Introducing the Tokel IDO on AtomicDEX
Tokel will be conducting an Initial Dex Offering (IDO) on the AtomicDEX (a decentralized, non-custodial exchange) application.
There will be a total of 20 million TKL listed on AtomicDEX, split over 2 phases. As anybody that conducts trades with TKL during the IDO will be considered an Early Adopter of the project, these TKL will come from the Early Adopter allocation as listed in the whitepaper.
The IDO will start at 8 pm UTC on August the 30th. It will run until all offers are filled or for roughly 16 days total, 2 days for Phase 1, 14 days for Phase 2.
Phase 1 - Price Discovery This phase of the IDO, as the name suggests, will facilitate a level of price discovery. 500k TKL will be separated into 50 orders of 10,000 TKL each. The orders will start at 1 TKL for 0.01 KMD to 0.402 KMD increasing in increments of 0.008 KMD per order. These orders will be available for a total of 48 hours. Following that time, the orders that haven't been filled will be removed, and the next phase will start.
Phase 2 - IDO In this phase, the remaining TKL (any left over from price discovery and the previously unlisted 19.5 million) will be listed on AtomicDEX at a single price. These TKL will be listed at 70% of the final Phase 1, price discovery, price. This order will remain available for 2 weeks or until the order is fully depleted. Shall the order not be fully depleted.
For more information, please check out our website, and read the bitcointalk post (it has all the details!) https://bitcointalk.org/index.php?topic=5352009.msg57630295#msg57630295