Embrace Solunea’s Launch on Arbitrum: Key Details

6 min readMay 8, 2023

Why we are launching on Arbitrum?

As the Solunea project continues to evolve and expand, we are thrilled to announce our upcoming launch on the Arbitrum network. This decision has been driven by several important factors:

  1. Mature DeFi Ecosystem

Arbitrum offers a mature DeFi ecosystem that aligns with Solunea’s vision of being a public liquidity layer serving other DeFi projects. A well-developed DeFi landscape is crucial to our success, and the recent accomplishments of other VE33 projects have demonstrated this. Many of our existing partners will continue to support us on Arbitrum, and we look forward to forging new partnerships within this thriving ecosystem.

2. Improved Infrastructure and Lower Gas Fees

Arbitrum’s infrastructure, including gas fees, is more user-friendly compared to other networks . We have received feedback from numerous investors expressing their frustration with voting costs reaching double-digit dollar figures. Arbitrum’s lower fees will help alleviate this issue and create a better experience for our users.

3. Rewards for zkSync Investors

we will offer zksync investors discounted participation opportunities in Solunea’s Arbitrum launch. This win-win arrangement will benefit both zkSync and Arbitrum investors. Additionally, we remain optimistic about zkSync’s long-term prospects and will continue to build on their platform, recognizing that further development may require some time.

Initial Distribution

Initially, we will mint a total of 100 million $SLNA . Our innovative tokenomics model is designed to promote positive engagement from all participants, ultimately benefiting every stakeholder involved. As we launch, our partners will be granted an initial veSLNA allocation to kick-start their involvement, while a select group of dedicated users from each partner protocol will receive a veSLNA/SLNA airdrop.

25% veSLNA Protocol Airdrop

We have allocated 25% of the initial supply for airdropping to protocols that demonstrate a commitment to engaging with our liquidity layer. In our evaluation of these protocols, we have considered numerous factors, including TVL, trade volumes, and products. Additionally, we have aimed to strike a balance between native Arbitrum protocols and those transitioning from other chains to Arbitrum.

The veSLNA airdrop amount for each protocol will vary, ranging from 0.3% to 0.8%, depending on the specific needs and value-add of each protocol. These amounts serve to acquaint the protocols with the ecosystem and provide them with a head start. Crucially, due to our rebase model and the balanced quantities, it helps us build a long-term partnership with these protocols.

The list of protocols set to receive the airdrop can be found here and will be updated as we approach the official platform launch.

20% veSLNA Airdrop for Users

We have designated 20% of the initial supply for regular users of Solunea and our partner protocols. These users are selected based on behaviors that contribute to the long-term stability of the protocols, such as locking, staking, holding, participating in governance, and ongoing support.

Airdrop recipients will receive their allocation as veSLNA, locked for the maximum 2-year duration. By doing so, we aim to support early members while maintaining the long-term sustainability of the project.

For our airdrop users, we have prepared an exciting surprise — the Lucky Drop! Airdrop recipients will have a chance to receive up to $1000 worth of airdrop rewards! The Lucky Drop is unlocked, meaning there are no restrictions on its use. All users participating in the airdrop will have the opportunity to win the Lucky Drop. So, let’s see if you’re one of the lucky ones!

10% SLNA for presalers

10% of the tokens ( exact percentage is 10.27% )will be allocated to presale participants on Arbitrum. Our presale on Arbitrum aims to raise a total of 80 ETH, with the majority (70%) being used for providing liquidity on POL. Soft cap is 40 ETH. If the full 80 ETH isn’t raised, thccce remaining tokens will be burned. The presale will be divided into two phases:

  1. Private presale round

Hard cap : 20 ETH

Qualification : Only members with WL roles can participate. Users who don't currently have the WL role can obtain it by participating in the new Crew 3 sprint.

Price per SLNA : 0.0000072 ETH

Start time : 2023/05/13 14:00 UTC

Duration: 24 hours.

Contribute limitation: minimum of 0.1 ETH and maximum of 2 ETH.

Vesting: 30% being fully released at launch and the remaining 70% being unlocked linearly over one month.

2. Public presale round

Hard cap : 60 ETH

Qualification : Everyone can participate

Price per SLNA : 0.000008 ETH

Start time : 2023/05/14 15:00 UTC

Duration: 24 hours.

Contribute limitation: minimum of 0.1 ETH and maximum of 2 ETH.

Vesting: 30% being fully released at launch and the remaining 70% being unlocked linearly over one month.

with a hard cap of 60 ETH. All members can participate. The start time is 2023/05/14 15:00 UTC, also lasting for 24 hours. Each account can contribute a minimum of 0.1 ETH and a maximum of 2 ETH.

3. Launch Mcap

The initial circulation market cap will be approximately 36 ETH, which, at an ETH price of $1900, equates to roughly $68.5K.

7% DEX Liquidity

7% of the initial supply will be paired with $ETH to ensure liquidity at launch.

A total of 56ETH from the Solunea presale funds will be paired with 7M $SLNA at an initial starting price of 0.000008ETH at launch.

5% zkSync Depositors

We will develop a separate page for zkSync SLNA investors, where they can deposit their SLNA before the arbitrum SLNA presale begins. The deposited SLNA will be locked as 2-year veSLNA. At the same time, for every SLNA they deposit on zkSync, they will be able to claim 1 SLNA on Arbitrum. Like the Arbitrum pre-sale investors, 30% of their SLNA will be unlocked at launch, and the remaining 70% will be linearly unlocked over a month.

The listing price of SLNA on Arbitrum is approximately $0.01572. Therefore, based on the current SLNA price on zkSync, the zkSync investors will receive a discount of around 60%.

Investors on zkSync can deposit a maximum of 5 million SLNA. Deposits exceeding this amount will not be accepted.

The benefits of this approach are evident:

  1. All SLNA investors on zkSync can choose to receive a significant discount on SLNA on Arbitrum, and they will also receive additional veSLNA locked for two years.
  2. For those investors who choose not to lock their tokens or are unable to deposit due to exceeding limits, they will benefit from the increase in SLNA price as the circulating supply on zkSync is significantly reduced.

18% Ecosystem Grants

18% of the initial supply is designated for a dedicated fund that will be employed to support various projects focused on accelerating Solunea’s growth. Projects that make the shortlist will receive substantial backing from the core team, including smart contract development, marketing, and business development, among others.

This grant allocation will be stored in the Solunea treasury wallet and is subject to approval before use. we will choose community members later to make it a mutli-sign wallet .

14.73% Team Tokens

14.73% of the initial supply is allocated to the team to encourage their commitment to the long-term success of Solunea.

  • 50% as veSLNA locked for 4 years
  • 50% as $SLNA vested for 2 years

This token allocation has a 2-year linear vesting period (beginning on Epoch 1), with no unlocked tokens at launch. The core team members’ interests are aligned with Solunea by receiving 50% of their supply in the form of voted escrow tokens. This allocation enables team members to share in the protocol’s upside while maintaining a long-term-oriented position.

First, core team members will vote for core pair gauges at Solunea’s inception to achieve the goal of deep liquidity and extremely low slippage for high volume pairs not backed by bribing entities. These will include $ETH, $USDC, and $SLNA denominated pairs. Second, this initial allocation ensures that the core team has enough initial control over the protocol to accomplish the original vision of Solunea.

Launch Schedule

Our launch consists of several stages:

  1. Preparation phase, which includes several events:

1.1 zkSync deposit: Starts on 5/12 at 14:00 UTC and lasts for 24 hours

1.2 Arbitrum presale: Starts on 5/13 at 14:00 UTC and lasts for 49 hours ( 2 rounds)

1.3 Airdrop claim phase: From 5/15 to 5/18

2. Voting phase (5/15 ~ 5/18)

During this phase, emissions haven’t officially begun. Users who have locked SLNA as veSLNA or received veSLNA through airdrops can vote and will earn fees and bribes once the next epoch begins.

3. Official launch phase

At the start of this phase, emissions officially begin, and bribes can be deposited. All bribes will take immediate effect and will be released linearly over seven days. Voters will receive fees and bribes in real-time.