FAQ
What is Mocossi’s Liquidity Bootstrapping Event (LBE)?
Mocossi is the first project to implement the Liquidity Bootstrapping Event on Minswap Launch Bowl. The event consists of 2 phases: Discovery and Encounter.
Discovery phase (10 days):
Deposit ADA to our liquidity pool on Minswap and receive mcosADA as proof.
If you wish to claim back your ADA, a 25% fee will be charged during the last two days of the event.
Encounter phase:
Claim your mcosADA for MCOS/ADA LP tokens and bonus NFTs.
You can then either join yield farming for triple rewards or withdraw your ADA and MCOS.
When does the LBE start?
*To avoid price manipulation, starting from 14:00 23 Jul (UTC+0) until the end of the event, you will be charged a 25% fee when withdrawing from the liquidity pool.
Where can I provide my ADA?
https://app.minswap.org/launch-bowl/mocossi_lbe
What wallets are supported?
MinWallet (Mobile supported), Nami, Flint, Eternl, Typhon, GeroWallet
What does the 25% fee on the last 2 days of Discovery Phase mean?
A 25% fee will be charged if you swap mcosADA for ADA on the last two days in order to prevent last-minute price manipulation. Consider this example. In exchange for 100 ADA, you received 100 mcosADA on the first day of the event. During the last two days, you can only redeem 75 ADA for the same 100 mcosADA.
What is mcosADA?
We use mcosADA to track your share of the MCOS/ADA pool. Please KEEP this token until the Discovery Phase ends (14:00 25 Jul 2022). Then, you will be able to exchange mcosADA for MCOS/ADA LP tokens, which represent your share of the MCOS/ADA pool. If you want to withdraw your ADA by turning in mcosADA during the event, there will be a 25% fee on the last 2 days.
What are the policy IDs?
MCOS: 6f46e1304b16d884c85c62fb0eef35028facdc41aaa0fd319a152ed6
mcosADA: fb1f050de21989848f758c2afae425d23ecc877a27875edee1dfa9fc
MCOS/ADA LP token: e4214b7cce62ac6fbba385d164df48e157eae5863521b4b67ca71d86
Functional NFT: efd7bd84c73fa01400d3c892365ce90b203981aab678bcffb6f3406a
Is LBE the same as airdrop?
Not at all. There is a massive difference between LBE and token airdrop. LBE requires users to deposit ADA to receive MCOS. Then, you can either stake for exclusive APR while receiving bonus NFTs or withdraw your tokens. The token airdrop, on the other hand, allows you to claim a certain amount of MCOS every month for free if you hold our NFTs. The token airdrop will follow the LBE.
How will the price be determined?
The price will completely be determined by the market based on the ADA amount users deposit at the end of the Discovery Phase. Let’s say the amount of MCOS available to the LBE will always be 20,000,000 (2% of the total supply). The price of MCOS would be 0.05 ADA if all users deposit 1,000,000 ADA at the end of the Discovery phase (1 MCOS = 0.05 ADA).
Please take note of the potential price volatility as there is likely to be significant fluctuation during, before, and after the LBE. It is expected that the starting price will be very low compared to the current price and will adjust as the event progresses. Moreover, the price may also change significantly at the last minute.
Is there a benefit to joining Discovery earlier in the 10-day period?
Definitely. It might be risky to wait until the last minute to send ADA due to network congestion. Additionally, the entire community will benefit if more ADA is committed early, since the current price will be closer to the final price.
What is triple reward farming?
Staking MCOS/ADA tokens to either the exclusive pool or normal pool on Minswap will reward you with MCOS, ADA, and MIN.
What are bonus NFTs?
The bonus NFTs include a functional and a PvP NFT.
The functional NFT is the ticket to participate in the exclusive farm pool with a higher APR and triple farm tokens. This means you can not stake in the exclusive pool without this ticket because we want to make this pool available only to LBE participants and hence later liquidity providers can not stake in it.
The PvP NFT is mainly reserved for PvP gameplay. Conceptually, with this NFT users can exchange for game assets in the PvP phase.
How do I receive the functional NFT?
When the Discovery phase is over, you need to convert mcosADA to MCOS/ADA LP tokens in the Encounter phase. Then we will send you the corresponding LP tokens representing your investment in the first phase. Furthermore, you will receive a functional NFT with the LP token amount encoded in its name. For example, if you deposit 1,000 ADA, you will receive 1M LP tokens and an NFT named 1M.
Is the functional NFT tradeable?
Yes. In case a wallet contains two or more functional NFTs, the system will select the one with the highest value.
How much can be staked in the exclusive pool?
A wallet can only stake as many LP tokens into the exclusive farm pool as the amount encoded in the NFT's name. As an example, you participate in the LBE with 1,000 ADA and receive 1M LP tokens along with a functional NFT named 1M. If you possess 1.2M LP tokens plus the aforementioned NFT, you are only permitted to stake 1M LP tokens in the exclusive farm pool. The NFT must be staked along with the LP tokens and will only be returned to you when you unstake.
IMPORTANT: We would like to inform you that the exclusive LP pool has now been merged with the normal pool since the reward for both pools were identical. If you intend to stake your LP tokens, please ensure that you place them in the normal pool. The exclusive pool is no longer active for staking. Furthermore, we want to clarify that the functional NFTs from LBE will NO LONGER be required to stake your LP tokens These NFTs were specifically associated with the exclusive pool, which has now been merged with the normal pool.
The amount of ADA we put into LBE will determine the type of PvP NFT we get, right?
There are 5 different types of PvP NFTs and 500 ADA is the minimum amount. Depending on the amount of ADA you deposit in the LBE, you can receive different types of PVP NFT that can be exchanged for game assets.
Note that the value of an NFT is determined by its ranking, such that: Diamond > Gold > Silver > Copper > Wood. We do not limit the maximum amount of ADA users are allowed to deposit, nor do we limit the number of PvP NFTs available on the market (as long as you qualify, you'll receive your respective PvP NFT).
Is there a support channel?
The primary support channel is on Minswap’s discord. Please make sure you create a ticket there. You can contact us after 24 hours if you don't hear back, we're working very closely with Minswap to ensure everyone has a smooth experience.
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