Funding WispSwap’s launch

Proposals
1

Summary

Finding more ways to raise funds for DEX launch and WISP token launch, as launching on Sui takes more time and cost than initially planned.

Background/Context

  • In order to have a treasury, we need to launch our tokens along with yield farming, but we need to launch a high-performance DEX first. The token launch is expected to be during this month
  • Auditing cost of DEX contracts, batching contracts, prediction markets and yield farming contracts are around $150k-200k. Way more than what we expected.
  • As a community-oriented, we’re still self-funded and haven’t taken any investments from VCs or private investors.
  • With current development and what we aim to build like Asymmetric Concentrated Liquidity and ve(3,3) mechanism, we still need more engineering hours to further optimize the smart contracts.
  • With more VC coming to Sui Network, we need to find a way to stay competitive with VC-funded projects.
  • Overall, the launch’s timeline and expenses have increased due to acknowledge of the final protocol parameters and the auditing cost. As a result, we require external funding to enhance our engineering capacity and cover expenses until the token launch.

Solution

There are 2 ways to raise more funding:

  1. Initiate a public sale to community.
  2. Allocating tokens to VCs or private investors and raise fund from them

The reason we put out this proposal is because we don’t want to make big decisions behind closed doors. I think it’s a good idea to let community have a say in big decisions.

What should WispSwap do to ensure a quality product launch?

  • Public sale
  • Private sale with VCs

0 voters

118 Likes
2

It’s very interesting I’m happy to be here I’m sure it will be a very good exchange project. With the slogan cheap easy and fast.

13 Likes
3

If there is any private sale, my opinion may change depending on the vesting details. Will you share a detail about it?

5 Likes
4

I am happy that the team is transparent and getting the community involved in key decision making. Thank you.

9 Likes
5

In fact, investors may love the project, but if it is acted wisely, the probability of growth is very high.

3 Likes
6

If there is control and proper liquidity public sales ok

3 Likes
7

Thank you for this opportunity to vote

2 Likes
8

Typically on average it costs on average 10K USD to get a Smart Contract Audited by Certik, how many contracts are you getting audited in total? Also, Im an ambassador for Certik and could probably get that at a discount for you… Let Me Know. -mattrick

3 Likes
9

Do you receive a premium per audited contract through you? It’s the first time I’ve seen audit marketing in a forum, sorry. I’m just asking out of curiosity. :melting_face:

3 Likes
10

Actually I dont, Im more of a Community Member / Invited to Volunteer

No worries, you can verify this in their discord member list

2 Likes
11

i like to vote in this excelent project l! thanks!

1 Like
12

Good project Awesome team behind the project :blush: :blush::rocket::rocket:

1 Like
13

I wish success for the project

1 Like
14

i like this open minded team alot

2 Likes
15

Public sale would have served better buh private should be for the community members as they are the focal point of sustainability for the project

2 Likes
16

nice DEX in sui blockchain. Nice airdrop. Thank for opportunity

1 Like
17

How about one part for community funding another part for public sale?

2 Likes
18

I think a public sale but only for supporters of the project who have accumulated a certain amount of Wisp Swap points on the platform or obtained a certain level on zealy. Don’t just let anyone into the presale as they’ll likely dump on launch.

1 Like
19

I Bet this platform is gonna be more great than any other dex if you continue like this
LFG
Community got ya back
#wisp

2 Likes
20

It’s a tough choice, got to weight the pro and con of each side…

3 Likes