BREWSKI Coin: Whitelist & Token Launch details

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UPDATE: Our whitelist is now open, details on application are here
otherwise continue reading to find out more on the token launch process.

Following on from our Introduction to BREWSKI Labs and BREWSKI Collectible NFTs: Art with real world use posts, we have some information about the Token Launch and Whitelist process.

BREWSKI Coin will be released to the public in three main phases:

1. Whitelist pre-sale
2. General Release Token Launch
3. Liquidity Pool Incentive Rewards

Whitelist pre-sale

A Whitelist pre-sale is the token sale conducted before the main token launch that is open for the public. It allows projects to reward active supporters and incentivize community participation towards the growth of the project. It is a list of registered and approved participants that are given exclusive access to the presale of the token at a discounted price.

When the BREWSKI Whitelist is announced, users must first register if they want to be considered for whitelisting, this will involve completing an application form and providing information such as Twitter and Telegram usernames along with a personal wallet address (information on how to create a wallet will be given in an upcoming article).

How do I get on the whitelist?

The whitelisting period will run for several weeks, during this period a selection of applicants that:

• help expand the community via social media
• support the project
• are active in Telegram chat

will be announced at random intervals via Twitter that their application is succesful and they have been added to the whitelist. A user can find out their current application status at any time by entering their wallet address in the Check Status field of the Whitelist webpage.

There will be also be some other ways to get on the list, announced at a later date. (hint: get Untappd 👀)

What is the whitelist token price?

Token sale price for whitelist community members will be $0.01 per token. The sale period will be announced in advance and run for a few days only.

If I am whitelisted, how do I buy the tokens?

The following steps will allow users to purchase tokens:

1. visit the whitelist section of our site and connect their wallet
2. decide how many tokens would like to be purchased
3. choose if payment will be made in USDC or ETHEREUM
4. submit the transaction to swap USDC or ETH for BREWSKI coin tokens
5. you will receive your BREWSKI tokens in your wallet immediately after the IDO General release sale (to prevent Whitelisted buyers dumping their discounted tokens immediately when the general release sale begins)

Note: only users who are whitelisted will be able to submit a transaction.

After the whitelist sale period is complete, the General Release Token Launch will begin.

General Release Token Launch

The Token Launch will be an Initial DEX Offering (IDO) in a Dutch Auction style.

IDO: An IDO uses a decentralized exchange (DEX) to facilitate the token sale. A crypto project provides their tokens to the DEX, users commit their funds through the platform, and the DEX completes the final distribution and transfer. These processes are automated and occur via smart contracts on the blockchain.

Dutch style auction: The auction starts with a very high price per token and decreases over a fixed period time. Bidders can place bids at anytime during the auction, the price bid and the current token value determine how many tokens are received. The auction continues with price reduction until either the allocated time is over, the allocated tokens are all bid or the reserve price is met.

There are a few good reasons for an IDO Dutch style auction launch that benefit users:

• No FOMO: FOMO (‘Fear of Missing Out’) is when people feel the need to jump in to an investment simply because they might miss a deal. With the IDO fundraising, anyone can participate in IDO no matter which timezone you’re in and due to the price starting high then lowering over time, it is counter intuitive to ‘get in early’ therefore making it fairer for all.
• ‘Whales’ and Bots aren’t incentivized: With a traditional auction method, as soon as the token sale goes public, ‘whale’ investors or bots get in extremely early, buy a large number of tokens for a low price then resell these tokens when price rises gaining a huge profit.
• Immediate liquidity and trading: Once purchased, the BREWSKI tokens are immediately available to users and therefore can be traded.

Where is the General Release Token Sale?

It will take place on Fjord Foundry platform, a link to the correct page will be posted well in advance on our website.

What price is the General Release Token Sale?

The token will be provided for sale at an initial price of $0.04 per token and will decrease in value over a 3 day period reducing until

• all allocated tokens are purchased
• or the 3 day period is over.

Whichever happens first.

Why have an IDO rather than a traditional token sale?

This has the advantage over a traditional auction by discouraging early investing whales to snap up all tokens at a very low price (bidding early gives certainty that you have the desired tokens but at a higher price), however, waiting for the price to drop creates uncertainty if there will be enough tokens remaining.

What happens after token launch?

Following token launch we will have 2 liquidity pools that holders can stake their tokens in and earn:
USDC-BREWSKI
ETH-BREWSKI

paying out 20% APR for 4 years (or until the BREWSKI Council vote to change it)

BREWSKI Beer Council will be released and all aspects of token management (incentives given, exchange listing funding, some brewery decisions etc ) will be handed over to it as well as the ability for brewers to propose questions and get a two way communication channel.

BREWSKI Collectible NFTs will be released giving people collectible digital artwork with real world value and rewards.

The BREWSKI NFT platform and marketplace will then be open for any brewery worldwide to launch their NFT rewards based collection on our platform.

Stay tuned

In the coming weeks, we will release a series of posts to further explain:

• the use cases for the BREWSKI coin
• Liquidity Pools and how they work
• the BREWSKI Beer Council
• other useful walkthroughs on the basics of how to setup a wallet, fund it and make transfers.

In the meantime, follow us on Twitter and come say Hi on Telegram with any questions you may have.