The Standard Reserve, which describes itself as an "on-chain central bank," said it will go live on Sept. 14 and outlined the launch mechanics for its Genesis Charters mint. A whitelist mint window is scheduled for 5:30 p.m. to 8:30 p.m. ET, which translates to 5:30 a.m. to 10:30 a.m. Beijing time on Sept. 15, with a liquidity fee of 0.15 ETH.
Any Genesis Charters left after the whitelist phase will move into a 30-minute descending Dutch auction. The auction will open at 1.25 ETH and fall to a floor of 0.15 ETH. The project said 100% of mint proceeds will be directed to initial liquidity and the protocol treasury, and that the team will not take a share.
After the mint ends, the team said it will add liquidity and open trading for the STANDARD token. The first hour of trading will include a temporary anti-sniping tax that starts at 90% and decays exponentially, with most of that decay happening in the first five minutes. The tax revenue will go to the protocol. Regular trading fees are set to return after one hour. At the same time, Charter emissions will begin, and 100 branch licenses will be auctioned in Dutch-auction format, payable in STANDARD.
The Standard Reserve, which calls itself an "on-chain central bank," said it will launch on Sept. 14 and released the Genesis Charters mint schedule.
The whitelist mint window for Genesis Charters will run from 5:30 p.m. to 8:30 p.m. ET, or from 5:30 a.m. to 10:30 a.m. Beijing time on Sept. 15. The liquidity fee is set at 0.15 ETH.
Any remaining Genesis Charters after that window will move into a 30-minute descending Dutch auction. The starting price is 1.25 ETH and the floor is 0.15 ETH.
According to the project, 100% of mint proceeds will go to initial liquidity and the protocol treasury, with no team revenue share.
Once the mint is complete, the team said it will add liquidity and open trading for the STANDARD token. A temporary anti-sniping tax will apply during the first hour of trading. It will start at 90% and decay exponentially, with most of the reduction happening in the first five minutes. Those fees will go to the protocol. After one hour, normal trading fees will resume.
When trading opens, Charter emissions will also begin. In addition, 100 branch licenses will be auctioned through a Dutch auction and paid for in STANDARD.
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