Fables sets Oct. 20 TGE with initial circulating supply capped at 75 million tokens

Fables, a decentralized exchange on Robinhood Chain, said on X that its FABLES token will hold its token generation event on Oct. 20, with the ve(3,3) mechanism launching at the same time.

The project said its points campaign will be extended by two weeks because work related to its legal structure has been delayed. Points will continue through Oct. 19 at a rate of 250 million per week.

From Oct. 12 to Oct. 19, points participants must choose either to receive liquid FABLES or lock their allocation into veFABLES. Wallets that do not make a selection will lose claim eligibility.

Fables also said the PROLOGUE snapshot will be taken from Oct. 17 to Oct. 18. Under the disclosed terms, every 40 PROLOGUE can be redeemed for at least 1 FABLES.

Token allocation and TGE circulation plan

Fables said the planned maximum allocation for FABLES is 1 billion tokens, broken down as follows:

• Emissions: 500 million
• Community: 120 million
• Team: 80 million
• Ecosystem: 80 million
• Strategic reserve: 75 million
• Grants: 50 million
• Operations: 40 million
• Liquidity: 30 million
• PROLOGUE: 25 million

At TGE, circulating supply will be capped at 75 million tokens. That figure includes 25 million tokens for PROLOGUE redemption, while points claims of up to 45 million and the initial liquidity pool allocation of 5 million to 15 million will together total no more than 50 million.

Team tokens will not circulate at TGE. Of the team allocation, 40 million tokens will be permanently locked as veFABLES, while the other 40 million will be subject to a six-month lockup and then unlock over two years.