Sunder Protocol x Miso IDO
On June 9th, Sunder Protocol will officially launch its Governance Token SUNDER on miso.sushi.com on a Dutch Auction format lasting for 72 hours, or until commitments reach the limit of the auction target, whichever comes first.
Sunder’s IDO offering is just around the corner. Before we get into the details, we would like to give our community a special thanks. Thank you for your patience and unwavering support over the past few weeks. We’re now less than three days away from the IDO (which will happen on June 9, 2021).
For those who just came across Sunder for the first time:
Sunder Protocol is the first framework that allows for utilities of Governance tokens to be mutually inclusive, enabling participants to remain exposed while being able to bear interest via strategies, without sacrificing on voting rights. By exclusively integrating with Sushi Protocol, we’ve enabled a solution under which participants can enjoy both DAO participation and earning yield on governance tokens in an efficient manner, as well as new forms of pricing/speculation over the above-mentioned isolated utilities.
Further info can be found here.
Here’s everything you need to know in order to get your hands on the first batch of SUNDER to be released to the market.
IDO-Metrics:
Start: June 9th, 2021, 12:00pm UTC
End: June 12th, 2021, 12:00pm UTC
Type: Dutch Auction
Price per token: $3 to $0,2, linear decay until target reached
Raised Currency: USDC
Total number of tokens to be sold: 5,000,000 SUNDER
Please note: The Sunder IDO will be on a First Come First Serve basis and we will be using the Dutch Auction Type provided by Miso Factory.
How to participate?
First things first, to access the Sunder Miso IDO, you can connect directly to the auction through this link:
https://miso.sushi.com/auctions/0xe40a1cC60832fc4C4f537B86EE2fc5C6bdE5b51f
You will need to ensure your wallet is connected to MISO. This can be done by clicking the CONNECT button in the top-right of the page. MISO supports MetaMask.
Once connected, and after the countdown has reached zero, users will be able to see and interact with the Market specifics panel pictured below (an example is taken from MISO documentation):
In order to participate, you will be required to execute 2 transactions: One for approving the contribution, the second for committing the assets.
Once committed, you will have set the desired price ceiling at which you are willing to purchase SUNDER. Note, that the final price for all participants will be taken from the last contribution that concludes the sale. Once the target of 5,000,000 SUNDER to be auctioned is reached, no further participants will be allowed to contribute.
During the Live Sale, information and inputs will open up on the right hand side of the page, taking the place of the countdown and allowing participants to begin transacting with the Auction contract. These market specifics have been broken down further into 3 sections (denoted by the coloured boxes above).
Market Parameters (Pink) — This information is generated from the live auction contract. Currently, these 4 indicators are universal across our Market offerings. The STATUS: indicator will change from Upcoming to Live and a COUNTDOWN timer will begin according to the Auction Duration set by the auction creator. TOKENS REMAINING and PARTICIPANTS are generated from contract interactions throughout the course of the auction.
Auction Progress (Blue) — Will display the progress of the auction in terms of funds raised and tokens sold/left for sale.
Participation Controls (Green) — At the bottom of the Auction details panel you’ll find your controls for participating in the auction itself.Simply input in the text field how much of the sale currency you’d like to send, or alternatively use the slider to set how much of the token on offer you’d like to receive. However you decide, the total transacted from your wallet will be displayed next to the INVEST button.
For more information on the different auction types and what they mean, you can check out MISO’s documentation here.
SUNDER Token Economy:
As for the SUNDER token distribution & allocation, we have set up following table & piechart for better understanding of the metrics in question:
Ticker: SUNDER
Blockchain Network: Ethereum, ERC-20
Minted Supply: 100,000,000 SUNDER
Private Sale
Raised: $2,000,000
Price: $0,1
Lock-up: 20% at the TGE; 20% on a quarterly basis for 12 months
That said, we hope you enjoy this launch and infant stages of a great potential solution towards making DAO governance & DeFi Applications inclusive again, and look forward to see you at the Miso IDO!
About Sunder Protocol | Vision
The vision of Sunder Protocol is to allow any user to extract full value of governance tokens through Sunder Protocol. Participating in governance while earning yield to be simultaneously achievable, without excessive overhead cost spent on fees.
Governance Participation should not be an excluding factor for alternative utilities, left available to fewer large holders.
Website | Github | Discord | Twitter
For inquiries, collaborations or direct outreach: contact@sunder.finance
