HaloDAO IDO Important Updates 🚨
Important Updates
On June 24, 2021, HaloDAO Protocol will officially launch its Governance Token $RNBW on miso.sushi.com, Crowdsale Auction, which will last for 48 hours.
Here are the latest important updates to take note… 🚨
We would like to thank all our community members for their active support and patience. At HaloDAO, we believe in decentralisation. We are thankful that our community is aligned in this objective. One of the points for Community discussion was the hard cap for our IDO.
The previously announced figure was valued at $1,000 hard cap.
Concerned community members proposed that the hard cap be reduced so as to increase wider distribution. A telegram poll was conducted on the HaloDAO Community Telegram Chat and the results showed that there was an overwhelming support for a lower hard cap.
The core team has heard the community and we shall act.
Following the Community’s mandate, we will be reducing the hard cap to 650 DAI and extending the IDO duration from 24 hours to 48 hours.
This ensures we can achieve the goal of wider distribution while balancing the consideration that the Protocol requires sufficient buying power to complete the auction at 1,000 community whitelisted member participation.
HaloDAO is committed to decentralisation and we emphasise that we are committed to working with our community to build the next phase of crypto expansion.
What You Need to Know During the Crowdsale
Step One: Enter MISO Launchpad (https://miso.sushi.com/)
Step Two: Connect your MetaMask or other compatible wallets via Wallet Connect. — Ethereum Mainnet — to MISO.
- Select the “CONNECT” button at the top-right of the page
- Please note that MetaMask & Wallet Connect are the only wallet supported on MISO
- Please note, you should have ETH in your wallet to pay for gas. You may find out the appropriate amounts of ETH to hold for gas on https://etherscan.io/gastracker
Once a wallet is connected, users will be able to see and interact with the Market specifics panel pictured below:
**The SAKE Auction test example used above is for explanatory purposes only.**
Please note: Once live, the information of the IDO will open up on the right hand side of the page, replacing the countdown column and allowing participants to begin transacting with the Auction contract.
Please ensure you have DAI in your wallet to participate in the Auction!
Please note this is a test transaction on test net. It does not represent the HaloDAO IDO.
Step Three: Indicate the amount of RNBW tokens that you would like to APPROVE the spending limit for. You can only approve within the max cap of 650 DAI. You will have to sign that transaction.
Step Four: Once the Approve spend has been confirmed, you may commit the amount of tokens you would like to obtain. You will be able to verify if the transaction is completed on etherscan.
Claiming Your $RNBW Tokens
Your tokens will be held by the auction contract until the parameters are met for the auction to end. The core team will inform the community that the auction has been finalised and you will be required to return to the Miso link to claim your tokens. For an unsuccessful auction, MISO will simply return your previously committed funds — less any fees.
MISO Token Distribution Event Details
- Start: June 24, Thursday, 1200hrs UTC
- End: June 26, Saturday, 1200hrs UTC
- Platform: Sushi Miso
- Type: Crowdsale
- Total number of tokens sold: 1,000,000 RNBW representing 1% of total token supply
- Price Per Token: $0.35
- Maximum Allowable Commitment: 650 DAI
- Raised Currency: DAI
- Format: First Come First Serve
To ensure a fair token launch compliance to our legal terms, only approved whitelisted addresses subject to KYC will be allowed to participate. RNBW tokens can only be claimed at the end of the auction time, when the Auction contract is finalised by HaloDAO. Therefore, even if the Crowdsale has sold all its tokens ahead of time, participants are required to wait for the finalisation at the end of the Crowdsale before they can claim their tokens.
Funds raised will be used to give out grants from the DAO to advance the Protocol objective of building on top of HaloDAO to drive DeFi consumer adoption and the proliferation of local stablecoins.
Tokenomics
Investor tokens will be released month by month. Whereas team tokens are streamed to team members from team token multi-sig via sablier.
What is HaloDAO?
HaloDAO is building a stablecoin optimised Automated Market Maker and Lending Market. The Protocol mandate is to develop asset-agnostic money market fund infrastructure on which teams can build upon to drive greater DeFi mass adoption.
HaloDAO Protocol will be launching its Version Zero for liquidity mining soon after our IDO. Our Version One for full AMM + Lending Market will be deployed in late August, 2021.
HaloDAO previously fundraised $3.5m led by Parataxis Capital with participation from notable investors, including, QCP Capital, Spartan Group, Genesis Block Ventures, CMS Holdings, NGC Ventures, Petrock Capital, Ledger Prime, GBIC, Genblock, AU21 Capital, TDX Strategies.
To keep up to date with HaloDAO Developments, please follow our socials:
- Telegram Community: https://t.me/HaloDAO
- Telegram Announcements: https://t.me/halodaoannouncement
- Medium: https://medium.com/halodao
- Gitbook: https://docs.halodao.com
- Discord:https://discord.com/invite/frY97mxD5j
