Amara Finance IDO FAQ | EN
Our first IDO on Solarbeam is in sight. Soooo excited!!! You must have many questions to ask. Don’t worry, you can find your answers here. We will share without reserve.
Q1: When IDO?
A: Amara first IDO is on Jan. 17, 2022 on Solarbeam Eclipse from 13:00 to 19:00 UTC.
Besides Solarbeam, Amara will launch on at least five launchpads. Stay tuned.
Q2: Besides Solarbeam, which platforms will Amara choose to launch?
A：We have reached cooperation with at least 5 launchpads. We can’t say the names now because we are required to co-announce in accordance with the cooperation agreement.
No doubt, they are really excellent and have extensive influence in the industry. Amara will never let you down!
Q3: What’s the IDO price?
A: Amara will raise $300,000 on Solarbeam and the amount of tokens is 600,000. This is a math problem for primary students, you can do it yourself :)
Q4: How can I join the whitelist?
A: No whitelist for this IDO on Solarbeam. Don’t worry. We have more IDO news to be announced in the near future, whitelist will be provided then. Stay tuned for official news.
Q5: How can I participate?
A: Here is the participation rule.
In order to be eligible for participation in Amara’s IDO you will need to lock some of your Solar in either the vaults or on our new staking feature, veSolar. A minimum of 50 Solar is required to be eligible. There is no time limit on when to lock your Solar, you can even lock them during the IDO.
Based on the amount and the duration of your Solar lock, you’ll have a corresponding multiplier.
Depending on which of the two IDO pools you will participate in (basic or unlimited), the multiplier acts in a different way:
- By participating in the basic pool, your multiplier indicates the maximum amount of $ value you are eligible to commit.
- The maximum commitment in the basic pool is $100 x your multiplier.
- Eg. Let’s say that you locked 50 Solar for one month in either the vaults or veSolar. Your multiplier is 10x. The maximum amount that you can commit in the basic pool is $1000 worth of Solar/Movr LP ($100 x 10 = $1000).
- By participating in the unlimited pool, your multiplier boosts your allocation.
- There is no limit in the amount that you can commit in the unlimited pool. There is also a 1% tax that is used for burns and buybacks.
- Someone with a 100x multiplier will get 100 times more allocation from someone with a 1x multiplier in the unlimited pool, even if they committed the same amount of $.
On the day of the IDO you will be able to make your commitment in one of the two pools. To commit you’ll need to deposit Solar/Movr LP in one of the two available pools on Eclipse.
You can find a guide on how to add liquidity and get Solar/Movr LP, here
Eclipse is using the overflow method, allowing commitments even if the target raise amount of the pool is already fulfilled, leading to a possible oversubscription of the pools.
Eg. Target raise amount of the basic pool is $150,000. The total amount of commitments though, are $1,500,000. That means that there is a 10x overflow on the basic pool (10 times oversubscribed).
In Eclipse there isn’t a guaranteed allocation. At the end of the IDO, your allocation of the MARA tokens will be calculated based on the amount you committed and the overflow of the pool. Any spare Solar/Movr LP will be refunded at the end of the IDO.
Eg. Let’s say that you committed $1000 in the basic pool. The overflow of the basic pool at the end of the IDO is 10x. You will get $100 of MARA tokens as allocation (1/10th) and the spare $900 worth of Solar/Movr lp will get refunded to you immediately after the end of the IDO.
For detailed information, please visit:
Q6: Can you share the tokenomics?
A: To know he latest version of token distribution plan, please refer to Amara official website: https://www.amara.link/#tokensale-part
Q7: When can I claim token?
A: It depends on the launchpads. On Solarbeam, it’s 20% TGE, 16%LINEAR MONTHLY VESTING FROM MONTH 2, MONTHLY CLAIM, which means it will unlock 20% for the first time, and will unlock 16% monthly from the next month. Users can claim on Solarbeam.
Q8: When and where listing?
A: It depends.
- Some launchpads are DEXs themselves, where the listing date will be decided by the launchpad.
- MARA will be listed on other DEXs according to our plan. Stay tuned for official news.
- CEX is also on our schedule. Will keep the community updated.
Q9: Where can I find the token contract?
A: We have deployed the contract on Moonriver and the contract has not gone public yet.
Q10: Is the private sale done?
A: No, our private round 2 is ongoing for institutions and top influencers, not for individual users. If you are qualified and interested in Amara, welcome to contact us @Gree191 or @jane_amara on telegram.
Q11: Why did Anypad post news about private sale on Twitter but the community didn’t get it?
A: Sorry for the confusion caused by our miscommunication. We learnt that Anypad thinks highly of Amara and believe our project is very promising, so they launched the whitelist activity spontaneously. To protect our community’s rights, we are in close communication with Anypad now.
Q12: What DEX are using for moonriver red?
A: You can refer to the official ecosystem graphic on Moonbeam website. It is known to us that Solarbeam and Sushi are pretty good on Moonriver.
The article was published at Jan. 12th, 2022 and will continue to be updated.
About Amara Finance
Amara Finance is a cross-chain financial aggregator for NextDeFi aiming to be the DeFi collaboration center to bridge Polkadot and the off-DOT world. Amara’s core products include: AmaraLend, a multi-chain deployed lending protocol focusing on long-tail assets; AmaraLink, a multisig cross-chain bridge connecting Polkadot and off-DOT world; AmaraPay, an aggregated payment gateway protocol responding swiftly across the world.