A special purpose DAO called MiniPanther.Money is going to be launched soon on the Fantom network. This organization is going to operate by the DAO rules for staking and bonding. Supply expansion will take place for 2 weeks only, during which 80% of the treasury and liquid pool tokens will be used to do buybacks on the 15th day. MiniPanther is going to be Fantom Network’s meme token. The plan is to donate part of the house’s proceeds to charities related to black cats.
MiniPanther’s whitelisted presale is going to open on February 12th, 2022 and the public one will open on February 13. Both will open at 8 PM UTC. The total cap is 250,000 Dai to get 25,000 native tokens of the project. Liquidity will be introduced on February 15th at double the presale price if it is sold out.
The MiniPanther concept was inspired in part by the recent issues related to governance and DAO token supplies. There have been instances where rebase staking produced too many tokens and mishandling of DAO treasures. MiniPanther takes care of both of these issues in one swoop – supply expansion is limited to 14 days and disabling of the regular withdrawal function. This restricts administrators from directly accessing treasury funds. When the buyback is conducted and completed, a public call function will finish the buyback process.
Once the buyback is complete, MP becomes the meme token for the Fantom ecosystem. MP will use the Minotaur selling tax system. The MP team has a plan to use DAO tokens as an incentive to outside staking pools so that holders can earn double in yields.
