Solana Decentralised Launchpad Waggle upgrades to Waggle V2 — launches $POLLEN and 6,666 NFT Collection, MVB
The decentralised launchpad and locked token trading platform has planned for a major upgrade, where existing holders of WAG will stand a chance to receive a sister token, POLLEN, following a maximum supply of 100 million tokens. WAG holders who provide liquidity on Raydium between 30 January 2024 to [REDACTED] 2024 will receive the new token in proportional amounts to the LP token they hold at the date of snapshot. POLLEN tokenomics will be announced in future.
Waggle Network has since distributed their entire token supply of WAG fully in 2023. The shakeup with the new token, POLLEN, is designed to migrate the control of the protocol to the community in the next phase of Waggle. In the previous tokenomics, 40% of the token supply was allocated to investors and core contributors. In the new tokenomics, POLLEN will be entirely emitted to the community through LP incentive programmes, NFT campaigns, and [REDACTED].
Following the POLLEN airdrop, Waggle V2 will be fully released with a comprehensive revamp of the platform, incorporating exciting new DeFi products 🔜
What Happens Next?
WAG will NOT be deprecated. In future, WAG will serve as the liquidity token of the protocol and POLLEN will serve as the utility (including governance) token which will be used to facilitate the protocol activities on Waggle Network.
On the day of the snapshot, all liquidity providers of WAG-USDC on Raydium will be awarded POLLEN based on (1) the number of WAG-USDC LP tokens they own and (2) the duration of their liquidity provision.
Formula: Airdrop Allocation = (LP Weight/Total Weight) ✖️ POLLEN Pool
- LP Weight will be calculated based on (1) and (2)
- Total Weight is the summed weight value of all users
- The POLLEN pool is the total amount of POLLEN that will be allocated as airdrop rewards.
Waggle Network will also begin their efforts to move control to the community holders in Solana through a 6,666 Solana NFT collection — Most Valuable Bees (MVB).
With the release of MVB, up to $4.5 Million worth of rewards will be distributed to active supporters (and OGs) of Waggle Network.
MVB NFT — Free Mint Collection by Waggle
Most Valuable Bees (MVB) 6,666 NFT collection is a novel way for the Waggle team to thank and reward their loyal user base. Waggle has decided to carve out $4.5 million worth of POLLEN for the MVB NFT Holders, released through airdrop and the harvesting campaign below.
How to get my MVB?
In the upcoming days, we will be revamping HIVE to include a LP Staker where WAG-USDC LP Providers can stake their LP tokens to qualify for the MVB free mint allowlist.
Further details on staking requirements will be provided upon the release of HIVE. A gentle reminder here to prepare your LP Tokens by adding liquidity on Raydium 👀
Following the MVB mint, we will initiate a harvesting campaign, allowing Queen and Drone MVB to soft-stake their MVB and send them out for Honey harvesting.
Wonder what the honey is for? 🧐
At the end of the campaign, both MVB NFTs and Honey can be converted into POLLEN. The larger your bee gang, the better returns they will bring.
To reward the loyal platform users, all legacy Queen Bees and Drone Bees will be eligible to claim an additional NFT respectively. The legacy staking programme ended and snapshot was taken as of 9th December, 2023 and the following addresses are entitled to an additional free NFT of their tier.
To make sure you maximise your rewards, it is recommended that these legacy stakers add on stakes to meet the new tiers so they can receive more than 1 free NFT claim.
Roadmap
TL;DR — What am I supposed to do?
🍯 Waggle Network is releasing a new token, POLLEN, airdropping based on time-value-weighted contributions to liquidity providers of WAG on Raydium LP.
🍯 POLLEN is the new utility token of the protocol, with a token supply of 100 million.
🍯 Waggle Network is launching a 6,666 NFT collection called Most Valuable Bees (MVB), OG stakers and new liquidity providers on Raydium are entitled to mint.
🍯 MVB can be soft-staked and sent out for harvest to earn more POLLEN, rewards worth up to $4.5 million in the harvest campaign.
🍯 Provide liquidity on Raydium today to get POLLEN airdrop and MVB (🔜): https://raydium.io/liquidity/add/?coin0=5tN42n9vMi6ubp67Uy4NnmM5DMZYN8aS8GeB3bEDHr6E&coin1=EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v&fixed=coin0&ammId=FEFzBbbEK8yDigqyJPgJKMR5X1xZARC25QTCskvudjuK
FAQs
↘ How do I buy WAG & withdraw to Solana wallet?
↘ How do I provide WAG-USDC liquidity on Raydium?
About Waggle
Waggle Network is a Solana-based multi-chain platform designed for primary market fundraising and trading; enabling projects to raise capital before and after IDO in a decentralized environment.
Waggle curates a public-facing marketplace interface that facilitates crowdfunding and primary token trading. At Waggle, projects will be able to raise capital and grow their userbase, and users will be able to participate in community fundraising rounds in a secure and compliant way, as well as access opportunities previously only available to institutional players.
Waggle seeks to build a future for fundraising that is decentralized, efficient, empowering and value-generated.
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