Hello Coinecta family! We’re honored to begin the vital process of widely distributing the platform’s utility token. Being on the receiving end of so much support and excitement has been an energizing experience. We’re very grateful for the motivation you’ve all provided.
In this post, we’ll provide an overview of the $CNCT token sale as well as highlight important dates you’ll want to mark on your calendars. As always, questions and feedback are most welcome and encouraged. You’ll find links to all our socials at the footer of this article.
Token Launch Overview:
Coinecta’s launch will make a total of 25,000,000 CNCT (31.25% of the total supply) available to participants.
The exchange rate is 1 ADA = 6.25 CNCT or 1 CNCT = 0.16 ADA.
Of the 25 million tokens available in total:
20 million will be offered during the public presale round.
While 5 million tokens will be reserved for those captured in the Ergopad staking snapshot on November 27th at 17:00 UTC, it’s important to note that all are welcome to participate in this round, even if you don’t stake Ergopad. These tokens will be guaranteed allocations for Ergopad stakers based on their pool weight. Read more about staking in the Ergopad documentation:
- Public Presale Round Whitelisting: November 17th, 17:30 UTC
- ErgoPad Round Whitelisting: November 17th, 17:30 UTC
- Public Presale Round Contribution Window: November 28th, 17:30 UTC
- ErgoPad Round Contribution Window: November 29th, 17:30 UTC
- Liquidity Pool creation: December 1st, 17:30 UTC
Round 1. In the first round, 20 million CNCT tokens are available to the public. The funding target for this round is 3 million ADA.
The contribution window for the public presale round will open with a price of 0.16 ADA per CNCT. The contribution window for this round will remain open for 24 hours.
In this round, participants are able to contribute any amount, without limit.
Funds received during this time will count towards reaching the round-one funding target.
At the conclusion of the first round, the second round will also be open to everyone, but those staking Ergopad tokens will have a specific amount reserved for them based on their pool-weight. Read further for more information about this.
- Public Presale Contribution Window: November 28th, 15:00 UTC
Round 2. In this second round, 5 million CNCT tokens are available. The funding target for this second round is 1 million ADA.
The contribution window for the second round will open at the same price as the first round, 0.16 ADA per CNCT. The contribution window for round two will also remain open for 24 hours.
In this round, participants are able to contribute any amount, without limit. However, each participant’s guaranteed allocation is based on their Ergopad stake pool weight. This means that if this round is oversubscribed, all participants will be issued refunds on a pro-rata basis beyond their guaranteed allocations.
This pro-rata refund will work similar to the public round, but first the Ergopad staker snapshot and whitelist will determine how many tokens are reserved for stakers. Anything above that amount will be refunded using the pro-rata approach after all stakers have received their reserved allocation.
That means if you are a staker, you can contribute more than your allocation if you wish, and if you aren’t a staker, you can contribute and may receive the amount you requested, but it depends on the demand for that round. This gives everyone a chance to get extra tokens if they didn’t receive what they hoped in the public round.
Funds received during this time will count towards reaching the round-two funding target.
- ErgoPad Contribution Window: November 29th, 15:00 UTC
Upon closing, if rounds one and two are both oversubscribed, refunds will be issued to participants in each round on a pro-rata basis. In the event that either round is oversubscribed while the other is undersubscribed, the remaining allocation from the undersubscribed round will be added to the oversubscribed round in an attempt to meet that demand.
Liquidity Pool Creation:
10% of the funds raised are earmarked for DEX liquidity. However, if both rounds of the launch event are oversubscribed, then an additional 5% (15% total) of the funds raised will be added to the DEX liquidity allocation.
In this case, pool creation will consist of 600,000 ADA, paired with 3,750,000 CNCT tokens, for trading to commence at the price of 0.16 ADA.
In tribute to the Optim team, we’ll be following a similar approach to liquidity pool fee selection. The initial fee structure for the first 6 hours will be 15%, followed by migrating the protocol owned liquidity to a new pool with a 3% fee.
- Liquidity Pool creation: December 1st, 15:00 UTC
Refunds and Token Distribution:
The 24-hour period following the two contribution rounds will be utilized to finalize refund and token allotment calculations, as well as prepare for token distribution and liquidity pool creation. All refunds and token distribution will take place immediately following liquidity pool creation, on December 1st, 15:00 UTC.
How do I participate in the upcoming $CNCT token launch?
The Coinecta public presale will take place on the Coinecta platform using the following procedure:
- KYC procedure: All participants must go through a KYC procedure hosted by Sumsub.com, a well-known and reputable KYC provider.
- Whitelisting: Following KYC, all interested participants must whitelist their address by completing the whitelist form.
- Contribution process: Once the contribution period begins, all participants who have been whitelisted and completed the KYC procedure will have access to the contribution form. Participants will use this form to contribute ADA to the Coinecta Treasury in exchange for CNCT tokens.
In addition to this written explanation, we will provide a step-by-step video tutorial. There will also be a tutorial for Ergopad stakers since you will need to link your Ergopad and Coinecta accounts. This also means you won’t have to KYC twice.
What is the Ergopad round, and can I participate?
The tokenomics include a second round with reserved token allocations for Ergopad stakers. The Coinecta team is also the team behind Ergopad, a launchpad on the Ergo blockchain. This is where we started, and we believe that being loyal to our supporters is extremely important.
We also understand the need to be fair to new supporters in the Cardano ecosystem. After careful consideration and ample community feedback, we decided on this balanced approach, which is in the best interest of both groups.
As mentioned above, a reserved allocation is made available to Ergopad stakers (who will contribute at the same ADA/CNCT ratio as the public presale).
NOTE: To be included in the reserved allocation calculation, participants must whitelist an address with staked Ergopad before the snapshot on November 22 at 17:00 UTC .