Radix Token Sale Timeline Update

Radix DLT
1st October 2020

It has been a busy summer, with some amazing partnership announcements, the latest Whitepaper being released, and even had the consensus algorithm, Cerberus, mathematically proven by the University of California Davis in an academic paper. There was the release of the Decentralised Finance white paper, and the second code drop (“Drop 2”) for the Radix Public Network v1 (RPN-1) is on schedule for the mainnet launch.  

Alongside all of the exciting news, the team has been hard at work preparing for the ERC20 E-RADIX token launch and token sale. This update will share what you can expect over the coming weeks regarding Radix tokens.

(Historical) Update Economics – Sept 21st

In September there was a significant update to the token economic model – moving all token holders from time-based unlocking to price-based unlocking. This change is pretty exciting – you can find out more about the details here: https://www.radixdlt.com/post/the-radix-economics-a-token-for-an-ecosystem/

Token Sale* Opens – Oct 8th

Due to over 27,000 people expressing an interest in purchasing Radix tokens, it seemed best to create a simple token portal that allows token allocations to be claimed on a first-to-send funds basis. In order to reserve your allocation you simply need to create a user account and make your purchase using either USDC or ETH.

The Radix Token Sale will begin on October 8th at 18:00 UTC.

You can find full details relating to the Radix Token Sale* on our dedicated information page here: tokens.radixdlt.com

To ensure you get notified as soon as the portal is live, please sign up to the token buyer form if you have not done so already: https://radixdlt.typeform.com/to/LFO48RC1

All purchases are subject to the successful completion of KYC/AML and confirmation of any regulatory terms. Certain jurisdictions, such as the USA, will be excluded from participating.

You must ONLY send funds via the official Radix tokens portal*. 

You must ONLY send from a personal wallet, sending funds from an exchange wallet may result in you being unable to access your E-RADIX.

The conclusion of the ongoing private sale component will be run in parallel to this process as KYC/AML is also completed with buyers who have expressed interest in purchasing over $250k of Radix tokens via the same portal. Any incomplete allocations will be added to the total available to purchase in the main Token Sale.

A maximum of 642m Radix tokens will be made available to both the private and main Token Sale*. Token purchases will be subject to a minimum of $5k and a maximum of $2m.

After submitting the payment, token buyers will be required to complete KYC/AML checks via the regulated AML provider, Altcoinomy. At a minimum, these checks will require proof of ID, proof of address, source of funds and a short video call to verify the details. 

Tokens Distributed – Nov 17th

As per the new economics, all tokens buyers are subject to a price based unlocking schedule. Locked tokens will be held within a smart contract that allows withdrawal at certain price milestones. The finishing touches are being put on this unlocking contract and it is being audited by Quantstamp prior to the launch. 

Liquidity Incentives – Nov 17th 

With the recent trends in the industry, it is clear that a great way to create initial liquidity for the E-RADIX token is by launching directly into the Ethereum DeFi ecosystem – after all, Radix is designed to be the Decentralised Finance Protocol. Unlike launching on a centralized exchange, this enables the Radix community to participate directly in providing liquidity, while also giving opportunities for building holdings while supporting the token. Of course, this also helps the project and token gain awareness in the wider DeFi space. 

To facilitate this “DeFi Launch”, an allocation of tokens has been reserved to incentivise liquidity provision that will be essential for the organic and decentralised distribution of Radix tokens. These incentives will be targeted to benefit the long term health and growth of Radix.

Due to the fast-moving nature of the DeFi space, further details of the liquidity incentives and the platforms that will be supported will be announced closer to the 17th of November. This will allow for the best allocation of incentives to meet the long term goals of Radix and the token holders.    

Summary

In the coming weeks, the cadence of news and updates is likely to increase as the token sale* and token distribution approaches. This is both a very exciting and important time. Therefore, detailed guides and safety tips will be produced that everyone should take the time to read thoroughly!

As always, if you are interested in purchasing Radix tokens, please use the “Get Tokens” button in the menu of https://www.radixdlt.com

For questions about the sale, please contact [email protected].

 

*Please Note: The Radix Token Sale is being conducted by Altcoinomy S.A. acting as pre-incorporation agent for the Token Generating Entity. All information relating to the Radix Token Sale is issued by the Radix Foundation Ltd acting as pre-incorporation agent for the Token Generating Entity. Altcoinomy S.A. is a Swiss regulated company. The Radix Foundation is a UK company limited by guarantee.