Yield Guild Games releases details for the $YGG token sale on SushiSwap MISO platform

From 27 July, 2021, Yield Guild Games will conduct an Initial Dex Offering (IDO) via MISO on SushiSwap, running for a duration of 48 hours (from July 27, 2021 at 10:00am EST / 10:00pm PHT to July 29, 2021 at 10:00am EST / 10:00pm PHT) unless all tokens are sold out sooner.

With a total supply of one billion YGG tokens, 25 million (2.5%) will be available for purchase in the public sale.

All sales will be in USDC so please ensure you have USDC available in your wallet ahead of time.

For more information, the Yield Guild Games whitepaper was released on June 23 outlining the use case for the YGG token.

Auction Details

The following outlines the key details for the YGG token sale.

Minimum raise: $5M ($0.20/YGG)

Maximum raise: $12.5M ($0.50/YGG)

Auction Supply: 25M YGG

Currency: USDC

Whitelist needed: No

Duration: 48hrs

Website: miso.sushi.com

Auction method: Batch Auction

Batch Auction on MISO by SushiSwap

A Batch Auction is a fair and transparent way to enable token price discovery and ensure every community member, regardless of their net worth, can participate in the YGG token sale with the price determined by demand.

The floor price of the token will be set at $0.20 cents (reflective of a $5 million public sale) with a maximum token price of $0.50 cents (reflective of a $12.5 million public sale) depending on demand. The sale will stop once the combined total value of commitments reaches $12.5 million.

Within the 48hr sale window, participants commit the total amount that they are willing to spend. If the total value of commitments reaches the hard cap of US$12.5 million, the token sale will end at that time, even if the sale has not run the full 48hr duration.

The final token price is calculated by dividing the number of available tokens (25 million) by the total amount of funding committed by all participants during the auction period.

Scenario 1: Maximum raise reached

A community member commits $1,000 USDC and the total combined value of commitments reaches US$12.5M, then the token price is determined as follows: $12.5M/ 25M YGG equals US$0.50 per token. The community member that committed $1,000 USDC will receive 2,000 YGG tokens.

Scenario 2: Minimum raise reached

A community member commits $1,000 USDC and the total combined value of commitments reaches $7.5M, then the token price is determined as follows: $7.5M/ 25M YGG equals US$0.30 per token. The community member that committed $1,000 USDC will receive 3,333 YGG tokens.

Scenario 3: Minimum raise not reached

A community member commits $1,000 USDC and the total combined commitments reach $4.5M, then the price is determined as follows: $4.0M/ 25M YGG equals US$0.18 per token. This is below the floor price of US$0.20 so the sale has been unsuccessful. The participant that committed $1,000 USDC will have their commitment refunded (less a small network fee). The YGG tokens will return to the YGG treasury.

Provided that the participant makes a commitment before the hard cap of US$12.5M is reached, the participant is guaranteed to receive a portion of the tokens after the duration of the bidding process. The purchaser may pay anywhere between $0.20 and $0.50 per token, with the final token price determined at the conclusion of the sale. It is important that all purchasers are comfortable with the potential for the final token value to be $0.50 per token at a maximum. If the final token price is lower than $0.50, the purchaser will have simply acquired a greater number of tokens for the same value of their commitment.

At the successful conclusion of the public sale (assuming it is fully subscribed), and after guild members have received their allocated tokens as reward for their participation in the YGG community to date, there will be a maximum of 87,906,250 tokens in circulating supply representing a fully diluted market cap between $200 million and $500 million, depending on the final token price.

The higher the valuation based on the public sale, the more valuable the community rewards will be.

About Yield Guild Games

Yield Guild Games is a pool of 2,500 people who believe in the “play-to-earn” model that rewards gamers for playing games. … It takes the money from investors and earned by players and reinvests it in game assets and virtual land.

📰 INFO

https://medium.com/yield-guild-games/ygg-token-sale-tokenomics-1d75c66584e9