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Diamond Token LGE
An LGE is a community driven liquidity generation event. A fantastic new way to launch any project's token and we are doing it with Fantom's DEX leader SpiritSwap.
The reason why LGE is such a good way to launch a project because it's completely community driven, the price is not fixed. Community decides the price of Diamonds. Price = Total FTM sent during the LGE period by participants/Total diamond tokens available.
There will be 12500 Diamond tokens available through the LGE (from Monday 7th March 2022 3PM UTC till Wednesday). You can send any amount of FTM (minimum 50, maximum 5000) that you wish to exchange and to get Diamond tokens in return.
For example let's say a total of 50000 FTM is sent by the community during this 3 days LGE, then price of Diamond tokens would be 50K/12.5K = 4 FTM (this is just an example, the price of diamond totally depends on how much FTM is received during the LGE).
Now, how this LGE will be a big advantage for the community?
100% of the FTM received during the LGE is added to SpiritSwap with 10,000 Diamond tokens - meaning whatever is the price that you got Diamond tokens for during the LGE, it increased instantly by 25% right after LGE. (Taking our above example, the price of Diamond tokens when added to Spirit will be 50k/10k = 5 FTM - so now you know how it works).
This is what makes LGE such a great event for transparent, community driven project launch.
Your Diamond tokens (proportional to the FTM you sent) will be available to be claimed starting 15 days from LGE (normally projects lock them over a period of 6 months to one year, but we wanted to let the community access the tokens quickly). So every 15 days, 25% of your allocation will be released, and by 60th day all your tokens will be available to you.