Mercurial Finance Launching on AcceleRaytor

This post was originally published on Raydium

Building Dynamic Vaults for Stable Assets

We’re excited to announce that on May 19, Mercurial Finance will be launching on AcceleRaytor!

Mercurial is building dynamic market making vaults, providing low slippage swaps for stables, while also improving liquidity pool profits with dynamic fees and flexible capital allocation.

This article will cover the two parts of an AcceleRaytor launch: 1) the Public Raise and 2) the IDO on Raydium.

1. MER AcceleRaytor Public Raise details:

Total tokens for the raise: 2,000,000 MER (0.2% of total MER supply)

Token fixed price: 0.125 USDC for 1 MER

Total raise: 250,000 USDC

biswap

Pools open: May 19, 12:00 UTC

Pools close: May 19, 16:00 UTC

Open period of the pools: 4 hours

Eligibility and pool details:

There are two pools available for the Mercurial raise: The RAY50 Pool and RAY500 Pool.

RAY50 Pool:

  • Eligibility: Users must have a minimum of 50 RAY staked in RAY single-sided staking at least 7 days prior to pools opening. Snapshots will be taken starting from the 7-day deadline below and continue until the pool opens.
  • 7-day staking deadline: May 12, 12:00 UTC
  • Total tokens: 1,000,000 MER, unlocked
  • Total raise: 125,000 USDC
  • Maximum allocation: 200 USDC

RAY500 Pool:

  • Eligibility: Users must have a minimum of 500 RAY staked in RAY single-sided staking at least 7 days prior to pools opening. Snapshots will be taken starting from the 7-day deadline below and continue until the pool opens.
  • 7-day staking deadline: May 12, 12:00 UTC
  • Total tokens: 1,000,000 MER, unlocked
  • Total raise: 125,000 USDC
  • Maximum allocation: 600 USDC
  • RAY500 Pool participants are also eligible for an allocation in the RAY50 Pool.

How does it work?

Guaranteed proportional fixed price model: Participants are able to deposit any amount between the min and max allocation during the open period for the pools. Pools can be oversubscribed, meaning that once the total raise is met, participants are still able to contribute funds to the pool. The token price will not change no matter how much is subscribed. When pools close, there are two scenarios which determine final allocation:

  1. Upon closing, pools are at or below the total raise amount: Participants will receive the exact allocation that they contributed to the pools.
  2. Upon closing, pools are oversubscribed and above the total raise amount: Participants will receive an allocation proportional to their contributed funds as a percentage of total funds contributed.
  • Example: Alice deposits 200 USDC (max allocation) into the RAY50 Pool. After the pool is closed, the total subscriptions in the pool will be summed. Suppose that there is 250,000 USDC in the RAY50 Pool meaning that it is oversubscribed by twice the size. Alice’s subscription is equal to 0.08% of the pool (200 USDC contribution divided by 250,000 USDC in the RAY50 Pool). This means Alice will receive 0.08% of the MER tokens in the pool (800 MER) at a cost of 0.125 USDC each (100 USD total). The remaining 100 USDC will also be returned to Alice when she claims her tokens.

Participants will be able to claim their MER token allocations at approximately the same time as the MER IDO on May 20.

2. MER IDO on Raydium:

Token starting price: 0.125 USDC for 1 MER

IDO Launch time: May 20, UTC. Exact time is yet to be announced.

How does it work?

  • Raydium will launch a MER-USDC liquidity pool (LP) on May 20, which will then be live for trading. Exact time is yet to be announced.
  • Participants in the AcceleRaytor raise pools will also be able to claim their tokens at approximately the same time that the MER-USDC LP launches.

Fusion Pool — Provide liquidity to earn MER rewards

  • Users will also be able to add liquidity to MER-USDC LP and then stake LP tokens to earn yield on the Fusion Pools page. Rewards will be in MER tokens.
  • Reward emissions on the Fusion pool will begin approximately 30 minutes after the MER-USDC LP launches, to give users time to add liquidity and stake in the Fusion pool for MER yield farming.

What is Mercurial Finance?

Mercurial vaults are market making vaults providing low slippage swaps for stables, while also improving LP profits with dynamic fees and flexible capital allocation.

The team is designing Mercurial Vaults to have the following key features:

  • Low slippage swaps for stable pairs and forex pairs
  • Dynamic fees that leverage market conditions to improve LP profits
  • Flexible allocation to external platforms like lending protocols to earn additional interest and yield

Mercurial’s focus will be on stable coins as they represent a major part of the DeFi demand across synthetic assets creation, swapping, and lending. Robust availability of stablecoin liquidity is crucial to any DeFi ecosystem.

Make sure to follow official Raydium accounts below for updates.

Persons located in or residents of the United States, North Korea, Iran, Venezuela or any other jurisdiction in which it is prohibited from using any of the services offered on the Raydium website, including AcceleRaytor, (the ”Prohibited Jurisdictions”) are not permitted to make use of these services. For the avoidance of doubt, the foregoing restrictions on any of the services offered on the Raydium website from Prohibited Jurisdictions applies equally to residents and citizens of other nations while located in a Prohibited Jurisdiction.

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