Skyward Finance is a decentralized platform to enable fair token distribution and price discovery for projects built on NEAR Protocol.
Historically, projects conducted initial token distribution through centralized auctions, DEX offerings, and fixed-cost sales which were unfair by limiting participation due to geo-location, being vulnerable to front-running bots, sybil attacks, multi-account registration, and unclear price discovery. Private sales and venture capital limited the ability of the general public from being able to access tokens from day zero by distributing large amounts of tokens at a low price, which gives advantage to the private parties and well-connected participants. It also hurts project founders who are strapped for resources at the early stages of their entrepreneurial journey and don’t have a sophisticated network to get access to initial capital. It’s the community that drives project distribution and success, so we believe it should be trivial to enable its participation from the very beginning.
Skyward Finance’s goal is to provide mechanisms for initial price discovery and token distribution through a streaming time-based auctions that are accessible to the general public in a decentralized way, while being resistant to front-running, price manipulations, and sybil attacks. Skyward Finance will issue a token that allows the community to become the part of the platform and get the corresponding part of the revenue.