About Hot Cross (HOTCROSS)
Hot Cross is a project that provides tools that allow developers to develop projects on many different chains. Hot Cross is supporting the strongest in blockchains built on Ethereum’s EVM such as Binance Smart Chain and HECO Chain.
However, in the future, Hot Cross may expand to Solana, Polkadot or Near depending on the needs of the community.
Hot Cross’s products are very diverse, including: Cross Bridge, Cross Pool, Cross Mint, … this shows that Hot Cross is having a vision in DeFi station for developers.
You can learn more about tokenomics of the Hot Cross project here.
Basic information of Hot Cross IFO
- Opening time: 4:00 PM (May 20, 2021).
- End time: 5:00 PM (May 20, 2021).
- Raised amount: $2.5 million according to the value of CAKE-BNB LP token.
- Token distribution: 50,000,000 HOTCROSS (10% of total supply).
- Price: 1 HOTCROSS = $0.05 USD.
- CAKE value burned after the sale: $1.25 million.
- Sales session: Basic Sale and Unlimited Sale.
Read more: What is IFO on PancakeSwap?
Prepare before opening
Here are some notes you need to remember:
- Prepare CAKE-BNB LP tokens in advance by adding liquidity in PancakeSwap.
- CAKE-BNB LP token price fixing time is 8:00 AM (May 20, 2021) and will be announced on all project channels.
- To buy HOTCROSS, you need to time the sale and commit CAKE-BNB LP tokens to PancakeSwap IFO.
- You can withdraw the remaining balance of CAKE-BNB LP tokens to your wallet after the sale ends.
Hot Cross will be opened for sale under the “Overflow” method.
In the “Overflow” method, users can register as much or as little as they want with the IFO, and their final allocation will be based on the amount they put in as a percentage of all the funds that the user has other put into the sale end time.
Buyers will get their balance back after the sale ends.
Information about 2 opening sessions
Basic Sale (Limit $100/wallet)
- Amount raised: $750,000.
- Token distribution: 30% of IFO Allocation (15,000,000 HOTCROSSS).
- Each wallet can buy up to $100 worth of CAKE-BNB LP tokens.
- If the community’s order value is higher, the number of tokens you can buy will be less, but the token price will not change, the balance will be returned to you after the sale ends.
Unlimited Sale (Unlimited order value)
- Amount raised: $1,750,000
- Token Distribution: 70% of IFO Allocation (35,000,000 HOTCROSSS)
- Each wallet is free to bet the value it wants to buy. The higher the bid value ratio, the higher the token distribution rate will be. Token price does not change, balance will be refunded after the sale. You can see the cases in the chart below.
However, the Unlimited sale opening session will have a fee proportional to the bet value purchased at the time of the sale. For example:
The total amount to be raised is $1,750,000. The community order amount is 100 times larger, equivalent to $175,000,000, the buyer has to pay an additional 1% fee. Please see the fee schedule in the table below
- This is a Stake CAKE program to get HOTCROSS tokens.
- Total tokens distributed: 6,000,000 HOTCROSS.
- Delivery time: 60 days.
- Start time: 5:00 PM (May 20, 2021).
- End time: 5:00 PM (July 19, 2021).
- Reward per block: 3,4722 HOTCROSS.
- Liquidity pair: HOTCROSS-BNB.
- Multiplier: 2x CAKE in the first 48 hours and 1x CAKE in the following time.
Instructions to join IFO on Pancake
I will guide you to participate in IFO on Pancake, specifically as follows:
Step 1: Go to Pancakeswap and connect your wallet
You can access the web IFO Pancake here: https://pancakeswap.finance/ifo.
Then click Connect Metamask wallet in the right corner of the screen.
Step 2: Set up your personal profile
You click on the item Your Profile on Pancake and set up your Profile to join IFO.
Note, you will need 1.5 CAKE to set up your profile.
After setting up Profile is complete, you will see your Profile interface as below.
Step 3: Get LP tokens on Pancakeswap
You need to provide liquidity for the CAKE-BNB pair to get LP tokens and use them in the IFO pool.
Step 4: Deposit LP tokens to buy IFO
Next, during the IFO token period, you need to deposit LP tokens in the IFO section of Pancakeswap. here to participate in buying IFO in two pools: Basic Sale and Unlimited Sale.
After the token sale period ends, you will claim IFO tokens with the amount you bought, the remaining amount will be sent back to you.
In the past, IFO projects on Pancakeswap all had pretty good ATH ROI. You review those numbers through the article: Decoding IFO, PancakeSwap and Uniswap
Hopefully the last article can help you find good investment opportunities on Pancakeswap.
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