How to participate Koge’s IDO (Initial DODO Offering)
BNB48 Club® is the first ever decentralized autonomous organization (DAO) on Binance’s Binance Smart Chain (BSC), and Koge is the DAO’s native governance token. For more information on BNB48 Club® and the Koge token, please refer to our previous Medium article.
This article will explain in detail how Koge tokens will be issued via initial DODO offering (IDO) on the DODO Exchange platform, one of the most capital-efficient decentralized exchanges offering low-slippage swaps.
Information about Koge’s IDO
Date and Time: September 24, 2020 8:00PM UTC+8
Offering Price: 0.03 BNB
IDO Tokens: 2,250,000 Koge
Hard Cap: 75,000 BNB
IDO Duration: 7 days (168 hours) after 25,000 BNB have been staked OR when the hard cap has been reached
IDO Links: https://ido.koge.io or http://koge-ido.dodoex.io/
Additional Notes:
- Koge’s IDO will be leveraging DODO Exchange’s innovative proactive market maker (PMM) algorithm, which will increase the Koge price as the purchased amount increases. The IDO will end when the 75,000 BNB hard cap has been reached, or when 7 days (168 hours) have elapsed after the 25,000 BNB soft cap has been reached, whichever comes first. All unsold Koge tokens will be burnt.
- After the end of Koge’s IDO, Koge-BNB initial liquidity pools will be set up on DODO (built on BSC). BNB48 Club® will supply 750,000 Koge (DODO enables single-token exposure for liquidity providers) in initial liquidity and set the initial price to be the price at the end of Koge’s IDO.This pool will be temporary and liquidity providing will be disabled. Koge’s liquidity in the pools (i.e. Koge and BNB tokens in the liquidity pools) will be withdrawn in the future. All Koge tokens withdrawn will be burnt and all BNB tokens withdrawn in excess of the soft cap (25,000 BNB) will be used to buy back and burn additional Koge tokens.
- Then a full-functional pool will set up for trading, details will be announced in the future.
How to Participate in Koge’s IDO
We recommend using MetaMask or Math Wallet to participate in Koge’s IDO. As for how to configure MetaMask, please refer to Binance Smart Chain’s tutorial here. Instructions on how to convert BEP-2 BNB to BEP-20 BNB are available here.
DODO Exchange’s IDO interface is quite intuitive and will look like this. You can find the BNB balance in your wallet, as well as Koge’s price denominated in BNB.
Input the amount of Koge tokens you would like to swap with your BNB tokens, and the user interface will display slippage information and the amount of BNB tokens you are expected to pay. Click on the “Confirm” button if everything looks good to you.
You can also view how many BNB and Koge tokens there are in the liquidity pools, by clicking on the “Pool” tab.
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