ARGO ($ARGO) IGO on VVS
A quick and easy guide on participating in our IGO
Ahoy Argonauts!
Excitement is in the air and we’re 100% hyped for our IGO on VVS finance!
Now we know tons of you are now fully fledged Cronos wizards and witches and have fully mastered the art of launchpads (It should really be a University module on it’s own) — BUT, again, we’re here with our post to help the confused souls out there, dying to join but simply unsure where to start.
Let’s break it down shall we?
$ARGO IGO Details
Basics first. Let’s get all the key deets:
Sale Start Date: 12pm UTC on Thursday, April 28th, 2022
Duration: 24 hours
LP Seeding: 12pm UTC on Friday, April 29th, 2022
Amount to Be Raised: $3,000,000 USD worth of WCRO
Fully Diluted Valuation (or equivalent): $50,000,000 USD
Units for sale: 60,000,000 $ARGO at $0.05 USD per token
Sale Split: 20% to Basic, 80% to Unlimited
IGO Method: Basic Sale: ‘Gem Fair’ and Unlimited Sale: ‘Gem Warehouse’. Both sales will be conducted using the Overflow Method.
Sale requirements of the $ARGO IGO
Just a quick and dirty for all of you who just want the dates and key numbers
1. Basic sale (Gem Fair — $600,000, 20% of Sale Allocation)
- Stake xVVS in VVS Vaults before the Argo IGO, which is launching 12pm UTC on Thursday, April 28th, 2022 and will be active until 12pm UTC on Friday, April 29th, 2022.
- The Gem Fair eligibility snapshot will be taken randomly between April 27- 28th, 2022. To ensure eligibility, have your xVVS staked by April 26th 11:59pm UTC
- Get WCRO Tokens, which will be required to purchase $ARGO.
- Each person can only contribute a maximum of $1000 USD worth of WCRO Tokens for the basic sale
2. Unlimited sale (Gem Warehouse — $2,400,000, 80% of Sale Allocation)
- Get WCRO Tokens, which will be required to purchase $ARGO.
- This sale will have no limit on the amount each participant can contribute
- However, a participation fee will be charged on the total amount pledged to the IGO
- The fee will start at 1% and decrease in cliffs, down to a minimum of 0.2% when the pool reaches 200x overflow from the unlimited sale (Gem Warehouse)
You can participate in either the Gem Fair, Gem Warehouse IGO, or both.
So what’s with the two types of sales?
Basic sale (Gem Fair)
The basic sale is essentially a capped sale, so that allocations do not get skewed by whales. The catch is that you need to stake xVVS in order to qualify
“Oh man, I need to buy xVVS and WCRO for this sale?”
That’s the requirement for a capped sale! Fret not, at current prices, the value you depending on the maturity you want to stake at is as follows
1 Week — 10,000,000 xVVS = $210
6 Months — 7,000,000 xVVS = $147
12 Months— 5,000,000 xVVS = $105
48 Months — 2,000,000 xVVS = $42
Not inciting anyone to choose but staking for 48 months with only $42 sounds like a pretty sweet deal.
Unlimited sale (Gem Warehouse)
Now this sale is for those of you who simply can’t get enough and want more of us — *ahem* I mean, $ARGO
Here, there are no limits to contributions and it’s free for all. You want more $ARGO, you commit more WCRO — simple as that.
The difference here is that you’ll pay a participation fee for this sale based on the following table, depending on the overflow (again, thank you VVS team for the awesome graphics)
Overflows and Refunds
Now of course when you’re purchasing $ARGO, it’s always at the sale price of $0.05. We’re not going to just take all your money silly. You can commit all you want to ensure your allocation, but the final amount you pay is still $0.05 per token, any extra amount is refunded to you.
What happens in an overflow is essentially this, assuming the Basic Sale with a 2x overflow:
Tokens for Sale: 12,000,000
USD per Token: $0.05
Raise Amount: $600,000
Actual Committed: $1,200,000 (2x of $600,000)
Now you’ve committed $500 and are wondering how many tokens you’ll get and your refund. Here it is:
Your Commitment: $500
% of Actual Commitment: $500/$1.2M= 0.041%
Tokens Purchased: 0.041%*12M = 5000
Cost of Tokens: 5000*$0.05 = $250
Refund: $500-$250 = $250
So with your $500 in this situation, you’ve only spent $250 to get 5000 tokens and will receive your remaining $250 back at the end of the sale.
I hope this was simple enough for you all to understand how an Overflow sale works! Now onto a more detailed guide for those of you who need it.
Preparing xVVS for the IGO
Now for those of you who want to participate in the Unlimited Sale only, skip ahead to “During the Sale”. All you need is your WCRO and an appetite for $ARGO.
For those of you who wish to participate in the Basic Sale, read on.
1. Get VVS tokens
First you want to head over to VVS Finance and click “Connect Wallet” on the top right of your screen
Choose whichever wallet you’re comfortable with using, just make sure you have a sufficient amount of CRO to pay for gas — we suggest 10 CRO (The remaining can be used for the sale if you so wish)
Click on the “Trade” Tab on the top left and select “Swap”
Now what you want to do is to select the currency you want to trade with on the first box “you pay”. In this case we use CRO
In the second currency under the segment of “you receive”, select/type VVS. Adjust the value to the exact amount of VVS you require based on the xVVS requirements. You can check for the xVVS:VVS rate here
Once confirmed, click on swap. A popup like the one above should appear. Click confirm swap.
What you’ll next get is a popup from your wallet of choice. In this case, we’re using Metamask. Click on the blue “confirm” button on the wallet popup.
Once done, you should receive the desired amount of VVS
2. Stake VVS for xVVS
Under the tabs on the top left, select the “Earn” dropdown menu and click “xVVS”. Next, Click “Enable” and approve the transaction on your wallet to enable the xVVS module
Once approved, click “stake VVS” and select the amount of VVS to be staked into xVVS. Click on “Confirm” once you’ve input the desired amount of VVS.
As per previous transactions, simply click confirm on the next popup and confirm the transaction on your wallet.
Once done, you should have the desired amount of xVVS in your wallet.
3. Stake xVVS into vaults
On the xVVS page, select “vault” on the top slider and click “enable” to approve the vault module. Same as always, confirm the transaction on your wallet.
You can then click “stake xVVS” and then select the desired duration of vault you wish to stake into. In this case I’m selecting 4 years.
Next, input the correct amount of xVVS into the vault. In this case, for a 4 year vault, I only need 2,000,000 xVVS according to the IGO requirements. Click on “Deposit in Vault”
Click confirm and approve the transaction on your wallet once again.
Finishing that, you should now see the amount of xVVS staked in the respective vault
You’re now ready for the Basic Sale!
Getting WCRO:
Head over to VVS’ Swap page
Select WCRO as the currency you want to swap CRO to
From there as per normal swaps, confirm the transaction on VVS and your wallet and you’re good to go!
During the Sale:
If you’re here, you’ve either have xVVS staked for the basic sale or are participating in the unlimited sale.
Get your desired amount of WCRO ready, head to the IGO page, and commit your tokens!
Of course, you’ll only be able to do so when the sale starts, your patience is appreciated.
After the Sale:
- Your ARGO tokens will be immediately claimable once IGO is completed.
- Your allocation of ARGO tokens is calculated based on the overflow.
- Any unused WCRO tokens will be returned to you automatically upon claiming your ARGO tokens.
ARGO Farm/Mines Post IGO:
- ARGO-VVS & ARGO-USDC liquidity will be seeded immediately after the IGO sale.
- ARGO-VVS Incentivized Crystal Farms will start 60 minutes after the IGO sale. The Farm will last for 60 days.
- ARGO-USDC Incentivized Crystal Farms will start 60 minutes after the IGO sale. The Farm will last for 60 days.
- Stake xVVS earn ARGO Glitter Mine will start emissions 60 minutes after the IGO sale. The Mine will last for 60 days.
That’s all that I have for the IGO. I hope it was informative and we hope to see you on the 28th!
Your Captain, signing off
