Apr 25, 2022
Snail Trail Token IDO
with Dexalot Discovery
The Snail Trail Token IDO is on Avalaunch, with registration it opened on April 23 2022. The IDO will follow Avalaunch’s regular process to ensure a fair distribution of the token SLIME in the interested community. The IDO price will be $0.066 and will follow a vesting schedule. Please see Avalaunch’s social channels for more details.
Once the IDO is completed, SLIME initial listing price will be determined via Dexalot Discovery, a price discovery process based on an on-chain live auction. After the IDO, the trading of SLIME will begin on Dexalot. Key dates are outlined below.
Snail Trail (SLIME) Launch and Listing Timeline
Avalaunch Registration
April 23rd at 3:00 p.m. (UTC) Registration Opens
April 26th at 6:00 p.m. (UTC) Registration Closes
Avalaunch Sale
April 27th at 6:00 a.m. (UTC) Validator Round Begins
April 27th at 3:00 p.m. (UTC) Validator Round Closes
April 27th at 3:30 p.m. (UTC) Staking Round Begins
April 28th at 6:00 a.m. (UTC) Staking Round Closes
April 28th at 6:00 a.m. (UTC) Booster Round Begins
April 28th at 10:30 a.m. (UTC) Booster Round Closes
Dexalot Discovery
Dexalot Portfolio Enabled: April 28th at 11:00 am (UTC)
Price Auction Starts and Runs for 24 + 0–3 Hours: April 30th at 1:00 pm (UTC)
Matching Starts: May 1 at 1:00 pm +0–3 Hours (UTC)
Live Trading Starts Pending End of the Matching: May 2 at 11:00 am+0–3 Hours (UTC)
Fully Functional Trading Starts: May 2 at 2:00 pm (UTC)
Dexalot Discovery is a price discovery process for a new token using an on-chain, transparent, open auction. The traders enter buy and sell orders using Dexalot’s familiar interface and central limit order book. However, while regular trading would match the orders immediately, during Dexalot Discovery the orders are not matched until the end of the auction period. The execution of the matched orders occurs using a single price for all, determined using a frozen order book at the end of the auction. You can learn more about this process — here.
Writer: Brad McFall
Graphics: Can Toygar
About Dexalot:
Dexalot is a revolutionary decentralized exchange aiming at bringing the traditional centralized exchange look and feel to a decentralized on-chain application. Its mission is to bring a truly inclusive and transparent environment where Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk. It is built on Avalanche, the fastest smart contracts platform in the blockchain industry.
