Legion,
Firstly a big thank you to our bidders willing to take AU on those terms, and a congratulations to Axis for their brilliant Auction software that functioned perfectly. **But, we hear you loud and clear.** The first auction attempt didn’t leave enough room for speculation and the vest was too exhaustive. Our first auction was a learning experience, and we’ve listened to your feedback. We’re relaunching the AU auction with a more attractive package: reduced token supply, no vesting, a lower floor price, and a shorter duration. Here’s what you need to know about the new auction:
Supply: 5% of AU (5,000,000 AU)
Date: August 28-30 (48 hours)
Starting Time: 9pm UTC August 28th
Where: Axis Finance
Price: 0.016 MNT minimum (0.01c USD)
Minimum to Succeed: 20% ($10K USD)
Implied minimum FDV: 1,600,000 MNT or 1,000,000 USD
Withdraw/Claim Delay: 1 day
Ticket Size: 50 wMNT minimum
Referral Fee: 10% of any successful bids are awarded to the referrer.
*100% of raised liquidity will be added into the POL POOL2 and staked to continue to grow the largest protocol veCLEO on Mantle.*
Using Axis Finance’s EMP Auction:
The auction will once again utilize Axis Finance’s Encrypted Marginal Price (EMP) system. This innovative auction format ensures fairness by preventing bidders from seeing others’ bids, allowing the market to find a true price through sealed bids. It is a mechanism designed to protect participants from front-running and other forms of market manipulation.
Referrals
Axis has a smart contract-level referral program, linking auctions with bidders. It’s a decentralized marketing fee for anyone who promotes and drives traffic to the AU auction.
Referral bonuses are now bumped up to 10%! The more winning bids or total auction value directed through your links, the more you earn.
The timeline of events is as follows: The auction will be starting on August 28th at 9 PM, and concluding on August 30th at 9 PM. The AU staking module and liquidity on CLEO will go live on August 30th. AU tokens will be claimable from the auction on August 31st at 9 PM, with oAU exercise, Salt Airdrop, and emissions also starting on August 31st.
Auction Programmed: August 26th
Auction Commences: August 28th 9pm UTC
Auction Concludes: August 30th 9pm UTC
AU Staking Module Live: August 30th
AU Liquidity Seeded on CLEO: August 30th
AU Tokens Claimable from Auction: August 31st 9pm UTC
oAU Exercise Enabled: August 31st
oAU Salt Airdrop: August 31st
oAU Emissions go Live: August 31st
Let’s talk about the 10% oAU airdrop
Our loyal early supporters are being generously rewarded with a significant distribution of option coupons (“oAU”) for their pivotal role in building confidence in our system. To enhance the launch conditions of the AU market and ensure sustainable growth, we are introducing thoughtful mechanisms to gradually release oAU and AU tokens. This approach not only smooths the market impact but also provides substantial rewards for participants who align closely with the protocol’s long-term vision.
1. On launch oAU will employ a longer time-weighted oracle price of the previous *12 hours* meaning it will take a while for price movements to be absorbed into the oAU redemption price. Ensure you take a moment to check the market price of any redeemed AU tokens before exercising you coupon especially if you plan on recouping your purchase cost.
2. To reward users for waiting longer, the option coupon will start at a lower discount and increase over a 4-week period.
1. Week 1: 20%
2. Week 2: 30%
3. Week 3: 40%
4. Week 4: 50%
3. AU Relic Stakers will get access to the previous 5 months of revenue (~$25,000) of time-weighted real yield in the form of mETH, WMNT and aUSD starting day one, oAU not included.
What about the other 5% of tokens?
The 5% of AU tokens initially reserved for the launchpad will now be deployed in an aggressive farming campaign to drive mETH adoption on Aurelius. This campaign aims to position Aurelius as the leading platform for maximizing mETH returns.
The benefits of this strategy are multiple:
Focused Messaging: Streamlining our strategy into a clear, mETH-focused narrative.
Sustainable oAU Redemptions: Ensuring a steady influx of MNT and other assets into Aurelius by incentivizing mETH farming.
COOKing with Powder: Aurelius joins the elite ranks in the Methamorphosis campaign, offering exceptional Powder points for mETH-related activities.
Aurelius was already included day one in the methamorphosis campaign for minting aUSD with mETH or supplying mETH in the Market. And now the community bootstrapped aUSD token can be paired with mETH on Cleopatra.exchange to earn not only CLEO emissions and trading fees, but 40x Powder points per day per ETH as well! This is a big honor to join USDT and USDe as the third dollar-like derivative to be included with the maximum Powder earning potential in the Methamorphosis campaign.
With this, Mantle has staked their flag: Aurelius and aUSD are here to make mETH the most rewarding way to manage your ETH, mETH and soon cmETH exposure.
