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.
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.
There are 2 ways to raise more funding:
Initiate a public sale to community.
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?
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
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.