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Release details of $MASK released
Note: $MASK is currently unissued and not circulated anywhere.
Everyone has been waiting for a long time. In the previous article, we explained why Mask Network wants to issue $MASK tokens. I feel that everyone is also curious about what role the $MASK tokens will play, and how the public offering is distributed. mechanism.
For details, please see:
Intimate Tips:
Users need to install the Mask Network browser plug-in to participate in the ITO and airdrops~ (click mask.io to get the installation). After successfully setting up the Mask, you'll see a little blue smiley face on the right side of your Twitter account, isn't it cute? This is an exclusive mark that belongs to each Mask user. Mask now has several small functions online, hovering the mouse next to the $ token name (such as $ETH, $BTC), you can easily view the price trend and trade (provided by Uniswap, 0x, Sushiswap); ITO function ; Decentralized file storage and sharing (via Arweave); compliant channel purchase of virtual currency; encrypted text; NFT, etc. Just install Mask at your fingertips, and everything is under your control!
So now, the exciting time has come, and we will explain the details of the public offering in detail.
$MASK token public offering
Total: 8% (1-4 days lockup)
Initial Twitter Offering (ITO): 3%
Liquidity Startup Pool (LBP): 4%
Airdrop: 1%
Initial Twitter Offering (ITO) Fixed Price: 3%
The public offering of Mask Network will first be conducted through Mask Network's proprietary feature, the Initial Twitter Offering (ITO), which allows any Twitter user to subscribe without leaving the Twitter platform itself.
Mask Network's ITO has already had two rounds. The first round was $LRC of Loopring, which was sold out in just three minutes. The second round of ITO is Mirror Protocol's synthetic asset $mTSLA. Both ITOs successfully demonstrated the Mask Network's ability to connect social media and decentralized finance, and also solved a long-standing pain point, that is, Web 3.0 and DeFi have a high threshold for traditional Internet users.
And this just reflects the potential of Mask Network to be a bridge from Web 2.0 to Web 3.0. Mask Network can bridge the gap between the two, allowing traditional social media users to enter the new Internet in a more friendly way and use decentralized financial products.
In order to achieve the fairness of token distribution, the ITO of $MASK will be carried out for 3 consecutive rounds , and the pricing will gradually increase.
$MASK can be subscribed via $USDT , $USDC , $DAI , $BUSD, $HUSD, and $ETH . The maximum subscription limit for each address per round is 2000 $MASK .
The $MASK subscribed during the ITO period will be temporarily locked, and will not be unlocked until February 26, 2021, 11:00 am Beijing time (UTC+8) .
Liquidity Startup Pool: 4%
Then, we will use Balancer's LBP to purchase 4% of $MASK tokens. We need a reasonable mechanism to obtain the real value of $MASK, which is why we use LBP to issue a larger share.
When designing the public sale, Mask Network followed two principles of fairness and user friendliness, which translate into the following:
- Allow ordinary people to participate fairly without competing with robotic scientists.
- Prevent manipulation of token prices and let the market determine the fair value of tokens.
- To simplify the process, any user can create a wallet on Twitter and apply for $MASK.
$MASK LBP Details (36 Hours Total)
Start time: February 23, 2021 at 15:00 (UTC+0)
February 23, 2021 at 23:00 (UTC+8)
Ends: February 25, 2021 at 3AM (UTC+0)
February 25, 2021 11AM (UTC+8)
Duration: 36 hours
Number of tokens: 4,000,000
Subscription currency: USDC
Airdrop: 1%
Inspired by some Web 3.0 and DeFi projects, such as Uniswap, the first mover to reward early users with airdrops, Badger has extended airdrop rewards to various participants within the ecosystem. Inspired by Mask Network, we decided to extend the airdrop object to participants of Mask Network and the entire Web 3.0 ecosystem.
We expect to reward approximately 20,000 users with approximately 1% of the total token supply, with regular users receiving 50 $MASK tokens and heavy users having the opportunity to receive over 400 $MASK. If the airdrop reward is not claimed, it will be linearly reduced by 20% every day, and the reduced part will be returned to MaskDAO.
The unclaimed part will be airdropped again to eligible new Mask Network and other social software client users in the next 3-12 months, see the future incentive plan at the end of this article.
Classification
Donor
Airdrop rewards will be distributed to all users who have donated to Gitcoin in two different rounds or more (8 rounds so far). Mask Network has released Gitcoin donations several times, and all addresses that donate to Mask Network's Gitcoin Grant project before January 1, 2021 will receive more rewards.
Governance
We will reward voting users on Snapshot, as well as other core protocols whose governance systems are not on Snapshot such as Maker, Compound, AAVE, and Curve, until January 2, 2021 at 8:00 am Beijing time. They have played a very important role in driving the development of Web 3.0 and DeFi. Voting users who are active in multiple projects will get more rewards. Anyone who cast more than 2 votes will be rewarded, and those who voted more than 10 votes will be identified as heavy users and get more.
ENS users
Anyone who links ENS to a Twitter account will be rewarded.
The deadline is February 16, 2021 Beijing time.
Mask product users
Mask Network is a decentralized product. For privacy reasons, we do not know who has used our Trading & Swap functions (such as third-party applications Uniswap, 0x, SushiSwap). But we collected on-chain interaction data of Mask Network contracts, such as encrypted red envelopes, NFTs and ITOs. Therefore, users who have used the three functions before February 16, 2021 Beijing time will be rewarded.
Time to Check and Claim Rewards
Users can On February 21, 2021, the day before the start of the first round of ITO, check whether you have the airdrop reward, but you can only claim the airdrop 24 hours after the end of LBP.
Future Incentive Program
The core of this airdrop stems from giving back to early users of Mask Network and incentivizing users of the Web 3.0 and DeFi ecosystem. In the future, if the time is right, we will encourage more traditional Internet users to enter the Web 3.0 ecosystem. The detailed incentive plan will be decided by MaskDAO.
trade start
We will put a total of $2 million in $MASK and $ETH equivalent to $1 million into the Uniswap pool according to the ratio determined by the LBP auction. The time will be earlier than 11:00 am Beijing time on February 26th, which is within 24 hours after the end of the LBP.
Any self-created $MASK trading pair prior to our official creation will be very low-liquidity, and we do not recommend obtaining $MASK tokens from it.
Please click the following link for the specific participation and airdrop collection tutorial of $MASK ITO:
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