The Time of The OtterClam Approaches

Prepare for OtterClam Finance IDO launch!

Disclaimer: This protocol, not unlike other early DeFi projects, is very experimental and full of risk. The protocol is forked from the audited OlympusDAO contracts. We plan to partner with the auditor agent for ongoing audits post-launch.

Gather around the stream Otters!

The OtterClam IDO is set and ready to go. For those in our community still looking to whitelist, there are still slots left!

Today we are addressing the following topics:

  1. The details of the IDO launch
  2. $CLAM Launch details
  3. A note on Security concerns

The allocation details of the IDO are as follows below:

  • Initial Allocation : 200,000 $CLAMs
  • (Target: 1,000,000 $MAI)
  • Price: $5 MAI per $CLAM

Additionally please note the following:

  • Limit per whitelisted wallet: 1,000 $MAI
    (Total: 200 $CLAMs)
  • $CLAM purchased will be staked in OtterClam after IDO with a 3 epochs warmup.
  • (Rewards will be lost if you forfeit before release.)
  • $CLAM from IDO can be claimed 24 hours after launch.(11/4/2021–0:00 UTC)

Time Frame for IDO

The OtterClam IDO will be hosted in two phases:

  1. “Whitelisted” Otters
    (11/1/2021–0:00 UTC) — (11/1/2021–23:59 UTC)

During this phase Otters that have been whitelisted will be eligible to purchase up to their maximum allocated $CLAM (200 $CLAM)

Any remaining allocations will go to the “Public” Otters phase

  1. “Public” Otters
    (11/2/2021–0:00 UTC) — (11/2/2021–23:59 UTC)

During this phase all will be eligible to purchase $CLAM. The $CLAM will follow the same lockup details as above.

$CLAM LAUNCH DETAILS

  • The first epoch starts at (11/3/2021–0:00 UTC)
  • OtterClam will host staking and bonds from the time of initial release.
  • The Initial APY — 91,723%
  • QuickSwap will host $CLAM at $15 with $750,000 MAI initial liquidity.

A note on security Concerns.

With recent concerns around projects that have launched in the space. We wanted to take a moment to address this and outline the methods surrounding the launch of OtterClam Finance.

For the IDO launch:

  1. A time lock has been placed on the treasury for 43200 blocks (~ 1 day) to manage changes.
  2. The IDO itself is all run by the deployed contracts and all processes are run by the code in the contract.

This means the team has no way to extract funds from the contract

All contracts themselves are forked from OlympusDAO (which is audited thoroughly), all changes made in the contract relate to naming, timing, and the treasury peg currency (MAI), all other mechanisms are exactly the same as the founding protocol.

Post-Launch and the 24 hour lock-up, the contract will transfer the treasury funds to a multi-sig wallet (so no one individual has access over the funds).

All main contracts are deployed and can be reviewed openly at https://docs.otterclam.finance/references/contracts

We encourage and are happy for others to review these contracts, if there are any concerns, please contact us on our Discord.

Collectively as a community we have grown rapidly, organically and as true otters, forming a strong otterstanding with one another and coming together to form the raft, team and spirit that we endeavour to bring to the space with the launch of OtterClam finance.

We are excited to enter into our launch phase and delighted that you can all join us.

Thank you to all our whitelisted otters and community for their patience and engagement!

Lets get these $ClAMS Otters!

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