Everything You Need to Know About the Upcoming $ROYA IDO on Polkastarter
Royale is implementing a safelist policy to limit the impact of front-running bots in its upcoming IDO on December 21st.
We at Royale are overwhelmed by the support we’ve received from our community since we made our project public a few months ago. As the regal Royale IDO distribution event nears, we are amazed by the engagement we are beginning to see blossom from all our Kings and Queens in the Royale Telegram. This project would be nothing without its community, so we’d like to do everything we can to give back to our Royale-ty by doing our best to limit the impact of bots in our IDO.
At the moment of this post, we’ve received over 2,000 requests to safelist addresses for our upcoming IDO on Polkastarter. More requests are coming in every minute. In this post, we want to offer the full details of how we are proceeding with the IDO, how we will select whom to whitelist, the public price in the IDO, and future listing plans for our majestic $ROYA token.
IDO Price, Valuation & Vesting
The Royale IDO price is as below, along with other relevant valuation details. This public round will open on Monday, December 21st at 1pm UTC time. The only crypto that can be accepted in this IDO will be Ethereum (ETH). The ETH peg will be set on the day of the IDO
- 👑 Total Supply: 72 million $ROYA tokens
- 👑 Circulating Supply at TGE: ~8,562,400 $ROYA tokens
- 👑 Supply Offered in IDO = 2,500,000 $ROYA tokens
- 👸🏻 $ROYA Token Price at IDO = US$ 0.12
- 👸🏻 $ROYA Market Cap at IDO = US $1,027,488
- 🤴🏻 $ROYA Market Cap Fully Diluted = US $8.64M
We’ve purposefully kept the fully diluted market cap low to offer our early supporters the chance to be handsomely rewarded. All tokens in the IDO public sale will be fully unlocked after the initial lock period of 18 days. On that same day of unlock, we will then be listing $ROYA on a centralized exchange on January 8, 2021. More details to follow.
Unlike the previous two Polkastarter IDO’s, we will not be immediately listing on Uniswap. This decision was not made lightly. In the end, we want to do what’s best for the project and also for the Royale families involved in the project. The core team has been pushing hard for months on developing the platform, building brand awareness, solidifying top-tier partnerships like we have with our insurance partner TIDAL, and in general just being resplendent in bringing this noble vision to life. We owe it to our families to be with them during this holiday time, especially this year. We may have some holiday surprises for you, however, so stay tuned!
Unlocking the Power of Polkastarter
Our intention from the very outset of Royale has been to conduct an IDO in order to give as many people a chance to share in the upside value that we aim for. We purposely gave our institutional partners limited allocations in order to be able to provide more opportunity for our burgeoning community of nearly 3,500 Twitter followers and 2,500 Telegram members.
As part of this strategy, we’re leveraging two of Polkastarter’s most powerful features to ensure that our $ROYA token distribution event will be as fair and equitable as we can possibly make it:
- 👑 The ability to set a max contribution per address
- 👑 The ability to safelist addresses
These features are a great way for us to leave enough room in the public distribution event for genuine supporters to join our community of token holders. Though there are always unforeseen loopholes that come about when conducting a decentralized affair, we would very much like to conduct a public token distribution event without the front-running bots that plague many other decentralized listings, creating high gas fees and crowding out the would be Royale-ty.
In this IDO, we will also be testing out another feature of the Polkastarter technology stack — the ability to timelock or vest tokens that are spoken for in the IDO. Once you have a successful entry, your $ROYA token allocation will show up in the “Your Allocation” section of the Polkastarter website, along with the date and time of the regal unlock ceremony of your $ROYA tokens.
IDO Contribution Limits
We can’t express how appreciative and humbled we are by all the well-wishers that have expressed interest in the Royale IDO. We’ve seen contributors from all over the world, from all kinds of ethnicity, age, gender, and profession. Royale knows no borders and aims to create true value for all.
There will be no minimum contribution for this event. However, the maximum contribution per address is set as below
- 👑 Total Raise in ROYA IDO: US$ 300,000
- 👸🏻 ROYA IDO minimum contribution per wallet: US$ 0
- 🤴🏻 ROYA IDO maximum contribution per wallet: US$ 500 worth of ETH
By placing a maximum cap of $500 per address for a total raise of $300k, we hope to allow at least 600 future Kings and Queens to partake, which would be a truly majestic feat.
Two Contribution Pools
As we previously mentioned in our initial Polkastarter announcement, we will have two pools open for contribution.
- 👸🏻 Queen Pool for Safelisted Applicants:
US$ 200,000 for 1.675M $ROYA
- 🤴🏻 King Pool for Safelisted Applicants WHO ALSO HAVE 1,000 $POLS TOKENS:
US$ 100,000 for 0.825M $ROYA
It is important to note that just because you hold $POLS tokens in your account, that does not give you access to the $POLS Holders Pool. $POLS token holders also need to fill out the safelist form below.
We will be taking a snapshot of $POLS holders with 1,000 $POLS tokens on Monday, December 21st and comparing that list to the $ROYA Safelist to create the safelist for the 🤴🏻King Pool. We will also evaluate those $POLS token holders who provide Uniswap liquidity.
Safelisting Process
The safelisting selection criteria of course will always be a point of community concern. To join our $ROYA safelist, please submit your details using the following typeform:
1. Ensure that the form is filled in properly and the steps mentioned in the typeform are followed.
2. Have a Twitter account with at least 7 followers or is older than Dec 1st 2020.
2.a) If you do not have a Twitter account, you can include a valid telegram handle or LinkedIn.
2.b) Ensure that tweet links are submitted from the right account.
Safelisting Timeline
- 👑 18th December — 3:00 AM UTC — IDO Safelist Application open time (FINISHED)
- 👸🏻 Sunday, 20th December — 9:00 PM UTC — $ROYA Safelist Application Closing Time
- 🤴🏻 Monday, 21st December —Morning UTC — Safelist Applicants Announcement
- 👑 Monday, 21st December — 1:00 PM UTC — Royale IDO (Public Sale) start time
FAQs
How do I know if my address is safelisted or not?
To check the status of your application, you will be able to check to see if your address is on a list that we will provide on Monday, December 21st.
If I get safelisted, does that mean I have a $ROYA allocation?
No. Since we already have over 2,000 safelist applications and there is a limit of approximately 600 Kings and Queens, you are not guaranteed an allocation. What it means, however, is that you will not have to compete against bots! A safelisted address grants you the opportunity to contribute to the IDO. It is by no means a guarantee of a $ROYA allocation. Due to the nature of the smart contracts, the Polkastarter IDO will be on a FCFS (first come first serve) basis, meaning the buying window is open to all safelisted participants at a set time, Monday, December 21st 1 pm UTC. The contribution window will close as soon as 2.5 million $ROYA tokens have been spoken for.
Why is there a max cap per person? What if $500 per address is not enough?
The max cap feature on Polkastarter allows us to conduct a fair and transparent IDO that provides an even opportunity for every potential ETH contributor. More important to the project, it goes a long way to develop a “long tail” of token holders who are vested in the project at a reasonable price level. Those are the Kings and Queens we want in our Royale Kingdom.
It shows a really high gas fee on my Metamask when I transact. Why so?
Gas fees are an inevitable requirement of transacting on the Ethereum network. As of today, the Polkastarter DEX allows only ETH transactions. While we are aware that sometimes gas fees are high it is beyond anyone’s control. Gas fees are calculated depending on the traffic at a given time. If the sale has been completed, the Polkastarter platform will show a very high gas fee but this is just indicative, the transaction will not actually go through.
About Royale Finance
Royale Finance is an industry-focused decentralised lending protocol. Its purpose is to create Web 3.0 smart-backed funding solutions using DeFi primitives in order to support the innovation of iGaming products and platforms. The combination of iGaming returns, uncorrelated to DeFi cryptoassets but powered by base layer DeFi protocols, we call iGDeFi.
Follow us on Twitter and join our community on Telegram.
About Polkastarter
Polkastarter is a DEX built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized, permissionless, and interoperable environment based on Polkadot. In order to optimize platform usage, it’s crucial to incentivize liquidity through community rewards and partnerships.
Please visit our IDO technology partner on Twitter and Telegram.
