FFM Launch Overview
We are very excited about how our FFM launch went, selling out in under 10 seconds and seeing how enthusiastic our community is about our project gives great motivation to the team and assures us that we are going in the right direction. We can't thank our loyal community enough for making it such a huge success.
After a greatly successful public sale and launch of our FFM token, we thought it was a good opportunity to share some stats about the sale, our platform, and what the future holds for Florence Finance.
Quick Sale Stats:
- Participants = 104
- Average participation = 4.27 ETH
- Sale duration = 9 seconds
Once we completed the sale we added FFM liquidity to Camelot at $0.025 to give people who didn't get a chance to buy in the sale another chance to buy FFM at $0.025. Once the trading began it was very clear the enthusiasm that people have for Florence and FFM and we are grateful for all that the community has done to make our FFM launch such a success.
Since trading went live:
- We have 978 individual FFM holders
- ~$5m volume traded in the first 48 hours
- 47,120 Duke NFTs minted
- 5,957 unique users earning interest in our RWA vaults
We have been building Florence Finance quietly & diligently for over 3 years. Over the last few months, we have taken it from relative obscurity to a viable project with a vibrant community, almost fifty thousand Duke NFT holders all farming points, and enjoying the vibes in our fun-filled community venues. Now, we have added to that one of the first steps in our token distribution, with many more to come in the future.
We are super grateful for all on board, whether you were lucky enough to have gotten in on the token sale, bought in through the Camelot Liquidity Pool or are humbly farming points with your Duke NFT. Welcome to all and we would like to let you know that we are only getting started!
To get the project rolling, we seeded our RWA vaults, mostly with our own and our investors' monies, to prove that our lending partners and Florence Finance could bring SME yield on-chain in a legal, sustainable, and safe manner. We now have over 2,5 years of on-chain provenance to prove this. All smart contracts have been audited more than once, and our move to Arbitrum has enabled participation without the issue of high gas fees. Thus we are ready for the next leg of our growth plan, leveraging the community and the community token allocation to grow the TVL. And it looks like we are off to a great start!
Once we reach critical/sustainable TVL the focus will shift to working with the community to build governance and incentive structures that will enable our ultimate goal: Full Decentralization of Credit Creation.
From now on Duke NFT points will be the primary tool for the distribution of the community token allocation and participation in the RWA lending vaults and engagement within the community will become the largest contributor to earning points. As more and more people join the revolution, we will be able to build the lending book and prove to the world that there is a better way to earn yield on stables whilst doing some actual real-world good through funding SMEs
So a sincere thank you again to all for helping us to make it this far and a huge shout-out to come and join the revolution to decentralize credit creation by minting an NFT, buying FLR, and funding one of the two existing vaults.