🗝️oMAIGA incentive token
oMAIGA incentive token information
What is oMAIGA token?
In short, oMAIGA is a incentive token that is 1:1 with MAIGA. oMAIGA token holders can unlock to MAIGA based on MAIGA token's total-collective trading volume.
The higher the trading volume, the more it unlocks!
oMAIGA incentive tokens functions as a tool to enable market participants; ie. early supporters, investors, community, foundation, team and etc, to participate early, unlock more liquidity to the Maiga ecosystem and MAIGA token volume, collectively. But without the impact of token dumping on TGE by anyone who gets in early.
New MAIGA tokens are only released into circulation through conversions of oMAIGA incentive token based on MAIGA total trading volume using smart contract and price oracle, making it transparent, immutable and fair for all participants.
oMAIGA incentive token
oMAIGA is an incentive token for MAIGA.
oMAIGA 1:1 with MAIGA. So, it's 1b oMAIGA.
oMAIGA incentive token can't be sold, it is not tradable and non transferable.
oMAIGA can only be converted to MAIGA based on MAIGA trading volume.
Read more on PoT math formula here.
For max trading volume for 100% of oMAIGA unlocks, 2,000,000 BNB trading volume on whitelisted DEX LP is calculated (appr. $1.3b based on $650/BNB).
Initially on TGE, 100% of whitelisted DEX LP volume is used for calculation to prevent wash trading on CEXs and DEXs LPs with little liquidity
How to convert oMAIGA to MAIGA
Incentive tokens "oMAIGA" will be a bep20 token on BNB Chain (BSC). oMAIGA token is similar to any other bep20 token except it is NOT vested based on linear-time-based vesting, but unlocks to MAIGA based on MAIGA trading volume on both DEX and CEX.
Maiga.ai will provide the interface at Maiga.ai for the smart contract interaction. Users just need to connect their web3 wallet, and able to see how much % they would be able to convert their oMAIGA token (locked) to MAIGA token (tradeable).
Summary
MAIGA supply is fixed and is capped at a maximum of 1b tokens.
oMAIGA incentive token are issued with a maximum of 1b oMAIGA tokens, mirroring the supply of MAIGA tokens at a 1:1 ratio. So, 1 oMAIGA = 1 MAIGA.
oMAIGA are 100% distributed to the parties respectively. Therefore, no artificial time-based vesting based on a predetermined time-vesting schedule after TGE.
oMAIGA incentives token has no expiry date. This enables holders of oMAIGA to have maximum ownership of their trading strategy and decide what to do next; ie. trade more to unlock more MAIGA token..
oMAIGA is bind to the wallet address 1:1. For change of oMAIGA ownership, please contact the Maiga team.
Requirement for conversion of oMAIGA to MAIGA token
Accumulative total collective trading volume starts on TGE with MAIGA-BNB LP on Pancakeswap with USD-denominated trades to start unlocking oMAIGA incentive token.
Further integration of CEX’s volume will also be included using Chainlink’s price oracle ensuring decentralisation and further accumulation of total trading volume.
oMAIGA incentive token holders can convert to MAIGA at every level anytime without any pressure to exit hastily, thus, reducing token dump immediately boooooo!
oMAIGA conversions is purely based on MAIGA trading volume hourly, therefore, unlocking of oMAIGA to MAIGA is purely market activity driven, to ensure long term trading volume.
What are the benefits of incentive token?
No token dumping on TGE by insiders, airdrop farmers and seed investors. Fair for secondary market.
Token mechanics based on trading volume and liquidity. Everyone is incentivised to trade.
Trading incentives for traders, bots, arbitrageurs and speculators. Traders risk the cost of capital to exchange incentives for sustainable trading volume.
Game theory 3,3. Everyone is incentivised to trade. “You trade, I trade, everyone wins”.
How does this incentive token works?
Seed investors, teams, advisors, foundation, community, airdrop farmers, gets 100% of oMAIGA incentive token.
oMAIGA incentive token can only be converted based on MAIGA's total-collective trading volume
Traders are incentivised with oMAIGA incentive token for taking capital risk for trading
LPs gets organic yield from MAIGA token trading volume on DEX
Because team, advisors, investors, marketing, foundation, pre-sale are allocated with oMAIGA incentive token, and the only way for these incentive token to convert actual MAIGA token is through actual trading volume, there is no way for any insider to dump the token to the secondary market.
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