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May 3
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4 min read
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The $CETUS IDO is Coming！
TL;DR:
- IDO Start: 10:00 UTC, 7th May 2023
- IDO End: 10:00 UTC, 9th May 2023
- IDO Supply: 20,000,000 $CETUS (2%)
- Hard Cap: $1,000,000 in $SUI token
- There are whitelists, but whitelist is not a must. All users can participate.
- All users are served with the same price in $SUI token.
- 70% of the raised $SUI will be used as initial liquidity; 30% used as $xCETUS staking rewards.
We know a lot of people are waiting for this, so we can’t wait to let you know this big news right before our mainnet launch on Sui. Yes, the $CETUS token will be issued natively on Sui mainnet and its IDO will be hosted soon on Cetus own platform. Here are all the details of the IDO and whitelist policy.
IDO RULES:
We try to make it as simple as possible. The public sale will be conducted at a fixed price in $SUI token, with a hard cap to be set at $1,000,000 (in SUI). Users can commit SUI tokens in the pool to participate in the IDO.
It’s not necessary to be whitelisted to participate in the IDO but there will be whitelisted users indeed. All users are served with the same price but a whitelisted user will have a corresponding protected quota. The protected quota from whitelisted users will be first traded during the final settlement. There is also a maximum total Whitelist Quota to prevent oversubscription from whitelisted users.
When the total committed amount from all purchasers in the IDO is less than the Hard Cap (less the utilised Whitelist Quota), each purchaser’s committed amount will be fully accepted.
When the total committed amount from all purchasers in the IDO exceeds the Hard Cap (less the utilised Whitelist Quota), each purchaser’s final purchase amount accepted by the Seller will be a portion of their committed amount, calculated proportional to all the respective committed amounts from all purchasers in the IDO.
IDO SCHEDULE & PARAMETERS
- IDO Start: 10:00 UTC, 7th May 2023
- IDO End: 10:00 UTC, 9th May 2023
- Token Claimable from: 10:00 UTC, 9th May 2023
- Trading Pool Setup on Cetus: 10:00 UTC, 9th May 2023
- IDO Token Supply: 20,000,000 $CETUS
- IDO Price: $0.05 in $SUI (Final price in $SUI will be released one day before the IDO according to the ongoing $SUI token market fluctuations.)
- Hard Cap: $1,000,000 in $SUI token
- Raised SUI Usage: 70% will be seeded to $CETUS-$SUI liquidity pool as initial liquidity. 30% will be used as $xCETUS staking rewards for the first 3 months.
ABOUT WHITELIST:
As mentioned above, it’s not necessary to be whitelisted to participate in the IDO but there will be whitelisted users. Each whitelisted user will have a particular protected quota, and the protected quota will be filled with priority during the IDO final settlement. To avoid oversubscription from whitelisted users, a total Whitelist Quota is set as 60% of the hard cap. If a whitelisted purchaser commits more than its protected quota, or the committed amounts from all whitelisted purchasers exceed the total Whitelist Quota, the excessive committed amounts from whitelisted users will follow the ordinary calculation.
In a word, regardless of whether you own a whitelist or not, there will always be at least a part of your committed amount to be filled. However, in order to get a higher protected quota, applying for the whitelist is a smart choice. See the whitelist categories and participation methods below:
Three Levels of Whitelist
- The final protected quota will be calculated in SUI tokens.
Whitelist Distribution
How To Get Whitelisted?
a. TVL Campaign
- We are going to conduct snapshots for all liquidity providers’ positions on Cetus (Sui mainnet) from May 4 to May 7.
- The first 1,400 unique wallet addresses (according to participation time) that provide liquidity higher than $1000 value on Cetus will each receive a Level 1 or Level 2 whitelist randomly (Level 1 x 1200, Level 2 x 200).
- The top 50 effective addresses with the highest time-weighted average TVL will each receive a Level 3 whitelist.
- For effective address evaluation, only the liquidity provided for $SUI-$USDC, $USDT-$USDC, $ETH-$USDC pools will be taken into account. Besides, if the position turns inactive temporarily, its price range shall not deviate from the current price by more than 30%.
- All above criteria will be evaluated on Sui mainnet.
b. Community Engagement
- We are going to snapshot the XP rankings on our official Zealy (formerly Crew3) on May 6
- There are a total of 30 Level 3 whitelists that will be given to Cetus ambassadors and the top ranking questers on our Zealy.
- The next 150 questers on the top of our Zealy ranking list will each receive a Level 2 whitelist.
- The next 900 questers on the top of our Zealy ranking list will each receive a Level 1 whitelist.
Reference: Zealy - Join the movement
c. Marketing Collaboration
We are going to work with a number of ecosystem partners, media platforms and social communities on Sui to give away the remaining whitelists (900Level 1, 150Level 2, 20*Level 3).