We are pleased to announce that GO2E Public Sale will begin very soon this month on the official GO2E website with the IBCO — Initial Bonding Curve Offering method.
$GTE price when listing on DEX will be x1.5 Public Sale price
Token name: GTE
Payment token: USDT
Total proceed: 300,000,000 (30%) of the $GTE tokens will be pre-minted and given to the Token Sale Smart Contract during the $GTE Initial Public Sale.
*Please refer to $GTE Tokenomic for more detail.
Public Sale time: 12:00 UTC Oct 20, 2022 – 12:00 UTC Oct 25, 2022
IDO time: 12:15 UTC Oct 25, 2022
- WHY GO2E CHOOSE IBCO FOR THE INITIAL PUBLIC OFFERING?
IBCO stands for Initial Bonding Curve Offering, and it is simply another funding method for public sale rounds that uses cryptocurrency, similar to ICO/IDO.
The purpose of IBCOs is to address the earlier issues by the use of bonding curves from Decentralized Exchanges (DEXs) and achieve these goals for our initial public sales:
- Sniper Bot and Bidding Bot resistant
It is pointless to use bots or other automated methods to contribute funds because the final price is set by market participants within the IBCO’s time frame.
- Flexible time and collective contributions
There’s no need to rush in and try to get the best deal because all contributions will result in the final token price that everyone pays. Participants in the GO2E IBCO will have a 1-week deposit period during which they can contribute or withdraw funds.
- Equal and fair market buy-in price for all participants
Because market participants determine the final price, the buying price will be the same.
- Option to withdraw contributed funds
Participants will be able to withdraw their committed funds throughout 1 week of the IBCO, with some restrictions imposed on donations over 100 USDT in total value. These limits are in place to dissuade large capitalists from manipulating prices.
- No pumps and dumps by whales
This method can prevent whales who only take part in the event from inflating the price of GTE tokens, where they commit large sums of USDT then withdraw at the very last minute to acquire a major amount of GTE tokens committed for IBCO at a lower price than the actual fair market value.
- HOW IBCO PRICING WORKS?
IBCO name refers to a bonding curve rather than the fixed ICO / IDO prices. The Bonding Curve concept is simple: the price of tokens is determined by their current supply. The more money raised in public sale rounds, the higher the prices at the time.
Let’s go through the following example to understand how IBCO pricing works:
Assumption: Initially, there are 1000 $GTE Tokens for Sale in the IBCO at a starting price of $0.5 per Token.
In the 1st interaction
- Person A contributes $500
- There are now $500 and 1000 $GTE Tokens in the $GTE Initial Token Sale Contract.
- The current price is $0.5 for each $GTE Token.
In the 2nd interaction
- Person B contributes $350
- There are now $850 and still 1000 $GTE tokens in the sale contract.
- Hence, the current price of each GTE token is $0.85
In the 3rd interaction
- Person A withdraws $100
- There are now $750 and 1000 GTE tokens in the sale contract
- As a result, the current price of each GTE token is $0.75
The token price should reflect the equilibrium reached by market participants – sellers and buyers. Unlike an IDO, the market determines the final price of an IBCO. The initial price is only a guideline; market participants determine the final price.
- HOW TO PARTICIPATE IN THE $GTE INITIAL PUBLIC SALE?
Step-by-step instructions to participate in the $GTE initial public sale: https://blog.go2e.io/guide-to-participate-in-gte-initial-public-sale-ibco/