HurricaneSwap x Avalaunch — IDO Announcement
Avalaunch the next IDO they are proud to offer their community is HurricaneSwap, a cross-chain DEX, with a focus on LP provision, built natively on Avalanche.
Registration will begin on September 27th and the IDO will take place October 4th, with details posted in their sale section.
Overview
Avalaunch has been working with the HurricaneSwap team for many months and is fascinated by their potential as the first cross-chain liquidity DEX on Avalanche. The application is made more powerful when you consider the competitive fees on Avalanche and the opportunity to provide a user experience not available anywhere else.
While NFTs have made headlines as of late, the infrastructure building that can support liquid markets and improve a user’s exchange experience is critical for a Layer 1 to thrive. HurricaneSwap has an accomplished team with equally strong backing and partners, including Huobi Ventures, KuCoin & Avalaunch.
At A Glance
Built on Avalanche, HurricaneSwap is truly a next generation cross-chain decentralized exchange which aims to offer unmatched performance, the lowest fees on the market and a more seamless, user-friendly experience. There are three pieces of unique architecture which make up the HurrcaneSwap protocol.
- Decentralized — censorship resistance platform that is unrestricted and requires no KYC with a stated commitment that “there is no centralized control.”
- Secure — guards against hackers by way of an LP-bridge, known as Roke Protocol. The protocol is a “bidirectional verification mechanism,” rendering it virtually impossible to attack.
- Fees — a 2% fee on cross transactions are currently the lowest in the market.
- Efficiency — two steps and ~15 seconds to complete a cross transaction.
HurricaneSwap Token Distribution and Vesting
Total Supply: 2,000,000,000 HCT
- 1.2B — Liquidity mining — emitting 1,000,000 HCT per day upon TGE
- 220M — Round A — 3-month lock-up from TGE, followed by a 12-month linear release
- 200M — Hurricane Alliance — 300,000 HCT per day after TGE
- 200M — Team — 6-month lock-up from TGE, followed by a 12-month linear release
- 80M — Marketing — Media, branding, and community strategy. 100% unlocked
- 80M — Round B — 1-month lock-up from TGE, followed by a 12-month linear release
- 20M — Public Sales (IDO/IEO) — 100% unlocked
Funding Numbers
- Private A Round: Raised $2.2 million at $0.01/HCT
- Private B Round: Raised $1.4 million, $0.0175/HCT
- Total Public Rounds (including Avalaunch): Raising 600K at $0.03/HCT
- Hard Cap: $4,200,000 USD
- Circulating Supply of HCT Post-TGE: 100M HCT*
- Market Cap at TGE (based on circulating supply): $3,000,000 USD*
*Both the circulating supply and Day 1 market cap do include tokens that may be provided for liquidity.
Note: Although the 80M marketing tokens are unlocked, these tokens are to be used in market making as well as liquidity and airdrop rewards. Counting them towards the Day 1 cap is a personal decision one must make.
Hurricane Swap’s IDO Schedule
As a native Avalanche cross-chain endeavor, HurricaneSwap’s team has done a great job of creating awareness and finding avenues to create distribution for the HCT token. Their public sales are taking place on the following:
- HurricaneSwap.com — September 26th 2PM UTC — Allocation: 100K USD
- DuckStarter — September 26th 2PM UTC — Allocation: 100K USD
- Westarter — September 26th 2PM UTC — Allocation: 50K USD
- Zb.com — Sep. 26th 2:00 PM UTC — Allocation: 20K USD
- MEXC — September 26th 2PM UTC — Allocation: 80K USD
- Avalaunch — October 4th 6AM UTC —Allocation: 250K USD
The Hurricane Swap IDO on Avalaunch
It is worth noting a few things about the Avalaunch IDO:
- It is 100% unlocked, and no tokens will be released until the Avalaunch IDO concludes.
- HurricaneSwap’s public sale will take place across multiple platforms.
- The public round has been removed, and the sale will be offered to only validators and XAVA stakers.
Avalaunch Sale Distribution
- At least 90% of the sale will go to the community XAVA stakers
- ~10% will be reserved for validators of the Avalanche network
- Any leftover tokens from validators will be offered to stakers
Sale Size: $250,000 USD
Tokens available: 8.33M HCT at .03 USD (Total Supply: 2B HCT)
Registration Schedule
- Registration Opens: 9/27/2021 at 3:00 p.m. (UTC)
- Registration Closes: 10/2/2021 at 6:00 a.m. (UTC)
Sale Schedule
- Validator Round Begins: 10/4/2021 at 6:00 a.m. (UTC)
- Validator Round Closes: 10/4/2021 at 6:00 p.m. (UTC)
- Staking Round Begins: 10/04/21 at 6:00 p.m. (UTC)
- Staking Round Closes: 10/05/21 at 6:00 a.m. (UTC)
Final Thoughts
Avalaunch feels that HurricaneSwap will come to be a foundational Avalanche application. With a long history inside the ecosystem, and a focus on Avalanche’s architecture, the vision is very much in alignment with their forecast for the network. Typically, projects that launch with this level of momentum and ambition have raised well into eight figures, but HurricaneSwap’s hard cap is very modest by comparison. The entry price is higher than what we typically encounter and the unlocks are fairly aggressive. However, they believe that this speaks to a well-backed team, with the ability to execute and attract significant TVL.
About Hurricane Swap
HurricaneSwap is the 1st cross-chain liquidity DEX based on Avalanche. With the innovative LP-Bridge mechanism (Roke Protocol), users can trade popular assets of other chains without leaving Avalanche. Taking advantage of Avalanche, HurricaneSwap provides users with a high-performance, low slippage, low-cost and seamless cross-chain trading experience.
About Avalaunch
Avalaunch is a launchpad powered by the Avalanche platform, allowing new and innovative projects to seamlessly prepare for launch with an emphasis on fair and broad distribution. With its values deeply rooted in the early Avalanche community, we are able to offer projects confident, informed users who are aligned with the long-term goals of the rapidly expanding application ecosystem.
Source:
https://medium.com/avalaunch/hurricaneswap-x-avalaunch-ido-announcement-9834808f2e4
