An IFO model (Initial Farming Offering) to fundraise community projects.
Tutellus has contributed to create a huge ecosystem not only to learn about crypto, but also to launch projects and startups. Till now, more than 10 projects & startups have emerged from the community:
Until October 2021 these projects have been fundraised through the community but with no token interaction. From now on, any project from community that need money to grow will be fundraised through the Launchpad: an IFO model where holders need to stake the LP TUT token in order to receive the token project. Let's see how it works.
1. How does it work?
The only condition to raise funds through the TUT protocol is that the project must be founded or contributed by a "Tutelliano". That means some guy of the project needs previously be part of the Alumni network, so need to get into a Bootcamp.
Tutellus helps the project to design & develop good tokenomics.
The startup generates the tokens.
The IFO dAPP generates a contract to stake LP tokens TUT-BTC.
The holders commit LP tokens to the Launchpad contract, and when the IFO finishes the contract it distributes the tokens between LP holders. All the LP tokens that refill the amount of requested funds are refunded to holders, through the contract.
Once the contract gets the LP tokens, the dAPP withdraws the LP and burns half of the tokens (TUT), letting the other 50% (BTC) for the business purpose as liquidity.
Finally, Tutellus helps the project to launch the liquidity pool and to start the business.
Everyone wins in this model: the holder gets the token project at a lower price than the pool; the project gets funded, and Tutellus burns 50% of the money raised in TUT tokens.