Fables Sets Oct. 20 Token Launch With 75 Million FABLES Cap
The Robinhood Chain decentralized exchange will launch its ve(3,3) mechanism alongside the token generation event.
Fables, a decentralized exchange on Robinhood Chain, will hold its FABLES token generation event Oct. 20, with initial circulation capped at 75 million tokens and its ve(3,3) mechanism launching alongside it.
The project will extend its points campaign through Oct. 19 after delays involving its legal structure. The campaign will continue at a rate of 250 million points per week.
From Oct. 12-19, participants must choose between receiving liquid FABLES or locking the tokens as veFABLES. Wallets that do not make a selection will lose eligibility to claim tokens.
Fables will conduct its PROLOGUE snapshot from Oct. 17-18. Every 40 PROLOGUE tokens will qualify for the redemption of at least one FABLES token.
The project has set a maximum supply of 1 billion FABLES. The allocation includes 500 million tokens for emissions, 120 million for the community, 80 million for the team, 80 million for the ecosystem, 75 million for strategic reserves, 50 million for grants, 40 million for operations, 30 million for liquidity and 25 million for PROLOGUE redemptions.
At the token generation event, circulation will include 25 million FABLES for PROLOGUE redemptions. Up to 45 million additional tokens will come from points claims, while the initial liquidity pool will contain 5 million to 15 million tokens, with the combined amount capped at 50 million.
Team tokens will not circulate at the launch. Of the 80 million allocated to the team, 40 million will be permanently locked as veFABLES. The remaining 40 million will have a six-month lockup and vest over two years.
