SVY Token Launch 8/8/23!

TLDR;

• 72-hour Fjord Foundry LGE starting August 8th at 12pm EST on Arbitrum
• 500,000 SVY (5% of total supply) reserved for LBP paired with 250 ETH
• No minimums, no lock ups

On August 8th at 12pm EST, Savvy DeFi will launch its SVY token through a liquidity bootstrapping pool (LBP) on Fjord Foundry. The LBP will last through August 11th.

What is the SVY Token?

SVY is the utility token for the Savvy protocol. SVY is used for DAO membership, governance, and incentivizing liquidity providers. You can learn more about SVY and Savvy’s tokenomics here. https://savvydefi.medium.com/savvy-defi-tokenomics-26c3f34b02fe

What is an LBP?

A liquidity bootstrapping pool is a fair, transparent way to distribute tokens and conduct token price discovery. Two tokens are paired together (in this case SVY and ETH). At the start of the LBP, there will be an initial token weight ratio of 90% SVY: 10% ETH, making the cost to acquire SVY relatively high. The SVY price will drop as the ratio auto-balances based on a pre-configured price decay curve that can be resisted by buying pressure from LBP participants.

500,000 SVY (5% of total SVY supply) will be paired with 250 ETH in a Balancer-style liquidity pool on Arbitrum. Most other LBPs are substantially smaller (usually only 25–50 ETH ). The SVY LBP will make the SVY token highly liquid and ready for the incoming trading demand. Other LBPs often have a starting weight of 99:1, and we’ve elected to start at 90:10 to flatten the curve for earlier price discovery. We’ve simulated our LBP mechanics with a novel machine learning model, which you can find here if you’re curious: https://research.svy.gg/lbp.html

Ultimately, the price curve from the LBP incentivizes a more equal distribution of SVY tokens. Anyone can permissionlessly buy into or sell out of the LBP anytime without minimum purchasing requirements.

If you want to learn more, you can check out Fjord Foundry’s LBP documentation here: https://help.fjordfoundry.com/fjord-foundry-docs/for-lbp-participants/faqs-lbp-participants

Why should you care?

The LBP is an opportunity to acquire SVY tokens at the very beginning of the protocol. The Savvy protocol has already launched successfully with more demand than deposit availability. The SVY token will play a vital role in advancing the protocol into the future.

On Fjord Foundry

Savvy is the first DeFi project curated by Fjord Foundry. Fjord Foundry is a proven project that has deployed LBPs on several chains including Arbitrum, Ethereum, BNB, OP, Polygon, and more. They’ve bootstrapped over 130 communities and processed $1.4 billion.

How to Participate

Head to svy.gg/fjord to get participate now!

Follow Savvy on Twitter @savvydefi and on Discord https://discord.gg/uYd6N3NQ so you don’t miss out on any future updates and announcements, and check out our app app.savydefi.io