Minted Network is Launching on VVS Launchpad (IGO)
Gems always shine in all circumstances. We are thrilled to announce that Minted.network (Minted™), a decentralized NFT platform, will be launched through our Initial Gem Offering (IGO)!
What is Minted?
Minted.network is a decentralised NFT platform that aspires to be the digital bazaar of wonders for everyone to discover, trade, and find NFT gems, native to Ethereum and Cronos. Aiming to bring more tools for collection owners to design, curate, and offer utilities to their communities, all without the technical complexities that riddle many aspiring collection owners.
Mint, Minting, Minted
Minted helps promote discovery between creators and collectors, with the below key functions:
- Self-Custodial Trading — users maintain full control of their NFTs
- Multi-chain Support — supports both Ethereum and Cronos from the get go
- Native $MTD token — $MTD is Minted™’s native token on Cronos designed to reward and incentivize the long term supporters of the platform
- Security First — placing safety and security as the top priority, Minted™ smart contracts are fully audited by third-party auditor Blocksec
Why Minted™ Network?
Minted™ Network provides enormous added value to the benefit of creators, collectors and stakeholders via:
- Extending Cronos NFT ecosystem — Minted™ as the link taking Cronos NFT ecosystem further by enhancing the attractiveness and visibility of the projects to other interchain communities, starting with Ethereum
- Empowering collection owners — Minted™ brings more tools for collection owners to design, curate and offer utilities to their communities without the technical complexities
- Rewarding the community — a proportion of trading fees will be shared with the community to incentivize long-term supporters of Minted™. Users will also be able to deposit $MTD into vaults to earn additional yield on it
Key Features
- Discover: keep up to date with the trendy NFT collections and find new gems;
- Browse: view all listed NFT collections from Homepage or Collections page;
- Purchase: purchase listed NFTs by (1) Buying a Fixed-Price NFT or (2) Making an offer on an NFT;
- Sell: list NFTs for sale on Minted™. A 2% platform fee and a % of royalties (varies by collections) will be charged.
Launchpad
The go-to platform for creators to launch new NFT collections, and for collectors to discover the next blue-chips!
- Launch: release your own NFT collection on Minted launchpad to get access to the best NFT community;
- Mint: mint your favourite collection with only a few clicks before it ranks at the top on secondary market leaderboard!
Rewards
Creators, collectors and stakeholders will be rewarded for their active participation on Minted. More details will be revealed after Minted™ launch.
The platform will release their Open Beta in early August!
Token Economics
$MTD is Minted’s native token built on the Cronos chain, which will be used to reward users by sharing the revenue from platform fees and other utilities. In the future, $MTD will also be used for governance once governance module is opened to the community.
Token distribution
IGO Launch Details
Start Date: Tue August 9th, 2022 9am UTC (5pm SGT)
Duration: 24 hours
LP Seeding: Wed August 10th, 2022 9am UTC (5pm SGT)
Amount Allocated: 60,000 USD
Fully Diluted Valuation (or equivalent): 60,000,000 USD
Units Allocation: 1,000,000 $MTD at $0.06 USD per token
IGO Method: ‘Gem Fair’ . The offering will be conducted using the Overflow Method. The user’s unused VVS will be returned right after the IGO. In collaboration with Minted.Network, the remaining committed VVS balance will be returned to users after 30 days. So yes! you receive MTD and all your committed VVS back.
Gem Fair eligibility snapshot: Taken randomly between Aug 7th— Aug 8th
Vesting: 40% Immediate, 60% Monthly Vesting at 10%
Investment token: $VVS
Max commitment: $100 USD worth of VVS
Max overflow: 4x
Basic Offering: ‘Gem Fair’ (USD 60,000 to raise)
In the Gem Fair, each person can contribute a MAXIMUM of $100 USD equivalent of VVS tokens.
To enter the Gem Fair, each user has to stake in xVVS Vaults, with varying amounts based on the different vault lockup period. Note: the staked amount cannot be split across multiple Vaults.
In essence, with a longer lockup period in the Vaults, the amount of xVVS staked required to enter the Gem Fair will be lowered.
The Gem Fair eligibility snapshot will be taken randomly between Aug 7th — Aug 8st. Make sure to complete the staking requirement by Aug 6th 11:59 PM UTC — 2022
The number of tokens available in this format will account for 100% of the total offering.
In order to ensure participants have meaningful IGO allocation in the event of oversubscription, the Max Overflow mechanism will be implemented. The pool will stop accepting further deposit commitment once the overflow reaches 4x / 400% of the amount to raise.
What Is the “Overflow” Method?
In essence, the more a user commits, the more allocation they may receive based on their percent commitment over the total committed amount.
Participating in the IGO
Eligibility:
- Stake xVVS in Vaults for before the Minted Network IGO. (Required for the basic offering ‘Gem Fair’)
- Get VVS tokens which will be needed to obtain the $MTD token.
Before the IGO:
- Get some VVS tokens and stake them for xVVS.
- Ensure you have xVVS staked in a Vault prior to the IGO. xVVS has to be staked before the snapshot is taken in order to be eligible, refer to the above snapshot time and amount required (Required for the basic offering ‘Gem Fair’).
- Arm yourself with VVS tokens, this will be your way to obtain $MTD.
During the IGO:
- Commit VVS tokens: commit your participation by staking VVS tokens in the IGO smart contract.
After the IGO:
- 40% of your $MTD tokens will be immediately claimable once IGO is completed.
- The remaining 60% of tokens will vest monthly over 6 months (10% per month)
- Your allocation of $MTD tokens is calculated based on the overflow.
- Any unused VVS tokens will be returned to you automatically upon claiming your $MTD tokens.
- The remaining of your committed VVS tokens will be returned after 30 days. Yes! you receive MTD and all your committed VVS back.
MTD Farm/Mines Post IGO:
- VVS-MTD Crystal Farm Dual reward farm
- Stake xVVS earn MTD Glitter Mine
Project Details
Project: Minted.network ($MTD)
Website: Coming Soon!
Contract Address: To be updated
Audit: by Blocksec
Twitter: @MintedNetwork
Medium: https://medium.com/@MintedNetwork
Discord: https://discord.gg/DAXtMNhvKT
Telegram: https://t.me/MintedNetwork"
FAQ
1) What is the overflow model*?
In essence, the more users commit, the more allocation they may receive based on their percent commitment over the total committed amount. Any unspent amount is returned to users immediately after the IGO.
In collaboration with Minted.Network, the remaining committed VVS balance will be returned to users after 30 days. So yes! you receive MTD and all your committed VVS back.
2) How are VVS users eligible for the IGO?
VVS users are required to stake xVVS in Vaults and meet the staking requirements prior to the IGO to participate.
3) What is the max overflow cap for?
Max overflow is an optional feature if the project team wants to ensure an equitable size for pool participants. After the max overflow amount is hit, no additional users can commit further funds.
4) Any vesting/restriction on the funds raised?
We don’t impose vesting or restrictions, project owners can dissolve the LP, and utilize funds at their discretion.
5) Can we launch a Crystal Farm/Glitter Mine on your platform?
To incentive users to add further liquidity to your pool, we can launch a farm pair with your token. Generally, the IGO project owners sponsor an equivalent amount of token in a Glitter Mine for VVS users to earn your token.
6) How about co-marketing?
IGO is a deep partnership. Our team will be fully committed to promoting your project to our user base and launching co-marketing initiatives.
7) How does the fee on the unlimited pool work?
The fee goes from a max of 1% decreasing in cliffs to 0.2% when the pool reaches overflow percentage.
The fee is taxed on the amount committed and is sent to the VVS treasury to cover platform operational costs.
Disclaimer — All projects are subject to both high market risk and volatility. We ask that you do your own research and full due diligence before investing your funds in any project. VVS Finance will not be held responsible for any investment losses.
Additionally, persons located in or residents of the following list or any other jurisdiction in which it is prohibited from using any of the services offered on the VVS Finance website, including IGO, (the ”Prohibited Jurisdictions”) are not permitted to make use of these services.
You may find the full list of “Prohibited Jurisdictions” and Usage Disclaimer here.
