🍯IDO Details

Overview

The NX Finance IDO is a significant step in decentralizing ownership and governance within the NX Finance ecosystem

The IDO will be separated into 2 rounds and conducted over 4 days, offering participants the opportunity to purchase $NX tokens at a fixed price

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Token Sale Details

Key Details:

• Date: 2nd September, 2024｜12:00PM UTC

• Duration: 96 Hours

• Total Supply: 100 million $NX

• IDO Allocation: 15 million $NX (15% of total supply)

• Valuation: $20 million FDV, assuming SOL at $140

• Price per Token: 0.00143 SOL

• Vesting Schedule: 100% at TGE

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IDO Rounds

1. Whitelist Round

• Date: 2nd September, 2024｜12:00PM UTC

• Duration: 24 hours

• Allocation: 4300 SOL

• Price per Token: 0.00143 SOL

• Valuation: 20M (assume SOL at $140)

• Eligibility:

  • Users with more than 500K total NX points before 12:00 PM UTC, 31st August, 2024

  • Qualified members from community

• Model: First-Come, First-Served (FCFS)

• Participation Limit: No limit per wallet

1. Participants in this round are given priority access to purchase $NX tokens. The first-come first-served model ensures that whitelisted users who act quickly will secure their tokens

2. Users can check their eligibility 1 day before the IDO date on the NX official website

1. Public Round

• Date: 3rd September, 2024｜12:00PM UTC

• Duration: 72 hours

• Allocation: 17150 SOL

• Price per Token: 0.00143 SOL

• Valuation: 20M (assume SOL at $140)

• Eligibility: Open to everyone

• Model: Overflow

• Participation Limit: No limit per wallet

In the public round, participants can contribute SOL to purchase $NX tokens If contributions exceed the maximum cap, the overflow model will be applied

• Token Distribution: $NX tokens will be distributed proportionally based on the amount of SOL contributed by each participant.

• Refunds: Any SOL contribution that exceeds the cap will be refunded to the contributor.

Formula for Received $NX Amount:

• Received $NX:

$$\frac{\text{User Contribution}}{\text{Total Contribution}} \times 2,000,000 \text{NX Token}$$

• Refund:

$$\text{User Contribution} - [\frac{\text{User Contribution}}{\text{Total Contribution}} \times \text{Min.(Max.Cap , Total Contribution)}]$$

Meaning of Min.(Max.Cap , Total Contribution): Choosing the minimum value of the two values, vice versa for Max.(A , B) Examples: Min.(2 , 100) = 2 Max.(2 , 100) = 100

Unsold Tokens: Any unsold $NX tokens after the public round will be burned, ensuring no excess supply remains

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Use of Funds

The funds raised during the IDO will be allocated to the following areas to support the growth and sustainability of NX Finance:

• Liquidity Provision: Ensuring sufficient liquidity on decentralized exchanges

• Development: Funding ongoing development and enhancement of the NX Finance platform

• Marketing: Expanding awareness and adoption of the platform through targeted campaigns

• Reserves: Maintaining a reserve for future strategic initiatives and partnerships

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TGE

• Est. Date: 9th September, 2024｜12:00PM UTC

Details of TGE will be separately published, stay tuned for the further announcement.