Apollo token relaunch coming in 7 days.

Apollo token relaunch coming in 7 days.

$APOLLO will be going live 1 week today on the 22nd of January, when we launch our APOLLO/wstETH pool and Terra Holders of $APOLLO will be able to claim their airdrop.

Airdrop can be claimed from (and only from): https://app.apollo.farm/airdrop

As you may have seen from our recent tokenomics article here: https://articles.apollo.farm/apollo-tokenomics/, the APOLLO pool will be launched with a 3% buy and sell tax, funding the team and creating deflationary $APOLLO from day 1.

Ahead of launch we have created the Apollo Tax Prop for Astroport Governance, which will run for 4 days and if approved APOLLO will launch on the 22nd of January.

You can find our signalling proposal on the Astroport Governance here: https://forum.astroport.fi/t/apollo-s-proposal-to-enable-buy-and-sell-taxes-on-astroport-pools/1381

And our on-chain proposal can be found here: https://app.astroport.fi/governance/proposal/138

Apollo Tax Prop for Astroport Governance.

This proposal is to create a pool with a buy and sell tax for the relaunch of the APOLLO token on Astroport, with the aim of benefiting our long term holders at a small cost to traders. In short the main benefits will be to turn APOLLO into a deflationary token, maximise APOLLO liquidity throughout Cosmos and continue the development of APOLLO and Apollo ecosystem projects with minimal sell pressure.

The longterm tax rates for the Apollo pools will be:

Buy Tax: 3% - used to continue funding for the Apollo team and as an “Apollo Ecosystem Fund”.

Sell Tax: 3% - used to burn APOLLO, creating a deflationary token.

For the first 2 weeks the Sell Tax will be higher at launch and reduced in the following way:

  • Week 1: 10%
  • Week 2: 5%
  • Week 3 onwards: 3%

The buy Tax will remain at 3% from launch.

The reason for the increased Tax rate at launch APOLLO will be launching with a fully diluted supply, and we aim to pass as much value back to our holders through removing APOLLO supply from the market from day 1 and we expect increased trading volume over the first couple of weeks.

If you are an xASTRO holder we would appreciate your help and support is getting this proposal pass and $APOLLO launched.