AVALANCHE (AVAX) PUBLIC SALE
PUBLIC SALE INFO
If you have been following me for quite a while now, I have been reviewing Avalanche and its features. Just a recap; Avalanche is a breakthrough consensus protocol that is secure, decentralized, and achieves high performance–all while able to scale to thousands if not millions of participants. You can read more about that here.
Avalanche platform will be running on its native token which is AVAX. Here is brief information about AVAX.
- AVAX is the native token of the Avalanche platform.
- AVAX is a capped-supply token. Cap is 720M AVAX tokens, and 50% of those tokens (360M) will be on mainnet.
- AVAX serves as the base unit of account in the Avalanche network, provides the base security guarantees, pays for operations, and provides a wide suite of utility services.
- AVAX transaction fees are burned, increasing the scarcity of AVAX.
Token Sale information
The token sale will start on July 8th at 10:00 AM ET (UTC-4), and will run until July 22nd at 10:00 AM ET (UTC-4). Participants will be able to purchase tokens through three options, Public Sale Option A1, Public Sale Option A2 and Public Sale Option B. Public Sale Option A1 and Public Sale Option B borrow from the same pool of 12M tokens. On the other hand Public Sale Option A2 has its own dedicated pool of 5M tokens. Therefore, the total maximum number of tokens to be sold in the public sale is 17M tokens, or 4.72% of mainnet supply. The details of each option are as follows:
- Public Sale Option A1 — [Staking Round #2–1 Year Vesting]. This option allows participants to purchase tokens at $0.50/token, using a 1 year vesting schedule, with quarterly unlocking. This allocation follows the same terms as the Private Sale. The maximum check size is $25K USD.
- Public Sale Option A2 — [Staking Round #2–1.5 Year Vesting]. This option allows participants to purchase tokens at $0.50/token, using a 1.5 year vesting schedule, with quarterly unlocking. There is no maximum check size for this allocation.
- Public Sale Option B — [No Vesting, Fully Unlocked]. This option allows participants to purchase tokens at $0.85/token, with no lockups. In order to prevent concentration, incentivize distribution, and incentivize tokens for staking, this allocation will enforce a maximum check size of $5K USD.
All options will be offered simultaneously, and participants can purchase any combination of the options. Any unsold tokens from Public Sale Option A1 and Public Sale Option B will be added to Public Sale Option A2 on July 21st at 10 AM ET (UTC-4). After 24 hours, on July 22nd at 10 AM ET (UTC-4), any of the unsold tokens from Public Sale Option A2 will be absorbed by the Community and Developer Endowment.
As at the time of publishing this post, AVAX public sale will be starting in 4 days, 23 hours. Registration for the Avalanche (AVAX) public sale is now open.
Register now: buy.avax.network
Other information about the token sale, visit https://info.avax.network/