Founder Presale: MOONTIX

Overview

The Mooncake project generated its initial liquidity by selling a special token called a $MOONTIX. Holding a $MOONTIX entitled the holder's wallet to 11,000 Mooncakes at launch, plus an ongoing reflect of 0.0006% reflect of every transaction.
Today, holding a BSC $MOONTIX entitles the holding wallet to not only the regular reflect airdrops, but also early access to projects and bonuses across Mooncake's new chain launches & outside partnerships.
While there were 500 distinct $MOONTIX sold, they became a hot commodity with many aftermarket trades as people realized their value.

Valuation

MOONTIX Breakeven

Given that the 2% reflect is shared among 111,111,111 🥮 while the 0.3% Founder Reflect is shared among 500 MOONTIX, each MOONTIX gives the same amount of reflects as 33,333.3333 🥮. In an efficient market, one would assume that this would be the approx worth of a MOONTIX in terms of 🥮 tokens. However, this value does not take into consideration various factors such as liquidity discount, rarity premium, access into the Founder Forum, future airdrop value, etc.

Original Moontix Token Pricing

Assuming US$350 per $BNB, valuation is as follows:
  • Initial Listing Price: $0.00084
  • Founder Presale Price (ascribing 0 value to MOONTIX): $0.03182
    • Presale price is ~37.9x of listing price
  • Adjusted Founder Presale Price (assuming MOONTIX = 33,333.3333 🥮): $0.007895
    • Adjusted presale price is ~9.4x of listing price
However, one must take into consideration that the initial listing liquidity on PCS is only $70,000, which is extremely thin and takes minimal trading volume to initiate significant price action. In addition, one must also take into consideration the Mooncake Oven TVL, which serves as a proxy value for the tokens as well as a form of soft collateralization.
With the circulating supply being 50% of the total supply (55,555,555.5) being linked to the Oven TVL, we have:
  • Initial Oven TVL: $140,000
  • TVL per circulating token: $0.00252
    • Presale price of $0.03182 is ~12.6x of TVL per token
    • Adjusted presale price of $0.007895 is ~3.1x of TVL per token