Greetings to all members of our amazing SpaceSwap community!
Due to the increased activity around the “SIDUS IDO” project that has been launched on 7 different IDO platforms including SpaceSwap Starter we received a large number of comments regarding its procedure on the SpaceSwap side. The SpaceSwap management team would like to make some official comments.
From the very beginning of our work in September 2020, we have been one big team of DeFi enthusiasts, united by the goal of doing real development, trying new things, experimenting, moving towards our main goal - to create a DeFi aggregator that will collect the most interesting products from the industry. From the very beginning, it was clearly mentioned that this is a self-funded project aimed at continuous work and DeFi developments. One of our major strong points is a team full of dedicated people working nonstop 24/7 to make interesting products. Our second strong point has always been our community. A lot of things that we have already done or improved, simply would not exist without you.
The launchpad product “SpaceSwap Starter” is another cool development that we have recently started to make from scratch. Initially, it was designed to be a small platform with modest allocations and an extra use case for the native MILK2 tokens which our users may also receive as farming rewards.
When such a large-scale and ambitious project as “SIDUS” was born in our ecosystem, we wanted to make a gesture of respect to our community and allocate some number of tokens to its members. We appreciate all of your excitement about this revolutionary GameFi P2E project, however it's also important to mention that nobody expected such an amount of attention towards our game, as it was not easy to predict at all.
In the last few days, we received many complaints that the number of possible participants in the token sale is not enough.
Let’s go through some facts:
1) We published a very clear guide on 9.11.2021 https://blog.spaceswap.app/tpost/dypyo7hg51-spaceswap-starter-on-binance-smart-chain as to how our launchpad works. It clearly states that staking or owning MILK2 tokens does not guarantee any allocations — in order to participate in any IDO you must register first. Here is a clear text stating it: ‘Registering for the sale Staking MILK2 tokens alone does not enable you to participate in the sale, nor does it oblige you to do so. After staking your tokens, you will need to register for the sale’
2) We have also published a detailed FAQ via the following link in telegram: https://t.me/SpaceSwap/111241. In this FAQ, Q5 answers your questions very clearly: ‘Q5 Will I be guaranteed an allocation after staking? Answer: Staking MILK2 tokens alone does not get you into the sale, nor does it oblige you to participate. After staking your tokens, you will need to register for the sale. Personal allocations will be calculated according to the proportion of MILK2 staked by registered participants. All the REGISTERED users will get an allocation. BUT THE NUMBER OF PARTICIPANTS MAY BE RESTRICTED TO GUARANTEE PROPER ALLOCATIONS. All the details will be announced through official channels.’ We have an impression that many people do not read announcements carefully, which causes some confusion among them. All launchpads have their own terms and conditions and we kindly ask you to read terms and conditions.
We want to remind everyone that right now there are 500 registration slots for the "SIDUS TOKEN" and 500 slots for the "SENATE TOKEN". The same address can register for both sales when the start of registration is announced. If both sales get different addresses, the total number will be 1,000 participants. This is done in order to allow users to have good allocation sizes, not some tiny ones like on other launchpads.
Right now: If all users have the same stake (for instance, everyone stake 10,000 MILK2), the average allocation will be $110 for one participant. The minimum allocation for one user will be $27.54. This would happen in the event that this user stakes the minimum amount of 5,000 MILK2 and all the other registered users stake the maximum amount of 20,000 MILK2. The maximum allocation of $437.38 will occur if a user stakes the maximum of 20,000 MILK2 and every other registered user stakes the minimum amount of 5,000 MILK2. We settled on this number in order to provide the proper allocation for each individual address. However, we are ready to consider other options as well as per your requests. WE ALWAYS LISTEN TO OUR COMMUNITY AND NEVER IGNORE YOUR IDEAS.
Below are the allocation options in case we increase the number of participants to 700 and 1,000 for each of the campaigns.
1,400 participant slots for both tokens / 700 participant slots per 1 token IDO: MIN - $19.66 Average - $78.57 MAX - $312.94
2,000 participant slots for both tokens / 1,000 participant slots per 1 token IDO: MIN - $ 13.76 Average - $ 55.0 MAX - $ 219.34
We propose to conduct a community vote for one of the options:
Do not change anything
Raise up to 700 participant slots per sale (1,400 total)
Raise up to 1000 participant slots per sale (2,000 total)
We also kindly remind you the distribution details for both $SIDUS and $SENATE tokens: Token distribution: TGE — 10% Monthly vesting — 10% (10 month for full unlock)
Since the IDO will run on the BSC network, we will conduct a BEP20 MILK2 voting.
A snapshot of the vote will be conducted and the voting will start today (07.12.2021) at 10:00 am UTC. At this point, BEP20 MILK2 tokens should be on your balance sheet.
Voting will continue for 24 hours.
We’ll post the link once the vote is published.
We thank you for your feedback and look forward to further cooperation. However, we want to remind everyone that you always have to do your own due diligence and check all pros and cons with whatever you do. Participation in any DeFi project is always your own decision based on your own research and expertise, including participation in the sale according to the terms indicated by the site.
Voting
Due to the increased interest from the SpaceSwap community towards the upcoming SIDUS HEROES IDO we initiate a DAO voting on whether to change the number of participant slots or not.
Note that one user can participate in both IDOs ($SIDUS and $SENATE). In case of changing the number of participant slots, the amount of allocations (minimum, average and maximum) will also change to the following:
1,400 participant slots for both tokens / 700 participant slots per 1 token IDO: MIN - $19.66 Average - $78.57 MAX - $312.94
2,000 participant slots for both tokens / 1,000 participant slots per 1 token IDO: MIN - $ 13.76 Average - $ 55.0 MAX - $ 219.34
We propose to conduct a community vote for one of the options:
Option 1 Do not change anything
Option 2 Raise up to 700 participant slots per sale (1,400 total)
Option 3 Raise up to 1000 participant slots per sale (2,000 total)
Voting will continue for 24 hours and will be terminated at 10:00 am UTC 08.12.2021. Make sure to have BEP20 MILK2 on your balance sheet in order to be eligible for the voting, since the IDO will be conducted on the BSC network.