On March 2, we launched our APYSwap’s token IDO at Polkastarter platform, raising a total of 125,000 USDT in Ethereum. After receiving 42,825 whitelisting application, we were extremely excited to see this many users demonstrating their interest in our project, both from Polkastarter holders and our own community. 0.67% of total token supply was sold during the IDO (i.e. 670,000 tokens).
As we now completed the private funding round as well as the public sale, we are aiming to reach the new heights in our project’s development and work on bringing even more value to our holders. In this article, we would like to provide a brief recap of the IDO launch event as well as to reveal some of the exciting numbers from this launch.
Polkastarter event timeline:
On 1:00 PM UTC our chat was muted in preparations for the upcoming launch. The IDO was officially launched on Polkastarter and pools were unlocked at 2:00 PM UTC. POLS holders then proceeded with emptying the entire supply of tokens (an equivalent of 75,000 USDT in ETH) in the mere minutes after the launch.
Uniswap listing was completed at 3:00 PM UTC and trading has officially begun. At 3:30 PM UTC Polkastarter IDO was over, by that time the token was traded at approximately $1.83, which was nearly a 981% increase, compared to the public price of $0,1865, topping $16,000,000 in trading volume throughout March 2. The number of holders continues to grow breaking 1900 individual holders.
Here are some brief Uniswap numbers at the time of writing this article:
· Current price: $1.61
· Total Liquidity: $527,271
· Trading volume in the last 24 hours: $1,111,271
· Transactions over the last 24 hours: 296
We are very grateful to all of the IDO participants and we are looking forward to sharing more exciting announcements in the upcoming months.
About APYS token:
APYSwap tokens are used to safeguard and govern the APYSwap’s ecosystem. They ensure that only the reputable DeFi projects are available on the marketplace. Their role is to provide an insurance utility. Projects, interested in listing at the APYSwap’s marketplace, will have to purchase APYS tokens and lock them. If the project has proven to be untrustworthy, tokens will be unlocked and distributed as a compensation.
Token owners will be able to vote for new portfolio projects. In the long term, the platform will shift towards the complete decentralization with community acting as decision makers. Portfolio managers will be incentivized to purchase the APY tokens, since they can attract more users by offering unique projects in their portfolio. However, they will need tokens to vote for the addition of said projects into the APY’s whitelist. Therefore, portfolio managers will contribute to APY token’s market value.
APYSwap is a protocol for decentralized cross-chain exchange of shares of Tokenized Vaults. Leveraging Layer-2 blockchain technology, APYSwap enables the trustless trading of tokenized yields across multiple Layer-1 blockchains. APYSwap can now support the most popular DeFi protocols on Ethereum, Polkadot, Binance Smart Chain, and Huobi ECO Chain. In addition, APYSwap platform will offer supplementary functionalities to its current features, further exploring innovative benefits for end-users and DeFi portfolio managers.
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