> For the complete documentation index, see [llms.txt](https://nx-finance.gitbook.io/nx-finance-whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://nx-finance.gitbook.io/nx-finance-whitepaper/nx/ido-details.md).

# 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**<br>

***

## **Token Sale Details**

<figure><img src="https://k6b3q4cn2x.larksuite.com/space/api/box/stream/download/asynccode/?code=NWEwOTVlNjU1NjBjZGUxODAyNWUyOGQ5NGQ2ZTkwMDhfd1JVTlprSTRQYWx6OWM3UDVZZk1uMmszVnlXQjBrUXBfVG9rZW46TWo0OWJxS3hZb1pCNE54eERWYXU2V096c1hmXzE3MjQ0MTEzNzQ6MTcyNDQxNDk3NF9WNA" alt=""><figcaption></figcaption></figure>

### 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

***

## **IDO Rounds**

<figure><img src="https://k6b3q4cn2x.larksuite.com/space/api/box/stream/download/asynccode/?code=NDRjYWQwY2NlMTM0MTg4NmZiYzdiNDg1NWI5OWY4NjJfYkY1SWxPTGp1amlKdXZxWVNmVGlnaklyVXE2NFFwQlRfVG9rZW46R1N0dmJaa0JWb3JHNjl4ZU1pWXVpNHdnc1hkXzE3MjQ0MTEzNzQ6MTcyNDQxNDk3NF9WNA" alt=""><figcaption></figcaption></figure>

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

{% hint style="info" %}

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<br>

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

3. ### 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

{% hint style="info" %}
In the public round, participants can contribute SOL to purchase $NX tokens\
\
If contributions exceed the maximum cap, the overflow model will be applied
{% endhint %}

* **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)}]
$$

{% hint style="info" %}
**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
{% endhint %}

{% hint style="success" %}
**Unsold Tokens**:\
Any unsold $NX tokens after the public round will be **burned**, ensuring no excess supply remains
{% endhint %}

***

## **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

***

## TGE

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

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