What is DOT DAO ‘Initial Discord Offering’?
Our Initial Discord Offering (IDO) aims to distribute the supply of PLUS as fairly as possible. By participating, alphaDOTs can secure a bag of PLUS with DOT NFTs at a fair price and in a non-competitive environment. The funds raised will enable DOT DAO to bootstrap liquidity and kickstart the protocol.
How will the IDO work?
To provide higher value to the early community IDO will be done with minting of NFTs. By minting the NFTs you are funding the LBP, and literally bootstrapping DOT DAO. We expect the NFTs to be valuable indicators of hero status later as well as NFT holders will be justified to get airdrops from new DOT projects.
IDO Whitelist
It will open on Monday 31st January 2022 at UTC 00:00, and will close on Thursday 3rd of February.
NFT Minting
NFT minting will be done on the Klaytn mainnet, it will open on Saturday 12th February 2022 at UTC 00:00, and will run until Tuesday the 15th of February. On the launch date, there will be a post in the #announcements channel of our community Discord which includes details of the DOT NFT minting process. Any alphaDOTs who signed up in the Typeform have the right to mint up to 5 DOT NFTs. Up to 10 AlphaDOTs that contribute the most to DOT DAO growth will be able to mint up to 15 PLUS NFTs
There will be one class of NFT and be minted for 200 KLAY, which will result in airdrop of 20 PLUS tokens:
- 200 KLAY / NFT → airdrop of 20 PLUS
Once an NFTs has been minted, the purchasing address will be removed from the whitelist (i.e. there will only be an opportunity to mint up to 5 NFT per each whitelisted address). After the IDO closes, holders of an NFT are not required to take further action. They will be airdropped PLUS tokens on Klaytn, based on the NFT they hold.
Minting will be done on our homepage. Users need to connect their whitelisted wallet and start minting. After that, users can go to Opensea and check their minted NFTs.
- Mint DOT NFT
- Hold until airdrop
- Stake airdropped PLUS tokens and get reward
When we launch on Terra network, sPLUS +Dot NFT holders will get Airdrops.
Users are able to sell their NFTs, however, they might miss airdrops and other future benefits.
*Please note: the address used to purchase your NFT must be an Externally Owned Account (i.e. not an address of an exchange, contract or Multisig), otherwise the address will not be the same on Klaytn and you may miss the airdrop.
Risks and Disclaimers
It is important to keep in mind that this is a high risk economic experiment, and you are not recommended to bootstrap DOT DAO with funds you cannot afford to lose. It is possible that you will lose all of your money. The contracts are a fork of Olympus DAO’s audited contracts, but there has been no official audit of DOT DAO.
