IDO Terms Update & Farms Multipliers Adjustments
The SOY Initial DEX Offering is a fundamental component of the SOY Finance initiative, so we must ensure the optimal conditions for its success.
Therefore, we have decided to give long-term investors greater incentives to participate in the SOY Initial DEX Offering by granting them a bonus in SOY Tokens proportional to their investment.
To go further, we would like to remind you how the funds raised will be allocated:
- Establish a fund to guarantee users' losses in the event of hacks or software errors.
- The development of a decentralized insurance system.
- Improving the ERC 223 token standard and promoting it to other DeFi projects.
- Expand the security auditors team.
The received funds will be allocated as described in Figure 1.
Figure 1: Planned funds allocation.
Based on community feedback and to engage long-term investors in the platform's success, we offer a 25% bonus on investments made through the IDO.
The bonus consists of SOY tokens locked for 12 months and is retroactive to the first round of the IDO.
Examples of bonuses depending on whether the investment is made in the daily or weekly auction:
- For 100 SOY tokens purchased in the daily auction, an investor will receive 50 unlocked tokens, 50 locked tokens, and 25 tokens as a bonus.
- For 100 SOY tokens purchased in the weekly auction, an investor will receive 25 unlocked tokens, 75 locked tokens, and 25 tokens as a bonus.
The total bonus allocation is 15 million SOY tokens;
- 9 million assigned to the daily auction.
- 6 million assigned to the weekly auction.
This budget will be deducted from the private investors' pool, which will now amount to 15 million tokens out of the 30 million initially planned.
After reviewing SOY Farms and SOY Swap, we decided to adjust the SOY farms' multipliers.
These adjustments are necessary as we plan to add new farms regularly while providing additional incentives to SOY pairs farms is key to maintaining the long-term sustainability of the SOY ecosystem.
Below is the table with the new farms' multipliers.
We will continuously analyze and adjust the multipliers to ensure the optimal efficiency of SOY Finance.
The multiplier adjustments will take effect today at 19:00 UTC at the launch of the SOY-ETH farm.
SOY Finance team.