Wen? Now! The Web3 community is buzzing with excitement as Spin, the institutional-grade decentralized trading and investment platform, announces its upcoming token sale. This rare opportunity in the bear market offers three rounds tailored to meet the needs of different investor categories. Let’s delve into the details!
Unlocking the Token Potential
The SPIN token is a versatile asset with multiple functions within the Spin platform.
As a utility and governance token, SPIN enables investors to stake their tokens and receive 50% of the platform’s fees as a reward. Traders and market makers are also incentivized with SPIN tokens based on their trading activity and liquidity provision, respectively. Furthermore, vault investors not only benefit from returns on their investments but also receive additional rewards in SPIN tokens.
These features highlight the comprehensive utility of the SPIN token, making it a crucial element for the sustainable growth of the Spin ecosystem.
The Spin token sale targets a raise between $2,450,000 and $3,500,000, depending on user activity in the priority and invite-only rounds. This substantial funding will propel Spin’s development, expanding its innovative offerings and enhancing the user experience.
Token name: SPIN
Max supply: 1,000,000,000
Supply type: Limited
Initial circulating supply: 48,500,000 (4.85% of the total supply)
Public sale token supply: 70,000,000 (7% of the total supply).
Initial market cap: $2,425,000
Fully diluted market cap: $50,000,000
Blockchain: Ethereum, NEAR Protocol, Polygon zkEVM
Three Rounds, One Chance
The Spin token sale encompasses three rounds, each offering a distinct opportunity for participation.
The Priority Round, exclusively available to Freaky Elves holders on Spin (NEAR Protocol), provides a head start for dedicated community members.
The Round A sale, conducted on Tokensoft (Ethereum), invites select participants to contribute to Spin’s journey.
Finally, the Public Round on Tokensoft (Ethereum and Polygon zkEVM) offers broader access to the Spin token sale, ensuring inclusivity and widespread participation.
* For the priority sale, the minimum check size is the minimum purchase amount per account. The maximum check size depends on the number of NFTs owned by the user but cannot exceed $10,000 (max of 10 NFTs can be activated by 1 account). Each NFT activated increases max allocation by $1,000.
** The Spin Token Generation event (TGE) must occur before the token sale so that the token can be bridged to the NEAR Protocol before the sale. Thus, public sale vestings are calculated based on the Token Listing Event (TLE) or when the token becomes available for trading.
More information will be revealed as we move closer to the token sale date, so keep your notifications enabled!
About Spin
Spin’s institutional-grade platform represents a paradigm shift in the world of trading and investment. Through its innovative implementations on NEAR Protocol and Polygon zkEVM, Spin offers unparalleled scalability, speed, and affordability.
During the first year of its development on NEAR Protocol, Spin has released 3 on-chain products for retail users: Spot trading, Perpetual Futures trading, and Spin Strategies aka DeFi Option Vaults — the first product in the series of Automated Investment Products to be released on Spin.
After becoming the Tier-1 product in the NEAR ecosystem, Spin strategically decided to expand to Polygon zkEVM and build an institutional-grade trading platform in the new ecosystem.
Spin metrics:
- 16,000 users
- $20,000,000 lifetime spot trading volume
- $30,000,000 lifetime perps trading volume
- Spin is in the top-10 dApps on NEAR Protocol & Aurora both by the number of users and by the number of transactions.
- Spin’s NFT collection Freaky Elves is NEAR Protocol’s top-1 collection.
More information about Spin Products can be found at https://docs.spin.fi.
