07 January, 2022
## What Is Parasol Finanacel (PSOL)?
Parasol Finance is the first-ever community governed IDO platform built on Solana with the needs of both projects and investors alike.
The key advantage as the ownership of Parasol tokens ($PSOL) gives a right of governance and voting on projects. Our governed platform will be an integral part of bringing new and existing projects and protocols into the Parasol ecosystem with the possibility to invest early. In the process, Parasol and the $PSOL token will become a foundation for enabling further development with partners, its own platform, and the ecosystem as a whole.
PSOL is the native utility token that is used for:
* Voting with the Token
* Governing with the Token: By using the DAO structure, PSOL holders can use Parasol Finance to participate in Governance decisions of the platform, such as deciding pools ratio on upcoming IDO, or voting on which IDO will be launched on Parasol
* Staking to participate in Parasol IDO
## How Many PSOL Coins Are There in Circulation?
Parasol Finance launches its platform on January 7, 2022, with 21 million PSOL tokens created at genesis. 3,045,000 $PSOL (14.50%) to Liquidity Providers: Distributed retroactively to existing liquidity providers, 3,150,000 $PSOL (15%) to Ecosystem Development, 105,000 $PSOL (0.50%) to Launch Rewards, 1,470,000 $PSOL (7%) to the Team, 4,410,000 $PSOL (21%) to the Marketing and Rewards, 4,410,000 $PSOL (21%) to the Private Sale and 4,410,000 $PSOL (21%) to the Public Sale.
## What Is A Token Sale?
Token sales are a crowdfunding tool used to build capital by startups or in order to launch a new project. In a token sale, a certain amount of new cryptocurrency created by the organizers is acquired by investors in exchange for other cryptocurrencies (e.g. Solana, USDC). Token sales can be also called IDOs (initial decentralized coin offerings).
## What Is Parasol Finance Token?
Parasol Finance (PSOL) is a token based on the SPL standard and Solana blockchain. Thus, this token is guaranteed to work properly in the ecosystem. It can be used in other decentralized programs without any problems. SPL standard ensures the token meets the security requirements that are common in the industry.
## PSOL Token Presale Overview
Minimum Purchase Threshold: 10 USDC
Maximum Purchase Threshold: 5000 USDC
Start Of The Presale: December 12, 2021
End Of The Presale: January 1, 2022
Soft Cap: 463,050 USDC (Phase 1), 595,350 USDC (Phase 2), 714,420 USDC (Phase 3)
Hard Cap: $5,264,700
## How To Participate In Parasol Token Presale?
During the presale of PSOL, 42% of released tokens (21,000,000 PSOL) will be available to the public and private for making an investment in exchange for USDC. In case there are tokens left unsold by the end of the presale, they will be transferred to the crowd sale.
The presale is going to last for 13 days in total.