MagicFox Liquidity & Dex Launch

May 31 update – they ended up launching on May 31 instead of June 1.

Liquidity and dex launch for a multichain ve(3,3) DEX and yield optimizer protocol on BSC, Arbitrum & Polygon.

The team has not announced a time for the launch, only that it is on June 1. This time is a placeholder.

Presale Details
- Presale was held on MagicFox
- Duration: 7 day(s)
- Sale format: Fair launch – no hardcap
- Presale/listing rate: to be determined at end of presale
- Soft cap: $100,000
- No minimum or maximum contribution
- Contributors receive dual tokens – $FOX and $SHROOM
  - 30% in $FOX and 30% in $SHROOM
  - 20% in $veFOXand 20% in $veSHROOM (locked for 1 year)
- Presale vesting: 100% at launch
- Initial circulating market cap: to be determined at end of presale
- Early contributors will be eligible for a bonus $FOX & $SHROOM airdrop
- Refer users and earn 3% of their contribution in $USDC
- Presale funds allocation
  - 20% for initial liquidity
  - 40% to development
  - 20% to marketing
  - 20% to cross-chain growth
- Taxes: 0%

Mechanics & Features
- DEX that combines the concepts of vote-escrow (Solidly) + rebase (3,3)
- Other features include; yield optimizer (auto-compounder), B2B services such as; launchpad, token generator, token & liquidity locker, token multisender, OTC desk
- 0.03% swap fee on stable pools; 0.25% on bluechip pools, 1% on community exotic pools
- Multi-reward and vote-escrowed token system;
  - $FOX and $SHROOM are the reward tokens
  - $veFOX and $veSHROOM are the governance vote-escrowed token
- Liquidity providers receive $FOX emission rewards
- $FOX and $SHROOM can be locked for up to 2 years, to receive $veFOX and $veSHROOM respectively
- $veFOX and $veSHROOM holders can vote weekly to decide which farms or vaults receive $FOX and $SHROOMS emissions respectively, the next week
- $veFOX and $veSHROOM holders receive bribes, rebases (bonus $FOX/$SHROOM), governance power, and a share of platform fees, boosted farm yield
- Initial weekly emissions begin at 151,100 $FOX and 842,837 $SHROOM and decreases by 1% weekly

Tokenomics
- Token symbol: FOX and SHROOM
- Initial supply: unknown
  - 18% — Presale (100% TGE)
  - 4% — Liquidity
  - 18% — Ecosystem (distributed as veFOX & veSHROOM)
  - 5% — Marketing
  - 18% — Team
  - 25% — Partner airdrop (distributed as veFOX & veSHROOM)
  - 12% — Airdrop for users (distributed as veFOX & veSHROOM)