Introducing VVS Initial Gem Offering

Published in

VVS Finance

4 min readNov 30, 2021

It has been an incredible three weeks since the VVS launch. We sincerely appreciate the support from the VVS community who have been with us throughout the ups and downs of a rapidly growing platform. You guys rock!

Our vision for VVS is to bring VVS community the shiniest gems in the Cronos Universe, and to play a key role in driving liquidity in the Cronos ecosystem. As our team witnesses in the past few weeks an explosion of new projects launching on Cronos, we see the opportunity to support the ecosystem through enabling new project teams to raise funds, drive community growth and bootstrap initial liquidity in an end-to-end process.

So today, we are delighted to announce that our Initial Gem Offering (IGO) launchpad is complete and open for applications! Apply here.

We will announce the first IGO project timeline once we finalize the details. In the meantime, soak in the knowledge in this guide on how to participate in your first IGO!

IGO Basics

TLDR; IGO is an opportunity to purchase a brand new token at a fixed price launching on Cronos.

Projects may offer one or two offerings options during an IGO.

Basic Sale | ‘Gem Fair’
Unlimited Sale | Gem warehouse

What’s in it for me?

VVS Community: Access the exclusive sale of new tokens from new exciting projects launching on Cronos!

Project Owners: Partner with VVS and launch your project on the leading DEX on Cronos! Our IGO mechanics are built to deliver value and flexibility to both the project team and community participants.

Basic Sale: ‘Gem Fair’

No fees.
Cap on how much you can commit to purchasing so more people can participate. The cap is decided on a per IGO basis.
Overflow Allocation: you can only commit up to the maximum amount set per participant. Unused tokens are returned.

Unlimited Sale: ‘Gem Warehouse’

Participation fee max 1% and goes down as more people join the sale.
No cap on committable purchase.
Overflow Allocation: you can only commit up to the maximum amount set per participant. Unused tokens are returned.

Understanding the IGO parameters

Project name: Name of the project launching on IGO and offering the token sale.
Start date: When users will be able to commit LP tokens to purchase the new token.
Sale type: Basic, Unlimited, or both.
Price: price per token.
On sale: the number of tokens for sale in a given offering.
Max LP entry: maximum amount of LP tokens a single user is able to commit.
Funds to raise: the amount the project team intends to raise.
Participation fee: unlimited offering only. Max at 1% and goes down as more people join.
Max overflow [optional]: maximum overflow of user purchase commitment before the sale is closed.
Whitelist [optional]: additional whitelisting requirement to participate from the project team (if any).

How to participate

Eligibility:

Stake 1M VVS in VVS Glitter Mines for at least 7 days before the IGO sale (subject to change in the future based on community feedback).
Get VVS-CRO LP tokens which will be needed to purchase the new token.

Before the sale:

Get some VVS tokens!
Ensure you have 10M VVS staked in the Glitter mine for at least 1 week prior to the sale.
Get some CRO tokens!
Convert them into VVS-CRO LP tokens by supplying liquidity
Arm yourself with VVS-CRO LP tokens, this will be your currency to purchase the new token

During the sale:

Commit VVS-CRO LP tokens: commit your purchase intention by staking VVS-CRO LP tokens in the IGO smart contract.

After the sale:

Claim your new tokens!

Your allocation of new tokens is calculated based on the overflow.
Your committed tokens are used automatically to purchase the offering token.
Any unused VVS-CRO LP tokens will be returned to you.

For Project Owners

Submit an application form, and we will be in touch shortly!

Partner with us and launch your project on the leading DEX on Cronos with a rapidly growing user community ready to support the next star dApp on Cronos.

Why VVS IGO:

Flexible mechanism to launch your project:

Set an optional whitelist requirement for participants to avoid bots and whales abusing the sale
Set an optional overflow cap to ensure each user gets a sizable amount of allocation
Limit maximum amount committable per user to increase the number of users able to join the sale

One-stop-shop to launch your project and bootstrap initial liquidity at the largest DEX on Cronos; IGO projects automatically will be eligible for Crystal Farm and Glitter Mine partnership.
Support from our team on co-marketing and co-promotion opportunities.