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Liquidity Bootstrap Event
Current Liquidity Bootstrap Event plan (subject to change through community feedback)

Liquidity Bootstrap Event

Stag DAO will hold a Liquidity Bootstrap Event (LBE) like most other DAOs. We have two primary ways of raising funds. One is the direct sale of STAG tokens to our whitelist members and the second is the direct sale of our NFTs to secure whitelist slots.

The Goal

The goal of our LBE is to raise enough capital to allow for the proper funding of our STAG-ELK LP pair. This will facilitate initial trading between ELK and STAG without significant price impact. We are planning to raise ~$360k USD equivalent from sales of the STAG token. Another ~$200k USD will come from the sale of our Stag NFT.

LBE for Whitelist Members

We will be selling a total of 45,000 Stag tokens during our LBE. They will be distributed across three tiers of whitelist members.
Vesting is currently an open debate. Both within the team and within the community, expect a vote on this.

Tier 1

Up to 50 members will be lucky enough to earn the Tier 1 rank.

How to get it:

Tier 1 is reserved for those who directly contribute to the project (including the team). You can contribute in a variety of ways: If you can find meaningful ways to help, they will be rewarded. We are here for the long haul. Join us.

What you get:

Tier 1 members will be able to buy tokens at a rate of 1 STAG per 1 ELK. This is very likely the absolute lowest price the STAG token will ever see.
Tier 1 participants will be able to buy an allocation of up to 300 STAG. You do not have to buy the full allocation. At time of writing this would cost about $750 USD.

Tier 2

A total of 100 members will be lucky enough to earn the Tier 2 rank.

How to get it:

Tier 2 is reserved for those members who purchase a Stag NFT and participate in a way that benefits Stag in the long run. Creating and sharing original content on social media, inviting members to Discord, being one of the early people to the server AND contributing as an early member of the community.
The Stag NFT is something the Stag DAO will mint. We will likely call upon the community to help with the artwork (this is a DAO after all).

What you get:

Tier 2 members will be able to buy tokens at a rate of 1 STAG per 3 ELK.
If a Tier 2 member buys their full allocation they will receive 100 Stag. At time of writing this would cost about $750 USD.

Tier 3

A total of 800 members will be lucky enough to earn the Tier 3 rank.

How to get it:

Tier 3 is reserved for those members who purchase a Stag NFT and try to make a good faith attempt to contribute, but may not have a massive following on Twitter or other social media. They aren't artistic so can't make artwork. They can't make funky fresh memes. They do, however, show up each day. They do help their fellow Stag DAO members. They do participate in governance.

What you get:

Tier 3 members will be able to buy at a rate of 1 STAG per 5 ELK.
If a Tier 3 buys their full allocation they will receive 25 STAG. At the time of writing this would cost about $312.50 USD.

Unsold tokens

What happens if we don't sell all the Stag during the LBE? We don't believe this will be a problem, but in the event that it is, we will likely turn to the DAO and come up with a solution together.

Stag NFT

These will be available for minting at a cost of $250 USDC.