THORWallet IDO Details And Guide, November 15th — 15:00 UTC

Thorstarter Valhallaa

Published in

Thorstarter

5 min readNov 11, 2021

We are thrilled to finally share details on the highly anticipated THORWallet $TGT IDO on Thorstarter.

For THORWallet’s Overview and Details guide click here

$TGT IDO Overview

🗓 Date: Monday, November 15th

⏰ Time: 15:00 UTC

🗺 Location: https://app.thorstarter.org/

🧮 Allocation: 1.2% of total $TGT supply

💰 Total raise on Thorstarter: $300,000

💱 Price: $0.025 per $TGT

The THORWallet $TGT sale on Thorstarter will have two components, Stage 1, and Stage 2.

Stage 1 — The stage 1 sale will involve 90% of available $TGT tokens and be available to members of Tier 1, 2, 3, and 4. Participants will get allocations based on XRUNE committed which determines their tier allocation multiplier. The tiers are as follows:

Tier 1: Stakers of 2,500 XRUNE — Receives 1x Allocation Multiplier
Tier 2: Stakers of 7,500 XRUNE (or holders of a THORWallet NFT) — Receives 1.5x Allocation Multiplier
Tier 3: Stakers of 25,000 XRUNE — Receives 5x Allocation Multiplier
Tier 4: Stakers of 150,000 XRUNE — Receives 10x Allocation Multiplier

Stage 2 — FCFS. This first come first serve sale will be for the 10% of remaining $TGT tokens and any tokens leftover from the 90% allocated to Stage 1. All holders of 100 or more vXRUNE, which we call the Community Tier will be eligible for this sale and it will function the same as past FCFS Thorstarter IDOs.

Holders of 100 or more vXRUNE are eligible for this sale.

Thorstarter’s Recommendation

To maximize your satisfaction in the $TGT IDO Thorstarter recommends locking XRUNE in the Thorstarter Tiers Contract to give you the highest chance of receiving a good allocation in Stage 1 of the sale (involving 90% of $TGT available). Holders of vXRUNE will only be granted access to the FCFS sale (Stage 2) involving only 10% of total token supply.

Day of IDO Guide

On Monday, November 15th at 15:00 UTC
Go to the Thorstarter app and select the IDO tab from the top menu bar.
Connect your wallet (top right)
Select $TGT IDO
Choose investment size
Deposit $XRUNE
Receive $TGT tokens (a few days after IDO)

Our Partner THORWallet

All THORChads know that DeFI is the future. While most of it sits in the Ethereum ecosystem, we know that a multi-chain universe is needed to realize the decentralized vision DeFi. Currently, Thorchain is doing a fantastic job in this regard, making swapping native assets from different blockchains in a decentralized manner possible for the first time in history.

Where does THORWallet come into play? THORWallet will allow the DeFi multichain ecosystem to grow substantially by offering accessible multi chain functionality to users, allowing more people that are often discouraged by the complexity of the space to be able to participate.

To accomplish this, THORWallet will release two different apps, one being as simple as possible to attract new users into the space, designed so users won’t realize they are using DeFi; and another one catered to the more experienced DeFi participants that want more advanced features.

The $TGT Token

$TGT will be a multi-utility token, with it’s utility growing as the ecosystem develops.

Burn — Users will benefit from a decrease in supply. 20% of THORWallet’s revenue will be used to buy back and burn $TGT Tokens. This number will increase after THORWallet is out of its bootstrapping phase.

Premium Benefits — Locking / Staking $TGT Tokens will not only help to further reduce the supply and make it more scarce, but also users will unlock premium benefits, such as free trading, enable limit orders, multi wallet options, high APY rewards, and more will be added gradually after launch.

Governance — $TGT will also work as a governance token, allowing the holders to shape and guide the future of the app.

Node Operation — With a big enough treasury, THORWallet will help to further decentralize our THORChain ecosystem by running a full node in Switzerland. Part of these net profits will be used to burn $TGT Tokens.

Community Programs & Gamification — THORWallet will help it’s users to be on top of their finances by offering token rewards (Airdrops) with gamified missions. It’s a Win / Win.

FAQ

Is there a participation fee? There is not.
Is my NFT automatically applied? No, you need to click the “Click For NFT Credit” button on our tiers page
Can I use multiple NFTs in my wallet to multiply my allocation? No.
Will there be a TGT-RUNE pool on THORChain itself, similar to Thorstarter? Yes.
When will I receive my $TGT tokens? A few days after the IDO
Which countries are excluded from the IDO participation? Please note. The sale is only open to non-U.S. persons and entities. In addition, the sale is not and will not be offered or sold, directly or indirectly, to any person who is a resident, organized, or located in any country or territory subject to OFAC comprehensive sanctions programs from time to time, including Cuba, Crimea region of Ukraine, Democratic people’s Republic of Korea, Iran, Syria, any person found on the OFAC specially designated nationals, blocked person list, any other consolidated prohibited person list as determined by any applicable governmental authority.

About Thorstarter

Thorstarter is a first-of-its-kind model: a hybrid IDO launchpad that meets decentralized liquidity and investment DAO. TS will function as a decentralized organization that works as a decentralized venture firm, investing with its own native currency into new projects and splitting 50% of the launch with DAO members via a native governance token — vXRUNE.

DAO members are simply anyone who holds vXRUNE. The DAO treasury will earn fees, and these fees will be distributed in part to vXRUNE holders. The ultimate goal of the Valhalla DAO is simple — to grow the THORChain ecosystem by deepening liquidity for long-tail, up-and-upcoming projects.

Thorstarter currently launches THORChain and ETH projects but will be expanding to Terra in Q4 2021, and Fantom in early 2022.