Toreus Launches $TORE Token
Toreus sucesfully completed their TGE and Fair Launch last Sunday. Initial liquidity was deployed on Equilibré, the liquidity hub on KAVA EVM, around 15:00 UTC from which the first $TORE came into circulation.
Yesterday the team spent most of their time on post-launch items like adding the $TORE ticker to various tracking websites (Coingecko, DeBank). We’ve also created the necassary code for DefiLlama to start tracking our TVL and this has been merged to DefiLlamas Github. Soon we’ll receive a shoutout from the Official KAVA Twitter, confirming our admission in the KAVA RISE program. 🎉
Our next milestone is tomorrow when the Toreus protocol will enable emissions to start attracting TVL. Around 10:38 UTC (depending on block times), the emissions will start. So, make sure to deposit assets, stake, and lock $TORE before this moment to benefit from the high APR at launch. 💪
If you’re unfamiliair with the Toreus Protocol and/or its tokenomics, we highly recommend going through our docs. There are several graphics that will be helpful in understanding the inner workings of the protocol. Next to this, we’ll be releasing an additional tokenomics article today, trying to compound as much information as we can. (👨🏫always DYOR)
Testnet campaign
We started, little over 1 month ago, with an incentivised testnet campaign through Crew3. A resounding succes, we’ve seen people making guides on YouTube, threads on Twitter and the Testnet RPC that was unavailable for most of the last week due to capacity issues😂.
We’ve received some good feedback from the users. Some of which is already implemented and some will be updated in the coming weeks.
The incentivized part of the testnet campaign was a 300.000 $TORE Airdrop among our contenders. In our docs we detailed how you’d be able to calculate your Airdrop allocation, and yesterday we released a thread on Twitter detailing the criteria to be eligible for the Airdrop, including a draft of the allocations per Discord user. 👇
If you were ineligible, or missed the Testnet Airdrop through the Crew 3 campaign, keep reading, the biggest Airdrop has yet to come👀
Geist Airdrop
Expressing gratitude for those who have gone before us is important for a sense of connection and continuity (…)
Because we are a Geist Fork, we feel a deep sense of gratitude towards their team and investors. We therefore announced, early on, that Geist users would be eligible for the biggest airdrop we will do. Over 700.000 $TORE will be distributed among $GEIST lockers. I’d like to share more details with you around this, and how you can be eligible for this airdrop.
We will create a snapshot of the $GEIST staking contract next week (exp. 26th of April, we’ll announce on Twitter when completed). That means you have 7 days to buy some $GEIST and lock it to be eligible for the 700.000 $TORE Airdrop. Below you’ll find a guide on what to do:
- Buy Geist on Spookyswap (Fantom Opera)
- Go to the Manage page of Geist Finance
- Lock your $GEIST, by entering the amount, pressing Lock and following the dialogue of Approving Spending and Locking the $GEIST.
- You can confirm your $GEIST is locked under ‘GEIST Locks’.
If you do this before April 26nd, you’ll be eligible for the airdrop. Meanwhile your $GEIST will be earning platform revenue in the comming 3 months while also receiving 50% of the $GEIST from people exitting the protocol early.
Airdrop terms
For both Airdrops, the following terms will apply:
- Each airdrop is divided into 4 parts. Each quarter 25% of your total allocation will be claimable, starting Wednesday May 3rd, ending 9 months later.
- Once your airdrop is claimable, you have a period of 2 weeks to claim the airdrop. All unclaimed $TORE will return to the treasury for future promotions.
- Claimed Airdrops will enter the vesting contract, and will therefore act just like $TORE rewards you would receive from depositing or staking $TORE. It means your Airdrop rewards will be vested for 3 months, earning protocol revenue while vesting. If you do not want to wait, you can claim inmediatly, but lose 50% of that claim. This will be payed out to $TORE Lockers.
- The Team will do its best to announce when claim periods for airdrops open through Twitter/Discord.
What’s next?
After the emissions are started and TVL will rise, we will launch our next partnership with AcryptoS! Advanced Crypto Strategies (AcryptoS) will create auto-compounding vaults utilizing the deposit/borrow function that Toreus will offer. You can read more about these vaults over here.
Last but not least, Thank You for those who supported us along the way, OG’s, #kavalry, our partners and community on Twitter and Discord. Without you, this succes of the Fair Launch and the Toreus Protocol wouldn’t be possible. 🤟
(…) yet it is from those who walk beside us that we can gain the strength and courage to remain true to one purpose. And what many today are discovering as they “dig a new-way path” is not a teacher or guru or guide, but a “resonator”, a friend or companion so true to their own reality that they inspire others to be faithful to theirs. Somehow the resonator calls us to our true selves, reminding us and reflecting to us our deepest possibility, asking the difficult questions and encouraging us to take action.
Follow our socials and join our Discord to stay up to date of the latest information:
App: https://toreus.finance/
Docs: https://docs.toreus.finance/
Twitter: https://twitter.com/toreusfinance
Discord: https://discord.gg/bguuZHdcxz
Linktree: https://linktr.ee/toreusfinance
