We’re excited to announce the first IDO (Initial Dex Offering). Raven Protocol (RAVEN) will be listed 17th June 2019 on Binance DEX. The RAVEN/BNB pair will open for trading at 09:00 AM (UTC). That was announced to the Binance Community here: https://community.binance.org/topic/137/raven-protocol-raven-will-get-listed-on-binance-dex
We will subsequently start the IDO at the same time. To be clear, this is NOT something initiated by Binance, Binance Chain, or Binance DEX. This is an IDO that the Raven Protocol team is introducing with the listing of RAVEN on Binance DEX.
The Raven Protocol community was constantly asking us if we’re doing a public sale, IEO, or Launchpad. We have a core group of true believers and they wanted us to make sure Raven Protocol gets the exposure it deserves. Introducing an Initial Dex Offering is the perfect way to say hello to the world.
What is an IDO?
We don’t know. Because Binance DEX is so new, this is something that’s never been done before. We are literally paving the way and setting a precedent for how projects could leverage the entire Binance Chain ecosystem. If successful, this could be a strong case study for how early stage projects can go from idea to expanding the crypto ecosystem. We want you to be part of this movement!
This is all a work in progress. We know it won’t be perfect and we know some people will be upset because they couldn’t get in. Please bear with us. This experiment could lead to setting the gold standard for how young projects can get the resources they need to stay heads down and build.
A decentralized exchange is important because it’s the crypto community that drives this industry forward. Everyone’s voice matters. Getting listed on Binance DEX required a community vote. All 11 out of 11 Binance Chain validators voted YES for Raven Protocol to be listed. That’s all thanks to the community who has supported Raven Protocol from day one.
The first batch of companies listing on the DEX are growing this ecosystem together. Binance Chain and Binance DEX have a solid chance of enabling new technologies that otherwise never would have been possible before. Let’s not mess it up.
How Can We Participate in the IDO?
Since the listing is happening in a few days and we are a guinea pig, let’s keep this simple. We will place blocks of sell orders at the opening of trading.
All participants will need to pass a KYC check, please submit your application for here: https://forms.gle/2MP8uPqDYZuYL5oT6
Initial Dex Offering Details:
- IDO Session Time: 2019/06/17 09:00 AM (UTC) to 2019/06/18 09:00 AM (UTC) or when hard cap is reached. Whichever comes first.
- Token Name: Raven Protocol (RAVEN)
- Hard Cap: $500,000 (15,000 BNB)
- Total Token Supply: 10,000,000,000 RAVEN
- Total Tokens Allocated to IDO: 300,000,000 RAVEN (3% of Total Token Supply)
- IDO Token Price: 1 RAVEN = 0.00005 BNB
- IDO Format: FCFS/FIFO (First come, first served / First in, first out)
- Individual Cap: 100 BNB (2,000,000 RAVEN; We can’t enforce this individual cap and it will be done on an honor system. We trust the crypto community will be fair about this. Don’t you dare ruin this for everyone :)
- Raven Protocol (RAVEN) is issued on Binance Chain as a BEP2 asset.
- Seed Round: $400K for 406,500,000 RAVEN (4.065% of Total Token Supply)
- Strategic Round: $2.5M for 1,873,500,000 RAVEN (18.735% of Total Token Supply)
- Private Round: $2.2M for 1,420,000,000 RAVEN (14.2% of Total Token Supply)
- Initial Dex Offering: $500K for 300,000,000 RAVEN ( 3% of Total Token Supply)
- Total Tokens Sold (in all rounds + IDO): 4,000,000,000 RAVEN (40% of Total Token Supply)
- Seed/Strategic/Private Token Release Schedule: 40% initial release, 30% after 3-months, 30% after 6-months
- Team Vesting: 24 months vesting starting 1 year after TGE
Raven Protocol Project Links:
Whitepaper: Raven Protocol
* Users from the following countries are not allowed to participate in the IDO as users they will no longer be able to access www.binance.org from an IP address belonging to one of the following countries :
USA, Albania, Belarus, Bosnia, Burma, Central African Republic, Democratic Republic of Congo, Democratic People’s Republic of Korea, Cote D’Ivoire, the Crimea region of Ukraine, Croatia, Cuba, Herzegovina, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Macedonia, Moldova, Serbia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, or Zimbabwe.
Additionally, these are the excluded jurisdictions that Raven Protocol Limited is placing. Users from the follow countries are not allowed to participate in the IDO:
- United States of America
- The People’s Republic of China (which for the purpose of this Agreement shall exclude the Hong Kong Special Administrative Region of the People’s Republic of China, the Macau Special Administrative Region of the People’s Republic of China, and the Republic of China (Taiwan))
- Democratic People's Republic of Korea
- Democratic Republic of the Congo
- Sri Lanka
- South Sudan
- Trinidad and Tobago
- Any jurisdiction in which the Initial DEX Offering (IDO) is prohibited, restricted or unauthorised in any form or manner whether in full or in part under the Laws, regulatory requirements or rules in such jurisdiction.
If you fail to meet KYC or country requirements, then you are solely responsible for the legal repercussions of your purchases. By Participating in the IDO, you acknowledge and agree that the tokens subject of the IDO are being issued by and sold to you by Raven Protocol Limited (“Token Vendor”), a company incorporated in the British Virgin Islands. You also acknowledge all risks involved relating to purchasing of cryptocurrency. You also agree to indemnify, reimburse and hold harmless Binance, the Token Vendor, each of their respective affiliates and their respective officers, directors and employees from and against any claim, any and all loses resulting from your participation in the IDO.