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Changes to Integral’s Newcomers Auction

We are making a few changes to the rules of the Newcomers Auction, which will take place at 12:00 PM UTC on September 14th. The changes are:

1. Change the type of auction to fixed-price (previously variable-price). The token price will now be fixed at 0.9812 USDC, and not fluctuate as the staked amount increases or decreases.
2. Increase the personal hard cap to 1,000 USDC (previously 300 USDC).
3. Increase the $ITGR for participants to bid & claim to 700,000 (now 0.23% of the total token supply, previously 0.03%).

We are making these changes because:

1. To further boost Integral’s awareness through the auction and TGE. We have already seen some signs of success over the past few days (Twitter followers increases from 7000 to 9000), and we want to keep this momentum.
2. To give the participants more freedom when allocating their funds. Under the high gas environment, bidding & claiming on DODO will cost $100 worth of gas, making the cost of investment accounts for 1/3 of the investment itself. We hope to lower this number to 1/10, which will be more economically viable.
3. To set the listing price on Uniswap to be $0.9812, a consensus that the community has reached in April’s Public Seed Round.

Another point worth noting is that the funds collected from the auction will not go to the team. After the auction ends, DODO will automatically set up a tradable liquidity pool with the USDC funds and another 700,000 ITGR. This liquidity position belongs to the protocol’s DAO, not the team.

The updated rules for the auctions are:

* Project Name: Integral
* Token Ticker: ITGR
* Token Contract Address: 0xD502F487e1841Fdc805130e13eae80c61186Bc98
* Crowdpooling Token Allocation (Number of Tokens for Participants): 700,000 ITGR (0.1% of the Total Token Supply)
* Crowdpooling Token Price: 1 ITGR = 0.9812 USDC
* Personal Hard Cap: 1,000 USDC
* Size of the whitelist: 1,000 people

The application for the whitelist will end at 12:00 PM UTC on September 10th (less than 2 hours). If you would like to apply for the auction, please visit this link. Please make sure you submit your KYC document through Blockpass, which is a part of the quests.

For the full information about the auction, please read more here.