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HomeCOINSWhat Is RagnarokDAO (RGK)? Complete Guide Review About RagnarokDAO.

What Is RagnarokDAO (RGK)? Complete Guide Review About RagnarokDAO.

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

Coin BasicInformation
Coin NameRagnarokDAO
Short NameRGK
Circulating SupplyN/A
Total Supply92,316
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

$RGK Token

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.

Launch information

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

  • 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.

Roadmap

What Is RagnarokDAO (RGK)? Complete Guide Review About RagnarokDAO.
Nile
Nile
Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .