Introducing the next IFO on Defily, CHAT
Defily proudly introduces the next IFO on Dragon Castle platform, CHAT project.
What is Social Token?
Social Token is the new hype in cryptocurrency world, as Nasdaq wroted about it as “the Next Massive Crypto Trend”.
“So what are social tokens? These are a type of cryptocurrency that is based around a brand, community, or influencer. Basically, it’s a way for internet groups or celebrities to further monetize themselves beyond the typical means.”- Nasdaq.
Introducing CHAT Project
CHAT is a project that allows users to connect seamlessly with influencers without limit. CHAT token is the social token that connects users and influencers, governs the whole ecosystem with the concept “Connect to Earn”.
- Influencers can earn CHAT token through interacting with fans and users on the platforms
- Users can earn CHAT token through interacting with Influencers (follow, rate, review, etc.)
- Users can use CHAT token to get premium services provided by influencers on CHAT platform (view secret profiles, chat with influencers, etc.)
CHAT Token Metrics
- Total Supply: 1,000,000,000 CHAT (1 billion CHAT)
- Community Incentive: 30% (Connect to Earn)
- Liquidity Mining: 30%
- Team: 20%
- Advisors & Investors: 5%
- IFO: 10%
- Partnership & Marketing: 5%
10% of Total Supply will be used for the IFO on Defily Platform. After IFO, there will be a Liquidity Mining Program running on Defily as a Mini Farm of CHAT, to incentivize liquidity for CHAT project.
CHAT IFO Details
CHAT IFO will be conducted on top of Dragon Castle Protocol. People can participate in the IFO by Staking KAI-KUSD-T LP Tokens into the CHAT IFO Castle to buy CHAT tokens.
- Stake Time: from 12PM UTC+0, 11 August, 2021 to 12AM UTC+0, 18 August, 2021
- CHAT distribution period: 13AM UTC+0, 18 August, 2021 to 13AM UTC+0, 25 August, 2021
- Staking Limit: $50,000 in KAI-KUSD-T LP
- User Limit: $5,000 in KAI-KUSD-T LP
- IFO Max Price: $0.0005 per CHAT
- Total CHAT for IFO: 100,000,000 CHAT
- Total Raise: $37,500 ($25,000 in KUSD-T and $12,500 in KAI) (75% IFO)
- DFL buyback and send to DAO: $12,500 ($12,500 in KAI) (25% IFO)
- DEX listing price: $0.001 per CHAT
There will be a Staking Period and Staking Limit, within the period of Staking (from 12PM UTC+0, 11 August, 2021 to 12AM UTC+0, 18 August, 2021), maximum of $50,000 can be staked in the IFO Castle. People can not stake after 12AM UTC+0, 18 August, 2021, to ensure all IFO participants join in before the CHAT distribution.
There will be 2 cases:
- Maximum of $50,000 in KAI-KUSD-T LP staked in the CHAT IFO Castle: the price per CHAT will be $0.0005 per CHAT, half of the DEX listing price.
- Less than $50,000, such as $25,000 staked in the CHAT IFO Castle: the price per CHAT will be $0.00025 per CHAT, 1/4 of the DEX listing price.
More details and questions can be asked in Defily Telegram or CHAT Telegram.
