Feb 25th, 2022: ILO Updates
Dear UniCrypt community & developers, we’re coming with an update of the ILO (initial liquidity offerings).
Currently, our ILOs are divided into 3 rounds. Below, the NEW behaviour & the changes are described.
NEW Round 0️⃣ (ILOs created from Feb 25th 2022)
✅Round 0 start date is selected ONCE at the ILO creation by the token developer. It allows defining a custom date for people to participate in 2 different ways, described below.
✅If there is no date selected by the ILO creator, Round 0 default start date is taking place 2 hours after the ILO creation.
Once round 0 starts :
🦄 ▶️️20%◀️ of the ILO hard cap can be reserved by $UNCL reservations (2 UNCL burnt, get a guaranteed allocation).After reserving, users are required to purchase the their token allocation during round 0.
📑▶️ 79%◀️ of the ILO hard cap can be purchased by whitelisted users having a guaranteed slot. Users contribution shall still happen during round 0, after that (round 1) the slots are not guaranteed anymore.
NEW Round 1️⃣
This round is ▶️not reserved anymore◀️ for $UNCX/$UNCL holders.
It is OPENED FOR EVERYONE.
Users do not have anymore requirements and can participate with a first-come-first-serve model directly.
As soon as the ILO hits the hard cap, the token goes to the market. If it doesn’t hit the hard cap after round 1 (which lasts 2 hours) goes to the round 2, which is exactly the same as round 1, open for everyone.
As soon as the round 2 reaches its end date (and the soft cap is met) or if the ILO touches the hard cap, the token goes to the market.
💡If the soft cap of an ILO is not met, the ILO is failing and users can claim their participation.
- This new ILO model will only impact ILOs created AFTER the update
- Users that wanted to participate into ‘hyped’ ILOs but did not have the capital to hold $UNCX or $UNCL can now enter the raises
- The utility of the $UNCX and $UNCL tokens aren’t being impacted in a negative way, we have additional use cases coming for the tokens, e.g. staking $UNCX to yield $USDC and $UNCL (article here)
Have a wonderful day everyone!
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