The format and structure of THORChain’s Initial DEX Offering (IDO)

THORChain
THORChain
Jul 17 · 2 min read

THORChain will be conducting an Initial DEX Offering of the RUNE token on Binance DEX on 20 July 2019.


IDO Format

20m RUNE will be made available for public distribution.

This is 33% of the Day 0 circulating supply of 60m RUNE.

The following is the Initial DEX Offering format:

The first tranche will begin by placing 50 sell orders of 200k RUNE each at the same price. As soon as the tranche is filled the second tranche of 50 sell orders will be placed at the new price.

Unsold orders will expire after 72 hours (as per Binance Chain protocol) and be moved back to the reserve.

TIME

The IDO will be conducted at the following times:

Saturday, 20 July 2019

0800 UTC | 1000 CEST | 1600 CST (Beijing/Singapore)| 1800 AEST

Earlier Sales

Pre-sales are 50% vested over 7 days to give sufficient liquidity to public buyers. The maximum possible discount in pre-sales was 30%.

Private sales are locked for 3 months before being vested over 12 months.

Seed sale, Team and Advisors are locked for 3 months before being vested over 15 months.

The rest is a controlled emission into the Operation Reserves, Marketing Pool and Liquidity Emission. It is detailed in the original proposal here:

Features

This format is fair and special for the following reasons:

  • No single person can buy the entire sale
  • The sale is spread over two price points, of only a 20% difference.
  • The sale is spread over multiple timezones for maximum inclusion.
  • The sale will conclude in a maximum of 72 hours.

Ask Questions

To keep up to date with the Token Offering and Airdrop, please monitor community channels, particularly Telegram and Twitter:

THORChain

A lightning-fast decentralised liquidity network.

THORChain

Written by

THORChain

The official team for THORChain — the lightning fast decentralized liquidity network.

THORChain

THORChain

A lightning-fast decentralised liquidity network.

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