Bootstrapping

The MegaStrategy bootstrapping event raises wrapped ETH (wETH) to build the initial treasury of the protocol. This is structured as a fixed-price sale, powered by the Axis protocol.

At the end of the event, the following takes place:

• successful buyers can claim their MGST tokens
• unsuccessful buyers can claim their wETH deposit
• any unsold MGST tokens are automatically burned by the callback contract
• the callback contract deposits 10% of the wETH (and a corresponding amount of MGST) into a Uniswap V3 pool
• the remaining wETH proceeds are transferred to the TRSRY module

This diagram illustrates the bootstrapping process:

flowchart TD
    B[Buyers]

    subgraph Protocol
        P[Protocol MS]
        T[TRSRY]
    end

    subgraph Axis["Axis"]
        A[AuctionHouse]
        C[Callback Contract]
    end

    U[UniswapV3 wETH-MGST]

    P -->|1\. Provides MGST| A
    B -->|2\. Provide wETH| A
    A -->|3\. At settlement:<br />wETH + MGST| C
    C -->|4\. Deposit 10% wETH + MGST<br />as liquidity| U
    C -->|5\. Remaining wETH| T
    A -->|6\. Claim MGST| B

    style Protocol fill:#4169e1,stroke:#333
    style Axis fill:#b7410e,stroke:#333