Why we run IDO for OPLP?
Background
Currently, you are spending BTC just to pay gas fee to mint BRC20 tokens, with an average fee of around $2 per transaction, without knowing whether the token could be sold later or not (no guarantee liquidity).
The entire minting fee goes to the miners, who receive the fee without knowing it came from you, and they do not express gratitude or willing to buy your token and help its price increases.
For example, minting the entire supply of "SATS" tokens with 2 million minting Txs would require a minimum fee equivalent to $50 million. Additionally, the VMPX community has already spent $7 million on network minting fees for VMPX tokens.
So, what is the plan?
We will mint all the BRC20 tokens in one minting round to save on network fees. The total quantity of tokens will be 100,000.
We plan to divide the tokens into 100,000 different portions.
Suppose:
Minting 100,000 tokens in 100,000 rounds would cost approximately 8,000 sats per round (at a network fee of 25 sats/vB).
-> Thus, 100,000 rounds would equate to around 800,000,000 sats (8 BTC) as minimum. If the project gains strong community support, the minting fees could potentially reach hundreds of sats.
-> Users will commit the amount of BTC equal to the number of token they want to buy valued initially at 8 BTC = 800,000,000 sats = 100,000 tokens. Therefore, each token is equivalent to 8,000 sats.
-> The Team will transfer to users the corresponding number of tokens they committed to buy.
Therefore, Tokenomicsinformation of OPLP is calculated below:
OPLP IDO price = 8000 sats = 0.00008 BTC
Total raising fund = 8 BTC
Public sale allocation: 100% of total supply
Unlock 100% at TGE
Uses of Raised Fund
A small portion will be used to pay for network fees when we mint and transfer the tokens to you.
The remaining portion will be allocated to a fund to conduct marketing campaigns, stabilize the token price, and ensure the following criteria:
Buyback Mechanism: Whenever the price drops 30% from the IDO price, buyback mode ON. So the price will never be under 0.000056 BTC (5600 sats)
We will burn 70% of the tokens bought back by transferring them to Satoshi's wallet as a burning action.
30% retaining portion of fund after bought back -> reward community members who help us promote the project by posting Twitter articles. Formula: Total number of followers of the Twitter account x the number of views = the score for that account. We will distribute these rewards weekly to registered Twitter accounts. In case we have no token rewards to distribute because the price cannot drop below 70% of the selling price, rest assured that we have another reward for you in the next phase.
Upcoming Developments
When the community reaches 10,000 holders, we will release NFT Genesis Collection. Half of the NFTs will be distributed to the early participants who committed Bitcoin in the first round, and the remaining half will be shared with Twitter accounts that promote the project and token whitelist holders.
After the NFT Genesis Collection, we will continue to issue a second token called "Reward Token". This token is intended to reward users who have supported the project.
The initial commit participants will have the opportunity to purchase tokens in the seed round.
OPLP token holders will also have the right to purchase.
NFT holders will have the right to purchase as well.
The remaining portion will be used to reward supporting Twitter accounts and for a metaverse game we call SocialFi.
Once our community reaches 20,000 holders, we will launch partner projects through a launchpad. We will charge a certain fee for the launchpad as we have a strong community, and NFT holders will have the opportunity to participate. We will require the projects on the launchpad to demonstrate token price growth, and we will hold BTC as collateral. Additionally, we will also launch NFT-based projects through the launchpad.
We aim to develop the strongest project evaluation system and become the leading project on the Bitcoin platform.
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