We are pleased to announce the launch of Initial Farm Offering (IFO) on CronaSwap! IFO is utilized as a type of fundraising event to help new projects raise capital through pre-sale events hosted by decentralized exchanges. Investors like yourself can participate in the pre-sale events and purchase the new project’s tokens.
How does the IFO work?
CronaSwap’s IFO acts as a project launchpad and allows you to discover opportunities to purchase tokens of new projects on Cronos. IFO credits are needed to be eligible to participate in IFO basic sale. Your IFO credits from the IFO CRONA pool will determine the maximum amount of funds you can commit to the IFO event. For IFO unlimited sale, you do not need IFO credits. You will need USDC-USDT LP tokens to purchase new tokens.
On CronaSwap, new projects will set a target fundraising amount and funds will be raised via USDC-USDT LP tokens. This means investors can purchase the new project’s tokens using USDC-USDT LP tokens.
The process for IFO basic sale and IFO unlimited sale will be slightly different. See below images for example.
The IFO will also utilize the “overflow” sale method. Basically, you can indicate the amount of LP tokens you would like to commit. But your final allocation will be based on the amount of funds you put as a percentage of all the funds pooled together in the liquidity pool. This means the more you put in, the more you will get back. And you will also get back anything that does not get spent.
Benefits
It enables CronaSwap users to get first dibs and exclusive access to the purchase of tokens of new projects before it gets listed. And new projects get to raise funds and create initial liquidity via our IFO!
To learn more about CronaSwap’s IFO with a step-by-step guide, please visit here.
Looking to launch your own IFO?
We welcome all new projects to reach out to us for an Initial Farm Offering (IFO) application. Launching your project with CronaSwap can help bring your token directly to our active and growing community on Cronos!
Apply IFO — https://forms.gle/Y9mpAJGVisxU3JyG8
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