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Understanding the Multi-Chain DEX Aggregator Arken Finance in One Article
On March 15, 2023, Arken Finance and Impossible Finance jointly announced that Arken Finance will be the 17th project to launch an IDO on the Impossible Finance platform, with the purchase open from April 4th to April 5th. The total supply of this IDO is 237,500,000 tokens, priced at $0.004/ARKEN.
What is Arken Finance?
Arken Finance is a project that provides a DeFi abstraction layer for the multi-chain future. It is an integrated trading portal and DeFi infrastructure layer designed to abstract the complexity of DeFi. It is a DEX aggregator that provides a one-stop trading tool for DEX traders to monitor tokens and synthetic assets, predict market trends, and trade at the best rates.
Arken Finance recognizes that the complexity of DeFi is one of the biggest barriers to entry, and they aim to bridge this gap for developers and users, making it easier to build applications and allowing users and traders to seamlessly participate in the DeFi space.
Arken Finance is equipped with a wealth of professional tools to enhance users' DeFi trading. Its tools combine real-time trading views, providing users with a single entry point for easy management of digital assets, and can customize over 160 different technical indicators and unique professional charts for advanced traders.
Arken Finance allows users to use multiple chains and protocols on a single interface without switching wallets or networks, while providing the best trading prices and liquidity for users. Its feature-rich platform is a playground for any trader, whether a beginner or an advanced player, to monitor real-time token prices and discover new market opportunities to make the wisest investment decisions.
Currently, Arken Finance supports four public chains: Ethereum, BNB Chain, Polygon, and Solana, and plans to support more chains and protocols in the future, such as Avalanche, Arbitrum, Fantom, etc. The upcoming IDO on April 3rd will be conducted on the Arbitrum public chain network. The launch of the native token $ARKEN will support the protocol's ecosystem and provide real returns to holders, driving strong growth for Arken Finance.
Team Background
The Arken Finance team is mainly located in Southeast Asia and consists of developers, UX/UI designers, and a marketing department with years of experience in blockchain and finance, as well as a lot of entrepreneurial experience. The team values cooperation with the market and users, so they focus on providing products that are user-friendly. Team members include:
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Jason Lee: Founder and CEO, who has held senior positions at well-known exchanges such as Coinbase, Binance, and Huobi.
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Kevin Wang: Co-founder and CTO, who has worked at tech giants like Google and Facebook, responsible for developing and maintaining complex software systems.
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Alice Chen: Co-founder and COO, who has worked at financial institutions such as JPMorgan Chase and Goldman Sachs, responsible for managing and optimizing business processes and risk control.
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Henry Liu: Co-founder and CMO, who has worked at internet companies like Microsoft and Amazon, responsible for promotion and marketing strategies.
Token Economic Model
The native token $ARKEN, as a utility token, promotes the development of Arken Finance's token economics, supporting the protocol's ecosystem—surrounding utilities, rewards, and equity, supporting the future launch of the Arken Governance system, allowing the community to participate in the project's decision-making process.
$ARKEN has various uses and purposes to support the development of Arken Finance's ecosystem, which includes but is not limited to:
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Promoting decentralized governance
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Providing fee rebates to liquidity providers for the Arken pool
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Serving as a utility token used in the Arken ecosystem, such as the aggregator protocol, decentralized private funds, and future products.
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Early access, $ARKEN holders will also be the first to access the latest products, protocols, and innovations from Arken Finance.
The total supply of $ARKEN is 10 billion, with a commitment not to increase issuance. The allocation breakdown and specific details are as follows:
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51.75% - Community, details:
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Community development (20%): Vesting over 208 weeks, will be used for marketing purposes. 15% of this allocation will be available for TGE.
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Treasury (25.75%): This portion will be fully unlocked at TGE, aimed at supporting the future needs of the Arken community. This fund will be managed and stored in a multi-signature wallet on the first day for flexible management in future plans.
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Public sale and IDO platform (5%): Will be evenly distributed to the Impossible Finance Launch Pad and the public sale of Arken Finance.
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Airdrop (1%): For the first round of airdrops and future rounds.
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18.25% - Ecosystem growth, vesting over 208 weeks, and used for contributors, incentives, and ecosystem development of DEX liquidity within the Arken ecosystem. 15% of this allocation will be used at TGE.
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15% - Team, vesting over 312 weeks, with a 26-week cliff period, no tokens available at TGE.
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13.50% - Investors, vesting over 312 weeks, with a 26-week cliff period, no tokens available at TGE.
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1.5% - Advisors, vesting over 312 weeks, with a 26-week cliff period, no tokens available at TGE.
$ARKEN Vesting Period and Release Schedule Introduction and Notes:
The allocation for community and ecosystem development is linearly vested over 208 weeks, while the allocation for investors, advisors, and the team is linearly vested over 312 weeks, reflecting Arken Finance's commitment to providing long-term access to DeFi for everyone. This will form a positive cycle with those who believe in and support the sustainable ecosystem of Arken Finance, protecting their investments, while the Arken Finance team focuses on what is truly important to the community.
IDO Information and How to Participate
Timeline for Arken Finance's IDO on the Impossible Finance platform:
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KYC on the Impossible Finance platform, preparation time: Ongoing
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Staking $IDIA (Impossible Finance platform token or other tokens) time: March 15, 2023, 18:00 to April 4, 2023, 18:00 (UTC)
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Purchase of $ARKEN time: April 4, 2023, 22:00 to April 5, 2023, 22:00 (UTC)
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Claiming $ARKEN time: Expected on April 6, 2023, 22:00 (UTC)
Arken Finance IDO link:
https://app.impossible.finance/launchpad/project/Arken
Detailed usage tutorial for Impossible Finance:
Token Sale Details:
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Token code: ARKEN
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Staking purchase available networks: Arbitrum (purchased using USDC) and BNB Chain (purchased using BUSD)
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Total supply for IDO: 237,500,000 ARKEN
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Public sale price: 1 ARKEN = US$0.004 BUSD
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Absolute upper limit for public sale: US$1,000,000 (split into multiple pools)
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Token sale format: Staking equity subscription Supported collateral: Only IDIA (BNB Chain, Arbitrum), vIDIA (BNB Chain), C98 (BNB Chain), and Impossible staking partners (more details to be announced)
Token vesting release: 100% allocation on the first day.
Buyback protection plan: Arken Finance has committed to repurchase ARKEN tokens when the token price falls below a certain threshold. More details will be announced later.
Staking method/staking pool introduction:
Staking pool and claiming notes: All ARKEN tokens will be distributed on the Arbitrum network, regardless of whether users stake on BNB Chain or Arbitrum.
IDO Coming Soon
The Impossible Launchpad is a fair platform for Impossible projects to conduct IDOs, innovatively allocating equity by proportionally determining the amount of equity held over time, allowing us to measure interests in a way that is fair and difficult to manipulate for everyone. The cooperation between the multi-chain DEX aggregator Arken Finance and Impossible Finance for this IDO is currently in the staking phase, and we will continue to monitor the future price trend of $ARKEN after the IDO. If you are interested in learning more about the Arken Finance IDO, the following media can help you explore:
Website:
Twitter:
https://twitter.com/ArkenFinance
Discord:
https://discord.com/invite/GPWDsEAaE7
Gitbook:
https://docs.arken.finance/arken-finance/
Reprint of Arken Finance IDO article:
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