Fragbite

Fragbite Group has confirmed unit prices and supply range for the three steps of the public launch of $KOBAN. Prices in the two presale steps constitute a 15% and 10% discount respectively on the initial price for step 3 when $KOBAN is released for trade on public central exchanges. For each step, there is an allocated supply range of tokens which for the individual launch partner can either be fixed or un-fixed.

UNIT PRICES AND TIMELINE

STEP 1: COMMUNITY PRE-SALE
For more on step 1, including information on how Fragbite Group shareholders can participate, please see press release: LINK. You may also consult Lucky Kat social channels to stay updated on the community pre-sale.

STEP 2: PRESALE ON LAUNCHPADS
The presale on launchpads starts with global market leading launchpad DAO Maker on April 16. DAO Maker has a fixed supply corresponding to USD 400,000, meaning they will make 20,202,020 $KOBAN available for sale to their investment community. After DAO Maker, another two launchpads will follow in the pre-sale, out of which one is Republic, offering $KOBAN with the same unit price. The remaining two do not have a fixed supply, but this could change nearer to the date.

STEP 3: LAUNCH ON PUBLIC CENTRAL EXCHANGES
The launch on public central exchanges is planned to start shortly after the conclusion of step 2. Date will be confirmed together with our partners, and the exchanges that $KOBAN will be released onto will be announced in conjunction with the date. On the first day which is the Token Generation Event (“TGE”), $KOBAN will officially be released and in the market for public trade. The tokens allocated to be sold in step 3 will be released into the market gradually over the course of a number of days starting from TGE. How many tokens, how they are released and over how many days will be determined based on market conditions and other factors in close collaboration with our partners and advisors.

SUPPLY RANGE
Approximately 3-5% of the total supply of $KOBAN, corresponding to approximately 75,000,000 to 125,000,000 tokens, are expected to be made available and sold during the three steps of the launch. As mentioned above, DAO Maker has a fixed supply, other partners do not or have a target range in the contract. All launch partners have their individual setups.

REVENUE
The launch is expected to bring significant revenue. Given the complexity of each step, the three different price levels and the variations in supply which cannot be determined ahead of time, Fragbite Group will not communicate estimated revenue. For one of the three partners in step 2, the user terms allow for pre-sale purchases to be cancelled up to 3 days after TGE, meaning that the total sum generated from step 2 will not be known to the Company until that time. When Wagmi concludes step 3, and all third-party sales data has been submitted and collated, the Company will press release the total number of tokens sold and the total revenue earned from all three steps of the public launch will be published.

Depending on which platform $KOBAN tokens are purchased, the buyer can use different kinds of currencies or cryptocurrencies as payment. Prices are set in USD and revenue will be generated in blockchain-based stablecoins pegged to the US Dollar such as USDT and USDC. 

SUPPLY AND VESTING SCHEDULES
The total maximum supply of $KOBAN is 2 500 000 000 tokens (2.5 billion). All tokens will be minted on TGE, but they will not be in the market and open for trade on that day. Tokens purchased as part of private sales over the past three years will be released gradually over 45-48 months. Tokens used by Lucky Kat to support the ecosystem around $KOBAN will also be released gradually, as outlined in the Tokenomics document (LINK). Tokens purchased in Step 1 and Step 2 will be partially made available to the buyers on TGE, and partially released over a short time period. Vesting schedules for each launch partner will be published on their respective platforms. Tokens earned by players of the Lucky Kat games and their communities via so called airdrops will be made partially available on TGE and then released gradually. These varying vesting schedules are put in place to secure that tokens are released into the market at a steady pace to uphold a stable liquidity and price level over time.

Through early investment, approximately 24% of the supply has already been pre-purchased since 2022. After the launch, the supply remaining after private and public sales will be utilised for ecosystem development over the course of the coming years, as outlined in the Tokenomics document.

INITIAL CIRCULATING SUPPLY
Taken into consideration registered airdrops, the approximate number of tokens that Wagmi plan to distribute to exchanges for sale alongside the number of tokens that Wagmi will distribute to our market maker Amber Group to use for stabilising price, we estimate that the Initial Circulating Supply on TGE is 625,000,000 tokens. This means the number of tokens circulating in the market the second $KOBAN is minted and released.

FULLY DILUTED VALUE
Unit prices for steps 1 and 2 are discounted from a key metric called Fully Diluted Value (“FDV”). The FDV is set to USD 55,000,000 for the entire supply of $KOBAN which is what determines the target unit price for step 3. Earlier investments into $KOBAN since 2022 have been made at varying lower unit prices in order to support ecosystem development. Tokens once released into the market will be priced outside of Wagmis control. Hence the FDV does not indicate the average price of all $KOBAN tokens but sets the price for the TGE.

KEEP INFORMED VIA SOCIAL CHANNELS
There will be a lot of information relating to the $KOBAN launch in the coming weeks shared in the Lucky Kat channels, and also regularly in the Fragbite Group X channel. Our partners will make their own announcements, often standardised to their processes, and we need to adapt to them. Hence we suggest that those shareholders interested in following the launch pay attention to the Lucky Kat X channel, Panzerdogs and Cosmocadia Discord channels and the Fragbite Group X channel. Any material news or changes will be press released as per usual.