We’re excited to announce Fusotao Protocol — A Verification Protocol using a new “execute off-chain, verify on-chain” model will be the first Launch event on WannaSwap Launchpad.
As you know, our IDO platform will follow by phases and the expected time for each phase:
- Staking Period: May 11, 1PM UTC
- Subscription Period: May 17, 1PM UTC
- Calculation Period: May 18, 1PM UTC
- Distribution Period: May 19, 1PM UTC
$TAO Price: $1 (0.095 wNEAR)
Total amount: 100,000 $TAO
Total fund to raise: $100,000 (9,500 wNEAR)
Vesting: 100% at TGE
Holding 3,000 $WANNAx is required
To participate, Users have to visit https://wannaswap.finance/launchpad and perform the following steps:
Step 1. Hold 3,000 WANNAx all the time to be able to join IDO. You can get WANNAx by swapping tokens on our DEX or stake WANNA here.
Step 2. Stake an amount of wNEAR during the Staking Period (you can unstake whenever you want) to determine the maximum amount of wNEAR you can use to commit during the Subscription Period.
For example, A stakes 100 wNEAR all the time of Staking Period (6 days), the maximum amount of wNEAR A can commit at Subscription Period is 100. B stakes 300 wNEAR in only 1 day, so the maximum amount of wNEAR B can commit is 300/6 = 50.
Step 3. Commit the amount of wNEAR you want to buy TAO tokens.
For example, at the end of Subscription Period, there are 20,000 wNEAR committed. A committed 100 wNEAR, so the amount of $TAO A purchases is (100 / 20,000) * 100,000 = 500. But you can see at price 0.095 wNEAR, total wNEAR A has to pay is 500 * 0.095 = 47.5, so A will be refunded 52.5 wNEAR when claiming.
Step 4. Check the results and claim your purchased tokens when the time comes.
To better understand WannaSwap Launchpad, check here: https://wannaswap.medium.com/wannaswap-launchpad-the-start-of-potential-projects-on-aurora-8152bd3362a1
