(Boston, Massachusetts) – Popcorn, a new platform for decentralized finance where yield-generating products simultaneously contribute to social impact, just announced its Token Launch Auction (TLA), which will take place on Monday, November, 29th, 2021 at 8:00:00 AM UTC. The token launch will be the first opportunity for the general public to join the PopcornDAO, a decentralized autonomous organization, by acquiring the POP governance token. This is a 2.5 day, multi-chain event for the Popcorn community where all proceeds raised will go to the Popcorn Treasury, a smart contract entirely controlled by the Popcorn token holders.
Members of the PopcornDAO, or POP token holders, are eligible to participate in governance, specifically in beneficiary nominations and grant elections. They determine which beneficiaries receive a percentage of earned protocol fees on a monthly, quarterly, and annual basis, and are incentivized to do so with POP rewards. Token holders have the ability to vote on proposals that influence the parameters of Popcorn’s smart contracts and are also incentivized to run keeper nodes to maintain smart contract performance. Additionally, yield farming and staking incentives will be available for token holders who use Popcorn’s yield-generating DeFi products.
“The token launch auction is the first opportunity for the general public to buy POP and participate in governance. The purpose of the event is to distribute governance to a broader community, inject liquidity into the Popcorn ecosystem, and initiate price discovery for POP,” said Michael Kisselgof, co-founder of Popcorn.
Popcorn is aiding a revolutionary shift in global systems through accessible DeFi products that align financial wellbeing with positive global impact. By incorporating social and environmental impact into the very foundation of the protocol, Popcorn’s DeFi primitives and products can be used to fund social impact and non-profit organizations. By virtue of using Popcorn, you are doing good.
Prior to the TLA, Popcorn raised $6 million in funding from notable investment groups, including Jump Capital, New Form Capital, Kenetic Capital, Cakebox Capital, The LAO, Impossible Finance, The Crypto Founders Network, Big Brain Holdings, Hestia Holdings, Amino Capital, Humlo Ventures, and angels from MakerDAO, IBM, NASA, Google, and Deloitte.
To take part in the token launch, users will need to have USDC on either the Ethereum or Polygon chain. It only takes a few steps to get funds ready, but individuals will want to prepare them as soon as possible since withdrawals from centralized exchanges can take time to process. For more information about Popcorn’s Token Launch Auction Event, please see the FAQ and the Step-by-Step Guide.
– POP Tokens Offered : 3,750,000
– When? 11/29/2021 ~8:00:00 AM UTC until 12/1/2021 ~8:00:00 PM UTC
– Where? POP/USDC Copper Token Launch Auction Pool