HOSWAP's initial DEX offering (IDO) is live. The IDO commences from the 7th of September, 2021, to the 20th of September 2021. Here’s everything you need to know to take part in this IDO.
HOSWAP’s first IDO is the sale of the DEX’s token, HOS. Through this IDO, participants can purchase HOS at a heavily discounted IDO price. Below is a detail of the tokenomics.
The HOS Tokenomics
HOS has a total supply of 100,000,000, which is relatively fewer than those of existing DEXs. Only a fraction of its total supply gets added to the HOS liquidity pools.
No new HOS token can be minted outside its total supply. That should position the HOS market cap rightly for growth.
HOS IDO Specifics
The HOS IDO will take place on HOSWAP, opening the DEX to more IDOs in the future. Those looking to purchase HOS through the IDO will get the HOS-IDO token, which is a vested HOS. Actual HOS tokens will be released weekly, with 20% of each participant’s holding.
By vesting its IDO purchased tokens, HOSWAP prevents the dumping of its native token by investors. Fortunately, IDO participants can still profit from their purchase by staking the HOS-IDO tokens in the Burnt Reward pool, which earns them more HOS tokens.
The IDO price for HOS is pegged at $10, which is relatively small considering the supply and utility of the DEX's native token. By getting the HOS token, users can take advantage of the many benefits of HOSWAP, HALO Network’s decentralized exchange.
If you are interested in getting HOS through the IDO, you might want to take action as soon as possible. Only 20,000 HOS tokens will be available for purchase through the IDO.
Selected participants can make their purchases by committing USDC towards the IDO pool. Their purchased HOS tokens (vested as HOS-IDO) are sent to their wallet once the IDO token sale is over.
Liquidity Provision
In a typical IDO fashion, some HOS tokens will be added as liquidity, making it possible for anyone to trade the token. The addition of liquidity will take place on the launch of HOSWAP. The launch of HOSWAP is scheduled to hold between September 15 and September 20, 2021.
Once HALO Network’s DEX gets launched, the team will add HOS liquidity instantly. Anyone interested in buying HOS on the listing will have to wait until then. Else, you can simply purchase the DEX token through the ongoing IDO.
You can’t trade the vested HOS (HOS-IDO). If you purchase the vested token, you’d have to wait a few weeks for the entire HOS to be released or sell them in batches.
Initially, only 2100 HOS tokens will be added as liquidity for trading. This is HOSWAP’s attempt at encouraging liquidity providers to add their assets to the DEX. A liquidity provider pool of 21,900 HOS will be created, incentivizing all liquidity providers.
What To Expect With HOSWAP Launch?
HALO Network is a blockchain expected to make DeFi much better than its current state. The blockchain brings forth scalability, efficiency, lower cost, and support for DeFi applications.
HOSWAP is the DEX on HALO Network, which promises to be game-changing for the industry. On HOSWAP, users enjoy the luxury of choosing between the automated market maker model (AMM) or the hidden Markov model (HMM). Most decentralized exchanges don’t have the HMM option, so users are limited to the available, which isn’t always great for transactions. Sometimes, price precision is best optimized through one of the two modes.
Remember how you were once mesmerized by the limit order on centralized exchanges? Well, HOSWAP is going all out to deliver something better. The decentralized exchange is bringing range order to its list of features. Users of the DEX can purchase assets over a range of prices, which has more benefits than the popularized limit order.
Another interesting attribute of HOSWAP is its multiple liquidity provider rates. This feature of HOSWAP ensures different LPs can have liquidity provider fees that are flexible. Of course, the liquidity provider rate is based on the volatility of the pairs concerned. It’s bound to favor LP providers for highly volatile pairs.
Participating In The HOS IDO
To participate in the HOS IDO, you have to fill the Google form here.
Interested participants also have to carry out the necessary tasks say, joining HALO Network's community on the different social media platforms. Also, you have to stake a minimum of 1000 HO tokens – HALO Network’s native token – on the HOS PoS node.
These are conditions aimed at sifting out those worthy of buying HOS. Expectations are high for the price action of HOS, so competition will be stiff for the DEX token.
Conclusion
The HOS IDO will take place between September 7 and September 20, 2021. With the unique offerings of HOSWAP, the market cap of HOS will be massive. This makes the HOS IDO token sale a once-in-a-lifetime opportunity.
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