Corra Finance has announced that they will conduct their IEO with MXC and Liquidity Drop Bootstrapping with Balanceron on May 16 and May 17, respectively.
Corra has allocated 1,622 CORA tokens to this IEO which will be sold through two methods:
- Trading Method – Users trading specific cryptos (Spot & ETF & Margin) 3 days before the ticket-claim time with trading volume no less than the minimum amount specified will be eligible for the lucky draw. The larger the trading volume, the more tickets the user can claim.
- Eligible pairs for the trading round are: BTC, ETH, BSV, DOGE, ETC, EOS, MX, XRP, BCH, TRX, LTC, BNB, DOT, HT, ADA, WOO, FIL, DASH, ONT, LINK, ZEC, BTT, FTM, QTUM, NEO, XLM, WIN, OMG, XMR, VET, ATOM, DCR, ALGO, ZIL, CKB, PIG, SHIB, SMARS, XCH, SOL, RLC, TRB, XTZ, MATIC, WGRT, FTT, WAVES, UNI, COMP, KSM
- The total number of winning tickets is 1000, and each winning ticket includes 1 CORA token.
- MX Holding Method – Holders of MX during the ticket claim time with a holding amount no less than the minimum amount specified will be eligible for the lucky draw. The larger the holding amount, the more tickets the user can claim.
- The total number of winning tickets is 300 and each winning ticket includes 1 CORA token.
The ticket claiming time is between 22:00, May 16 to 17:00, May 17 (UTC+8). Results will be released at 19:00, May 17 (UTC+8).
Following this, Corra will be conducting an event to bootstrap liquidity for the CORA token. The event will run for 6 hours, starting from May 17th at 20:00 (UTC+8) to May 18th at Balancer. MetaMask is required for participating in the event.
CORA has allocated 7% of its total liquidity to the LBP sale. The starting price will be randomly generated as is the case for LBP sale on Balancer DEX.
A 50:50 balancer pool will be launched, seeded with a combined $1.8 million USDT and CORA. CORA team will be whitelisted to add liquidity to the pool, which will be added continuously during the first 10 minutes for a decent swap opportunity. The total liquidity added over the first 10 minutes will equate to 1.5x of the IEO price if no swaps are made.
CORA liquidity drops will be randomly added to the pool over the course of next 6 hours.
For an in-depth analysis on Corra Finance: Corra Finance: Monetizing digital content through NFT technology