What Is RagnarokDAO (RGK)?
RagnarokDAO is a decentralized reserve currency on the Avalanche network. It’s a fork of Olympus DAO. Ragnarok will use the familiar “bond” and “stake” system, in order to raise capital and grow token supply. Treasury investments strategies will provide higher support for $RGK token. They will propose a vote on our discord. If the vote is accepted by the majority, a limit time will be added to the contract after staking during which it will not be possible to withdraw your sRGK. They are currently thinking of a duration of 08h01, this forcing people to stack for more than one rebase. This will prevent buying and reselling speculation just before each EPOCH.
RagnarokDAO Storage Key Points
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
50,000 $RGK were sold in a private presale for our most invested members (“OG” rank in Discord), at a price of 4 $MIM per $RGK, with a maximum allocation of 1000 $MIM per person. Thank you to all the participants for their trust. In accordance to our Discord community vote, a public presale has been organized and 171224.98$ has been gathered additionally. 37,500 $RGK tokens will be paired with an initial liquidity of 187,500 $MIM on TraderJoe. RagnarokDAO chose TraderJoe because it is the most used decentralized exchange on Avalanche.
They because the maximum amount of funds raised through whitelisted users was $200,000, every whitelisted LBE participant was guaranteed to be able to contribute up to their $1,000 limit. We selected 200 whitelisted users who had access to the LBE for a 48-hour period. After the 48-hour whitelisted LBE will be closed, the LBE will open access to the public to fill in the remainder of the $200,000. The price will then be $4.5/RGK, which corresponds to a gain of 12.5% for those who participated in the private presale.
RagnarokDAO chose to launch on Avalanche Network :
- Transactions on avalanche chain are fast.
- It is really easy to bridge some funds on avalanche network.
- The fees are low and cost generally less than 1$ / transaction.
Liquidity bootstrap event :
- RagnarokDAO Liquidity Bootstrap Event (LBE) will start on Saturday the 11th of December 2021 at 18:00 UTC+1 and end on Monday the 13th of December 2021 at 18:00 UTC+1.
- Your goal is to raise $200,000 at a valuation of $4 per $RGK. The LBE was performed using the $MIM stablecoin on Avalanche.
From the 219,000 MIM they will raise in the Liquidity Bootstrap Event:
- 187,500 MIM will be paired with 37,500 RGK in the liquidity pool on TraderJoe, at a rate of 1 $RGK = 5 $MIM. This liquidity is saved in your treasury.
- 21,500 MIM will be transferred to the treasury, securing the value of the protocol.
- 10,000 MIM will be allocated to your development team.
Release of whitelist fund
RagnarokDAO have noticed that on many occasions a whitelist can harm a project. The tokens will be released over time as if it were a bond. During 4 days the tokens will be released gradually. This will avoid a massive sale a few moments after the launch or at a specific time when the funds are released each day for example.
- Staking is the primary value accrual strategy of Ragnarok. Stakers stake their RGK on your website to earn rebase rewards.
- Staking is a passive, long-term strategy. With each rebase your number of tokens increases according to the APRs defined by the protocol. Interest is compounded automatically.
- When you stake, you lock RGK and receive an equal amount of sRGK. Your sRGK balance rebases up automatically at the end of every epoch.
- When you unstake, you burn sRGK and receive an equal amount of RGK. Unstaking means the user will forfeit the upcoming rebase reward.