BlueMove IFO on Aptos PancakeSwap
BlueMove will launch its upcoming IFO on Aptos PancakeSwap, a decentralized finance (DeFi) blockchain app that enables its users to swap crypto tokens.
TL;DR:
- BlueMove is an Aptos NFT Marketplace with native support for both web and mobile
- Strategic partners and investors include Altonomy, Galxe, Cogitent Ventures, and PolkaBridge
- Questions will be collected in advance for the AMA Event (see below on AMA Section)
- A lovely year-long (365-day) $MOVE Syrup Pool for the PancakeSwap community!
- $12,000 worth of $MOVE will be up for grabs in the following days — stay tuned to our Twitter @PancakeSwap for more details!
Project Overview
BlueMove is a community-oriented NFT marketplace that operates in the Move Ecosystem: on Aptos (live on mainnet) and Sui (live on testnet).
It rewards traders, collectors, and creators for their participation, providing a platform for creators to easily create and list their NFT collections for buying, selling, and trading.
With full functionality and seamless web and mobile experiences, BlueMove is a comprehensive, all-in-one platform for NFT enthusiasts. It’s available on web, Apple, and Google app stores.
Screenshots of their NFT marketplace (live on Aptos mainnet now):
Desktop version:
Mobile version:
What is $MOVE?
From the team:
“The $MOVE token:
- Grants holders access to projects launching on BlueMove’s Launchpad — including free and discounted NFT mints
- Provides stakers with staking rewards derived from the platform’s fees
- Allows holders to participate in on-chain governance
- Incentivises users to trade on BlueMove by offering rewards for trading activity
More to come…”
$MOVE Token Distribution
If any of the terms are unclear, please ask our friendly community, or read this article on vesting (https://t.co/h2EoYCwJPs).
IFO Sale Details
- Sale start time: ~1200 UTC on Thu 9 Feb 2023
- Sale end time: ~1400 UTC on Thu 9 Feb 2023
- Amount to be raised: US$400,000 in $CAKE tokens
- Tokens to be sold: 10,000,000 $MOVE (3.33% of $MOVE’s total supply)
- Price per token: 1 $MOVE = $0.040 USD
- Token Vesting Schedule: 40% will be unlocked at Sale end time (~1400 UTC), with the remaining 60% released block-by-block over 90 days
All $CAKE raised from the $MOVE token sale will be given to the IFO project. Only $CAKE raised from the participation fee will be burnt. All unsold $MOVE tokens will be burnt.
Method: Unlimited Sale (Conducted via the Overflow method)
There will be no entry requirements for this IFO.
However, to participate, you will need to hold $CAKE on Aptos. To get $CAKE on Aptos, please refer to this $CAKE bridging guide.
In addition, you will need $APT for gas. To obtain $APT, please refer to this $APT coin guide.
What is the “Overflow” sale method?
Basically, the more you put in, the more you will get, and you’ll get back anything that doesn’t get spent. More details below in the Overflow Multiplier Table.
An Explainer: What does Unlimited Sale mean?
Unlimited Sale ($400,000, 100% of Sale Allocation)
As the name suggests, the Unlimited Sale has no limits on the amount each person can contribute. However, this comes at the cost of a participation fee.
How much is the participation fee?
The participation fee will start at 0.5%, which is applied to your contribution to the sale.
The 0.5% participation fee decreases in cliffs, based on the percentage of overflow from the IFO sale.
The fee cliff for the $MOVE IFO is as follows:
Overflow multiplier
In the Unlimited Sale method, users can subscribe as much they want to the IFO, and their final allocation will be based on the amount of funds they put in as a percentage of all funds put in by other users at the time the sale ends. Users will get back any leftover funds when they claim their tokens after the sale.
Please note — The final price per $CAKE token for the purposes of this IFO will be set a few minutes before the sale (starting at approx. 1200 UTC on Thu 9 Feb 22).
We will be running a Syrup Pool and Farm for $MOVE which will start after the IFO.
The $MOVE Syrup Pool:
Stake $CAKE tokens to earn $MOVE!
- Total Tokens for Syrup Pool: 8,000,000 $MOVE
- Distribution duration: 365 days
- Start time: Shortly after the IFO ends
- Finish time: Approx. 365 days after Syrup Pool launch
- Token rewards per second: 0.2537 $MOVE
Max Stake per Wallet:
100 $CAKE for the first 5 days, then unlimited $CAKE staking thereafter — the cap will enable everyone to enjoy pool rewards at a high APY.
The $MOVE Farm:
We will host a $MOVE-$APT Farm for 120 days. It will have 2x $CAKE rewards for the first 2 days and 1x $CAKE rewards thereafter.
During and at the end of the 120-day period — approximately 1400 UTC on 9 June 2023 — the farm will have its rewards adjusted to 0x unless the following metrics are comparable with other 1x multiplier farms: average daily volume, 14-day volume, unique token holders on Aptos, and there are no fundamental token issues etc.
About BlueMove
BlueMove is a community-oriented NFT marketplace that operates in the Move Ecosystem: on Aptos (live on mainnet) and Sui (live on testnet).
About PancakeSwap
PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return.
SOURCE
https://medium.com/pancakeswap/bluemove-move-ifo-to-be-hosted-on-aptos-pancakeswap-25adee83d1ee
