Over the last few months, things have been brewing in the background, as our team has been preparing for the blockbuster event of the year.
We’re excited to officially announce that the IDO for our native ITHEUM token is right on the horizon, which will be hosted as the second project to debut a token sale on Elrond’s Maiar Launchpad! To learn more about what you can expect and how to prepare, keep on reading below.
Token Sale Details
The IDO will be taking place on March 28, 2022, which will be an opportunity for the public to get in on the ground floor of our project. Things are about to heat up, and we invite our community to join us for the ride!
All up-to-date information can be found here on the Maiar Launchpad, including links to KYC and register: https://maiarlaunchpad.com/itheum/how-to-guide
Here’s a glance at the key information regarding the token sale:
- Available Tokens for Sale: 50,000,000 ITHEUM (5% of total supply)
- Total Raise: $2,000,000
- Price per Token: $0.04 / ITHEUM
- Total Token Supply: 1,000,000,000 ITHEUM
- Initial Token Supply: 166,250,000 ITHEUM
- Token Sale Format: Lottery
- Verification Method: KYC
Details regarding the rationale and token metrics can also be found here:
We’ll be using a lottery format that will initiate a random selection for the sale and record participant EGLD balances, which will need to be staked or delegated in order to qualify. Make sure you download an Elrond-supported wallet and are holding EGLD in order to enter — allocation sizes will vary and are determined through a tiered system:
Users will be required to purchase tickets using EGLD tokens, which will be priced at $200 USD equivalent. Tiers will allow users to purchase a certain amount of lottery tickets, as seen above in column #3.
Winning tickets will receive 5,000 ITHEUM tokens each, and tickets that are not selected as eligible to participate will be refunded to users after the draw has concluded (no-loss lottery format).
Below you can find key dates to lookout for in the coming weeks:
- March 9: KYC verification open (now live)
- March 25: KYC closes, address change disabled, EGLD holdings snapshot, and number of eligible tickets per address determined
- March 26: 24-hour period for eligible users to purchase lottery tickets
- March 28: Ticket buying closes — draw begins and winning tickets announced
Stay tuned for more to come on our social media channels and right here on Medium! We’ll be keeping our community in the know over the next few weeks as we approach the official IDO date.
Why the Maiar Launchpad?
Elrond’s Maiar Launchpad is designed to help teams create better technologies and products., acting as a catalyst for unique products created on Elrond. The Maiar launchpad will allow projects that launch on it access to decentralized funding from the platform itself, while also gaining access to Elrond’s vast ecosystem consisting of investors and community partners. The launchpad also offers projects feedback and support, allowing projects to improve, taking them to the next level.
The launchpad will act as a growth engine, allowing projects and products to leverage the Elrond blockchain, its technology, and the ecosystem. The features and accessibility provided by the Maiar launchpad makes it the ideal platform for the ITHEUM IDO, allowing Itheum to leverage the Elrond blockchain, its ecosystem, and technology.
ITHEUM Token Utility
ITHEUM is the native utility token that powers our entire network. It’s necessary to own the ITHEUM token for users who want to leverage several features on our Data DEX, as well as across the platform. The primary purpose of the token is to unlock access to data and trade, while also facilitating DAO Governance.
Moreover, users can also stake ITHEUM to gain relative governance voting rights in the Itheum Foundation (IF) DAO and also with bulk-data trading Data Coalition DAOs — by becoming a data quality verifier. The token has a maximum supply of 1,000,000,000.
Do you have questions or concerns about the KYC process? please read our KYC FAQ docs here: https://docs.itheum.io/product-docs/ido-faq
Itheum empowers data ownership in the Web3 and Metaverse ecosystems and creates new market value for your data. It enables this by providing “decentralized data brokerage” technology. It’s a suite of tools that enable high-value data to be bridged from web2 to web3 and then be traded via peer-to-peer sales. It allows for “viral adoption” via our creative “Data NFTs” (provide “inner value” to NFTs and enable royalties / limited supply) and “NFMe ID” technology (a living Metaverse avatar representation of you — wrapped as an NFT and backed by personal data) and our innovative Data Coalition DAOs (which bulk trades your data). It also aims to be fully privacy-preserving, regulation-friendly and cross-chain; making it the most comprehensive core blockchain data infrastructure available in the market with use-cases in both the enterprise and retail space.