The platform offers a range of financial products, including trading, lending, farming, staking, prediction markets, and launchpad, making it a comprehensive solution for DeFi users. Its team has put great effort into developing innovative and carefully designed mechanisms to enhance the user experience and maximize returns.

The Partnership

WispSwap has integrated with Wormhole, enabling users to seamlessly allocate their assets cross-chain. This integration represents its commitment to offering a superior service to its users.

With the one-stop service provided by WispSwap, users can transfer their assets freely between different blockchain networks, directly from the WispSwap platform. This advancement in technology will further streamline the user experience, providing greater efficiency and convenience.

Integrating Wormhole Connect also enhances the liquidity depth of its Asymmetric Concentrated Liquidity Market Maker (ACLMM) DEX on WispSwap, enabling efficient trading with minimized slippage. This leads to increased trading volume and more transaction fees for liquidity providers.

What is Wormhole?

Wormhole is a revolutionary cross-chain messaging protocol shaping decentralized applications’ future. It has become the industry standard for powering applications across Web3, providing developers access to liquidity and users on over 20 leading blockchain networks.

With its ability to enable use cases that span DeFi, NFTs, governance, and more, Wormhole is paving the way for the next wave of decentralized applications. The platform offers a growing suite of products that can be built on its messaging layer, with Wormhole Connect being a key asset layer product. It provides developers with an in-app bridging widget that can be easily integrated into just a few lines of code.

RESOURCES

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TL;DR:

• IDO Start Time: 10am UTC, 18th, May 2023
• IDO End Time: 10am UTC, 23th, May 2023
• The IDO consists of two rounds: Whitelist Round and Public Round
• Total raise: 575,000 $SUI
• Vesting schedule: 60% unlock at TGE, 40% unlock as veWISP

Background

WispSwap has been committed to prioritizing our community while relentlessly working to develop the best possible Defi project on Sui. For months, we have bootstrapped and built without any external funding to preserve the protocol’s equity for future users.

Following our initial proposal and invaluable feedback we received from Wisp community on WispSwap governance forum, we have made the decision to reject VC funding and opt for a public sale to the community. We believe this is the way DeFi was meant to be.

This allows the team to have the necessary funding to further develop the project while adhering to our values of distributed ownership and participation. The funds raised from this round will be used for product research and development, smart contract audits for every additional feature, CEXs listings and initial liquidity adding for $WISP token.

At WispSwap, we believe that true ownership of a platform lies in the hands of our community. That’s why we have allocated 10% of the platform’s total supply to the community and implemented veWISP mechanism to connect token holders to the protocol’s revenue. This way, WISP token holders become genuine owners of the platform, with a direct stake in its success and governance.

For additional information on WispSwap tokenomics, please read our whitepaper.

$WISP token will be issued natively on Sui mainnet and its IDO will be hosted on WispSwap own platform. Here are all the details of the IDO and whitelist policy.

IDO Details on Wisp Swap

Whitelist Round (Presale)

• Start Time: 10am UTC, 18th, May 2023
• End Time: 10am UTC, 19th, May 2023
• Token Supply: 2,500,000 $WISP
• Price: 1 $WISP = 0.05 $SUI
• Total raise: 125,000 $SUI
• Vesting schedule: 60% unlock at TGE, 40% unlock as veWISP
• Eligibility: Whitelist pass

Public Round

• Start Time: 10am UTC, 19th May 2023
• End Time: 10am UTC, 23rd May 2023
• Token Supply: 7,500,000 $WISP
• Price: 1 $WISP = 0.062 $SUI
• Total raise: 450,000 $SUI
• Vesting schedule: 60% unlock at TGE, 40% unlock as veWISP
• Eligibility: Everyone — FCFS

Listing

Following the completion of the public round, the token generation event (TGE) for $WISP tokens will take place. After the TGE, $WISP tokens will be listed on WispSwap DEX and other major exchanges with an initial price of 0.07 $SUI.

How IDO on Wisp Swap Works?

1. WispSwap IDO consists of two rounds: Whitelist Round and Public Round.
2. The Whitelist Round will start from May 18th 10am UTC to May 19th 10am UTC or until it’s filled.
3. The Public Round will start either after the Whitelist round ends or on May 19th at 10am UTC and will end on May 23th at 10am UTC.
4. The Public Round will start on a first-come-first-serve basis. Each wallet can commit up to 2500 SUI.

How to get Whitelist pass?

We are reserving whitelist spots for our early contributors based on their roles in WispSwap Discord server. Members with the Master Wisp, Ancient Wisp and OGs roles will be guaranteed a whitelist spot. Sprout Wisp and Adept Wisp will also have the opportunity to obtain a Whitelist pass, with their WispSwap points taken into consideration during the selection process.

Snapshot will be taken before the IDO starts.

Additionally, due to the overwhelming support from our community, Wisp Swap will be organizing a series of events including Zealy program, community events and marketing collaboration to offer whitelists. Here’s the breakdown:

(a) Community events

• 10 Whitelist spots for our Creative Video Event
• Random selection of “Wisps of the Forest” NFT holders
• Trivia Contests in WispSwap Discord Server
• Twitter thread competitions

(b) Marketing collaboration

Remaining Whitelist spots will be distributed with our collaboration with

• Media Platforms: Sui Global, Sui World, Sui Ecosystem and other big media partners
• Partnered Protocols: WispSwap’s strategic partners in Sui ecosystem and major protocols on other blockchain networks

About WispSwap

WispSwap is a decentralized exchange and DeFi platform on Sui blockchain. The platform provides a suite of financial products, including trading, lending, farming, staking, prediction markets and launchpad, making it a one-stop shop for DeFi users. The platform strives to enhance user experience and maximize returns by implementing innovative and meticulously designed mechanisms.

Website | Twitter

SOURCE:

https://medium.com/@wispswap/wispswap-ido-ea477463f69b

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