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BurgerSwap Presents IFO|* Tutorial Inside

BurgerSwap is excited to release “IFO” (Initial Farm Offering), where you can buy new tokens with a brand new token sale model.

The first project to be hosted on IFO is FUN Protocol (FUN). FUN token sale details are as follows:

  • Token name: FUN
  • Total Tokens Allocated to BurgerSwap IFO: 825,000 FUN
  • Subscription Period: 2021–4–22 13:00- 17:00 (UTC+8)
  • Total Token Supply: 1,500,000 FUN (Initial Rebase)
  • Public Sale Token Price: 0.9 USDT/FUN (price in IFO of BurgerSwap will be determined prior to subscription)

What is IFO on BurgerSwap?

IFO allows users to buy new tokens using BURGER-USDT BLP tokens. The project gets the USDT, BurgerSwap burns the BURGER. You get the tokens.

  1. You will need BURGER-USDT BLP tokens to participate.
  2. BURGER tokens equating to half of the total funds raised will be burned forever: If the full $1,000,000 USDT allocation is raised, then $500,000 of BURGER tokens will be burned.

How to participate in an IFO?

Before farming, all users must make sure that:

· Your wallet is on the BSC network and is connected to BurgerSwap.

· There is sufficient BNB in your wallet for gas fees.

Visit https://burgerswap.org/ifo to find out more about IFOs.

Step one: Before Sale: Get BURGER-USDT BLP tokens

  1. Buy BURGER and USDT tokens.
  2. Get BURGER-USDT BLP tokens by adding BURGER and USDT liquidity on [Trade]-[Liquidity]- [V2]. For specific operations, please refer to [Provide Liquidity to an existing pool].

Step Two: During Sale: Commit your BURGER-USDT BLP tokens

  1. While the sale is live, commit your BURGER-USDT BLP tokens to buy the IFO tokens at https://burgerswap.org/ifo
  2. Click [Approve BURGER-USDT BLP] to approve the BURGER-USDT BLP transaction in your wallet, enter the amount you want to commit, and confirm the transaction.
  1. For more information, click [Details] to view more information about this session IFO.
  1. Please note that once committed, your BURGER-USDT BLP tokens will be locked and you will not be able to redeem or access any other functions until final token distribution.

Step Three: After-subscription period: Claim the IFO new tokens

  1. When the subscription period is complete, claim the IFO tokens you’ve purchased. Any unused overflow funds will also be returned to the user when you claim your new IFO tokens after the subscription period.
  2. The initial rough calculation of each participant’s final token allocation is:

(Individual committed BURGER-USDT BLP tokens / Total committed BURGER-USDT BLP tokens by all participants) * Total tokens to be sold on IFO.

For example, if a total of 1,000,000 tokens are being offered in a new IFO session and a user commits 5,000 BURGER-USDT BLP tokens and 9 other users commit a total of 95,000 BURGER-USDT BLP tokens during the subscription period, achieving 100% of the target amount.

This user would receive (5,000 / 100,000)* 1,000,000= 50,000 IFO tokens.

What is the “Overflow” sale method?

If the BURGER-USDT BLP tokens raised exceed the IFO project target, all excess BURGER-USDT BLP tokens will be returned to users and will be returned when the specific user claim and receives their IFO new tokens when the sale period is complete.

The Math:

Example — 5x amount of project target committed

Total token target of IFO project: 1,000,000

USDT per token: $1

Amount to be raised: $1,000,000

Actual funds received: $5,000,000

Your BURGER-USDT BLP value: $5,000

Your portion of total funds received: 0.1%

Your IFO new tokens amount: 1000

Cost of your BLP: $1000

BLP returns to you: $4000

What happens if the IFO doesn’t raise the full project target amount?

The sale will proceed as normal, and all funds contributed will be spent.

The Math:

Example — 0.5x amount of project target committed

Total token target of IFO project: 1,000,000

USDT per token: $1

Amount to be raised: $1,000,000

Actual funds received: $500,000

Your BURGER-USDT BLP value: $5,000

Your portion of total funds received: 1%

Your IFO new tokens amount: 5000

Cost of your BLP: $5000

How is my final allocation calculated?

Once the subscription period is over, each user’s token allocation will be roughly calculated as follows: (Individual committed BURGER-USDT BLP tokens / Total committed BURGER-USDT BLP tokens by all participants) * Total IFO tokens to be sold. *Except any overflow not considered as illustrated above.

Is there a limit to how much I can commit?

You can commit any amount of BURGER-USDT BLP tokens as many or as little as you want to the IFO.

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