IAO — Initial Athlete Offerings

Turning Athletes into ASSETS (The last mile)

Term #5 in the MetaSports Dictionary → here

-{ IAO {I}nitial-{A}thlete-{O}ffering }-

“IAO” is an acronym for the term Initial — Athlete — Offering.

An adaptation of traditional IPO’s or the newer ICO’s, an IAO is a framework for bringing individuals to trading markets as assets. The purpose of an Initial — Athlete — Offering is to bootstrap athletically inclined individuals with capital to help them pursue a lifestyle that will allows them to focus on maximize their performance. As in the case with its predecessor public-offering kin, the IAO’s will be used for established pre-market valuations for each asset & building the genesis liquidity for listing.

When Does an IAO Happen?

An Initial-Athlete-Offering is intended to be a cordial, ceremonial process that happens only IF a user decides to complete the “Go-To-Market” documentation, satisfies all of the criteria set forth in the IAO contract, & is vetted by the active Astir Committee.

What are the Requirements to host an IAO?

  • Stake a minimum of >1,111 $BITA tokens
  • Stake a minimum of >1,111 $BITA tokens for at least 14 days
  • Complete the Social Sport Log “______” ← Will be linked at a later date.
  • Accommodation of {networks fees + 0.01eth }
  • 3 approvals from the Astir Committee
  • Must not have any *frozen stake

How does an Athlete get approval from the Astir Committee?

Eventually the Committee will be a publicly owned good that will be accessible through the Astir DAO & other BitAstir meta-forums. However, initially the committee for vetting must be put in place, this committee will be aggregating via Medium Posts/ Twitter Discourse & community room for approvals.

How Do Athletes prove their levels of commitment?

Before an IAO is opened, the contending athlete will attempt to prove their commitment to their public pools through 2 modules; first they will be staking no less than > 1,111 $BITA tokens; upon execution of the IAO initiation, the Athletes staked tokens will be pulled & bonded to their NFT (distributed equally by proportion) {ex, If User conducts IAO with 10,000 shares -> keeping 10% as reserve-> then 9,000 shares that are publicly owned will be evenly given 0.09 $BITA tokens per Athlete-NFT they hold.} Second, IAO’s happen fully ON_CHAIN, & in order to execute this the athletes will each have to be accommodating the (networks fees + 0.01eth) for execution. The 0.01eth will be distributed to the treasury & allocated (10/20/50/20)
-10% $BITA token’s liquidity
-20% NFT Floor Control
-50% Reserve backstop
-20% fluid collateral

Can an IAO Fail?

In short, Yes. While BitAstir has ardently worked to protect & optimize the IAO economic cycle; ultimately the Hosting Athlete will have to specify the “soft/hard” cap parameters & define the back-stop scenarios.

What happens if an IAO Fails?

If an IAO fails, the collected funding will be returned to the IAO participants & the Athlete will have their $BITA stake *frozen for 14 days.

How many times is a user Allowed to attempt IAO?

A User can attempt to IAO as many times as they want; with an absolute minimum time in between trials of 14 days (due to to the prior frozen $BITA).

This document was published as means to help promulgate information during BtiAstir’s transitory phase; thus technical verbiage & excessively technical elements have been minimized for comprehension. It is by no means exhaustive & should you require more information; A more in Depth Technical Document exploring the nuances of the “Infusion” mechanism for BitAstir will be published at a later date & made available through a Link → Here ←

For any other information that may be requested, Please refer to the most recent version of the → Official WhitePaper ← There we will explore of the evolving market dynamics, greater system application to human potential & so on.

Be sure to stop by the site (as we prepare more presents) & follow us on social media to stay tuned in for more exciting breakthroughs from DSports.

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Sports-DAO ⛹️‍♂️ Building the largest network of 🤾‍♂️ Athletes & Connecting them with with the world 🏌️‍♀️ Turning🤸‍♂️ Athletes into Assets 🏆 #SportFI