# 📅┃Launch & Genesis

<figure><img src="https://3420642431-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHBFQDThxW7Uo7iHfOHG5%2Fuploads%2FRWwPv8LfZhLds1ER86LQ%2FCamelot%20Roadmap.jpg?alt=media&#x26;token=e5872b57-a737-40c6-9060-4e8b49508fe4" alt=""><figcaption></figcaption></figure>

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Camelot was designed to be community-driven, and the GRAIL token's launch sequence was a significant factor in achieving that goal. The team remained committed to building the best product possible before seeking funding. The public sale provided a transparent and fair opportunity for the community, investors, and partners to purchase GRAIL
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## Fair launch

The public sale began on November 29th **2022** and ended on December 5th, with GRAIL liquidity going live 24 hours after the sale ended

* The auction mechanism started with a fully diluted valuation (FDV) of $2m, fixing a $20 floor price for GRAIL, and increased after the first $300k was raised
* The public sale offered 15% of the GRAIL supply (15,000 out of 100,000 tokens in total), with 10% in GRAIL and 5% in xGRAIL
* There was no pre-sale or VC investment
* All purchases were settled at the same price based on the total amount deposited
* There was no hard cap on the public sale and no limit on how much USDC could be allocated per wallet
* Users could share a referral link and claim 3% of all referred investments made through it after the launch - Refferal commissions were funded from allocated supply to [Core Contributors](https://docs.camelot.exchange/tokenomics/token-distribution)
* Legacy token holders ([lEXC](https://camelotdex.medium.com/onboarding-v1-holders-to-camelot-on-arbitrum-74305c6c1a45)) were eligible for a 10% discount during the public sale

### [**The public sale results**](https://app.camelot.exchange/launchpad/camelot)

* Total raised: $3,796,460.86
* GRAIL price: $254.21
* Circulating market cap: $5,719,727.37
* Fully diluted valuation (FDV): $25,421,010.52

<figure><img src="https://3420642431-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHBFQDThxW7Uo7iHfOHG5%2Fuploads%2FGWpEtqjYvlPNPtUYorOr%2Fimage.png?alt=media&#x26;token=4cedfe7a-cec3-4ebc-adff-03ba6958d8c5" alt=""><figcaption></figcaption></figure>

**The public sale proceeds were directed as follows:**&#x20;

* 50% was paired with 7.5% of GRAIL from POL in UNI v2-style liquidity
* 30% allocated to xGRAIL real yield staking treasury
* 20% was used to support the Camelot team, which had been entirely self-funded up till the launch

## Genesis pools

Genesis pools were created to serve as exclusive farms for early adopters. The purpose of these farms was to bootstrap initial liquidity for Camelot before GRAIL went live while providing an early and attractive opportunity for the community to accumulate xGRAIL

* Genesis pools were open for deposits from November 22nd, and rewards started being allocated to depositors from November 23rd
* Depositors were earning emissions in xGRAIL linearly during the six months following the public sale and could withdraw anytime, with their share of the emissions redirected to the remaining participants
* In some cases, genesis farm distributed not only xGRAIL but also incentives from a second token, usually provided by a partner protocol
* The Genesis farms are based on the existing Nitro pool reward structure

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Genesis Pools emissions ceased on the 23rd of May 2023
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