The cryptocurrency derivatives exchange FTX will conduct an initial exchange offering (IEO) of ATLAS and POLIS tokens for the Star Atlas game project. This was reported on the site of the trading platform.
Star Atlas is a multiplayer strategy game with a science-fiction storyline. The game’s events unfold in a spacefaring metaverse in the year 2620. Players can join one of three factions that wage war with each other for resources.
Star Atlas runs on the Unreal Engine 5 game engine and the Solana blockchain. ATLAS serves as the in‑game currency, and POLIS as the governance token. Players of Star Atlas will be able to trade the tokens on FTX and other crypto exchanges.
The Star Atlas token sale will begin on August 26 at 16:00 (MSK). Participants must complete Level 2 verification and stake at least 150 FTT. Organisers do not guarantee participation for those registering after August 18, 16:00 (MSK).
FTX will issue and allocate 2,000 tickets among IEO participants. Ticket holders will receive 180,000 ATLAS and 1,800 POLIS each.
IEO participants will receive one ticket each. The exchange may issue additional tickets to users depending on the amount of tokens staked in the 24 hours prior to the token sale:
- from 150 FTT — one ticket;
- from 1,000 FTT — two tickets;
- from 10,000 FTT — three tickets;
- from 50,000 FTT — four tickets;
- from 250,000 FTT — five tickets;
- from 1,000,000 FTT — six tickets.
Organisers recommend preparing funds in advance for the IEO Star Atlas:
- $400 for the minimum stake;
- $500 and 5 FTT for the maximum stake.
FTX will accept bids from 16:00 to 17:00 (MSK) on August 26. Tokens will be awarded to ticket holders with the highest bids. If there are more than 2,000 applicants, the exchange will distribute the tokens randomly.
FTX’s share of the Bitcoin futures market has risen nearly twofold — from 9% to 16% since late June.
Follow ForkLog news on Twitter!