Successful Presale! What Comes Next ?
1. RESULTS OF THE PUBLIC PRESALE PHASES
Our presale has been split into several phases. To start with, a complete overview will be given here:
1.1. Initial Presale
The goal of this sales round was to acquire sufficient seed capital in order to build up the sales structure needed for a successful public presale. Since we decided against any private sale this was the most important sales round for Savix, bringing it all on the way.
At this time Savix has not been externally audited and the project has been completely unknown to the public. Hence we rewarded everybody putting trust in our project at this early stage with an extra bonus reward. Including this reward the sales price for the initial presale round was 70SVX/ETH, which at the time was an equivalent of about 22–24 USD per SVX.
The initial presale took place from Jan25th to Feb 08th 2021. In total 47 investors participated in the initial presale. A sum of 57,69546061 ETH could be raised in this first presale round. All in all 4038,68 SVX tokens out of 5000 (80,77%) have been sold.
1.2. IEOs on Exmarket and LaToken
For a DeFi project aiming to reach a large group of users particularly including users, who aren’t technical experts, it seemed to be logical to head for cooperation with centralized exchanges (CEX) for the next presale round. Typically people start getting involved with crypto at a CEX first. Originally we had the idea to start with one of the big exchanges in Korea, since we believed the concept of Savix could fit especially well with the investment culture there. In the end exchanges like Probit turned out to take immense fees just to setup an IEO. Therefore we had to abandon this idea and luckily found exmarkets exchange while researching for an alternative. Having read good sounding reviews about Latoken as an IEO launchpad we decided to add another exchange offering in order to broaden the user base even more.
We allocated 15.000 SVX for each of the IOEs which both started on March 8th and ended on March 26th. The original end date of March 29th has been changed due to the quick sell-out of our ILO at Unicrypt (see next paragraph).
At Exmarkets 14.877,6801 of our 15.000 svx tokens could be sold, around 99,18 %.
At Latoken the IEO did never reach a similar dynamic. It took us a longer while to find out, that one potential reason for this could have been the necessity of applying for a complete tier-2 verification in order to withdraw tokens. At the launchpad it said “users should apply for tier-2”. Only because of users complaints did we find out that the “should “actually was a “must”. Only 1279 tokens out of 15.000 could be sold at Latoken, which is 8,53%.
All unsold tokens will be burnt. Our first burn was a first rough calculation. There might be some tokens missing which we will burn as soon as all numbers are confirmed by the exchanges. At the time of writing we still lack the confirmation for numbers of Latoken.
1.3. ILO on Unicrypt
The main reason for choosing Unicrypt for the final sale phase was the secure way to automatically open up Uniswap pools with locked liquidity. Since Savix depends on a well working and secure Uniswap pool in order to realize the Trinary dapp (see https://savix-org.medium.com/savix-trinary-3-income-streams-explained-7e194a81c507) we think that this was the best choice to make.
The Unicrypt sale was set up to take place between March 26th and March 29th, but sold out within 10 seconds. Finally the complete sale phases were over within the glimpse of an eye.
Now, after having had a rollercoaster like debut at Uniswap, we will see at which level Savix will be able to establish itself at the market.
At Unicrypt 25.000 out of 25,000 SVX tokens have been sold. Additionally 11.497,5 tokens have been used to create the Uniswap liquidity pool.
2. BURN PLAN
Additionally to the tokens that have not been sold although having been assigned to one of the sale phases, there have been some token left unassigned. This is due to the fact, that in January, when we started designing our tokenomics, the Ethereum price had been much lower. Since we did not want to change all prices set up in ETH we decided to leave some tokens unassigned in order not let the market cap grow too much from the beginning.
On the other hand we did underestimate the importance of market making at centralized exhanges. Therefore some of the unassigned tokens have been reassinged to this market making, all the rest have been added to the amount to burn.
After all a total of 23.308,14 token will be burnt, out of which 37,14 were still waiting for the burn at the time of writing.
You can find the burn plan as Google sheet here.
2. START OF STAKING/INFLATION
Our staking mechanism started on March 27th, 10pm UTC.
All holders, who participate in staking, are called to put theirs SVX into any ERC20 compatible wallet they hold the keys of.
Tokens remaining on the DEX will yield rewards for the exchanges wallets and not yours!
An exception are tokens still being on LaToken. Due to the fact that the exchange did not manage to open the token withdrawal in time, we have developed an alternative staking plan for LaToken holders. All investors concerned should read the article on this alternative staking plan in order to understand how this plan will work out for them.
Details on the staking mechanism and on the expected returns can be found in our medium articles on those two topics. Since the total supply has been reduced by our recent burns, you should multiply all figures in the examples given there by 0.75 to get estimations for the current supply.
3. THE ROAD AHEAD — MARKETING PLAN DEVELOPMENT
During the next week to come our team will focus on solid support for a stable market development of the Savix token at Uniswap as well as at the centralized exchanges.
This will include:
- We will launch YouTube videos in cooperation with prominent channels to explain Savix and to give the project a bigger reach.
- We will publish articles at crypto news sites to acquire new audience for the project.
- We will reach out to first real partnerships. During the presale phase we have been primarily cooperating with platforms, helping us to successfully carry out the presales. Now we will focus on other DeFi projects to create first synergies.
- If appropriate, we will place ads on various sites, we believe to be helping at getting a wider reach of new users.
- We will continue making AMAs to keep the community informed and to promote Savix to new communities.
- We will continue to promote Savix to important listing platforms like coingecko, coinpaprika, coinmarketcap, but also to portfolio applications like blockfolio and others.
As soon as things will have calmed down a bit concerning the market movements we will focus on development fo the next milestones defined in our roadmap (https://savix.org/#roadmap).
The first big development will be our Trinary dapp, enabling participants to recieve a share of the fees generated by the Savix Uniswap liquidity pool.
We are thinking of releasing a simplyfied version of our Staking Dashboard sooner than originally scheduled as well. This idea is to make staking returns more visible in a comfortable way. Although this does not change the monetary aspect of the staking, it might help to increase holders when watching their staking in action in a comfortable way.