Nitro Cartel's $TROVE Token Public Sale on Feb. 17th Hosted on Camelot

Nitro Cartel will launch the token public sale for Arbitrove Protocol, its governance token $TROVE will be publicly available for purchase on February 17th, 2023, hosted on Camelot’s launchpad. Nitro Cartel is an Arbitrum-focused DAO, Arbitrove is its first product.

$TROVE is the governance token for the Arbitrove Protocol, a yield-bearing index and strategy vault protocol natively built on the Arbitrum networt, with its first index ALP being a basket of selected blue-chip tokens such as GMX, MAGIC, and GRAIL, designed to generate yield for users.

70% of the total $TROVE supply that will ever exist will be in the form of Escrowed TROVE (esTROVE), which can be staked for protocol revenue sharing or vested to become $TROVE through a 1-year linear vesting starting in September 2023. The token allocation of the team will also be in the form of esTROVE to align their incentives with those of users and passport holders.

The public sale will include 20% of the total $TROVE supply, with the starting price at $0.0025 per $TROVE and a fully diluted valuation of $12.5 million. The sale will be conducted using a fair launch, price discovery model, until the hard cap of $2.5 million is reached.