Motivation

Continuing from the last 'LEVX tokenomics' proposal, I propose to mint some tokens for its IDO on zkSync. By conducting the IDO, we could:

1. Improve our awareness in the soon-to-be-hyped zkSync ecosystem
2. Raise ETH to be used for LPing & DAO oprations(governed by multisig)
3. Boostrap the project by onboarding holders who would use their voting power to earn yield

Specification

Platform zkSync will release developer alpha in the end of the year and I believe zkSync ecosystem will start exploding since then. Due to the fact that we'll deploy on Ethereum & zkSync in the beginning, I think it's a no-brainer to hold an IDO on zkSync. There are three candidates:

• Impossible Finance: https://twitter.com/impossiblefi
• Mute.io: https://twitter.com/mute_io
• SpaceFi: https://twitter.com/spacefi_io

We'll choose the best platform that's expected to provide us the best result at that moment.

Schedule It is flexible due to the development release of zkSync, readiness of the IDO platform, but roughly it'll be January to February 2023.

Locking up & discount Buyers must lock up their tokens from 10 weeks to 2 years and get veOGZ in return right away. Depending on their lock up period, they'll get 0%-50% discount.

Amount & Price Since the eventual total supply of OGZ has been decided to be 300k in the last vote, we'll mint 93k additionally + reuse 7k in the treasury = 100k for the IDO.

It'll be an batch auction, with the minimum price between $1-$3, depending on the market sentiment at the time the IDO conducted. I considered a dutch auction as well but it'll work well in a bull market, not in this bearish one.

Maximum expected raised will be around $300k, which isn't a great amount but is enough for initial operation like LPing the pool, hiring 1-2 more talents, etc. Moreover, 10% of the newly minted OGZ will come into the treasury additionally after the launch.

Conclusion

Specification could change flexibly at the temperature of the market. If a bull market comes before the IDO, we could provide newly minted tokens at a higher price or change it into an ducth auction. We could mint additional 33k only or even 293k maybe if that's the best way to achieve goals stated in 'Motivation'.