Solona-based Genopets has unveiled that its upcoming GENE token public raise will take place on November 17th, 2021 at 12:00 UTC with an IDO on Raydium. Eligible wallets will be able to purchase GENE tokens at a fixed price of 0.80 USDC for 1 GENE. The GENE token is central to the staking and governance of Genopets, along with granting access to future VIP content.
Genopets aims to build the world’s first move-to-earn RPG that ‘rewards you for exercising your mind and body’. Real-world movements captured by smartphones or fitness trackers will be turned into KI tokens, which are then used to upgrade your Genopet and carry out other value-enhancing activities. GENE tokens handle governance and staking, while both tokens work together to craft Gene Crystals that evolve your Genopet.
Now, what is happening with the GENE public raise and IDO? The GENE public raise will begin on November 17th 12:00 UTC, while the GENE IDO will start on November 18th 12:00 UTC.
What’s Available with Genopets Public Raise?
Let’s talk about the GENE public raise first. The public raise will take place on Raydium’s AcceleRaytor platform, which is powered by the Solona blockchain. The details for the public raise are:
- 500,000 GENE available for sale (0.5% of the total GENE supply)
- Fixed price of 0.80 USDC for 1 GENE
You will need to win a lottery ticket that allows you to buy 100 GENE for 80 USDC. There will only be 5,000 winning tickets distributed randomly to those who meet the criteria.
Hopefuls will need to participate in one RAY pool that will be created for this event. The pools open on November 17th, 12:00 UTC, and close on November 18, 00:00 UTC. That’s right, you’ve 12 hours to make your move.
Make Sure You’re Eligible for the GENE Public Raise
If you weren’t included in the snapshots taken for this event (final snapshot taken November 10th 12:00 UTC), you’ll be left to buy your GENE tokens the next day when the IDO begins. There were two ways that users could become eligible for the Genepets public raise:
- 7-Day Deadline: Have a minimum of 100 RAY in single-sided staking prior to the 7-day deadline (you would’ve had to stake on November 3rd at the latest),
- 30-Day Deadline: Same requirements as above, but for at least 30 days. The snapshot was taken on October 18th, so this is to reward long-time RAY stakers.
If you suspect you meet either or both thresholds, visit Raydium’s official announcement for more specifics on how many tickets you might be getting.
Don’t Worry – The GENE IDO is for Everyone Else
I’m not going to lie, when I was reading this announcement I was a bit disappointed to discover that I’m already ineligible for the public raise. Fortunately, the GENE IDO launches on Raydium on November 18 at 12:00 UTC.
The token will start at 0.8 USDC for 1 GENE. Those lucky lottery ticket winners from the public raise will be able to redeem their tickets at approximately the…
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