INTRO TO EARLY BIRD AND PUBLIC SALES

Fuzion
7 min readJan 19, 2022

EVERYTHING YOU NEED TO KNOW

Photo by Ju Guan on Unsplash

Our Early Bird and Public Sales are soon. Let’s walk through the details so you’re ready when they start, you have a better understanding of how to use the mechanisms of our launch, and insight into why we’re doing things this way. And remember you must complete KYC to participate.

First, let’s clarify some terms:

  • Fair Allocation : The amount a participant can be certain of receiving in a sale, provided they bid enough. It is calculated by dividing the Raise Round Target by # of participants.
  • Minimum Buy : The lowest amount a participant can buy in order to be in the round.
  • Maximum Buy : There is no maximum in the $ATLO sale. Our method of allocating tokens is not First Come First Served, and allocates tokens fairly amongst participants.
  • Pre-Fund : The act of depositing UST into the sale in order to secure $ATLO. Participants may pre-fund more than once during a sale. Early Bird participants can pre-fund both Early Bird AND Public Sales.
  • Over-Fund : Funding more UST than the fair allocation. Participants who want more tokens can fund above the fair allocation amount in the hopes of securing a bigger allocation. The results depend on how many tokens remain un-allocated.

EARLY BIRD SALE

START AND END DATES

START : 28 Jan @ 09:00 UTC
END : 31 Jan @ 12:00 UTC

Early Birds will be able to pre-fund any time within the sale window. Once the participant has linked their wallet, they navigate to the $ATLO launch page and will see a “Prefund Early Bird Sale’’ button.

The values on the buttons are suggestions, you can choose the amount you wish. Also, the UI in this image is not live at the time of publishing the post.

Early Birds will have the option of funding the Public sale too, should they wish. You may contribute to your pre-fund total as often as you like.
Once funds are submitted, they cannot be withdrawn.
Funds submitted to Early Bird or Public cannot be moved from one sale to another.

The sale closes when the below are true:

EITHER
Number of participants = 2500 KYC applications - Failed Applications.
AND
Raise is $2 800 000

OR
The end date is reached.

At any stage that the above criteria are hit, the round will close.

WHY WE CHOSE TO CAP EARLY BIRD PARTICIPANTS

  1. Reward the earliest members of our community.
  2. Minimise uncertainty for participants.
  3. Provide ample time to buy in.
  4. Decent sized allocations.

CALCULATING ALLOCATION

Setting the price, total tokens available and maximum participants means we know the fair allocation for Early Birds. Let’s run through the numbers:

  • 40 million $ATLO in the round
  • 1 $ATLO = 0.07 UST
  • Minimum Buy is $250 (3571.428571 $ATLO)
  • Maximum Participants = 2500

Working off these four constants, we can calculate an allocation like this:

Early Birds — 16 000 $ATLO for $1120 (40m ATLO @ $0.07 and 2500 participants) is the Fair Allocation.

This means, provided an Early Bird pre-funded $1120, they are guaranteed to get 16 000 $ATLO.

However, we also know the following:

  • Some Early Birds failed KYC
  • Some Early Birds will buy less than $1120 worth of $ATLO

It’s a high probability, the average fair allocation will be higher than $1120. Plan Accordingly.

THERE’S A MINIMUM BUY IN

We understand some participants cannot afford the fair allocation, which is why the minimum buy is $250 per round. If you participate in both rounds (Early Bird and Public) the minimum buy in is $250 for each round.

One sale is not connected to the other, and funds cannot be moved between Early Bird and Public. Treat them as two separate sales.

THERE’S NO MAXIMUM BUY IN

You have the option to purchase more than your fair allocation.
This is done by over-funding.

We won’t have exactly 2500 participants in Early Bird, and some participants will buy less than the fair allocation. Early Bird participants with a greater appetite can attempt to buy these “un-allocated” tokens by over-funding.

There is no upper limit.
UST that isn’t used in allocating $ATLO is returned to the participant no later than the TGE. Over-funding is risk-less.

EARLY BIRD SUMMARY

Here’s the important bits to take away:

  • The Early Bird Sale is a closed round with a fixed cap of 2500 whitelisted participants.
  • They must pass KYC to participate.
  • Early Birds can also participate in Public.
  • There is no maximum limit to your over-fund amount.
  • Any un-allocated UST will be returned to you no later than the TGE.
  • You can top up your pre-fund amount at any point during the sale.
  • The minimum buy in of $250 applies equally to both Early Bird and Public. A minimum buy in on one sale does not impact the requirement in the other.
  • Calculate your assumed allocation by dividing the round raise by the number of participants.
    IE $2 800 000 divided by 2500 = $1120.

PUBLIC SALE

The Public Sale has slightly different rules than the Early Bird. It’s designed to reach a wider audience and give an advantage to our community:

START AND END DATES

START : 28 Jan @ 09:00 UTC
END : 31 Jan @ 12:00 UTC

HOW IT WORKS

The public round has two phases.

Phase 1 runs for 48h hours. The first 5000 KYC’d Public Sale participants get a fair allocation in this window. This works out to $640 per participant. Public Sale participants who are part of the 5000 KYC’d will get their fair allocations first.
Early Birds taking part in this round will get allocated out of any un-allocated tokens.
The un-allocated tokens are allocated equally to anyone in Phase 1 who over-funded, along with the Early Birds.
Participants who do NOT claim their fair allocation during Phase 1, risk losing it once we get to Phase 2.
If the target raise has not been met by the end of Phase 1, we move to Phase 2.

Once we are in Phase 2, anyone that is KYC’d can fund the round. They are buying from the unclaimed tokens. Once the funded amount equals the target raise, the round is closed.

Let’s break it down step by step:

Public P1 : Start 28 Jan @ 09:00 UTC

A 48 hour window allows the first 5000 KYC’ed Atlonauts to pre-fund.
Early Bird participants can also pre-fund during Phase 1.

Once the participant has linked their wallet, they navigate to the card and will see a “Prefund Public Sale’’ button. They will see this button because they are in the 5000 KYC’s reserved for this round.

Adding their pre-fund amount, and tapping the button will do 2 things:

  1. Claim their spot on the contract.
  2. Pre-fund the ATLO project contract directly.

Public P2 : Start 30 Jan @ 09:00 UTC

In Phase 2 the Public sale is opened up to anyone that has KYC’d. The “Prefund Public Sale” button will work exactly as in Phase 1 and be available to anyone who has connected their wallet and KYC’d.

WHEN DOES THE PUBLIC SALE CLOSE

The sale closes when one of the following happens:
1. We reach the end of Phase 1 and the raise target has been reached or exceeded.

2. We reach the raise target at any point in Phase 2.

THERE’S A MINIMUM BUY IN

We understand some participants cannot afford the fair allocation, which is why the minimum buy in Public is $250.

THERE’S NO MAXIMUM BUY IN

You have the option to over-fund and request as much $ATLO as you like.

PUBLIC SUMMARY

Here’s the important bits to take away:

  • If you are the first 5000 to KYC for Public, you are in for Phase 1.
  • The fair allocation is $640, based on 5000 participants.
  • Early Birds can also participate in Public.
  • There is no maximum limit to the amount you can over-fund.
  • Any un-allocated UST will be returned to you no later than the TGE.
  • You can top up your pre-fund amount at any point during the sale.
  • If we reach raise target by the end of Phase 1, there will not be a Phase 2.

CONCLUSION

We’ve got ambitious goals and doing our best to attain them:

Our launch is a balance of the principles of simple, clear and fair.
Rewarding our loyal and earliest supporters is a priority.
We’re giving our community an opportunity to participate ahead of everyone else.
Start Atlo off strong.
Give all participants a decent sized allocation.

We hope you’re along for the journey and if you have any more questions about this, feel free to ask them in our Telegram group, Discord or @ us on Twitter, and we’ll try our best to help.

We are Atlo.

#LFL.

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Fuzion

A team building on Kujira. Our first product is Plasma, the OTC platform for everyone. Our second is Pilot, a launchpad in collaboration with the Kujira team.