Initial Presale Closed: What Comes Next ?

1. RESULTS OF THE INITIAL PUBLIC PRESALE

The initial public presale of SVX tokens started on January 25th 2021 and ended on February 8th 2021.

In total 47 investors participated in the initial presale. A sum of 57,69546061 ETH could be raised in this first presale round. The average transaction fee per contribution has been 0,01135209 ETH or 19,79 USD respectively.

Savix team thanks all initial investors for their trust and engagement at this early project stage. We know very well that a decision to invest into a project in this early stage is often accompanied by doubts and feelings of insecurity.

To take this into account and to acknowledge this a total bonus of 576,9546061 SVX tokens will be given to the investors of the initial presale. All in all 4038,68 SVX tokens out of 5000 (80,77%) have been sold.

All investments of this first presale round are listed below. We encourage all investors to check their contributions and reach out to us in case of questions or inconsistencies.

You can also access the list via google drive

For the time being the transfer of the bonuses is put on hold. This is because the Savix contract will be re-deployed for the following reasons:

• Integration of a burn function (see 3.1)
• Requirements to launch a sale on Unicrypt (see 2.2)
• External audit (see 3.2)

We consider this measure to be important to ensure a successful “going-public” of the SVX token.

Initial presale holders will have to do nothing. The new SVX will be airdropped automatically to the ETH addresses (see table) from the re-deployed contract, right after the creation of the Uniswap pool.

2. THE ROAD AHEAD — NEXT PRESALE PHASES AND OFFICIAL TOKEN LISTINGS

The main objective of the next development phase of Savix is to broaden its user base to ensure sufficient liquidity for the start of public trading markets on Uniswap and exchanges. We assume this to be among the main interests of all investors as well, since this is the only way to ensure price stability and reduce the impact of unforeseen dumps of users trying to profit from the arbitrage between presale prices and public trading starting prices.

To achieve this aim the team decided to follow a two-fold strategy. Firstly, by splitting up the next presale phases and executing them in cooperation with different partners. This will open up new user bases which potentially would not have been in easy reach without those partnerships. Secondly, new marketing co-operations with experienced partners will be set up in order to make Savix more popular and to create more awareness around the project.

This will be accompanied with a dedicated bounty program and general advertising campaigns with banners and the like. The biggest part of the funds raised in the initial presale will go into these partnerships and marketing costs. We believe this to be the best choice in order to make Savix a profitable long-term investment for all investors.

2.1. Initial Exchange Offering

Savix is partnering up with Exmarkets. This exchange has been among the most promising exchanges for initial exchange offerings in the last years as rated by icoholder.com, dailyfintech.com or finyear.com.

The exchange is listed at rank 80 at coingecko and at rank 93 at coinmarketcap. Exmarkets is based in Lithuania within the European Union.

Additionally the IEO partnership with Exmarkets includes marketing campains, Exchange listing with two trading pairs directly following our Uniswap listing.

The IEO will be executed in several phases each having different discount rates.

Details on sales phases and exact dates will be published soon.

2.2. Decentralized Launchpad

Just recently a new player has emerged within the IEO / Launchpad market who is aiming to shake up the token launchpad scene in a similar way Uniswap has done it with trading. Unicrypt is offering a very secure and comfortable service for setting up token presales, its unique feature being a seamless integration with Uniswap.

It is a kind of self-service decentralized token launchpad open to anyone, much like Uniswap.

By its programmed conditions most important issues relevant for making a token successful are taken care of automatically. This includes whitelist functions, automatic reimbursements of investors in case of presale failure, handling of token locking, burning and automatic set up of Uniswap liquidity pools directly after the sale ends. Liquidity size is strictly regulated in order to guarantee sufficient stability to investors. A whitelist for auditors helps investors to find trust in audits made by token publishers.

The Savix team came to the conclusion that these security features fit best for our last presale phase, since they guarantee a smooth and secure transition to Uniswap without any possibility of manipulation.

Together with an external audit Savix will execute with one of the auditors whitelisted at Unicrypt, this will increase investors trust in the Savix token and additionally brings a completely new user base to the project, since Unicrypt is associated with a large group of crypto experts holding stakes through Unicrypt governance tokens.

Liquidity will be locked automatically for 6 months, as well as team tokens for 3 months. We managed to integrate the burn address of Unicrypt with the ERC20 method of the Savix contract to calculate the total token supply. This unique feature will enable all exchanges and statistic pages like coingecko to always display correct supply figures.

To avoid any misuse of the tokens put for sale Unicrypt requires as security measure that no tokens shall be transfered to any holders before the Uniswap pool is set up.

Quote from the Unicrypt presale documentation:

Presale failing conditions:

A presale will fail if the softcap is not met by the endblock, or if there is any of your token as liquidity on that pair on uniswap. For example, if your token is called TOKEN1, and the market being created is ETH-TOKEN1, if there is ANY TOKEN1 as liquidity already on the ETH-TOKEN1 pair on uniswap the presale will fail. This is to ensure the guaranteed listing price and listing liquidity is met. You should therefore ensure you do not give out any of your tokens to anyone before a presale as they could initialize a pair on uniswap and seed it with liquidity. If the presale fails, you can use this settings panel to withdraw the presale tokens.”

3. TOKEN BURNS, EXTERNAL AUDITING AND GAS OPTIMIZATION

3.1. Token Burns

If unsold tokens will be burnt has been among the frequently asked questions by investors during the initial presale. Of course this is an important issue since the amount of “free” tokens has huge implications on the risk of market dumps after the official trading starts.

Since Savix protocol embedded staking algorithm uses a rebase mechanic similar to the one used by tokens like Ampleforth, burn functions cannot be implemented in the same way as it is usually made for other tokens not performing any rebasing.

Savix has managed to create a unique burn method which we have not seen implemented in any other token so far, once again proving the innovative strength of its development team.

As a result the total supply of Savix tokens will automatically be adjusted by the amount of burnt tokens while taking into account that the staking mechanics will still work with identical parameters as designed by the mathematics described in the Savix Whitepaper.

Put colloquially, burnt tokens will receive their share of staking rewards as well thus steadily increasing the amount of burnt tokens relative to the rewards all token addresses receive.

We will publish a more technical paper on this new burn concept for rebase contracts soon to make the technological details available to the community of Solidity developers.

3.2. Auditing

Since the new circumstances concerning the avoidance of misuse by premature creation of Uniswap liquidity pools enforce a redeployment of the Savix contract, we will use this opportunity to carry out an external audit by a trustworthy auditing company.

We choose Quillhash as our auditing company since it has a good reputation as well as being affordable and already whitelisted with Unicrypt.

As an additional result of this audit Savix will receive a certificate confirming the compatibility of the Savix contract with ERC20 standards. This can help to simplify negotiations with potential DeFi partners.

3.3. Gas Optimization

While preparing for the external audit, Savix developers will be working on further optimizations of gas costs for token transfers as well. It has been the first priority during the development of the Savix contract to ensure security and correctness of the staking algorithm. Since protocol embedded staking is gas-free by design, transfer costs have not been in the focus of development so far.

It has not been an important issue to make selling of SVX tokens as cheap as possible since we believe that Savix’ value lies more in holding the token and using it as collateral for DeFi investments rather than frequent trading. Gas costs only apply for SVX tokens if they are being sold / moved.

Nevertheless, the recent development of gas prices within the Ethereum network has led us to rethink about the importance of transfer fees in general. As a conclusion we will work on further optimizing of the Savix contract with regards to gas consumption. We cannot know how high the fees will climb in the near future.

The Savix project aims at making decentralized finance products available to non-tech-savvy users. The Savix token enables gas-free automatic staking rewards.

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