Lobby
Lobbies serve the purpose of distributing Apollo tokens fairly between investors and preventing them from buying Apollo tokens at low or unfair rates while also helping swap.
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Lobbies serve the purpose of distributing Apollo tokens fairly between investors and preventing them from buying Apollo tokens at low or unfair rates while also helping swap.
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Olympus utilizes the lobby to distribute the tokens over a duration of 366 days instead of immediately adding them to a pool for investors to buy. This approach ensures a fair distribution of Apollo tokens and contributes to creating a fair and stable price for the token. Lobbies are events that last for a duration of 3 days. As their main purpose is to distribute tokens among users at a fair price, each lobby has a predetermined amount of Apollo tokens that are shared with participants at the end of the 3-day period.
Investors who take part in a Lobby by depositing Solana receive Apollo tokens when the invested Lobby is ended. The amount of Apollo tokens they receive is based on factors of their deposit amount, the total deposits made in the lobby, the total Apollo tokens allocated to the lobby, and their Lobby deposit day.
There are total of 122 Lobbies with duration of 3 days each, meaning that the Lobbies and token distribution will be expired in 366 days after launch.
Every Lobby has a fixed amount of Apollo tokens to distribute that start from 450 Million for the first Lobby (Lobby #1) and increases by a percentage for every next lobby and ends with 763 Million tokens for the last lobby (Lobby #122).
In total the Lobbies have 74 Billion tokens which they will distribute between Investors in a period of 366 days.
The formula for calculating the share of each investor from every lobby is as follow:
[Apollo Tokens in the Lobby / Total and final Lobby Entry ] * [ Investor Deposit After Tax]
It is worth mentioning that investors can participate in each lobby multiple times, and with each entry, their new entry gets added to their previous ones from the same Lobby.
To prevent investors from going all-in on the last day of the lobby, which could result in price jumps, and to encourage more balanced daily lobby entries, there is an additional factor associated with lobby entries known as the Entry Tax. This tax varies based on the day of entry. Specifically, the Entry Tax is 0% for entries on the first day of a lobby, and then increases to 1% and 2% for the next two days.
