SynAssets Consensus,
The IDO of SynAssets is near! We’re sorry to keep you waiting and we really appreciate your patience.
Welcome back to SynAssets! We are happy to announce more details about the IDO Whitelists as our motto is to make everything transparent. As the community grows, getting whitelisted may become increasingly difficult. This means that those who join early have an advantage.
We now have received 600+ ambassador applications, 20 winner amongst the ambassadors will be announced.We decided to go the extra mile to make the IDO happen in a safe and fair manner. Now,all early consensus is busy testing the IDO contract. Next week,we will invite ambassadors to test the IDO contract,and all community members will finally join the IDO testnet.
We will invite professional auditors to conduct security audits, covering all smart contracts deployed at the time, including Treasury, pledge, bond, and consensus network.
Since SynAssets is a community-driven project, we always value the opinions of our community members. We decided that SynAssets would not raise any funds from VCs, and rather let SAT be a protocol totally owned by the community.
Tokenomics
SAT is the platform token for the entire SynAssets ecology. The open and fair IDO is adopted so that there are no pre-mining and team reservations. All the consensus participants can have opportunities to obtain SAT tokens through the whitelist,token utility will be determined by DAO governance.
80% Initial funds from IDO will enter into the treasury and distribute to 10 new sAsset.
SAT token holders are entitled to IDO, governance, etc. of all sAssets Projects in the ecology. Moreover, the unlimited deflation mechanism is applicable to them.
More info:https://doc.synassets.finance/introduction/token-economic-model
SAT IDO Plan
1. Lockups
There is no lockup for IDO tokens.
2. Why IDO?
SAT is a fully community-backed project, and so we are not raising any funds from VCs.
That means we will use 80% of the total funds raised to back SAT tokens:
IDO of SAT tokens are divided into OG Market and Public Market. Only whitelisted holders can participate in OG Market; while participants in Public Market don’t have to hold the whitelist but have to pay a higher price. After the close of the two markets, SAT tokens will not be issued any more. 80% of the total raised tokens will be put into the liquidity pool, and 20% used for the market of early consensus participants as well as development fees.
Whitelist Round — The OG Market
1.Specific Details:
Participants: 1000 whitelisted addresses.
Amount: 6,000,000 SAT tokens max.
Price per Token: 0.15–0.2 USDC
Allocation: 1000 USDC
Timeline:2am,14th,Feb-2am,15th,Feb(UTC)
SAT price :
y:Price per SAT Token
x: SAT amount(sold in the pool)
2.How to get whitelists
- Ambassadors whitelists
Total IDO whitelists amount for ambassadors:400
Total IDO whitelists amount for candidates:150
Noted:20 winners get 400 whitelists due to everyone contributing.
Candidates who failed to become ambassadors get 150 whitelists due to everyone contributing.
=> Now,only assessment ambassadors have the whitelists,everyone who wants to get whitelisted can buy from the Ambassadors ,the whitelist price is determined by ambassadors.Or join the next task,(we will announce the ambassadors whitelist on twitter and discord).
- Other 450 whitelists
=> 50 whitelists for our OG members: Twitter Followers randomly.
=> 100 whitelists for members who boost the Discord and stay active.
=> 200 whitelists for members with the most real invites in our Discord. We can detect bot invites and the bot inviters, they will be disqualified.
=> 100 whitelists for IDO test, who help us find bugs ,or find updates,etc.
If the maximum allocation amount of whitelists in one category is not reached, the SynAssets reserves the right to allocate the unused amount of whitelist spots to another category. While these allocations may change, the maximum number of whitelisted members will be 1000. The SynAssets will not allow more whitelisted members.
Public Round — The Public Market
1.Specific Details:
Participants: Everyone
Amount: 9,000,000 SAT tokens max.
Price per Token: 0.2–0.35 USDC
MAX Allocation: 500–10,000 USDC
Timeline:Stay tuned
2. How does it work?
Everyone can participate in this round to buy SAT tokens. The amount of your deposited USDC equates to how much you are willing to pay for SAT tokens. A total of 9,000,000 SAT tokens will be sold during this round, the price of SAT tokens will be determined by the amount of SAT in the pool.
SAT price :
y:Price per SAT Token
x: SAT amount(sold in the pool)
Summary
The IDO is just the beginning of SynAssets. We will continue to work hard to serve SynAssets as best we can. We will create a global synthetic assets exchange in the blockchain world. By bringing the consensus of all humankind together, such exchanges will realize high liquidity, no liquidation risk,total decentralization, and anchoring with physical assets (including but not limited to stocks and gold).
Thanks for your support,
SynAssets
Contact
Website:https://www.synassets.finance/
Twitter:https://twitter.com/SynAssets
Discord:https://discord.gg/BzVUJJszaU
Medium:https://medium.com/@SynAssets
Whitepaper:https://doc.synassets.finance/
