The $GLOVE Fair Launch
It’s been a long time coming, but we’re finally ready!
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We’ve made no secret about eventually launching our fungible token; the $GLOVE token. We’ve always said that we do not want to release it far before it could have real utility in the game, in which case its sole purpose would just be speculation while everyone waits years before we launch a game.
You’ve all seen how far the game is and most of you have already played it in our Fight Nights. That’s why we’re confident we can launch the token now. Besides, the final feature of the Token Fights & Staking is pretty intensive and ABSOLUTELY can not have flaws or exploits, so we need the funding for it.
$GLOVE Utility
The $GLOVE token is what drives the entire Stumble upon Rumble economy. It’s used for Token Fights, Token Fight Staking, Seasonal Rewards, Cosmetic Purchases, in-game Ads, Live Events, and more!
We have designed our entire economy to be based on real incentives. Either from other players or from external companies who are willing to pay for the players’ attention through ads. In addition to that, every single piece of token utility is connected to Token Burns. These things together create a deflationary economy that keeps on getting more deflationary the more players we get into our game. This is the exact opposite of the traditional Play-to-Earn design, where inflation was the standard and more players caused more inflation
Check out this thread for more visual examples:
https://twitter.com/StumbleURumble/status/1669035084668624910
Why Fair Launch
We believe the best way to launch the token is through a Fair Launch model. We’ve been building this for a long-time and are close to launching the product already, meaning it’s better to get these tokens in the hands of real users and community members who will actively participate in the economy through Token Fights and Staking.
Because we are so close to launch it also makes more sense to have a higher initial circulating supply. A lot of IDO projects launch with less than 10% of total supply because many don’t have a product yet and are mainly used to speculate. For us though, we want the token to be used soon so having all of our users restricted to only a few % of the total supply would cause issues.
Fair Launch Mechanics
In total, we will be setting 25% of the total supply available. All of these tokens will be fully unlocked on TGE. The price you pay? Well, that depends on all of you! The more capital is committed, the higher the total FDV and thus the higher the price paid per token. At $100k raised for 25% of the supply, our FDV would be $400k. At $500k raised, it would be $2 million, etc.
Everyone pays the same price at the end of the sale. The only ones who get something extra, are our early community members and some of our selected partners.
The first two days of the sale will be restricted to the people on that whitelist. Standard they will get a 5% bonus on the tokens they buy, and for those who are committed to the cause and buy $10k worth of $GLOVE, well they get an additional 5% bonus for 10% total.
Why give these people a bonus? Because they are our earliest supporters as well as our closest and most relevant partners. We couldn’t think of anyone better aligned with us to have as an initial holder base. In addition to that, it’s always hardest to be first over the line so we want to give our earliest contributors something extra.
When is the Fair Launch
The Whitelist Early Access round starts on Wednesday the 21st of June at 10 AM EST. This phase lasts for 48 hours until Friday the 23rd of June at 10 AM EST. If you are whitelisted, you need to purchase your tokens in this timeframe. You can still purchase after this time, but you will no longer get bonus tokens.
The Public Access phase happens almost directly after the Early Access phase. It opens on Friday the 23rd of June at noon EST and lasts until Wednesday the 28th of June at noon EST.
How to buy $GLOVE
For starters, the sale and token are on the Arbitrum One network, and purchases are done with Arbitrum-based USDC. This means you will need:
- A wallet that supports Arbitrum (Metamask, etc.)
- A little bit of Eth on the Arbitrum network for gas fees (a dollar or so should be enough)
- USDC tokens on the Arbitrum network equal to the amount you would like to commit to the $GLOVE sale
You then go to our Fair Launch website once we share the link
WE WILL SHARE THE LINK FOR THE SITE ON OUR OFFICIAL TWITTER AND DISCORD. DO NOT CLICK ANY OTHER LINKS. WE WILL NEVER DO A SURPRISE SALE OR PRESSURE YOU WITH ANY KIND OF FAKE URGENCY.
On the site, you connect your wallet. The first 48 hours are for those whitelisted to the Early Access phase. It is important that you connect your wallet that holds the SuR or partner assets, as that’s the wallet that is whitelisted.
The whitelisted communities are:
- SuR Glove NFT holders
- Neo Tokyo NFT holders (S1 or S2) or stakers
- Trident $PSI holders with a balance of 400 or more
- This Thing Of Ours NFT holders or stakers
- Nakamigos NFT holders
- NFA NFT holders
- Pixelmon Generation1 holders
- A Kid Called Beast Holders
- Anime Metaverse Holders
SNAPSHOTS FOR THESE WALLETS HAVE BEEN TAKEN. PURCHASING ONE OF THESE ASSETS NOW WILL NOT GIVE YOU ACCESS.
After the Early Access phase, it does not matter which wallet you connect, as everyone will be able to purchase $GLOVE.
Once your wallet is connected, you can go through our site and read all of the information we have provided. You will also see a big counter that shows the current progress and tells you something about the current valuation. It is important to realize this valuation is not final and will continue to increase until the end of the sale.
If and when you are ready to commit, go to the large commit button. You will be able to enter the amount you would like to commit, and then confirm by clicking the button.
You will first need to accept the terms and conditions of our token sale. Once you’ve accepted this, you will get a pop-up and transaction to give access to spend your USDC. When this transaction is confirmed, you will get another transaction to confirm the purchase.
That’s it! You’ve now bought your $GLOVE. If you want to buy more, you can follow the same steps and do another transaction.
TGE and receiving your $GLOVE
On Wednesday the 28th of June, our Fair Launch sale will close. We will then assess how many tokens every purchaser should get, as tokens are divided pro rata.
We expect TGE to happen on the following Monday, the 3rd of July. An announcement will be made closer to this date to confirm. Before we list the token and open our liquidity pool, we will airdrop everyone their tokens. Our liquidity pool will be locked for at least 3 months, after that we will reassess where our DEX liquidity is locked and either re-lock it or lock it somewhere else.
YOU DO NOT NEED TO CLAIM ANYTHING, THE TOKEN WILL BE AIRDROPPED DIRECTLY. DO NOT TRUST ANY LINKS TELLING YOU TO CLAIM YOUR TOKENS. SECOND, DO NOT AUTOMATICALLY TRUST ANY GLOVE TOKENS BEING AIRDROPPED TO YOU, THERE MIGHT BE SCAMMERS AIRDROPPING FAKE GLOVE TOKENS. WE WILL POST THE OFFICIAL TOKEN ADDRESS BEFORE TGE, ONLY INTERACT WITH THAT TOKEN.
Final Words by the Team
We want to thank all of our Rumblers who stuck around since the start. We opened up the community in late 2021 and made the tough call not to launch anything in that tail period of the bull market, as it would be too far away from a full product launch and harm our long-term vision.
What followed was, and still is a tough bear market. We had to be creative and watch our costs so we could continue building, and that’s what we did. We continued to be transparent to our community, delivered updates to the game, integrated more partners, etc. Meanwhile, we saw other projects who had raised millions in the bull pretty much bleed out while they stopped working on the game. In that regard, the bear market has shown us all who was here for a quick buck and who was here for the long-term vision. In the end, it has brought us here, as one of the few crypto games with a nearly finished product.
We’re looking forward to the next phase of the project, together with you!
