Our First Staking Campaign: A Whirlwind Sale and How To Improve Our Future Offerings
The first week of OpenSwap had been like a whirlwind for our team. After months of building and we were finally ready to invite our community for a preview launch of the one stop de-fi hub, OpenSwap.
All Tokens Sold in Five Hours and are Quickly Staked
The OpenSwap DApp opened its doors on April 22 as a preview launch with support for performing swaps against PancakeSwap and BakerySwap pools. We also had our first staking campaign and it was sold out within five hours, which really took us by surprise!
We truly appreciate all the support, and how quickly the community staked without much information on the OSWAP token. Whether it’s from the community that joined us from OAX or those that heard about us on the way, this is an indication that the community strongly believes in our vision of reducing the friction of cross-chain decentralized exchange (DEX) swaps and the journey we are embarking on.
Expanding Campaigns to Support Our Community
With the huge outpouring of support, there was no way our initial allocation would be sufficient to meet the demand. This experience was important for the OpenSwap team: — we’ve learnt that not only do we always need to be on our toes, but we must always expect the unexpected in this crazy DeFi space!
Our sole intention of the staking campaign was to give back and thank the OAX community for all the feedback, so for those that missed out on our first staking campaign, don’t worry! Our team is working hard on creating an additional, better, wider staking campaign for OAX members with ample lead time for our community members to prepare and take-part. Follow us on social media to be the first to hear the announcement and stay tuned for more exciting information in the very near future!
Official Announcement Channel: https://t.me/openswap_official
More Information on OSWAP Tokenomics
We’d also like to take the opportunity to share a little more about the OSWAP token as we continue to work on the tokenomics. All OSWAP tokens awarded before the IDO will be vested as we have seen positive results with projects such as DODO and BAO. The vesting schedule will begin one week after our IDO which has a yet to be determined date. For the initial staking campaign the OSWAP tokens will be linearly vested over 24 months one week after the IDO.
We are still in the infancy phase of the project and we will continue to share more information about our token as we approach the IDO. Thank you for reading this and a huge thanks to all of the community for your continued support.
Bruce Chau — Founder of OpenSwap