rhino.fi launched our own token, DVF, in the summer of 2021 (when we were still called DeversiFi). Our goal was to allow early supporters to purchase tokens ahead of the launch of several products and initiatives, such as liquidity mining, AMM liquidity provision and initial price discovery — aka the official DVF launch.
Our first ever RLM was used to launch our native governance token DVF, with a community offering of 2,000,000 DVF tokens (taken from the DVF treasury). Read below to find out more about what a RLM is, the benefits and details on our public distribution event.
What is a RLM?
We believe in fairness and rewarding our loyal communities and a RLM does just that – it’s a fair price discovery mechanism for launching tokens on rhino.fi.
When launching a new token that is not already trading/liquid, it is impossible to know the value that the market will assign to that token. This can lead to over or under-pricing at launch, with adverse effects. But RLMs solve these problems:
What is the DVF RLM?
2,000,000 DVF tokens were made available via a DLM on Thursday 8th July 2021.
The purpose of the DLM was to allow early supporters of DeversiFi to purchase DVF tokens ahead of the start of several DeversiFi product launches & liquidity mining, AMM liquidity provision and initial price discovery – aka the official DVF launch.
Ensuring that DVF has a good level of liquidity after launch was essential to enable protocol participation. Therefore all funds raised by the DLM were used to seed a rhino.fi market and a Sushiswap pool and a Uniswap pool. The SushiSwap and Uniswap LP tokens will be owned by the DVF treasury, and therefore DVF holders as community owned long term liquidity.
When: Thursday 8th July 2021 15:00 UTC +1
Purpose: Generate community-owned liquidity for initial on-chain AMM pool
DVF Tokens available: 2,000,000
Duration: 48 hours
Start Price: $2.00
Floor Price: $0.4
Now the DVF DLM has finished, the USDt raised has been matched with DVF tokens from the DVF treasury and used to seed a rhino.fi market and a Sushiswap pool and a Uniswap pool. This will ensure continuous liquidity in the lead up to the DeversiFi AMM launch and start of DeversiFi liquidity mining.
Here’s an example of our first sale, the DVF DLM and how the price changed throughout: