Swop.fi
Published in

Swop.fi

Muna on Swop.fi Launchpad

Swop.fi announces the IDO of MUNA. Muna is a simple and easy-to-use mobile app to access DeFi and crypto in Africa with $MUNA as the ecosystem’s utility and governance token.

The main purpose of Muna is to make it easy for Africans to buy coins in local fiat via bank transfer, to swap, lend and borrow, and make payments with receipt.

Learn more about MUNA tokenomics

Key IDO numbers

Update: added the High-Competition Sale!

  • For sale: 550,000 MUNA

Including:

  • Sale for SWOP stakers: 400,000 MUNA
  • High Сompetition Sale: 100,000 MUNA
  • First promotion campaign: 25,000 MUNA
  • Second promotion campaign: 25,000 MUNA

You can participate in all sales and campaigns in parallel.

  • Token price: 1 USDN
  • To raise: 550,000 USDN
  • 10% of the MUNA tokens sold will be available to claim immediately after the IDO wrap-up
  • The rest of the MUNA tokens will start unlocking in a month after the IDO wrap-up and will be unlocked gradually over the course of three months

Timeline

  • Publication of the project on Launchpad, the first campaign start:
    February 24 (Thursday)
  • Start of USDN deposit, the second campaign start:
    March 1 (Tuesday)
  • End of USDN deposit, MUNA-USDN pool launch:
    March 3 (Thursday)
  • IDO wrap-up, possibility to claim 10% of MUNA:
    from March 3 (Thursday)
  • Possibility to unstake SWOP:
    from March 17
  • Start of the remaining MUNA unlocking:
    ~ April 2 (estimated date, unlock will start at a certain blockchain height)
  • End of all MUNA unlocking:
    ~ July 1 (estimated date)

MUNA token unlock process

On March 3, immediately after the IDO wrap-up, only 10% of the MUNA tokens sold will be available to claim. The remaining 90% will stay locked for one month, and then will be evenly unlocked within 3 months. Thus, the MUNA tokens sold on Launchpad will become fully available in four months.

Unlocked MUNA tokens will be available to claim on the Launchpad page.

Sale for SWOP stakers

Summary:

  • Tokens for sale: 400,000 MUNA
  • Ticket worth: 10 USDN (plus Swop.fi commission of 5%)
  • Every 2 SWOP in staking entitles a staker to buy 1 ticket
  • Each ticket will bring the buyer either 10 MUNA or a full refund of USDN

Let’s assume you have 21.78 SWOP in staking. This means that you can buy a maximum of 10 tickets for 105 USDN total (including 5% commission).

You can buy tickets several times: if you haven’t bought all the tickets available to you or staked additional SWOPs, you will be able to purchase more. However, you cannot refund your tickets. In addition, you cannot unstake SWOP corresponding to purchased tickets for two weeks after the sale ends.

The MUNA-bearing tickets will be picked randomly. The rest of the tickets will be refunded to buyers. The script for selecting winning tickets is published on Github: https://github.com/swopfi/launchpad. We explained how we guarantee fair selection in our Launchpad Random article.

For example, if 4 of 10 purchased tickets turn out to be “winning”, on claim you will receive:

  • 40 MUNA, which equals 40 USDN; of which 4 MUNA (10%) will be unlocked immediately after the IDO wrap-up, the remaining MUNA will become available later
  • 63 USDN, including a 3 USDN commission refund

High competition sale

Summary:

  • Tokens for sale: 100,000 MUNA
  • Ticket worth: 10 USDN (plus Swop.fi commission of 7%).
  • Each ticket will bring the buyer 10 MUNA or a full refund of USDN.

Everyone is welcome to buy tickets at this sale, no SWOP staking is required. There are several times less MUNA tokens allocated for this sale than for SWOP stakers, and we expect a higher oversubscription rate. The selection of tickets provided with MUNA will be separate from the Sale for SWOP stakers, but with the same rules.

Social media promotion

The first 250 participants of each promotion campaign to complete the promotion task are guaranteed to be able to buy 100 MUNA for 100 USDN (plus Swop.fi commission of 5%). Immediately after the IDO wrap-up, you will be able to claim 10 MUNA (10%), the remaining MUNA will become available later.

How to participate:

You can get detailed instructions and report on the completion of the task using the link that will appear along with the project announcement on the Launchpad page.

If you manage to complete the task among the first 250 participants, you will see the button for depositing USDN on the Launchpad page when the sale starts. After the sale ends, you will be able to claim MUNA according to the unlocking schedule.

Participants of the promotion campaigns are not required to stake SWOP. However, you can both participate in campaigns and buy tickets as a SWOP staker.

Referral program

On the Launchpad page, you can copy the referral link and share it with your friends. Once they come to Swop.fi for the first time using your link and buy MUNA, you will receive the entire amount of Swop.fi commission as a reward. Both “winning” tickets and tokens purchased by the participants of promotion campaigns are taken into account. We will send the reward to your wallet after the sale ends.

The commission for token purchases not related to referral links will be spent on further Swop.fi improvement.

Pool with MUNA

We will create the MUNA-USDN pool before the IDO wrap-up. Project authors will provide initial liquidity. Voting for the pool is, in fact, voting for SWOP farming in this pool. If the vote accepts the pool, it will start to generate SWOP farming rewards for liquidity providers, including the first harvest.

Sign up to our Twitter not to miss out our regular updates! Join our support group on Telegram for questions related to our service.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store