SpaceShipX Finance: Space Rebase Presale

Polygon Chain

PROJECT IS ACTIVE

Links

Social links

Project details

Presale for an elastic rebase algorithmic stablecoin (tomb fork) protocol, pegged to XSHARE, on Polygon.

No contracts available at the time of review.

Launch Details
- Presale will be held on the SpaceShipX launchpad, here, and will last for 1 day
- Commit XSHARE/USDC LP tokens to receive XSHIP/XSHARE LP tokens
  - XSHARE is SpaceShipX’s native token for its fractional algorithmic synthetic protocol
- Hard cap: $20,000 in XSHARE/USDC
- No minimum or maximum allocation – overflow method; final allocation is proportional to your share of the total contributions and any excess LP tokens are refunded
- Presale vesting: 100% at TGE
- Initial market cap: unknown
- Presale funds allocation;
  - 50% of USDC to buy back XSHARE
  - 50% of USDC to development fund
  - 100% of XSHARE added to XSHIP/XSHARE liquidity
- Token is scheduled to launch immediately after presale ends
- Genesis farming for XSHIP rewards will begin immediately after token launch

Tokens
- $XSHIP is the algo-stable and rebase token, pegged 1:1 to XSHARE
  - Variable sell tax, ranging from 5-15%, when price is under peg
- $SPACE is the shares token
  - Total supply: 70,000
    - 7,000 — Project treasury
    - 6,950 — Development fund
    - 56,000 — Liquidity mining incentives
    - 50 — Pre-mint for initial liquidity
- No bond token

Features
- Variable sell tax on XSHIP
  - 5%, when XSHIP between 0.9–1
  - 10% when XSHIP between 0.8–0.9 XSHARE
  - 15%, when XSHIP below 0.8 XSHARE
  - 20%, 4 hours after rebase
- Rebase mechanism – used to support XSHIP peg by reducing its circulating supply when either of the following conditions are met;
  - TWAP is at or below 0.85 at an epoch
  - TWAP has been below 1 for 6 consecutive epochs (6 hours/epoch)

DYOR