IX Swap IDO and Token Vesting Update
IX Swap tokens will have a vesting schedule, learn what this means here.
Hello Occam.fi community. We have a short update regarding the upcoming IX Swap IDO which we would like to communicate. To ensure fairness and promote a stable secondary market trading environment for the IX token following their IDO, the IX Swap team have opted for a simple vesting schedule for their token release.
Only one third of tokens will initially be available to claim from the pool following the IDO. Users will be able to begin claiming the rest of the tokens, the remaining ~66.6%, on the 15th of September. Each week, a portion of the vested ~66.6% is released and claimable through IX Swap’s interface — more information will be provided on how to claim this closer to the time. Please also note, that while the nominal pool token price is set around $0.42 per IXS token, the actual price is 3 times less, due to only a third of tokens being available through the IDO. Once all tokens are released, the price paid per token in the IDO will be $0.14 per IXS.
Participants will be able to go to the IX Swap webapp and claim the tokens according to the vesting schedule from the IX Swap team directly. The vesting period ends on the 30th of November, at 13:00 UTC, whereupon all tokens will become available. Users are free to wait until the vesting period ends and claim all their tokens at once. Likewise, CED rewards for IX Swap will also be locked for 24 months owing to the vesting schedule of the project.
We thank you for your patience as we accommodate a vesting schedule for our IDO partners at IX Swap. The IX Swap team has solid reasons for introducing a vesting schedule of this nature, to protect their secondary market trading environment for retail holders, and we support their decision. Any further questions on IX Swap’s vesting schedule can be directed to their community team in Telegram.