TrustSwap

Feb 14, 2021

6 min read

SOTA Announces February Token Offering On TrustSwap Launchpad

SOTA, the emerging multi-chain NFT platform, has announced that they will integrate with TrustSwap to aid in the execution of their token offering on February 18th from 9:00 AM to 9:00 PM PST.

NFT technology has brought an evolution to the digital content market with new solutions to recognize the true creators and owners of digital content. The NFT market has been catching the spotlight in recent months with some major media channels forecasting that 2021 will be “The Year of NFTs”.

Most current NFT platforms are built on the Ethereum blockchain. However, the high gas prices of the Ethereum network make it very expensive for users to create and trade NFTs. It currently costs about $30–$40 USD to create an NFT on the Ethereum blockchain (Feb 2021).

SOTA is a next-gen NFT platform that targets multiple blockchains to allow creators to optimize the underlying blockchain networks for NFT creation and trading. SOTA team has launched the first version of the platform on Binance Smart Chain network, which means much lower costs for the creation and transaction of NFTs. SOTA will gradually add other efficient blockchain networks to encourage and grow the adoption of NFTs.

SOTA platform’s key features:

  • An engine that allows creators to easily mint NFTs of their digital content within an optimal blockchain network
  • A marketplace where users can collect (farm or buy) and sell their NFTs with minimal transaction costs
  • A social network where fans can follow and interacts with their favorite creators
  • A channel where brands connect with users for marketing and promotion

For more information about SOTA, please visit https://landing.sota.finance/en and https://sota.finance/en

Core Team

For complete team bios, please check the SOTA website here

SOTA Token Offering Execution

SOTA Token Offering will be executed by leveraging the TrustSwap Launchpad. Upon the conclusion of the offering, a Uniswap pool will be created on 23rd February, 2021 and trading can commence for use of $SOTA in the sota.finance network.

SOTA Token Offering Details

Initial Allocations and Vesting Schedule

Participation and Allocation

To participate in the $SOTA token offering, you must:
1) Be staking at least 3500 $SWAP tokens.
2) Not be domiciled in the USA or UN-sanctioned counties.
3) Successfully pass KYC

Everyone who meets the requirements above is guaranteed an allocation.

The $1.5M allocation will be split amongst all applicants. Your maximum pledge amount is directly influenced by
1) How many other people join the token sale
2) What tier you are in

The more SWAP you stake, and the longer you stake it, the higher your tier allocation multiplier. The staking snapshot is taken February 18th at 9AM PST

Swap Score is the average amount of SWAP staked over 60 days. You can find your Swap Score here. You do not need to have SWAP staked for any specific length of time for Tier 6 or Tier 5.

SwapDrop

1% of $SOTA’s total supply will be airdropped to the top 1000 SwapScores (snapshot taken at 9 am PST, February 18th). These will be claimable via a 3 month daily vesting contract. For more information on the TrustSwap SwapScore, click here.

1% of the total supply will be placed into a SOTA/SWAP mining pool, and 0.5% will go to the TrustSwap Foundation Fund.

Secure Launch Process

To ensure a smooth launch, SOTA has agreed to:

1) Have their domain fully SSL certified one week prior to presale date.

2) Have their domain protected by Cloudflare and share proof with TrustSwap one week prior to presale date.

3) Disclose the vesting schedule of all tokens, including team, strategic investors, private presale, influencers, etc.

4) Add no less than $200,000 of ETH liquidity on Uniswap immediately upon listing.

5) Distribute tokens to launchpad participants within one hour of Uniswap listing using multisend.io.

6) Lock liquidity within 3 hours of listing for no less than 60 days at http://team.finance/.

7) Provide the timeline for token distributions, and distribute tokens within a one hour window of the agreed upon time.

8) Lock 75% or more of team & dev fund tokens for a minimum of thirty days on http://team.finance/ within 6 hours of funding liquidity on Uniswap.

9) Have at least one community moderator on each social platform (Discord, Telegram, etc.) actively available 24 hours a day for the first 7 days following the launch on Uniswap.

10) Will use a google form for all application collection, and will not embed a third-party provider into the form to ensure a smooth upload experience for participants.

Step-by-Step Guide

  1. Go to http://launchpad.trustswap.org/ at any time during the token offering event on February 18th from 9:00 AM to 9:00 PM PST.
  2. Go through the steps listed to upload your documents and details.
  3. After twelve hours, the portal will close. There will be a waiting period of up to 72 hours as the SOTA team finalizes internal processes. If your application is successful, you will receive an email indicating how much you are able to contribute to the token offering. You will have 24 hours to send the funds, or your position will be given to the next in line.

What Should I Do to Prepare for the Offering?

  1. Based on the requirements set for a guaranteed allocation, stake your $SWAP tokens here before the deadline mentioned above.
  2. Take a photo of your government issued ID card (Passport, Driving License, or any other form of government issued ID card that has your photo in it).
  3. Take a selfie of yourself holding the ID card along with a note that reads: “SOTA”.
  4. Make sure to submit your form during the 12 hour application window from 9:00 AM to 9:00 PM PST on Feb. 18th.

Where Can I Learn More About the $SOTA Offering?

** Launchpad dates are subject to change. This is not an endorsement, partnership or an offer for investment by TrustSwap. SOTA is using the TrustSwap Launchpad as a customer, with specific requests as to how they need their launch to operate. TrustSwap is a provider of non-custodial, smart-contract-based software services. Digital assets carry a high level of risk. Participation is performed at your own risk. Exercise caution and conduct your own due diligence.