All You Need to Know: The UND — IEO
In the last months- the “IEO” craze has been a major catalyst to kickstarting the bulls back up and waking up the sleepy industry. Many projects “delayed” by the bear market have suddenly reappeared and are “IEOing”
From the outside it seems like a “get lucky” system with even CZ -the leader of Binance saying that for IEOs on his platform you can get “lottery tickets” Which I suppose means that you “win” something.
What we have seen typically is
- Company already had a private sale and many outstanding tokens
- They “IEO” and sell out in minutes. Typically these are high caps
- Token gets listed days later and there is a flurry of trading with winners and losers. Typically what happens here is the ones lucky enough to get into the IEO sell fast to the ones that couldn’t and trading madness ensures.
This model seems to be working (until it doesn’t) and we aren’t here to get into an editorial deep dive on other projects but rather tell you today how our favourite project is doing it right as they are taking a long term sustainable outlook
Welcome to the UND — IEO
There is a total supply of 1,000,000,000 UND
- As of April 2019 -there is 29.3m in circulation (approx %2.9) this number includes the IEO and will not increase in the near future. Details on long term distribution method and ATD can be found in the relevant article.
- 8,000,000 will be offered in the IEO at 0.05 each through the Bitforex platform. Users will buy directly from Bitforex in this case. This comes to 400,000 USD sold.
- The sale will be conducted in ETH and not the platform token of Bitforex. We think that this is a fair way to do it because we have recently seen projects on other exchanges where people bought the exchange token and were not able to participate in the sale due to over subscription — then the exchange token goes down and they are at a loss. Obviously this is investing and at a persons own risk — but we see this happening quite often so have chosen ETH to sell to avoid forcing our community into this situation
- All sale tokens will be unlocked by Bitforex on April 13th and able to be traded
- Some may note that there is currently a small amount of UND in Circulation and it is being traded on IDEX and Digifinex around the 0.08–0.10 pricepoint per UND. Note the circulation and volume on this is quite small.
The purpose of the IEO is to get further circulation and allow those that want to become Masterstakers to accumulate at fair price discovery. There has been significant interest in the UND ecosystem not only from enterprises, but from those wishing to be MasterStakers.
Bitforex registration — http://go.unification.com/bitforex
UND Whitepaper — Which describes Materstaking models and block rewards — http://go.unification.com/whitepaper
UND — Telegram — https://t.me/unificationfoundation
Website and Tech information — http://www.unification.com
Unofficial Guide on MasterStaking — https://link.medium.com/S2Bs3x3eDV
GitHub — https://github.com/unification-com