Hey friends, thank you for the support and congratulations to everyone who contributed to the Pike Community Presale!
You are all the first investors in this journey of redefining DeFi and changing the multichain paradigm.
tldr:
- USD $6,450,518 total contributions received
- 3,681 qualified participants across 4 Tiers
- 1,989 participants in Tier 1
- 874 participants in Tier 2
- 548 participants in Tier 3
- 405 participants in General Tier
- 3.477b in combined $PIU burned
- 10.33% from the 22% Foundation Treasury was sold during the Pike Community Presale. The remaining 11.67% will be reserved for future capital formation events
- Source: https://docs.google.com/spreadsheets/d/1IC9wILUEXoma-q3-rpa9dIYL-Pfms9H3gXtvT1rGfD4/edit#gid=1474874223
Summary of Presale
We applied the following logic when handling 3 different types (and then a selection of miscellaneous ones) of edge cases:
Participants who sent excess contributions:
- If a participant sent excess contributions and burned the required amount of $PIU for the subsequent Tiers. We applied the waterfall allocation method
- i.e. Burned 1,000,000 $PIU and sent $4,500 for Tier 1. Burned 800,000 $PIU but did not send contributions for Tier 2. We will forward the excess $1,500 from Tier 1 to Tier 2
- If participant sent excess contributions without burning the required amount of $PIU for the subsequent Tier, the excess contributions will be refunded
- i.e. Burned 1,000,000 $PIU and sent $6,000 for Tier 1. Did not burn $PIU for subsequent Tiers. The excess of $3,000 will be refunded
Participants who sent contributions without burning the required amount of $PIU
- Contributions will be refunded
- i.e. Sent $1,200 directly to wallet for Tier 2 but did not burn any $PIU. $1,200 will be refunded
Participants who sent contributions with decimals
- The decimals portion of the contribution will be refunded
- i.e. Burned 100,000 $PIU and sent $200.66 for General Tier. $0.66 will be refunded
Miscellaneous
- Participants who burned $PIU but did not send any contributions. Burned $PIU will not be refunded
- Participants who sent less than $1 will not be refunded
- 20 participants who requested to top-up their Tier 1 contributions before the ending time of Tier 1 will be facilitated. No new additions will be accepted
How to Interpret the Data
Source File (all data is able to be seen in the interest of transparency): https://docs.google.com/spreadsheets/d/1IC9wILUEXoma-q3-rpa9dIYL-Pfms9H3gXtvT1rGfD4/edit#gid=1474874223
Contributors tab
- This tab outlines all successful participants
- Column C to column F presents the number of $PIU burned for each Tier
- Column H to column K presents the contribution amount for each Tier
- Column G presents the total contribution per wallet (adding of all Tiers)
- Column L presents the refund amount for participants who met any of the following conditions:
- Sent excess contributions without burning the required amount of $PIU
- Sent excess contributions beyond the total investable quota of $6,000
- Sent contributions with decimals
Refund tab
- This tab outlines all the refunds and reasons
Tier 1 Top-up tab
- This tab outlines all the participants in Tier 1 who qualify for a top-up and the corresponding maximum top-up amount
Final Thoughts & Forward Looking
Despite some small hiccups at the start of Tier 1, the overall Presale was executed smoothly and the results met our expectations. We are extremely thankful for everyone’s contributions and participation!
Furthermore, the Pike Community Presale is the first program launched via the PIU Points Program (PPP). Our vision for the PPP is to grow into a native multichain launchpad for projects with an inherent multichain DNA - especially once NTT from Wormhole goes live.
Feel free to suggest ideas within the Discord or protocols to partner with, products and features, and more - we answer to you, the presalers now.
About Pike:
Pike is a Universal Liquidity Protocol; it is designed to unleash utility for native assets by aggregating liquidity across blockchain networks.
Pike’s vision is to become a universal liquidity layer that enables frictionless movement and accessibility of native assets across ecosystems. Pike is built on top of Wormhole’s Cross-Chain Data Messaging and Circle’s Cross-Chain Transfer Protocol (CCTP), and utilizes Pyth Network’s Price Feeds.
One fundamental primitive of Pike is to enable users to supply native assets on source chains and borrow native assets destination chains without interacting with cross-chain bridges and handling wrapped assets.
Learn more at: https://www.pike.finance/
Join the Discord at: https://discord.gg/pikefinance