THE OXYGEN IEO AND OXY ARE NOT BEING OFFERED IN THE UNITED STATES OR TO ANY U.S. PERSONS. IF YOU ARE LOCATED IN, INCORPORATED OR OTHERWISE ESTABLISHED IN, OR A RESIDENT OF THE UNITED STATES OF AMERICA, YOU ARE NOT PERMITTED TO PARTICIPATE IN THE OXYGEN IEO OR TO PURCHASE ANY OXY TOKENS.
Prepare for the IEO
Take a moment to familiarize yourself with Oxygen or scroll to the bottom of this article.
Note: Any user whose 30d trading volumes do not exceed $50,000 or who does not stake 500 FTT by 9 PM SGT, March 10th will NOT be allowed to participate in this IEO. Additionally, any user who has not been approved to at least KYC level 2 will NOT be allowed to participate in this IEO.
Details and guide: https://ftx.com/oxygen-ieo
In order to bid during the IEO, make sure you read the rules below and do the following beforehand:
- Register your FTX account and submit KYC level 2. Due to a large inflow of new sign-ups, any account that signs up past 9PM SGT March 9th 2021 will not be guaranteed entry into the IEO.
- There is no guarantee of your right to participate in the IEO or to receive any allocation.
- Set an alarm in advance: the IEO starts at 9 PM SGT, March 11th.
- Prepare funds to bid: at least 200 USD(T), and at most 250 USD(T) and 5 FTT per ticket for 2,000 OXY.
- You will have one hour to bid: between 9 PM SGT, March 11th and 10 PM SGT, March 11th.
- Trade and buy FTT to lock in your additional ticket allotment 24 hours before the IEO. This means before 9 PM SGT, March 10th.
- Await Results
- There are 1,000 accepted tickets (so 2,000,000 OXY tokens total). At 10 pm SGT we’ll raffle off the allocations. The minimum bid is $200 ($0.1 per OXY) and the maximum bid is $250 + 5 FTT ($0.125 per OXY + 5 FTT). They will go to the highest bidders; in the event that there are over 1,000 tickets each bidding US $0.125 per OXY + 5 FTT, we’ll allocate randomly between them.
- Within a few hours of determining the allocations, the trades will print to the winning buyers’ subaccounts, and they will be able to transfer (non-OXY) funds out of the OXY-IEO subaccount.
- If you do not win your funds will be returned
- If you bid FTT but would have won the auction without it, the FTT will be returned
- All FTT paid will be burned
Rules for Bidding
Each bid ticket, if filled, will result in a trade: you pay your bid price and receive 2,000 OXY. You can enter the number of tickets you would like to submit. Each ticket is an additional entry for another 2,000 OXY tokens; several could theoretically be filled.
- Any user who is qualified for the IEO (account is approved to at least KYC level 2 and has either 500 staked FTT or has done >$50,000 volume in the past 30d) will receive 1 ticket. You may be able to purchase additional tickets based on your trading volume over the past 30 days, and additionally based on your average daily FTT holdings over the past 7 days.
Average FTT holdings for the 7d prior to March 10th, 2021
- > 10: +1 ticket
- > 100: +2 tickets
- > 1000 or FTX VIP: +3 tickets
Trading volume over the 30d prior to March 10th, 2021
- > US$100,000: +1 ticket
- > US$1,000,000: +2 tickets
- > US$10,000,000: +3 tickets
Please take note of the following:
- The above 30d volume updates once per day: the official volume number used will be your 30d volume over the 30 days prior to March 10th 9PM SGT.
- Average FTT holdings are updated every few minutes: the official number used will be the average FTT holdings over snapshots taken on March 10th 9PM SGT and the 7 days prior (also on March 10th at 9 PM SGT).
- Stats are summed across all your ftx.com subaccounts.
- Your maximum number of tickets gets locked in based on data up until 24h before the IEO. We will indicate on this page what numbers are final a few hours after that.
- Please carefully review our Terms of Service, especially as they pertain to trading activity and KYC submission
- All participants agree to abide by the FTX Terms of Service and the Token Terms.
- Any participants found violating the FTX Terms of Service or Token Terms will be disqualified.
- FTX reserves the right to amend the Terms and Conditions of this IEO without prior notice.
- Multiple entrants from a single trader are strictly prohibited and will result in disqualification.
- US residents or residents of any FTX restricted jurisdiction are strictly prohibited.
- Reselling purchased OXY to a resident of the US or any restricted jurisdiction is strictly prohibited.
THE OXYGEN IEO AND THE OXY TOKENS ARE NOT AND WILL NOT BE OFFERED IN THE UNITED STATES OR TO ANY U.S. PERSONS (AS DEFINED IN REGULATION S PROMULGATED UNDER THE U.S. SECURITIES ACT OF 1993, AS AMENDED). PARTICIPATION IN THE OXYGEN IEO AND ALL TRANSACTIONS IN OXY TOKENS ARE SUBJECT TO THE TOKEN TERMS.
WHAT IS OXYGEN?
Oxygen is a DeFi prime brokerage service built on Solana and powered by Serum's on chain infrastructure. Oxygen is built around Pools -- Baskets of assets that take collective actions. Starting with a borrow-lending facility, users will be able to earn yield and get leverage against their portfolios, setting the foundation for a vibrant and decentralised financial ecosystem.
- The OXY token powers the Oxygen Protocol, governing it and 100% of its net revenue.
- Revenue will include fees from 1) network fees (the protocol is likely to charge a fraction of the yield earned by the lenders), 2) trading fees (the protocol may charge fees based on trading volume, asset management pools) and 3) liquidation fees.
- Each token represents one vote and the token holders will vote on binding governance initiatives related to Oxygen Protocol.
- The total supply of OXY will decrease through a buy-and-burn conducted with 100% of the protocol fees.
- 88% of all OXY tokens, including private sale tokens, are locked up for over six years. This means that the team, partners, investors are all committed to the long term success of the Oxygen Protocol.
- OXY tokens are natively based on Solana blockchain as an SPL token and are available as an ERC-20 token.
What sub account do I need to stake FTT in?
FTT holdings are calculated account wide, so they can be staked in any sub account on FTX.
Do I need to Stake FTT and also Trade $50,000 USD in 30d trade volume?
No, to qualify for at least 1 ticket, users can have either $50,000 in 30d trading volume, or 500 FTT staked (this can be in any sub account on FTX).
I have FTT and a high 30d trade volume, why is it saying I have 0 tickets?
Note that the number of tickets will update closer to the date of the IEO.
Project Name: Oxygen
Total Supply: 10,000,000,000
Circulating Supply first year: 250,000,000
Protocol: SPL (Solana) token, ERC-20 wrapper
Official Website: https://oxygen.org