The crypto-derivatives exchange FTX will conduct an initial exchange offering (IEO) of Maps.me (MAPS) tokens. This was announced on the FTX site.
The Maps.me startup is developing an offline mapping app used by 140 million people worldwide. Earlier this week Maps.me announced that it had raised $50 million to build an integrated multicurrency wallet with a yield farming feature and cashback options.
The Maps.me token sale will begin on January 26 at 16:00 (MSK). In the IEO, participants must have fulfilled at least one of the following conditions within 24 hours prior to the token sale:
- trading volume of at least $50,000 over the last 30 days;
- staking 1000 or more FTX (FTT) tokens.
Participants in the IEO are those who registered accounts by 16:00 (MSK) on January 24, 2021. Token sale participants must complete Level 2 verification.
FTX will issue 1,000 tickets to the IEO with a nominal value of 2,000 MAPS. Each participant will receive one ticket to the IEO. The exchange will allocate tokens to ticket holders with the highest bids.
The platform recommends participants prepare funds for the IEO in advance:
- 200 USDT for the minimum bid ($0.1 per MAPS);
- 250 USDT and 6 FTT for the maximum bid ($0.125 per MAPS + 6 FTT).
FTX will accept bids from 16:00 to 17:00 (MSK) on January 26. If tickets with the maximum bid exceed 1,000, the exchange will allocate tokens among their holders randomly.
IEO organizers may issue additional tickets to users based on 30-day trading volumes or the average amount of FTT staked over the last seven days:
- from 10 FTT — one additional ticket;
- from 100 FTT — two additional tickets;
- from 1000 or VIP FTX — three additional tickets;
- from $100,000 — one additional ticket;
- from $1,000,000 — two additional tickets;
- from $10,000,000 — three additional tickets.
FTX — a crypto-derivatives exchange offering spot, futures and OTC trading. The platform supports trading options on BTC, leveraged tokens, and MOVE contracts.
Earlier this week, FTX announced that trading volumes, user counts and markets reached record highs in 2020.
Subscribe to ForkLog’s Telegram news: ForkLog FEED — the full news feed; ForkLog — the most important news and polls.