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