IFO (Initial Farm Offering)
Buy new tokens with a brand new token sale model
This article uses CHE as an example
Buy new tokens using CHE tokens.
100% of the CHE raised by IFO will be converted to the project in USDT.The project gets the USDT, CherrySwap burns the CHE. You get the tokens.
- 1.You will need CHE tokens to participate.
- 2.CHE tokens equating to half of the total funds raised will be burned forever: If the full $1,000,000 USD allocation is raised, then $500,000 of CHE tokens will be burned.
- 1.When the sale is complete, claim the IFO tokens you've bought. Your unspent funds will also be sent back to you.
- 2.Done! In the case of an overflow you can unstake your remaining CHE tokens.
If you decide to acquire CHE before the IFO starts, you can stake them in the CHE-USDT Farm to earn CHE token rewards while waiting for the sale.
While you are holding CHE tokens you will be at risk of Impermanent Loss.
Basically, the more you put in, the more you will get, and you’ll get back anything that doesn't get spent.
In the “Overflow” method, users can subscribe as much or as little as they want to the IFO, and their final allocation will be based on the numbers of funds they put in as a percentage of all funds put in by other users at the time the sale ends. Users will receive back any leftover funds when they claim their tokens after the sale.
It's possible to receive no tokens at all: If you commit a very small amount of CHE tokens compared to the total amount committed by others, your contribution may be such a small part of the total that you may not qualify for even a small portion of the tokens sold. In such a case, you will still be able to reclaim all the CHE tokens you committed.
The sale will proceed as normal, and all funds contributed will be spent.