Floor Price Fund
The NEU token has a Floor Price Fund in USDC. The Floor Price Fund helps support the NEU token price to the final price of the public sale (which is also the listing price).
10% of the Public Sale funds will be sent to the Floor Price Fund.
Public Sale Fund Distribution:
- 40% will be used to seed POL for $NEU
- 30% will be directed to the treasury and allocated as follows:
- 1.10% Floor Price Fund
- 2.20% Treasury
- 30% will be distributed to core contributors
This Fund will be used to buyback NEU tokens within 24 hours after the market price is maintained below the listing price for 48 hours. The single maximum purchase limit (cap) is equal to 10% of the initially directed funds.
For example, if
- NEU token's listing price is $1
- $60k is directed to the Floor Price Fund after the public sale
- NEU token price drops from $1 to $0.98 on Jan 1 15:00, and stays below $1 until Jan 3 15:00The Floor Price Fund will be used within the period of Jan 3 ~ Jan 4 to buyback NEU tokens until the listing price ($1) is reached or the cap ($6k) used.
After all the funds are used, there would be no buybacks occurring. This is subject to change through voting after the implementation of governance.
The Floor Price Fund address will be uploaded soon!