Plasma sale clarified: deposits vs Sonar ICO, unit allocation and lockups
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Market since$XPL−94%since listingHow it played out ↓Clarifies that opening deposits is not the Sonar sale: units from deposit size and duration set the ICO allocation, with the sale itself requiring KYC and 10% of XPL supply sold.
Key claims
10% of XPL supply ($50M) is sold
Sale on Sonar requires KYC
XPL for sale participants locked 12 months
Feels like there is still some confusion around the @PlasmaFDN sale, so attempting to clarify:
- Deposits opening today ≠ Sonar sale
- Deposits will open on t.co/jwylPkvdeX
- Units earned (based on size + duration of deposit) will determine your ICO allocation
- Sale on Sonar by @echodotxyz (the actual ICO) will happen later and requires KYC
- 10% of $XPL token supply ($50M) will be sold
- Deposited stables will be bridged to & withdrawable from Plasma mainnet later
- $XPL tokens for sale participants locked for 12 months
All other details below.
QUOTING @zerokn0wledge_
Less than one hour left until @PlasmaFDN opens deposits. Are you ready anon? TL;DR on how Plasma's four-stage lockdrop/sale process works exactly: ➀ Deposit Period: - Deposit stablecoins on Ethereum mainnet - Earn units based on deposit amount & duration. - Withdrawals allowed
Less than one hour left until @PlasmaFDN opens deposits. Are you ready anon? TL;DR on how Plasma's four-stage lockdrop/sale process works exactly: ➀ Deposit Period: - Deposit stablecoins on Ethereum mainnet - Earn units based on deposit amount & duration. - Withdrawals allowed
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