Hermes (HMX) ILO details
What is an ILO?
Initial Liquidity Offering (ILO) is the sale of a token to provide the first liquidity for trading on a Decentralized Exchange (DEX). In a DEX there is no centralized authority so a mechanism called Automatic Market Maker (AMM) is used to facility trading and “swapping” between buyers and sellers. This is where an Initial Liquidity Offering (ILO) comes into the picture. In an ILO, a new token is offered to buyers who agree to contribute to the liquidity pool so the AMM can function.
Hermes Dual Initial Liquidity Offering
Hermes will have two ILOs that will each sell HMX simultaneously to bootstrap the initial trading of HMX on two different Decentralized Exchanges (Polkaswap & Uniswap). Here are the full details:
Available ILO Supply: 32,500,000 HMX
ILO Sale price: $0.02 = 1 HMX
Listing price: $0.022 = 1 HMX
Start of ILO: February 17 at 14:00 UTC
End of ILO: February 24 at 14:00 UTC
Accepted Cryptocurrencies: DAI
Soft cap: $250,000
Hard cap: $650,000
Ethereum ILO Contribution Information
Token Info
● Symbol: HMX
● Type: ERC20
● Decimals: 18
● ILO price: 0.02 DAI ($0.02) = 1 HMX
● Listing price on Uniswap: 0.022 DAI ($0.022) = 1 HMX
● Minimum buy-in per wallet: 50 DAI
● Maximum buy-in per wallet: 5,000 DAI
SORA ILO Contribution Information
Token Info
● Symbol: HMX
● Type: XOR-SS58
● Decimals: 18
● ILO price: 0.02 DAI ($0.02) = 1 HMX
● Listing price on Polkaswap: 0.022 DAI ($0.022) = 1 HMX
● Minimum buy-in per wallet: 50 DAI
● Maximum buy-in per wallet: 5,000 DAI
Few more tips
● Users will be able to participate in ILO through Hermes DAO official website hermes-dao.io starting from February 17 at 14:00 UTC
● HMX tokens will be sent back to the participating addresses in 24–48 hours after ILO is finished
● Do not send less than 50 DAI
● Do not send more than 5000 DAI
● Make sure you use your OWN address (which you have access to the private keys) and NOT an exchange address.
● Mistakes cannot be refunded
● Cap overflow will be refunded
● Funds sent after announcement that ILO is finished will not be refunded
● All unsold tokens will be transferred for LP rewards, staking rewards and Hermes DAO treasury wallet in 3:1:1 proportion
HMX token is already whitelisted on Polkaswap
