Welcome to Infinity! We are happy to announce more details about the IDO!
We are planning to hold an IDO, in order to raise a total amount of $500,000 USDT, at the price of $5 USDT per IND.
1000 whitelist spots would be distributed to Genesis Chain (GC) and discord community members. Whitelisted participants are given access to the IDO for a period of 24 hours.
Each of them can purchase an EXACT amount of $ 500 USDT worth of IND. Participants in the IDO will receive alphaIND tokens and they can swap their tokens for IND at a ratio of 1:1 after the token is listed. The date of IDO and token listing is to be announced later.
The team plans to allocate the funds raised (USDT) during the IDO event as follows:
- $200,000 USDT (40%) to create the liquidity pool at a rate of 1 IND = $8 USDT. The LP tokens will be locked in the treasury.
- $200,000 USDT (40%) for the treasury, securing the intrinsic value of IND.
- $100,000 USDT (20%) for the project team, to ensure robust and continued development, marketing, etc of the project.
Every Genesis Chain (GC) is allocated with 9 whitelist spots and 3 of them will be locked for 1 month. Discord members can participate in the community challenge and giveaways to win the whitelist spots. Whitelisted users would be given the role of “Glory - WL” on Discord.
100,000 IND (at $5 USDT per IND) is allocated for the IDO.
Infinity’s initial treasury will hold $200,000 USDT tokens. This portion of the treasury will be used to create a stable foundation. It will also include $400,000 USDT worth of IND/USDT LP tokens. This brings the total value of Infinity’s initial treasury holdings to $600,000.
125,000 IND tokens will be minted initially:
- 100,000 IND tokens (at the price of $5 USDT) of which will be issued to IDO users.
- 25,000 IND tokens (at the price of $8 USDT) will be added to the liquidity pool, which is worth $200,000 USDT.
It means IND will be backed by $4.8 USDT of value at launching. (As a reminder, the IDO price will be $5 USDT per IND).
We choose not to allocate any IND tokens to the team.