How to participate in Single Finance’s Initial Gem Offering (IGO)
We’re sure you are as excited as we are! And we cannot be more excited to announce our Initial Gem Offering (IGO) — the first on VVS Finance’s Launchpad!
Many are familiar with VVS Finance but for those that are new to DeFi, VVS Finance is one of the largest DEX on the Cronos Chain with a rapidly growing community. VVS stands for Very Very Simple and the team, like us, is fully committed to making DeFi simple for all with low fees, fast transactions, and competitive earnings.
What is an IGO?
An IGO is an Initial Gem Offering, offered by VVS Finance’s Launchpad to enable projects like Single Finance to raise funds by offering our tokens. And for the community, it’s a great opportunity to access the exclusive sale of new tokens and purchase them at a fixed price as we launch on Cronos.
Dates and Details
Mark your calendars! Our IGO will begin on the 18th Jan 2022 at 12pm UTC.
The sale is open for 24 hours and ends on 19th Jan 2022 at 12pm UTC.
For more information, check out VVS’s medium post about the launch here.
- Dates: 18th Jan 2022 (12pm UTC) — 19th Jan 2022 (12pm UTC)
- Amount to Be Raised: $500,000 USD in CRO-VVS LP tokens
- Total Tokens for the Raise: 10,000,000 SINGLE (1% of SINGLE total supply)
- Price per Token: 1 SINGLE = $0.05 USD
Types of Sales
There are two types of sales for the IGO — ‘Gem Fair’ and ‘Gem Warehouse’. Here are the key differences between them, feel free to choose the one that suits your investment goals!
The Gem Fair accounts for 50% of the total sale.
Each person can commit a maximum of $200 USD worth of CRO-VVS LP tokens. To enter, there will be no participation fee but participants need to stake 10,000,000 VVS in any VVS Glitter Mines for at least 7 days before the Single Finance IGO sale. Please note to not split the stake amount between Mines.
Just before the sale starts, the value of the CRO-VVS LP token in USD will be set based on the market rate and will not change for the sale period.
Participants are free to allocate as much or as little as they want to the Gem Fair. In the case of oversubscription, the Gem Fair pool will cease accepting entries once the overflow reaches 5 times the amount to raise. The final allocation you receive will be subject to the total amount raised in this sale method.
The Gem Warehouse accounts for 50% of the total sale.
There will be no limits on the amount each person can commit for Gem Warehouse. Participants will be charged a participation fee based on his/her amount committed to the IGO. The participation fee will begin at a maximum of 1% (only applied to your contribution to the Gem Warehouse) and decrease to 0.2% when the pool reaches 200 times the Overflow from the Gem Warehouse. More on the “Overflow” method here.
We’re also happy to announce that we are collaborating with VVS Finance for our second AMA on their Discord channel! Tune in on January 7th 2022 at 1PM UTC and meet some of our founders and the VVS Finance team! We look forward to answering any questions you may have for us!
● VVS-SINGLE & SINGLE-USDC liquidity will be seeded immediately after the IGO sale.
● VVS-SINGLE with 0.3x Multiplier Incentivized Crystal Farms will start 30 minutes after the IGO sale. The Farm will last for 60 days.
● SINGLE-USDC with 0.2x Multiplier Incentivized Crystal Farms will start 30 minutes after the IGO sale. The Farm will last for 60 days.
● Stake VVS earn SINGLE Glitter Mine will start emissions roughly 30 minutes after the IGO sale. The Mine will last for 60 days.