StandardDAO Whitelisting & IDO: Phase 1
This article is the first of two phases to provide information on how to participate and be eligible for whitelisting for the Standard IDO event, the date of which will be announced in Phase 2.
What is the Initial Discord Offering and Whitelisting Event?
Standard is nothing without the backing of its active community members which is why we are launching this IDO to not only bootstrap liquidity on launch but also provide active/early members an opportunity to get in before launch.
The first 1000 discord members to participate will have the option to purchase one of two exclusive whitelisting NFTs which will provide an SDA token airdrop when the project goes live.
Goals of IDO
- Promote community engagement, collaboration, and ownership over Standard.
- Fund liquidity for the project.
- Provide initial assets (liquidity and reserves) in the treasury to back SDA.
- Incentivise holding and voting through utility of NFTs.
Standard IDO release schedule
Two different NFTs will be available for purchase for whitelisted address and will be airdropped at a base price of 5 DAI per SDA.
- $1000 DAI — OG NFT — 200 SDA
- $2000 DAI — OG NFT — 400 SDA
NFT sales will fund launch liquidity for the DAI-SDA LP which will be locked in the treasury on launch. The minimum launch price is $10 and could increase based on participation in the event.
Whitelisters will have the ability to purchase a minimum of 1 NFT of either valuation. There will be a maximum supply of 2000 NFTs distributed to a maximum of 1000 discord members. Priority will be for the first 1000 participants to receive 1 OG NFT, however participants will have the ability to increase their number of spots by completing tasks that support StandardDAO’s growth.
Eligible individuals will be notified of their ability to purchase the OG NFT of their choice at a set date at most 4 weeks prior to the launch of Standard. Once purchase, no further action is required to receive an airdrop of SDA tokens on launch.
NFT utility in Standard Protocol
The goal of the OG NFTs is to build a strong base of community members that believe in the long term vision of the project. OGs who hang on to their NFTs will be provided a number of incentives in the Standard protocol. These benefits include but are not limited to:
- Increased staking yields
- Increased voting rights in DAO
- Airdrops of new NFTs for power users
Utility of OG NFTs will grow over time as the project grows with the goal of rewarding early believers in Standard. Additional incentives coded into the NFTs are to be developed and voted upon by the DAO and community in the future.
What’s next?
All early entrants to the discord will have the opportunity to participate in the whitelisting.
In order to be eligible, each participant will be required to perform three tasks:
- Join the discord
- Help push forward Standard in some way before launch to help get the word out and share in the discord (see below for examples)
- Complete google form linked here
Examples of unique content / participation in Standard
- Memes
- Text translations
- ELI5 documents and videos
- Unique research articles and assets such as a book
- Creating and operating new community social accounts
- Discord moderation and activity
How do I submit my whitelist content?
Submit content to the #communitycontent channel. This channel will serve as a repository of memes, videos, and documents that the community will be able to leverage to reach goals of mass adoption. If you would like to participate in reviewing content, please reach out to the admins in the discord. Warning: Any plagiarism of another community member’s content and trying to push it forward as your own will result in immediate ban.
How do I know if I got a whitelist spot?
Initial eligibility for whitelist will be received as a role promotion to “Standard OG”. Official whitelisters will receive a DM via discord with further direction at a later date.
If I’m rewarded a whitelist spot do I have to buy an NFT?
Whitelisters are not obligated to buy an NFT, however you will not be airdropped any tokens and will have to purchase the tokens you may want when we launch. If you buy an NFT and do not wish to participate anymore, you may sell your NFT on the open market to any buyer who is willing to purchase it. The final airdrop will go to the last holder of the NFT after a snapshot date announced prior to project launch.
Risks and Disclaimers
Please keep in mind that this is a high risk economic experiment, and you are not recommended to bootstrap Standard with funds that you can’t afford to lose as it is possible that you will lose all of your money.
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