Start The SubVerse
TL;DR: Link your email to your eligible Substrate account here to participate in our community sale, or wait to participate in the public sale. The sales will be held on March 2nd and 3rd at 2PM UTC via Tokensoft. Tokens will be sold at $2.5 per SUB, with individual allocations capped at $5000 per round. The sale will take place here.
It's finally that time! We've heard our community members asking for a token sale for the last few months, and we figured we should deliver before it's too late. Additionally, we are looking to raise more funds, and increase the distribution of SUB tokens, without going straight to VCs. Why not involve the actual users of the platform instead?
We see raising funds as a win all around, because it will enable us to expand our team, which will lead to better products getting shipped faster, right into your hands. Achieving a wider token distribution is also an important aspect of a healthy blockchain ecosystem, and doubly so for Subsocial, as we operate in the social networking space. We also feel for those that missed our crowdloan, or were confused by the fact that we had two crowdloans, and so they will now have another chance to obtain some SUB before launch.
The sale will consist of two rounds, a community round and a public round, both with the same parameters. The only difference is the community round is specifically for members of our community, while anyone is able to participate in the public sale.
Each round will be held at $2.5 per SUB, with each participant able to purchase up to $5000 worth, for a maximum of 2000 SUB. The minimum purchase amount is $100. There will be 1,500,000 SUB allocated to each round. 10% will be unlocked immediately, and the rest will vest over 6 months following the sale. Accepted methods of payment are DOT, ETH, USDT, and USDC.
In total, there will be up to 3,000,000 SUB available during the sale. These tokens are left over from the 15% Private Sale allocation. If there are more people interested than there are slots, participants will be randomly placed in a queue. Anyone still in the queue by the time 1,500,000 SUB has been sold will not be able to participate in that round. Please note that in the unlikely event of the community sale not selling out, the remaining tokens will be added to the public sale round's capacity.
There are some restrictions on who can participate in the sale. Those from The United States, Iran, Syria, Cuba, North Korea, China, Russia, and the Crimea Region of Ukraine are excluded from the sale, and users will have to go through Tokensoft's KYC to be eligible to participate. This list of countries is subject to change, and the finalized list will be available on the day of the sale.
The sale will take place here.
The first round, which will start at 2PM UTC on March 2nd, will be based on a whitelist. The following groups are eligible:
- Contributors to our winning crowdloan
- Participants in The Dotsama Token Claim
- Members of The Spacers Program, our former ambassador program
- Owners of SubBanners (snapshotted February 14th)
- Testnet validators
- Subsocial users (that made a post or comment in the last 30 days)
If you are eligible for the whitelist, please submit your email here. You will need to sign a message with your whitelisted Substrate account.
If you do not link your e-mail address to your whitelisted Substrate account, you will not be eligible to participate in the community round. The deadline for submissions is 1PM UTC on March 1st.
Many other community sales include a guaranteed allocation. However, if we did this, each participant could only buy around 100 SUB, so we have decided to limit the number of slots to let participants secure a bigger bag. In essence, being whitelisted for the community round gives you twice the chance of getting an allocation as someone that can only participate in the public round.
The second round, for the general public, will start at 2PM UTC on March 3rd. This round will be open to the general public, and may have some steep competition, as Tokensoft has over 100,000 registered users ready to go. Again, any tokens not sold in the community round will be used to increase the total allocation for the public round.
We've got lots of exciting stuff in the pipeline, and we can't wait to share it with you. The team is working hard to make sure everything is ready to ship with no mistakes or bugs, so we can have a perfect launch and ascent into the SubVerse!
To learn more about Subsocial and the future of social networking, check out our links: