LINK TO THE AUCTION WILL BE ANNOUNCED ON 11th OCT, FOLLOW OUR TWITTER
TL;DR
- Strips Finance is the first derivatives DEX to unlock fixed interest rates trading within the DeFi ecosystem.
- The project is backed by Multicoin Capital, Sequoia Capital India, Mechanism Capital, Crypto.com, among many others.
- The $STRP token sale will be conducted on the MISO platform on Wednesday, 13th October 2021 10am EST.
Auction Details 👇
- Start time: October 13, 2021 at 10:00am EST (10:00pm SGT)
- End time: October 14, 2021 10:00am EST (10:00pm SGT)
- Highest Bid: $5 per STRP
- Lowest Bid: $1 per STRP
- Auction Supply: 750,000 STRP (0.75% of supply)
- Currency: USDC
- Duration: 24hrs
- Auction Method: Dutch Auction
- Auction link: TBA on 11th October (check our twitter / telegram / discord)
edit: view this tutorial video on how dutch auctions work.
Strips Finance ($STRP) will be conducting an Initial Dex Offering (IDO) via MISO by Sushiswap for a duration of 24 hours starting on 13th October at 10:00am EST / 10:00pm SGT and ending at October 14, 2021 10:00am EST / 10:00pm SGT. The Strips x MISO Token sale will be running in conjunction with the our Polkastarter Token sale, which you can read more about here.
LINK TO THE AUCTION WILL BE ANNOUNCED ON 11th OCT, FOLLOW OUR TWITTER
What is Strips?
Strips is the first-ever interest rate derivatives exchange launching on Arbitrum and BSC. Built on the idea that interest rates are the metarule in finance. Strips allows users to trade, and leverage on interest rates. Future products include interest rate derivatives, structured products and fixed income products.
Our vision is to accelerate the transition of finance towards a decentralised future as the DEX to trade interest rates. We have put together a first-class team of financial engineers, portfolio managers, and solidity developers to bring this dream to reality. We invite you to join us in our DeFi revolution. Our backers include Mechanism Capital, Crypto.com, DeFi Alliance and others.
The IDO process is designed to put STRP in the hands of our community. To ensure a fair and transparent launch of STRP tokens, we have decided to launch on MISO and Polkastarter. The STRP tokens will have an innovative token value capture system and be an integral element to the Strips ecosystem.
The IDO Process
The Strips IDO will be conducted on MISO by Sushiswap.
Steps to participate:
Note we recommend using Chrome + Metamask to participate in the sale.
- Make sure you are connected to the Ethereum network
- We will announce the link on October 11, follow our twitter
- Users are able to deposit USDC starting from October 13, 2021 at 10:00am EST ( 10:00pm SGT) up until October 14, 2021 10:00am EST (10:00pm SGT)
- Once the pool has been filled, the auction process will end and STRP tokens will be distributed based on the closing price
- STRP tokens will be claimable after October 14
Token Distribution
- Community: 50%
- Treasury: 15%
- Team: 15% (3 year vesting)
- Seed Round: 10% (3 year vesting)
- Private Round: 10% (2 year vesting)
Max Initial circulation: 4.71m Tokens
After the successful completion of both MISO and Polkastarter public sales, there will be a maximum of 4,718,000 tokens in circulation representing a fully diluted market capitalization between $500 million and $100 million, depending on the final token price.
The higher the valuation of the STRP token as a result of the public sale, the higher the value of community rewards that will be distributed to Strips users in the coming weeks and months.
We are extremely excited to mark this milestone in our journey and even excited to welcome new community holders onboard. To learn more about our project and keep up to date with the latest news, follow us on twitter and visit our website https://strips.finance.
