YokaiSwap, the first and largest DEX on the Nervos Network, introduces a brand new IDO on March 27, 2023, at 2AM UTC. Our launchpad provides fundraising opportunities to early-stage crypto projects and allows investors to discover and support hand-picked projects directly on YokaiSwap.com.
We are very excited to announce YokaiSwap’s new IDO is launching on 27th March 2023 for NevDEX, a DeFi exchange platform built on Godwoken v1, an optimistic rollup solution on Nervos Network will be holding it’s token sale on Yokaiswap’s launchpad-https://www.yokaiswap.com/launchpad. NevDEX has the ecosystem on Godwoken with its Exchange, Yield Farming, NFT,etc.It offers advantages like:
- Low fee
- Fast transaction speed
- Non-custodial
- Accurate price
- No imperment loss.
IDO Details
The IDO will start on 27th March 2023 at 2 AM UTC, with 5% of $NDX tokens at the price of $0.004 per $NDX; the IDO will run for 48 hours, from 27th March 2023 at 2 AM UTC to 29 March 2023 at 2 AM UTC.
$NDX Token Info
- Raise Target: $20000
- Intial Dex Offering Allocation of $NDX: 5000000
- Project Valuation: 400,000 USD
- Total Supply: 100 Million
- IDO Participation Page: v1.yokaiswap.com/launchpad
- IDO Open Date & Time: 27th March 2023, 2 AM UTC
- IDO End Date & Time: 29th March 2023, 2 AM UTC
NevDEX Tokenomics
- Mining reserves — 60,000,000–60%
- Team — 20,000,000–20% (1 year fully locked locked, then linearly vested for 12 months)
- Treasury — 10,000,000–10% (Unlocked)
- IDO — 5,000,000–5% (Unlocked)
- Marketing — 3,000,000–3% (Unlocked)
- Airdrops — 2,000,000–2% (Unlocked)
Utility of NDX token:
- NDX token is a NevDEX native utility token that ensures the sustainable development of the platform and also provides additional utility.
- NDX holders get fee discounts on the platform.
- NDX holders can pair NDX with other tokens like NDX-CKB to incorporate into a yield farming.
- NDX holders can mint and trade NFT on the platform.
How to Participate in the NevDEX IDO?
There are 2 pools for the IDO: Community sale (20%) and public sale (80%)
Community Sale（YokaiSwap Tanuki NFT holders)
Allocation: $4000(20% of the sale allocation)
Prerequisite: You must own a YokaiSwap Tanuki NFT. (Please noted that NFTs listed on Yokai Dojo do not count as “owned by the user”. Once a NFT is listed, the NFT is temporary held/owned by the Yokai Dojo via smart contract initiated by the user.)
How will I be notified if I am on the whitelist?
A snapshot of NFT holders wallet will be made at 20th March 2am UTC, get prepared before then.We will publish a list of addresses as the whitelist on both Twitter and Discord so please make sure you follow them.
Public Sale
Allocation: $16000( 80% of the sale allocation)
Open to public
To participate, you will need to prepare your YOK/CKB LP Token, see this detailed guide on becoming a liquidity provider (LP) on Yokaiswap.com: https://medium.com/@yokaiswap/yokaiswap-launch-feature-guide-2b30fe23b148
Step by Step Guide
- Visit v1.yokaiswap.com/launchpad
- Commit your YOK/CKB LP tokens (see above to see how to obtain YOK/CKB LP tokens)
- Claim your $NDX tokens and receive leftover YOK/CKB LP tokens if any.
IDO — Overflow model
TLDR: Basically, the more YOK/CKB LP token you put in, the more $NDX you will get, and you’ll get back LP tokens that don’t get converted.
In the “Overflow” method, users can subscribe as much or as little as they want to the IDO, and their final allocation will be based on the amount of funds they put in as a percentage of all funds put in by other users at the time the sale ends. Users will receive any leftover funds when they claim their tokens after the sale.
It’s possible to receive no tokens at all: If you commit a very small amount of LP tokens compared to the total amount committed by others, your contribution may be such a small part of the total that you may not qualify for even a small portion of the tokens sold. In such a case, you will still be able to reclaim all the YOK/ CKB LP tokens you committed.
There are three scenarios that can happen. For simplicity sake, let’s assume the raise target is 10M $NDX and 1 $NDX is priced at 2 YOK/CKB LP is priced.
Scenario 1:
There is a total of 20M YOK/CKB LP committed in the pool, Alice committed 2M YOK/CKB, Alice will get 2/20 of the total NDX pool, which is 1M NDX. At the end of the auction, Alice will get 1M NDX and 0 YOK/CKB.
Scenario 2: (Overflow)
There is a total of 40M YOK/CKB committed in the pool, Alice committed 2M YOK/CKB, Alice will get 2/40 of the total NDX pool, which is 0.5M NDX. At the end of the auction, Alice will get 0.5M NDX and 1M YOK/CKB back.
Scenario 3: (Undersubscribed):
There is a total of 1M YOK/CKB committed in the pool, Alice committed 100K YOK/CKB. At the end of the auction, Alice will get 50K NDX and 0 CKB back.
What happens if the IDO doesn’t raise all the funds targeted?
The sale will proceed as normal, and all funds contributed will be converted at a fixed price. See the “undersubscribed” case above.
About YokaiSwap
YokaiSwap is a next-generation interoperable, decentralized trading platform and the first to come from the Nervos network. As a DEX (Decentralized Exchange), YokaiSwap will have AMM (Automated Market Maker) protocol integration which will be essential for priced assets to be algorithmically and efficiently swapped for users to smart contract transactions. YokaiSwap also has Yield Farming and Staking so you can earn passive income after trading.
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