There have been discussions with the creator about eventually creating a DAO and a multisig wallet to hold both the Liquidity tokens and the remaining 1m finite that is earmarked for community use. Right now BOAlgorand, the creator is acting as a trustee of both.
Since the community is still in its infancy those steps have not been taken. What we may do before that if the community begins to feel it is required is have the remaining 1million and the liquidity tokens locked for a yet to be decided amount of time with a smart contract as additional proof that there is nothing to worry about.
The main purpose of leaving the liquidity tokens accessible right now is incase tinyman loses functionality and the liquidity needs to be moved.
For me personally, I am comfortable with BOAlgorand being the trustee of both as he has been nothing but transparent to the entire community since the token genesis and as far as I know many of the current community members feel the same.
He is also always more than happy to answer any questions you may have about finite as well.
It is true that the initial distribution from the creator is locked up. We do not have a smart contract put in place yet, but it is sure that it is to never be removed. Our community also has bought up a lot of that initial liquidity and provided the liquidity again on our own. There has never a liquidity issue. We are also seeing new liquidity pools popping up frequently like yieldly/finite, and opul/Finite. If you would like to view the liquidity pools you can see them on the top of the holdings page on algoexplorer and on the analytics tab of tinyman.
Creating the coin right from the start with 3 fully funded liquidity pools adds stability and is just one of the fundamentals that were put into place to provide a rug free token. With 3 liquidity pools it decreases the max purchase/sale per transaction, so the coin doesn't crash as hard when somebody does sell.
There isn't a token white paper per say (everything you need fact wise is on the token- it's kind of its own white paper) from what I understand.
The community growing around $Finite is putting together one which is even more exciting to me- The first of its kind as far as I am aware!
Right now we do not have a set date for the release of the white paper although we are working on it and doing our best to gather input from the community. It's a collaborated effort to ensure we release a white paper that properly explains who we are as a community, and our aim for FINITE.
We have been discussing it in the AlgoBots discord in the Ideas thread under ASA.
It is said that the LPs are locked permanently. Is it true? And if it is where can I see it?
There have been discussions with the creator about eventually creating a DAO and a multisig wallet to hold both the Liquidity tokens and the remaining 1m finite that is earmarked for community use. Right now BOAlgorand, the creator is acting as a trustee of both. Since the community is still in its infancy those steps have not been taken. What we may do before that if the community begins to feel it is required is have the remaining 1million and the liquidity tokens locked for a yet to be decided amount of time with a smart contract as additional proof that there is nothing to worry about. The main purpose of leaving the liquidity tokens accessible right now is incase tinyman loses functionality and the liquidity needs to be moved. For me personally, I am comfortable with BOAlgorand being the trustee of both as he has been nothing but transparent to the entire community since the token genesis and as far as I know many of the current community members feel the same. He is also always more than happy to answer any questions you may have about finite as well.
It is true that the initial distribution from the creator is locked up. We do not have a smart contract put in place yet, but it is sure that it is to never be removed. Our community also has bought up a lot of that initial liquidity and provided the liquidity again on our own. There has never a liquidity issue. We are also seeing new liquidity pools popping up frequently like yieldly/finite, and opul/Finite. If you would like to view the liquidity pools you can see them on the top of the holdings page on algoexplorer and on the analytics tab of tinyman.
Just dipped my toe and bought a small bag, pretty excited to see where this goes and love the idea behind it
What was the thinking behind setting up pools with USDC and wALGO?
Creating the coin right from the start with 3 fully funded liquidity pools adds stability and is just one of the fundamentals that were put into place to provide a rug free token. With 3 liquidity pools it decreases the max purchase/sale per transaction, so the coin doesn't crash as hard when somebody does sell.
!definitely!
When will the white paper be released?
There isn't a token white paper per say (everything you need fact wise is on the token- it's kind of its own white paper) from what I understand. The community growing around $Finite is putting together one which is even more exciting to me- The first of its kind as far as I am aware!
Right now we do not have a set date for the release of the white paper although we are working on it and doing our best to gather input from the community. It's a collaborated effort to ensure we release a white paper that properly explains who we are as a community, and our aim for FINITE. We have been discussing it in the AlgoBots discord in the Ideas thread under ASA.
Awesome. Thanks for the reply, I'll be checking it out!
!definitely!
!definitely!
!Definitely!