Initial Farm Offerings (IFOs)
Current as of 30 October 2024
Disclaimer: This is NOT financial advice…
IFO and an Example
For the upcoming IFO, users will have 48 hours to stake their XTZ before the IFO closes. Once the IFO closes, users will be deducted a fee based on the amount of IFO tokens they are farming. Below are two examples:
Example 1:
IFO project funding goal: $100,000
Total actual XTZ value staked: $200,000
This IFO was 2x over subscribed so users will only be able to farm half the amount they staked.
User 1 staked value: $10,000
User 1 fee: $5,000
User 1 returned XTZ value: $5,000
User 1 will farm $5,000 worth of the IFO token over a period of 15 days.
User 2 staked value: $1,000
User 2 fee: $500
User 2 returned XTZ value: $500
User 2 will farm $500 worth of the IFO token over a period of 15 days.
Example 2:
IFO project funding goal: $100,000
Total actual XTZ value staked: $50,000
This IFO was 50% under subscribed so users will only be able to farm all of the value they staked.
User 1 staked value: $10,000
User 1 fee: $10,000
User 1 returned XTZ value: $0
User 1 will farm $10,000 worth of the IFO token over a period of 15 days.
User 2 staked value: $1,000
User 2 fee: $1,000
User 2 returned XTZ value: $0
User 2 will farm $1,000 worth of the IFO token over a period of 15 days.
Immediately after the sale, liquidity will be added to Quipuswap and trading will begin. At that point, all tokens will be distributed to users over a 15-day farm. During this period, you may harvest tokens as they accrue. The entire allocation a user secured during the IFO phase will be distributed over those 15 days.
Do I Need to Stake CRUNCH to Participate?
Nope! CRUNCH does not need to be staked or locked anywhere to participate in an IFO. Currently, projects launching on Crunchy will incur a 5% launching fee based on the amount of funds raised. We will use 50% of the launching fees to buy back and burn CRUNCH while the remaining 50% of the launching fees will be placed into the $crDAO treasury.
The PixelPOTUS $PXL IFO
Our first launch on Crunchy will be the highly anticipated $PXL token by the PixelPOTUS team. They are excited to be the first to launch under the new IFO model and Crunchy platform.
IFO will go live 30 October 2021 at 1400 UTC!
For this particular launch, we will not be using a LP pair and will only require $XTZ to stake in the IFO to participate. We want to make the transition as easy as possible to give everyone a feel for the process. Many were confused on how the previous $CRUNCH LP IFO process played out, so we want to give users plenty of time to become familiar with it. For the future however, we will be moving towards using $CRUNCH LP, where the $XTZ from the sale will be used as funds raised and a portion of the $CRUNCH will be burned. This adds a deflationary aspect to the $CRUNCH token, on top of giving it some further utility.
We will be releasing a ton of new info about the merger, the IFO process, and many other things to come on the Crunchy platform! As always, we appreciate all of your support and hope to continue our pursuit of delivering the best possible product to our users!
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