Hercules Announces TORCH Public Sale, Kicking off a New Era of Real Yield and Sustainable Liquidity
New York, New York, April 18th, 2024, Chainwire
Two-phase sale begins April 18 via Hercules Launchpad.
Hercules, a decentralized exchange (DEX) providing real yield and deeply customizable liquidity infrastructure, is rolling out a phased public sale of its native TORCH token, giving holders access to real, long-term yield powered by platform fees, a sharp contrast from most other protocols made possible through the use of Camelot’s proven dual-token model.
Built for the Metis Layer 2 ecosystem, Hercules provides tools to help builders launch projects, foster partnerships, and bootstrap third-party project-owned liquidity. Hercules provides users and builders access to the sustainable liquidity they need to navigate the modern DeFi space.
Since launching less than a month ago, Hercules has already attracted nearly $10 million in total value locked, much of it from other protocols. Additionally, Hercules has generated nearly $100,000 in fees, which have largely been returned to its users. As the platform’s usage grows further so will the rewards paid back to its users.
Hercules features an innovative dual-token model in which an escrowed version of TORCH known as xTORCH, is used to support a flexible value-access mechanism. TORCH represents the value of the Hercules protocol and can be easily converted to xTORCH, which can then be allocated to three Hercules plugins: Dividends (collected platform fees), Yield Booster, and Launchpad.
Metis recently announced a large ecosystem development fund of $400 million and is introducing crypto’s very first Layer 2 decentralized sequencer. These developments have attracted many new protocols to the network, including Frax Finance, DeFi Kingdoms, Popsicle Finance, zkERA, Gamma Strategies, Steer Protocol, and many more. Hercules is expected to foster this new wave of innovation.
The TORCH sale will begin on the Hercules Launchpad on April 18, starting with a three-stage whitelist sale round and followed by a first-come, first-served, and fully public sale round. The sale aims to raise $1 million.
During the TORCH public sale phase, the cap will be $1 million in METIS. Once the cap is reached, the sale ends.
About Hercules
With a composable, efficient liquidity protocol featuring seamless swaps, staking, real yield, and a launchpad, Hercules aims to become the native liquidity layer for the Metis Andromeda network. Its flexible features are tailored to protocol-owned liquidity, allowing dynamic fees and customizable incentives packaged in a user-friendly interface.
