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Yield Guild Games uses a Dutch auction model, while Tokemak has set up a 24-hour “Last Look” to allow users to exit unconditionally.
Written by: a poplar tree
Since April this year, the sudden emergence of Axie Infinity has completely brought the concept of “Play-to-Earn” (Play-to-Earn) into the public eye, and will open the IDO-published blockchain game community Yield Guild Games tonight In fact, as early as 2020, it was proposed to create a game community ecology of “playing and earning”. At present, more than 10% (about 3,600) of the members are senior players of Axie Infinity.
At the same time, the decentralized liquidity protocol Tokemak will also start its one-week DeGenesis issuance plan from today. Compared with the traditional token issuance model, Tokemak has set up a new 24-hour “Last Look” to allow users Unconditionally exit after subscription.
Next, let’s quickly understand the IDO participation rules and precautions of these two projects.
Yield Guild Games
Yield Guild Games: A DAO of “Play and Earn”
Yield Guild Games, born in 2020, is a game guild and decentralized autonomous organization (DAO) composed of tens of thousands of members who believe in and practice the concept of “Play-to-Earn” (Play-to-Earn). It aims to create the world’s largest virtual world by investing in “playing and earning” games to earn games and in-game assets, sponsoring millions of “playing and earning” game players, and creating tools to enhance the future of Metaverse games. The world economy ( “”Playing and Earning” Game Guild YGG business model is beautiful, what is the value?” ).
In Yield Guild Games, all participating members are investors and players . Among them, investors are responsible for the initial investment, players are responsible for participating in the game to make money, and the guild surplus is reinvested to purchase virtual assets and land in the game. YGG is the glue that holds it together .
The total supply of YGG is 1 billion, of which 45% (450 million) is allocated to the community for attracting new users and issuing pledge rewards. YGG will provide players with the right to participate and manage the direction of the guild. Anyone holding a YGG token can participate in DAO governance in proportion to the share of token supply .
In addition, YGG tokens can currently be used for the following purposes:
- Stake YGG to obtain token rewards related to the guild’s overall activities
- Stake YGG to obtain rewards related to specific activities, obtain exclusive content, participate in DAO voting and other activities, order exclusive products, etc.;
- Use YGG to pay for services in the network
IDO issuance of YGG token
Yield Guild Games will issue YGG tokens on the SushiSwap IDO issuance platform MISO at 22:00 (Beijing time) tonight. It is planned to last for 24 hours (if sold out in advance), it will adopt a Dutch auction model and will sell a total of 25 million. YGG , in the form of USDC , and the total amount of funding to be determined.
If you want to participate in this IDO, we need to log in to miso.sushi.com and connect to the MetaMask wallet, and then when the sales countdown reaches zero at 22:00 tonight, remember to refresh the page in time to access the corresponding page .
Then we can participate in the auction and use USDC to make an offer. The system is set, YGG initial price will start from 50 cents, and the price ladder descending from high to low according to pre-determined within 24 hours unless all tokens sold out in advance, otherwise the price would have been to fall within 24 hours 20 cents .
Therefore, during the quotation period, we can enter our bid at any time (there is no maximum or minimum bid limit), and all users including us can see the real-time price drop of the token and the number of current sales participants and the number of remaining tokens.
And when the 25 million YGGs are sold out, the final YGG price will be the same as the 25 millionth YGG sold, that is, all bidders will eventually be sold at the final bid (the lowest bid among all bidders) , so in Before the sale is completed, the final issue price of YGG will not be determined .
Correspondingly, after the final price is determined at the end of the sale, the YGG share we get = the amount invested / the total amount raised , the number of YGG obtained = the share obtained * the total auction total (25 million pieces) .
After the 24-hour token sale ends, we can revisit the page to claim tokens.
Tokemak: Decentralized Liquidity Engine
Lianwen gave a detailed introduction to Tokemak in early July. As a decentralized liquidity protocol, Tokemak’s goal is to create a decentralized liquidity engine that guides DeFi liquidity’s “cross-pool flow”, thereby creating a A market for sustainability, liquidity and capital efficiency.
Tokemak is composed of 3 core concepts, one is the Liquidity Provider (LP), the other is the Liquidity Director (LD), and the other is the Pricer (Pricer), which will be explained in detail below.
Tokemak not only hopes that liquidity will flow to large exchanges such as Uniswap, but also hopes to help some start-up decentralized projects provide liquidity, because start-up projects often require a lot of resources and energy to solve the problem of insufficient liquidity.
In Tokemak’s design, TOKE can be considered as “tokenized” liquidity. With TOKE, you have the right to determine liquidity , because TOKE holders can control the flow of liquidity and decide which market to obtain liquidity. That is, TOKE can be used to sustainably provide liquidity for the project:
- Users deposit idle token assets into the reactor to obtain TOKE income;
- Staking TOKE into a reactor can also obtain income;
- After the user pledges TOKE, the liquidity of the token pool assets can be guided to any place across the pool to reduce the spread and liquidity cost;
The total supply of Tokemak’s token TOKE is 100 million, of which:
- 30 million TOKE (30%): the release of mobile bet mining rewards (released in 24 months);
- 5 million TOKE (5%): to be issued in the “Cycle Zero” DeGenesis plan and the “CoRE” plan;
- 9 million TOKE (9%): DAO reserve;
- 16.5 million TOKE (16.5%): community contributor;
- 14 million TOKE (14%): team (12 months linear release);
- 17 million TOKE (17%): investors (12 months linear release);
- 8.5 million TOKE (8.5%): DAOs & Market Makers (12 months linear release);
DeGenesis issuance plan for TOKE
Tokemak will start a week-long public sale of DeGenesis on July 27th. The entry will be announced by the official Twitter and Discord account on the 27th . Each address will receive TOKEMAK at the same final price , and finally The price ranges from 2 to 8 US dollars , depending on the total amount of funds raised within a week .
In this issuance plan of Tokemak, only Ethereum addresses whitelisted through Discord can participate (connect to wallet addresses that have applied for whitelisting through Metamask, if the address is not on the whitelist, a connection error will be displayed), and the total will be sold 3 million T OKEMAK, the total funding limit is 48 million U.S. dollars , the maximum participation amount of a single address is 100,000 U.S. dollars , and the fundraising will be in the form of USDC .
The specific distribution rules are:
- The total amount of funds raised is less than 6 million U.S. dollars, the final price of the token is 2 U.S. dollars ;
- The total fundraising amount is between 6 million U.S. dollars and 24 million U.S. dollars, and the final token price is between 2 and 8 U.S. dollars ( total financing/3 million pieces );
- If the total amount of funds raised is greater than 24 million U.S. dollars (48 million U.S. dollars hard cap), the final price of the token is 8 U.S. dollars , and the portion exceeding 24 million U.S. dollars will be allocated to the Genesis Pool in a uniform proportion for priority pledge mining;
The most important thing is that after a week of IDO raises funds, each of our participating users will be able to determine the final token issuance price based on the total amount of funds raised, and then there will be a 24-hour “Last Look”:
- If we are satisfied with the final price and ratio, there is no need for any operation during the 24-hour “Last Look” , and the system will automatically confirm and complete the issuance ;
- If we are not satisfied with the final price and ratio, we can choose to unconditionally exit at any time within the 24-hour “Last Look”;
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