Only1 Private Sale Token Offering on Convergence Finance
Convergence Finance is pleased to announce the public sales of Only1’s private tokens on Convergence Offering (ConvO). This offering will kick start the Solana-based Private Sale Token series, which they announced earlier this month. The Convergence team is dedicated to democratizing private and illiquid assets, and the Only1 offer is part of the efforts of making private asset investment available to everyone. Only1 is the first NFT-powered social platform built on the Solana blockchain, its native token $LIKE is the core element of the Only1 ecosystem and the backbone powering the Only1 economy.
Private-Sale Details
Timeline
How to Subscribe?
Like our previous offerings, there will be two pools for the upcoming Solana-themed offerings on the ConvO platform — public and premium. There is no specific requirement to participate in the public pool. However, to ensure their long-term supporters have fair access to the offerings, there will be a premium pool as well. There are three main ways to qualify for premium access:
- Stake 50,000 CONV;
- Stake 50,000 CONV worth of CONV-ETH LP at ConvPool; or
- Stake 50,000 CONV worth of CONV-USDT LP at ConvPool.
Regardless of how users are participating in the premium pool, users must stake their CONV/LP tokens with an average of at least seven days before the KYC is sent to successful whitelisted addresses, which is from 25 August 2021 8:00 UTC to 1 September 2021 8:00 UTC, to secure a spot in the premium pool.
Whitelist applicants’ wallets will be reviewed to ensure that sufficient CONV tokens are in the wallet, and meet the above conditions. This additional requirement is to avoid any last-minute purchase of CONV tokens only to participate in the premium pool and protect long-term CONV holders’ interest.
As they move closer to the date of the whitelist open, the Convergence team will release the whitelisting application website through official Twitter and Medium for details, so please stay tuned.
Why is the Price Lower?
The price is determined by the average daily closing price of the LIKE token of the past seven days from 17 August 2021 to 23 August 2021, plus a 50% discount and considered the six-month lockup period.
Note:
- Only whitelisted addresses will be able to access ConvO and ConvX for the Only1 private-sale token offering in both premium access and public pools.
- Convergence Finance uses a weighted lottery system to ensure fair access while rewarding early supporters of the Convergence Ecosystem.
- Public pool whitelisting spots will also be lottery-based.
- Successful whitelist applicants will need to pass KYC and AML requirements.
- Citizens from the following countries will not be eligible to take part in our private-sale token offering: Afghanistan, Angola, Azerbaijan, Bosnia and Herzegovina, Botswana, Burundi, Cambodia, Cameroon, Chad, Comoros, China, Congo, Congo (Democratic Republic), Cuba, Eritrea, Ethiopia, Ghana, Guinea, Guinea-Bissau, Haiti, Hong Kong, Iran, Iraq, Lao People’s Democratic Republic, Libya, Liberia, Madagascar, Mozambique, Nicaragua, North Korea, Pakistan, Panama, Seychelles, Somalia, South Sudan, Sri Lanka, Sudan, Syrian Arab Republic, Tajikistan, Thailand, Trinidad and Tobago, Tunisia, Turkmenistan, Uganda, United States, Uzbekistan, Vanuatu, Venezuela, Virgin Islands (U.S.), Yemen, Zimbabwe.
- There will be slightly more whitelisted addresses than there are private-sale token offering spots. Allocation will be secured on a first come first served basis. The extra whitelisting addresses are meant for filling up those allocated spots that are given up.
- KYC emails will be sent via our official email, [email protected]. If you receive any communication prior to 27 August 2021 asking for KYC or any personal information, it is NOT Convergence Finance. We will also never ask for funds or your seed etc.
- In the case of any disputes, Convergence Finance reserves the right of final decision.
About Convergence Finance
Convergence is the first AMM to make exotic real-world assets interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface and composable with other DeFi protocols. Convergence enables asset owners to take advantage of DeFi’s liquidity, while DeFi users can access exotic real-world assets unavailable to them before. Convergence Finance combines the edge of a lowered investment entry barrier with the liquidity, automation, and transparency features of DeFi to bring real-world asset exposure to all DeFi users.
About Only1
Only1 is the first NFT-powered social platform built on the Solana blockchain. Mixing social media, an NFT marketplace, a scalable blockchain, and the native token — $LIKE, Only1 offers fans a unique way of connecting with the creators they love. By using the Only1 platform, fans will have the ability to invest, access, and earn from the limited edition contents created by the world’s largest influencers/celebrities, all powered by NFTs. The new world of NFTs is here, and it’s being built on Solana.
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