Volatility Protocol announced a batch auction to happen on the MISO launchpad on SushiSwap. The VOL token will be offered in this auction on June 14th. It’s the latest IDO that will happen on MISO. VOL is the governance token of the Volatility Protocol and has many use-cases, mostly about discussions and votes on proposals for improving the platform.
More Projects Benefiting From MISO Launchpad
SushiSwap launched the MISO launchpad a few weeks before. It helps projects launch their tokens on SushiSwap and benefit from the tools and features the platform provides for easy launches. Initial DEX Offerings or IDOs are the biggest groups of launches that happen on MISO. Many projects have so far managed their IDO on MISO, and Volatility Protocol is the latest one to do that. It will launch its governance token, VOL, on MISO as a batch auction.
VOL is the governance token of the Volatility Protocol with similar features to other DeFi tokens. It helps the protocol keep the decentralized nature and be governed by the community. VOL token holders are the governors of the Volatility Protocol. They vote for or against new proposals for the platform. Proposals may include a wide variety of suggestions from core protocol configuration and trading fees to staking rewards, collateral requirements, and the distribution of rewards.
As mentioned above, the VOL token will be launched in a batch auction on MISO. In this kind of offering, participants can invest an unlimited amount of money to purchase a fixed amount of tokens. After the auction, all available tokens will be distributed to participants. So, every participant receives a share. Volatility Protocol will offer 750,000 VOL tokens in the upcoming IDO on MISO. Everyone can participate in the offering, but there is an eligibility requirement. It means US residents and citizens in any country that has restrictions over purchasing tokens may not participate.
Volatility Protocol will launch the auction on June 14th. The announcement post details the auction:
“We’ll be offering 750,000 VOL tokens during our public sale on MISO. Eligible participants* can commit any amount of ETH they wish to convert to VOL with no minimums. The auction will run for 48 hours, at which point the market price of VOL is determined by dividing the total amount of ETH raised by 750,000.”
Liquidity is a vital element in DeFi platforms. Volatility Protocol plans to match all of the raised ETH in the auction with another 750,000 VOL and create a pool on SushiSwap to provide liquidity to the holders after the auction.
If you found this article interesting, here you can find more DeFi News
