for the people and users here now and an opportunity we suspect many of us will be forever grateful for. There are some amazing teams laying the foundation for what’s to come and Avalaunch considers itself privileged to watch it all come together. While impossible to succinctly characterize, this is the lifeblood of our project. Everything we will ever do is designed to strengthen and support this intangible, yet persistent force.

Right now, the resulting landscape is relatively easy to traverse. For the most part, all of the teams are known quantities and many of them even communicate regularly. However, we suspect that this will not be the case forever. There’s a unique vibration that links together the current application ecosystem, and as we see Avalanche grow, we think it’s important to preserve it as best we can.

This is one of the many reasons we are happy to be joining the Yield Yak Board of Friends. There have been few more committed to collectively driving Avalanche DeFi forward than the Yield Yak team and their expertise and guidance is something many users have already benefited from, likely without even knowing it. Even in a short amount of time, our work with the Yak team and community has been rewarding and amplified our own efforts. Both Avalaunch and Yield Yak possess a shared vision for an Avalanche ecosystem befitting of the groundbreaking technology that underpins it, and the Board of Friends is simply one mechanism to drive us all there faster.

The Board of Friends

The inclusion in the Board of Friends will be formalized by two working criteria:

1. Avalaunch will be appointed as a multi-sig signer for the Yield Yak platform, informing important product and strategy decisions that will help shape the project via governance over the coming months and years. This is a responsibility the Avalaunch team takes quite seriously and it’s an honor to play even a small role in the future of this promising project.
2. Avalaunch will leverage the experience and expertise of the Yield Yak team, building upon the good will already extended by the team to many within the ecosystem. We have been consistently impressed with the generosity displayed by the Yak team and are confident that any new project entering the ecosystem will benefit somehow from their technical guidance.

In addition to the above, Avalaunch will receive 0.5% of the total Yield Yak supply.

Looking Ahead

As we approach the launch of our first product, it’s difficult to not look back and reflect on where we came from. Without even being live, Avalaunch has already very much been molded by the feedback of the early Avalanche community, and in some ways, this partnership codifies the spirit of collaboration that’s guided us since day one. We very much look forward to finding out what, or who, inspires us next, and the new ways which we will undoubtedly discover to service the community more completely.

About Yield Yak

Yield Yak is an easy-to-use tool to earn more yield from DeFi farming on the Avalanche network.

Website | Twitter | Telegram | Medium | Docs

After announcing last week that we had allocated the first 1 million XAVA for distribution to our early community through upcoming rewards, we are pleased to finally announce the details of our first program: The Avalaunch Farm.

The farm program, and the reward programs to come, are very much in-line with the Avalaunch ethos that is baked right into the platform. That is, our active users should be rewarded, and smaller players should be provided a means to grow larger over time. Our reward programs mirror this philosophy and act as a stepping stone toward this larger vision. When the allocation staking contracts go live, our reward programs won’t just stop, but will coalesce with the broader platform, to create a dynamic system that rewards the right users at the right time. These contracts are the first piece of the puzzle and you should expect the full picture to come into focus over time.

The Avalaunch Farm, and consequently XAVA seeping out to the early and involved, represent the very first signs of life for our platform — the rumblings of new system designed to challenge our current understanding of launchpads and beyond. In many ways, Avalaunch is an ongoing experiment dedicated to homing in on a sustainable, more resilient community-driven fundraising framework. The XAVA token is the monetary charge that runs through the circuitry of the system, and this early stage of its distribution is an incredibly exciting milestone.

The Avalaunch Farm

Our farming and rewards will go live tomorrow, 5/29/2021, at 12:00 p.m. (PST).

Two pools will be available, and users will be able to stake both their Pangolin XAVA-AVAX LP tokens and/or XAVA tokens, depending on their preference.

The URL is: farm.avalaunch.app (not live until tomorrow)

The website will go live a few hours prior to rewards beginning, and you are welcome to move tokens there, but they will not receive rewards until 12:00 p.m. (PST).

These two pools will be rewarded at different rates, with the LP token pool receiving a higher rate of rewards due to the cost of securing a liquidity position and the risk of impermanence loss. For a more simple, risk-free option, we suggest participating in our XAVA single-sided staking pool, where you can stake just XAVA to earn more XAVA.

Farm Rewards Details

• Rewards Start Time: 5/29/2021 @ 12:00 p.m. (PST)
• Rewards End Time: TBD (No Set End Date)
• Total XAVA Tokens Distributed Per Day: 7,513

Pool Reward Split

• XAVA (Single-Side): 33.33%
• XAVA-AVAX LP: 66.67%

We designed the token emission to be as attractive as possible to early participants, without also being dilutive to current and future holders.

It’s important to note that these rates are subject to change over time as we are able to observe what kind of user activity the farm experiences. These changes will always be communicated publicly and with as much notice as possible.

As always, thank you so much for being a part of our early community and supporting the vision for a more equitable and enjoyable fundraising space. It means the world to us. We know everyone is anxious to learn more about the platform and we have some details coming very soon!

XAVA Farming & Single-Side Staking to Begin Saturday, May 29, 2021.

Our full update can be found here, but we did want to take this opportunity to announce that XAVA farming and single-sided staking will begin next week. We are excited to get more XAVA tokens out into the hands of the community and we don’t think our farming program will disappoint!

One-Sided Staking

XAVA is a token with earning power — you stake XAVA and earn XAVA, which has market value and powers sale allocations. This is a risk-free way to earn without having to worry about impermanent loss. If you currently hold the XAVA token, there aren’t many good reasons not to jump in! The single-sided staking effectively allows users to grow their holdings and power-up their future allocations as we lead up to our first sale.

XAVA Farming

Incentivized rewards are critical to bootstrap liquidity, engage and attract contributors to the platform. With a vibrant and growing community, Avalaunch wants to provide supporters the opportunity to earn through as many streams as possible. As Avalanche comes to the fore, decentralized exchanges like Pangolin offer a great opportunity to interact with the network and earn XAVA along with LP fees.

A comment on staking and farming competitiveness:

We chose our earliest supporters carefully and this will always prove to be an advantage.

Though we can not offer technical assurance, we can say with confidence that the majority of these supporters will not be staking or farming, thereby increasing the community participation.

We invite you to look and see how the numbers bear out once we go live!

Our commitment to the Avalanche community is to always try and take the next right step. To listen, with open ears, to the feedback about our project and how we can best serve the community. While it might not always be possible, as there are many moving parts behind the scenes, we resolve to continue to mold Avalaunch into the image of the people that use it wherever possible. This isn’t for just us, it is for you, too. Yes, this is an independent project and we have our own vision for what this should be, but that vision involves always seeking the overlap between you and us, and it’s something we won’t ever lose sight of.

Platform Pillars

Large players should not be able to dominate the sales, no matter who they are. This needs to be solved at the product level, for it to be truly impactful. When someone accumulates large amounts of XAVA on the open market, they should not have unfair advantages on the platform. This is something we have been building for.

The Avalaunch platform will feature a maximum allocation for each sale, in conjunction with a sybil resistance mechanism (in this case, account verification) to prevent any one single party from gaining large shares of the total amount available. In other words, this platform is designed to be whale-proof. In addition to these safeguards, there are planned mechanics to level the playing field in-between sales, and redistribute wealth back toward smaller players. There is likely nothing else like it in the space. We are engineering an entirely new type of launchpad from the ground up, blending some of the most potent elements of DeFi, with an ethos of fair and broad.

This is a complex product, and the specification has evolved rapidly. We are not only keeping pace with current market trends, but attempting to innovate beyond them. This means that it has been challenging to release anything but fragmented specifics, as we don’t want to pull the curtains back on the big picture too soon.

That being said, the full launchpad overview will be coming very soon, and we can’t wait to share some of what we’ve been working on.

Key Takeaways:

• A maximum allocation for each sale.
• Account verification (KYC) to prevent multiple accounts or bots.
• Planned mechanics in place to reward smaller players.
• Vested tokens cannot be staked.

Incentives and Redistribution

Farming

As we begin implementing the user interface and finalize backend development, the mechanics on how incentivized rewards programs function is critical. There are numerous considerations and chief among them is the distribution of tokens into the hands of active Avalaunch users as well as additional plans to increase the visibility and utility of the XAVA token.

Incentivized liquidity pools are an excellent first step.

Our next unlock involves ecosystem tokens which is 6.4mm XAVA. This is by design and assigning tokens to bootstrap liquidity serves multiple purposes — to offer deeper support, engage the community and get users earning XAVA.

One-Sided Staking

XAVA is a token with earning power — you stake XAVA and earn XAVA, which has market value and powers sales allocations. Staking also serves to mobilize tokens and signal support for given projects. It is innate to our tokenomics and as the platform matures, it is yet another avenue through which the ecosystem tokens are dispensed.

As we move closer to Avalaunch sales, this is integral to our analytics and distribution.

Extended Vesting

While the Avalaunch platform is resilient against large holders dominating the system, there are some extra measures we’d like to take to ensure that community is at the center of the sales. The sales we host are for the future community of the projects launching on Avalaunch platform — plain and simple.

As we examined the ongoing distribution of the XAVA tokens, it became apparent that in order to optimize our offering, holistically, some additional measures needed to be taken. We will of course continue to iterate on this and course correct as needed.

To detail this information and put a clear focus on the re-weighting of the ecosystem and what it means for XAVA holders.

Effective immediately:

1. Team and advisory tokens (19% of the total supply) are prohibited from participating in sales or rewards programs.*

2. All seed tokens (14% of the total supply) will be vested for an additional six months.

3. To begin incentivizing the community, we will dedicate 1 million XAVA (a current market value of ~2mm USD) to our upcoming series of rewards programs.

*Once sold in the open market, these tokens will realize full utility.

We’d personally like to thank the seed investors and our advisors for being so flexible and willing to do whatever best serves the project. As we move forward, we are considering publishing transparency reports to illustrate how our distribution model is coming along and to demonstrate the efficacy through the increased participation of the publicly staked tokens.

Key Takeaways:

• Team & Advisory tokens are prohibited from sale participation and rewards
• All vested tokens are ineligible for sales and rewards
• Seed vesting has been extended for 6 months
• Ecosystem rewards to begin next week
• Single-sided Staking — Stake XAVA to earn XAVA
• Incentivized liquidity pools (farming)

Supply and Unlocks

Currently, 76.86% of tokens eligible for rewards and sale participation are publicly owned. As unlocks continue and tokens are claimed, we will monitor and apprise in order to ensure that all parties are fairly and equitably represented.

Potential Circulating supply: 10.8m*

*On Coingecko, our API shows the current circulating supply. Tokens residing in the vesting contracts are considered locked until claimed hence the word “potential.”

At the time of this writing, there are 6.7m XAVA in circulation. To work with this dynamic figure before moving to the potential amount, here is the distribution as of today:

• 5.15m tokens from initial liquidity and the sale airdrop
• 1.55m tokens claimed from seed and private round distribution

Again, 76.86% of XAVA are publicly held while 23.14% come from seed and private round distributions. We expect this gap to close, although not entirely, as we always represented to our supporters that Avalaunch is a long-term hold. We encouraged them to “set and forget” their contributions and reiterated this point upon launch. We anticipate that any number of tokens will remain dormant for some time. Nonetheless, to look ahead and consider a fully claimed environment:

• 4.8m released from seed and private rounds
• 6m provided for liquidity and first distribution of public airdrop

This represents a more even split where 55.5% would be publicly held and 44.5% from pre-sale distributions. As we eye our first sale in June, we will continue to track this number.

Unlocks

The next unlock is from Ecosystem totaling 6.4M XAVA. This was done by design as these tokens are earmarked entirely for expansion of the XAVA offering and will be seeded strategically. These are allocated to anything that helps our users and supporters — from exchange listings to incentivized rewards programs to community airdrops, etc. This will be instrumental in the distribution of sale weight within our ecosystem.

As the ecosystem supply is released, a notable shift in earning power ensues. Further consider that ecosystem tokens are able to be earned by supporting our initiative. By disqualifying these tokens, the earning power of XAVA increases appreciably.

Stated earlier, ecosystem rewards make up a full 32% of the total supply and are earmarked for those that participate and support XAVA and the greater Avalanche ecosystem — staking, farming, incentives, rewards, contests, exchange liquidity, delegators, validators etc. Essentially, initiatives that increase the distribution and visibility of the XAVA token. Thus far, we have committed 2% of the supply to validators and delegators of Avalanche. It is significant and naturally, a fair amount of these tokens will be earned via liquidity provisions and any incentivized programs we may offer.

The equity increase given to active participants creates a supply that rewards more loyal users and is bolstered by the fact that these tokens are rewarded/earned but not purchased. In addition to allocations, users who interact with XAVA by staking and/or incentive programs can effectively lower the adjusted cost basis of their token purchases.

Key Takeaways:

• Currently, allocations and rewards are heavily weighted in favor of the community (76.86%). This, combined with maximum allocations for each sale, should ensure fair participation.
• We expect this gap to close as tokens are claimed
• Ecosystem (6.4m unlocking May 28th) to jump-start rewards/incentives

On Our Pangolin Listing

After our listing on Pangolin saw unprecedented demand, there was, understandably, some frustration around bot activity that took place in the first minutes of the sale. While extremely frustrating, this is also, unfortunately, extremely common.

Ironically enough, this is a big part of why Avaluanch is here in the first place. To create a better experience for teams and communities so they can focus on what matters: building their product. Projects shouldn’t have to navigate the endless maze of constantly-evolving threats simply to get their token into the hands of the community. It’s a severe distraction at best and many teams simply don’t have the resources to manage it successfully at what is often the earliest stages of their evolution. Having now been through this ourselves, we believe our experience in this area provides a unique motivation to carve a different path.

When it comes to a decentralized application like Pangolin and bots specifically, one of the developers working on Pangolin summarizes his thoughts on the issue in this thread:

Should we ban bots on Pangolin?

After the XAVA token sale, community members have had enough of bots pushing out human traders. Many have suggested we add a captcha to our website and only allow real people to take part.

Here's why that won't work.

— Connor Daly 🐈(4x)🔺 (@das_connor) May 15, 2021

In summary, most “solutions” to the problems present an entirely new set of problems, so they aren’t really solutions at all. Additionally, if you value the decentralized principles Pangolin is built on, you really wouldn’t want them to work, anyway. Ultimately, it’s a nuanced discussion that traverses very subjective topics mired in semantics. Rather than circle the drain on this forever, we are going to turn our attention back toward building what we feel is a product better suited for launches. Avalanche desperately needs a launch-specific platform more resilient to bots and whales, and that’s what we intend to deliver.

Vesting Contract Parameter

One last point of transparency is regarding our token vesting contract for seed investors specifically, and an incorrect parameter that was discovered after the contract’s deployment.

The contract address is: 0xB53E0fa6898C97A477F9c05733bdc10B78e10d6A

Our developer mistakenly set that time between vesting portions to 1 minute, (60 seconds) instead of 1 week (604800 seconds). The incorrect parameter was used for testing the contract and was unintentionally left in place.

This resulted in an accelerated vesting schedule, causing the tokens to be fully unlocked by Monday, June 14, 2021 at 00:35:00 GMT+0000.

All seed investors, who contractually bound to the vesting terms have been notified of the issue, and will immediately move their unlocked tokens to a new vesting contract with the correct vesting schedule on June 14, 2021.

Furthermore, the updated vesting schedule will include the extended 6-month lock-up.

The wallets affected are:

0xe90950A1B7Ad930d2dfBb3A4cDFD54669dE06B3e

0x2821E2DEcE4150649096644686baac3A73607f46

0x5e08bf95DcDd45B17963DbB7F9271Bb4a8A49194

0xf019675Ce68fe13089EeA5DABDC743c1a1155C0e

0x1D893D40d13254F86becC73ba3f15cA21e9F1A76

0x7B17a951B040644318AD2FFF3F47C9348fF854Cd

0x3A9103378E96CD9179c5fD226044d1e2936d7A59

0x205ecb4dbEf2eC61D6F1B92c4276Cdd7929F503d

0x99D1d7890bfC58Df34eaCA892dFde98Fa6118c44

0x8233484c7648f59086CeEA05f0A8D6a976CdAa75

0xa97e743fC09861a4AB3b38cB7a8F64BDF24EbeaC

0x6167FF49E5F873a5Aeae485dbc1B6f03d8F82bFC

0x773a1FD0f9D8048B0fd24e234feD69495C0fa15b

0x737dE5e58835A7CEfBE3de73f443c885cD245BCb

0x54b5f900014Ed1B842cDb79672b732A21f134fa8

0xe1bAf2857197C89CF7E2738E90beFe2FbB838Ce7

Wrapping Up

As we move into the next few weeks, we are excited to start introducing some utility to the XAVA token and offering ways to start earning it, allowing for larger allocations in Avalaunch sales. Look out next week for a full platform overview and more details about how the platform works!