Current as of 01 September 2021
Disclaimer: This is NOT financial advice!
Holy cannoli another exciting series of events unfolds on Rocket Launchpad! The $GIF token presale SELL OUT on Rocket marks the FIRST solo-launched project on Tezos from a native launchpad and the FIRST solo-launch SELL OUT. What an exciting start, but we couldn’t have done it without the awesome team over at gif.games and our amazing community. The bar was set high…really high. But with a ton of cooperation and passion, both teams pulled together and conquered a monumental quest!
$GIF Me All the Details!
The time leading up to the sale was enthralling! Tons of great advertising, announcements and community involvement. Everything was coming together and we knew this was going to be a good one, the one Tezos needed to show it is ready for a project launchpad. It was a nail-biter up until the end, but both teams and the community came in clutch to pull it together and make this a full sell out! Lets take a look at the details…
- A total of 20,000,000 $GIF were to be sold in the IDO
- Snapshot for tier whitelisting closed 22 August @1400 UTC
- A total of 253 users were whitelisted
- Rocket Launchpad Tier data
- Milky Way: 59 users
- Triangulum: 194 users
- First Come First Served: 253 users
- Token sale opened on 28 August @1400 UTC and closed 28 August @2230 UTC…with a full sell out in 8 hours!
- A total of 100,000 $XTZ (over $550,000 USD) was raised
Power to the Players!
So you have all these awesome $GIF tokens…so what can I do now? Well, the gif.games team was ready to deliver. With your $GIF tokens, you will be able to stake $GIF to qualify for awesome perked-tiers that reward you based on time staked and amount staked. Aren’t you glad you aped!
The Price of Success
This was one heck of a sale, and the amount of revenue raised during this event was HUGE compared to most IDO launches. Not the worst problem to have as an $XTZ holder, but when it comes to setting funding goals the accelerated price increase of Tezos during the final lead-in days really played a huge factor in how users participated. From the time of our $GIF contract signing to the actual sale date $XTZ had doubled, and that really changes the dynamic of the sale. Luckily, we had a great show of force and the $GIF & $RCKT combo came through. However, moving forward, we have decided that instead of pegging sales to an $XTZ amount, we will keep funding goals set to USD, that way market fluctuation does not create an unachievable goal. We will keep project funding goals to a maximum $300,000 USD to ensure that projects have a good funding pool to work with while also maintaining plenty of room for price growth attract buyers outside of the IDO.
Mission Debrief: $Gulf-India-Foxtrot Signing Out
As always, we know these sales rely a ton on you, the Rocket community. We couldn’t be happier with the level of support we received from each and every one of you to make this happen! With each launch we also learn new lessons from our growing pains, but we strive to become stronger with each lesson learned. This is just the start of something amazing that we will always remember. Thank you for sharing this experience with us, and we will see you at the next one with our TezID $IDZ launch!
Have some feedback? Let us know!