Mark November 1, 2021 On Your Calendar - THORSwap IDO Hosted by THORStarter
THORSwap, powered by the THORChain blockchain, is one of the premier multi-chain, decentralized cryptocurrency exchange platforms. THORSwap permits its users to make cross-chain swaps in native tokens in a permissionless, trustless, and non-custodial manner [see, e.g. Nagoda, K. How Does THORChain's Cross-Chain Trades Work (The Mechanics Behind the Trade). (Accessed October 27, 2021)]. THORStarter, the THORChain based decentralized IDO launchpad and venture DAO, will fund and launch the THORSwap THOR token IDO [for more information on THORStarter, see, e.g. Nagoda, K. THORStarter (XRUNE) - A New Addition to THORChain Worthy of Much Attention. (Accessed October 27, 2021)]. The THOR token will be available on THORStarter for the public on November 1, 2021.
It is the purpose of this article to provide all of the relevant information concerning this important IDO, including the Pre-IDO steps and Day of IDO steps necessary to participate, as well as an overview of the THORSwap tokenomics. This article is published as a supplement to the THORChain Coin Guide and as a contribution to the Alpha Project - #LeoAlpha advanced by @khaleelkazi.
REQUIREMENTS TO PARTICIPATE IN THE THORSWAP THOR TOKEN IDO
***THOR TOKEN IDO OVERVIEW
- DATE/TIME: November 1, 2021 / 2:00 PM UTC.
- LOCATION: https://thorstarter.org/.
- STRUCTURE: Overflow/Batch Sale.
- ALLOCATION: 10,000,000 THOR tokens (2% of total token supply)
- RAISING: $750,000.
- PRICE: $0.075.
To participate in the THOR token IDO, two items will be required: XRUNE and vXRUNE:
- XRUNE: XRUNE may be easily purchased on either SushiSwap or THORSwap. Recommended wallets for use in this IDO are either Metamask or XDeFi.
- vXRUNE: vXRUNE may be obtained by locking 100 XRUNE on the governance page of THORStarter. By this staking, you will 'make a profile' in THORStarter's Valhalla Venture DAO. Once you are a member of the Vahalla Venture DAO, you may utilize additional XRUNE to participate on IDO day and receive your THOR tokens.
On November 1, 2021 at 2:00 PM UTC:
- Go to the THORStarter website and select the 'IDO' tab found in the top of page menu bar.
- Connect your wallet (click on button at top right of page).
- Select THOR token IDO.
- Choose your desired investment size (maximum cap $300.).
- Deposit respective payment in XRUNE tokens.
- Receive THOR tokens several days following the IDO.
Based upon a review of the foregoing, participation in the THORSwap IDO appears to be an easy and prospectively painless, aggravation free endeavor.
THORSwap has provided a comprehensive examination of its tokenomics which may be summarized as follows:
BASICS AND GOALS
The evolution of the THORSwap protocol is dependent upon the issuance of its new native token. The THOR token will serve as a governance token, utility token, and proof of membership token for the platform.
The design of the THOR token has been optimized by THORSwap to achieve the following goals:
- Progressively decentralize the platform to majority community ownership.
- Govern the platform in a decentralized fashion.
- Provide incentives for trading.
- Fund growth.
- Complement and accrue value to the RUNE token and all other ecosystem assets.
WHAT IS THE UNDERLYING NEED FOR THIS TOKEN?
All healthy and well functioning markets require both liquidity and trading activity. RUNE, the native token for THORChain was designed to optimize and incentivize liquidity in the ecosystem. In similar fashion, THOR has been designed to optimize and incentivize trading activity in the ecosystem. Accordingly, introduction of the THOR token is necessary for the health of the ecosystem and to permit the system to operate in a well functioning and efficient manner.
CORE PRINCIPLES OF THOR TOKENOMICS
- COMMUNITY REWARDS: The THOR token will help to align and bring together a large group of interested and responsive community members.
- DECISION MAKING: The THOR token by design aids community decision making by decentralizing governance.
- REVENUE: To construct a revenue model which is a sustainable revenue model for the benefit of the community.
- USER LOYALTY: To foster user loyalty by offering airdrops, trading discounts, and the like.
EARNING THOR TOKENS
THORSwap and the THOR token will be community majority owned with 65% of its tokens distributed to the community at large. A huge percentage of the total supply is reserved and allocated for community incentives to be distributed across a wide variety of activities such as: airdrops; LP rewards; trade mining rewards, trading fee discounts; staking; and, more activities to be announced in the future.
To fulfill the core principles and goals of THORSwap as mentioned above thereby ensuring a fair, balanced and equitable distribution of THOR tokens, weighting of the community distribution is to be seasonally adjusted. The contemplated seasonal adjustments will be made by review of closely tracked metrics with the eventual determination being made through community governance.
There will be a maximum supply of 500,000,000 THOR tokens emitted over a period of four years. By the end of this four year period, 65% of the total token supply will have been distributed to the community at large (Community incentives, airdrop and fundraiser).
The stated purpose of this article was to provide you a guide to assist both your decision on whether to participate in the THOR token IDO and the basic steps necessary to effect participation should that be your choice. Whether or not you choose to participate in this IDO, best of luck to you.
- Your author holds a long position in THORChain (RUNE) and intends to take a long position in THORStarter (XRUNE) prior to November 1, 2021.
- The content herein is presented for educational purposes only and should not be construed as investment advice. Any loss incurred as a result of investing in THORStarter (XRUNE) is yours and yours alone and may not be imputed to this author. Any foregone gain incurred as a result of not investing in THORStarter (XRUNE) is yours and yours alone and may not be imputed to this author.
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