Hi Aqualiens, today we are excited to announce the sale of the pAQL token on Hive Engine!

Table of Contents

• What is Aqualis DAO?
• What is the utility of Aqualis Token (AQL)?
• What is a proxy token (pAQL)?
• Rationale of sale
• Aqualis' milestones
• Token sale information
• Usage of funds
• Long term plan on the Hive Blockchain
• Terms and Conditions

What is Aqualis DAO and Aqualis Token (AQL)?

Aqualis DAO is a DeFi protocol founded by long-time Splinterlands supporter @cryptoeater.

Since commencing development in 2022, Aqualis DAO has continued to solidify its presence within the Splinterlands community. This includes the establishment of a top-20 guild, launched from the ground up, the acquisition of a Splinterlands marketplace offering a generous 2.8% cashback (with 100% of revenue contributed to liquidity pools), ongoing support for their Splinterlands community through pack and DEC giveaways, and sponsorship of tournaments.

At its core, Aqualis operates as a DeFi protocol with a central mission to revolutionize capital efficiency within the DeFi landscape. This can be achieved through a groundbreaking asset multi-utilization algorithm designed to minimize the under-utilization of assets. This enhanced capital efficiency empowers Aqualis to offer the lowest fees in the DeFi realm, all the while ensuring substantial organic rewards for both stablecoin and cryptocurrency depositors without the need to heavily rely on an inflationary token model to sustain depositors.

What is the Utility of the Aqualis Token (AQL)?

AQL is the governance token of the Aqualis DAO. Users will be able to stake AQL for Aqualis Power, allowing users to vote on proposals and earn a share of the AP Rewards Pool. AQL tokens will also be burned on a weekly basis once the protocol is launched on mainnet through The Burn Budget. Future products introduced under the Aqualis brand will be exclusively powered by AQL or seamlessly integrate AQL in various ways, opening up exciting possibilities and utilities for the token.

For more information about the protocol, please join our Discord.

What is a Proxy Token (pAQL)?

A proxy token is essentially an IOU in the form of a token that may be exchanged 1 to 1 for the real token upon the Aqualis public launch.

Rationale of Sale

The Aqualis DAO has been entirely self-funded since early 2022. With a fully operational PoC, we are now seeking additional funding to upgrade this to an MVP. Once the MVP is complete, we will invest in thorough auditing and robust marketing to ensure a successful public debut.

Further funds will also been earmarked for a full overhaul of our Splinterlands Marketplace (70% fee rebate).

Aqualis' Development Milestones

Since early 2022, Aqualis has achieved the following milestones: * built our core proprietary stablecoin AMM smart contracts, * forked and integrated Aave v3 into proprietary AMM, * built our own custom staking solutions with custom "Aqualis Power" implementation * built our own vesting smart contracts with linear vesting every second to prevent massive cliff in token distribution * integrated lending and staking rewards, * developed a custom decentralized OTC trading and escrow protocol (future launch), * and lastly acquired our own Splinterlands NFT marketplace!

Beyond these technical developments, we have also established: * a treasury of over $68k in stablecoins, * a top 20 Splinterlands guild, * a growing Discord community and * a large circle of trusted advisors and partners, including @yabapmatt

Token Sale Information

• Total tokens to be sold: 797,713
• Price per token: 0.34 HIVE (~$0.10)
• Tokens are transferable at the point of purchase
• Tokens are redeemable for AQL at public launch
• Tokens may be repriced if Hive price fluctuates too much (5% either side)
• The token sale will continue indefinitely until all tokens are sold, or if the community agrees to prematurely end the sale
• Full Tokenomics

EDIT Instead of directly converting 80% of the HIVE into USDC, which would typically involve using a centralized exchange to minimize fees, Aqualis DAO will purchase DECs using SWAP.HIVE as a means to mitigate the inherent volatility of HIVE. Subsequently, these DECs will be transitioned onto the Ethereum (ETH) network via the Terablock bridging process. Once on the ETH network, they will be exchanged back into USDC, and the entire process will be executed via on-chain transactions, enhancing transparency and decentralization.

Usage of Funds

• 10% of funds will remain as HIVE
• 5% of funds will be converted to SPS
• 5% of funds will be converted to DEC
• 80% of funds will be converted to USDC and deposited in the Aqualis operations budget multi-sig wallet
• Current Aqualis DAO Treasury info

The remaining HIVE, SPS and DEC will be added to swap.hive/dec and swap.hive/sps liquidity pools remaining under the operations budget.

Long Term Plan on Hive

At its core, Aqualis DAO is a DeFi protocol designed to operate on a (TBD) EVM chain, with a primary objective of reshaping capital efficiency through our versatile liquidity pools. While we're forging ahead in the broader DeFi space, we remain deeply rooted in the Splinterlands and Hive community. We are committed to this connection through ongoing investments in Splinterlands, seamless integrations of Hive and Splinterlands assets within our protocol, and an exciting plan to bridge the AQL governance token onto the Hive blockchain.

For More Information

Join our Discord Follow our Twitter Visit Aqualis.io Read our docs

Terms and Conditions

These terms of use constitute a legally binding agreement between you and us (as defined below). Please read these terms carefully to ensure that you understand and agree to all aspects of these terms before participating in any Token Purchase Activity (as defined below) or using the AqualisDAO Assets using any part of the Services (as defined below).

These terms and conditions, together with any documents and additional terms they expressly incorporate by reference, which includes any other terms and conditions or other agreement that Aqualis Foundation Limited (“AqualisDAO,” “we,” “us” and “our”) posts publicly or makes available to a person who engages in Token Purchase Activity (as defined below), acquiror of any AQL utility token (and pAQL as its proxy for AQL utility tokens) (hereinafter “AQL Governance Utility Token”) including any subsequent acquiror of any AQL Governance Utility Token, a user of the AqualisDAO platform and/or the Services (as defined below), you or the company or other legal entity you represent (collectively “you” or “your”) (collectively, these “terms”), are entered into between AqualisDAO and you concerning the AQL Governance Utility Token, any Token Purchase Activity, your use of, and access to, AqualisDAO platform, AqualisDAO websites, Hive Engine websites, web applications; mobile applications; network and operations; and all associated sites linked thereto by AqualisDAO or its affiliates and Services (together with any materials and services available therein, and successor website(s) or application(s)) (collectively, "AqualisDAO Assets"). You hereby acknowledge and agree that AqualisDAO may change these terms and conditions at any time, at our sole discretion without any prior notice to you. Any changes will be effective immediately upon posting on the website. Your continued use of the AqualisDAO Assets will constitute acceptance of any new or modified terms.

You represent and warrant that you will not use the AqualisDAO Assets if the laws applicable to you or due to your country of residency and/or citizenship prohibit you from doing so in accordance with these terms. Any participation in, involvement in, enquiry made with respect to, receipt of information in respect of, request to purchase, and/or purchase of AQL Governance Utility Tokens, including pursuant to the AqualisDAO whitelist sale, pre-token sale, token sale and associated contracts (each a "Token Purchase Activity" and collectively the "Token Purchase Activities"), is not allowed by (i) persons under the age of 18 or (ii) persons or entities who reside in, or are citizens of, are located in, are incorporated in, or have a registered office in the United States of America (collectively, “US Persons”) or any place in which it would not be lawful to engage in any Token Purchase Activity ("Restricted Territory"), (any such person or entity from the United States of America or a Restricted Territory, being a “Restricted Person”). No action has been taken to register or qualify the AQL Governance Utility Token or Token Purchase Activity in any jurisdiction and you represent and warrant that you are a person who can access and use the AqualisDAO Assets and to who can engage in Token Purchase Activity without any requirement to register or qualify the AQL Governance Utility Token or any Token Purchase Activity, in the place where you reside or are located in and in the place where any person on whose behalf you act resides or is located in. If you are a Restricted Person, do not attempt to use the AqualisDAO Assets or participate in any Token Purchase Activity. Use of a virtual private network (“VPN”) to circumvent the restrictions set forth herein is prohibited. Pursuant to applicable laws and regulations, AqualisDAO maintains the right to select its markets and jurisdictions to operate and may restrict or deny the use of the site or any part thereof, in certain countries at its discretion. Aqualis Foundation Limited is a registered company in the British Virgin Islands ("BVI") and unless otherwise stated, the laws of the BVI govern the use and access to the AqualisDAO Assets and the Token Purchase Activities. You hereby irrevocably submit to the non-exclusive jurisdiction of the courts of the BVI. You hereby irrevocably waive any objection to the venue of any legal process on the basis that the process has been brought in an inconvenient forum.

Pre-token sale Terms & Conditions

Applicability: 1. pAQL is a Hive Engine token which serves as a proxy for AQL Governance Utility Tokens while the main AQL Governance Utility Token undergoes development. pAQL’s only utility is being swapped at a 1:1 ratio for the AQL Governance Utility Tokens at a token generation event ("TGE"), whenever this may be. There is no guarantee that a TGE will ultimately occur.

Services:

2. AqualisDAO utilizes a decentralised autonomous organization ("DAO") approach which will be controlled by the AQL Governance Utility Token. Over time the holders of the AQL Governance Utility Tokens will have the ability to participate in exclusive governance functions relating to the AqualisDAO platform. AqualisDAO will publicly announce these functionalities as and when they go live. Over time the holders of the AQL Governance Utility Token will have the ability to stake their AQL Governance Utility Token within the AqualisDAO platform. AqualisDAO will publicly announce the staking functionality as and when they go live.
3. AqualisDAO is an ecosystem of defi products that will include a stablecoin only autonomous market maker or "AMM" with no price impact, a time-weighted compounding reward system (staking), fully integrated lending capabilities, cross chain stablecoin trading and lending and other capabilities.
4. Initially based on an EVM platform (TBD), it also plans to provide cross-chain functionality in future releases.
5. Hive blockchain addresses enable participation/contribution in the AqualisDAO pre-token sale or other Token Purchase Activity.
6. AqualisDAO and the AQL Governance Utility Token do not have the legal qualification as a security since it does not give any rights on dividends or interest, any ownership right or stake, share or equivalent rights, any right to receive future revenue shares relating to AqualisDAO, and does not provide any expectation of profits or any expectation of profits to be derived from the efforts of others. AQL Governance Utility Token, therefore, is not a share and does not give any right to participate in the general meetings of AqualisDAO. The AQL Governance Utility Token is final and non-refundable. The acquirement and use of the AQL Governance Utility Token shall not be done for speculative usage.
7. The AQL Governance Utility Token can be purchased using Hive addresses during the pre-token sale from Hive Engine.
8. AqualisDAO gives no warranties that the AQL Governance Utility Token will be exchangeable on specific platforms or that they shall remain exchangeable on exchange platforms or that they would be exchangeable on other exchanges.
9. No documents or any written information (including information accessed on or through the AqualisDAO Assets) relating to any Token Purchase Activity, AqualisDAO Assets and/or AQL Governance Utility Token ("AQL Information") constitute investment advice, a recommendation or opinion relating to the relevant Token Purchase Activity or AQL Governance Utility Token. AqualisDAO gives no guarantees as to the value of any of the AQL Governance Utility Token and explicitly warns users that there is no reason to believe that AQL Governance Utility Token will increase in value. By engaging in any Token Purchase Activity and acquiring an AQL Governance Utility Token you expressly acknowledge and understand the risks associated with those actions including that the AQL Governance Utility Token may decrease in value or lose their value entirely. You hereby acknowledge and agree that no AQL Information provides any expectation of profits or any expectation of profits to be derived from the efforts of others. You represent and warrant, that you are acquiring AQL Governance Utility Tokens for your own personal use and for your personal utility and not for investment or financial purposes. You also represent and warrant that you do not consider AqualisDAO and the AQL Governance Utility Token as a security.
10. AQL Governance Utility Tokens are unregulated. AqualisDAO is not a financial institution and is currently not under supervision of any financial supervisory authority. AqualisDAO does not provide any licensed financial services, such as investment services, fund management or investment advice. None of the information or analysis presented herein or in any AQL Information are intended to form the basis for any investment decision, no specific recommendations are intended, and AqualisDAO, its website and AQL Governance Utility Token do not offer, are not and shall not be construed as investment or financial products. In the event of any regulatory changes that may impact the AQL Governance Utility Token, AqualisDAO reserves the right to amend its Services, the AqualisDAO Assets and the AQL Governance Utility Token.

Pre-token distribution

11. The pre-token sale distribution is not a public offering of equity or debt and consequently does not fall under the securities or any prospectus regulation. You can make contribution into a smart contract system in ether (or acceptable digital assets) and receive AQL Governance Utility Token in exchange. AqualisDAO reserves the right to amend acceptable digital asset or fiat at any time, based on its sole discretion. All acquirement of AQL Governance Utility Token shall be publicly accessible via the Hive blockchain browser or applicable networks.

Knowledge required

12. When purchasing AQL Governance Utility Tokens, you expressly acknowledge and represent that you have carefully reviewed the terms and conditions and fully understand the risks, costs and benefits associated with the acquisition of the AQL Governance Utility Token as indicated in the terms and conditions.
13. In acquiring AQL Governance Utility Tokens pursuant to the pre-token sale, you should ensure that you understand and have significant experience in cryptocurrencies, blockchain systems and services, and that you fully understand the risks associated with the pre-token sale as well as the mechanism related to the use and custody of cryptocurrencies.
14. AqualisDAO shall not be responsible for any loss of AQL Governance Utility Token or situations making it impossible to access the AQL Governance Utility Token, which may result in any actions or omissions of the future user or any person undertaking to acquire AQL Governance Utility Token.
15. AqualisDAO is not a provider of (a) exchange services between virtual currency and fiat currency; (b) wallet or custodial services of credentials necessary to access virtual currencies; or (c) cryptocurrency mining services. You expressly agree and acknowledge that anytime throughout the duration of these terms, AQL Governance Utility Token may require material, technical, commercial or any other changes and you understand that an upgrade or modification of the AQL Governance Utility Token may be required. If you decide not to participate in such upgrade, you acknowledge and agree that non- upgraded AQL Governance Utility Tokens may lose their functionality in full and that they may no longer use the AQL Governance Utility Token.

Risks

16. Development failure or abortion. Acquiring and storing AQL Governance Utility Tokens involves various risks, in particular that AqualisDAO may not be able to launch some operations and continue developing its platform or community. Therefore, and prior to acquiring AQL Governance Utility Token, you should carefully consider the risks, costs, and benefits of acquiring AQL Governance Utility Tokens within the pre-token sale, and, if necessary, obtain independent advice in this regard. Any interested person who is not in the position to accept nor to understand the risks associated with the activity (incl. the risks related to the non-development of AqualisDAO Assets) or any other risks as indicated in the terms and conditions, should not acquire AQL Governance Utility Token, at this stage or later.
17. Legal risk concerning security regulation. There is a risk that in some jurisdictions AQL Governance Utility Token might be considered as a security, now or in the future. AqualisDAO does not give warranties or guarantees that AQL Governance Utility Tokens are not a security in all jurisdictions. Each user of an AQL Governance Utility Token shall bear its own legal or financial consequences of an AQL Governance Utility Token being considered a security in their respective jurisdiction. The legal ability of AqualisDAO to provide AQL Governance Utility Token in some jurisdictions may be eliminated by future regulation. In the event of any high degree of certainty that AQL Governance Utility Token are not legal in certain jurisdictions, AqualisDAO will, based on its sole discretion, either: (a) cease operations in that jurisdiction, or (b) adjust AQL Governance Utility Token in a way to comply with the regulations should that be possible and viable. It is your obligation to check if the acquisition and disposal of AQL Governance Utility Token is legal in your jur