Dear ERX community,
Many of you were disgruntled and unable to participate in the IEO on ChainX. We suggested a full refund to everyone who participated in ChainX but due to the demand and rejection of refund from the community, we have decided to do a Liquidity Generation Event (LGE) for $ERX in the coming week. This will allow us to harness the power of locked liquidity.
The total amount contributed from ChainX is 56 ETH from 56 participants as we have only allowed 1 ETH contribution from each KYC account. This will ensure that distribution for ERX is fair and not manipulated.
The total hardcap will still be 500 ETH and it remains unchanged.
For the LGE, there will be a hardcap of 444 ETH. There will also be a 3 NFT cap per participating address. ERX will be redeemable via NFT issued, for an example, 1 NFT is eligible to 350 ERX.
75% of the ETH raised will be locked for ERX liquidity which will flow directly into the Uniswap pool for 12 months beginning from ERX listing on Uniswap, while 25% will go to the future smart contract audit related works and and a portion of these funds will go towards marketing for the promotion of $ERX across the crypto space with various influencers.
The initial listing price on Uniswap will be 0.003125 ETH to keep it fair for those that went through the process of participating in the presale.
- ChainX presale price: 1 ETH = 400 ERX (ChainX presale price has slightly better condition as they have supported ERX and the contribution is very small and fair which is only 56 ETH contributed from 56 different KYC accounts)
- ERX LGE price: 1 ETH = 350 ERX (3 ETH cap per participating address with a hardcap of 444 ETH)
- 1 NFT = 1 ETH (350 ERX)
- Any unsold tokens from LGE will be burned.
We will be using RiveX’s Sonce and the ERX_NFT sales will commence on 5th January 2021. Please head on to sonce.rivex.io to purchase these ERX_NFT.
Sprintv1 — The liquidity mining program for ERX will begin right upon ERX listing on Uniswap.
What is Sprintv1?
Sprintv1, the ERX liquidity mining rewards initiative to encourage even deeper liquidity for ERX as well as to create a wider spread and ownership of ERX, will happen upon listing. Read more about Sprintv1 here:
🧲 MORE ABOUT ERX 🧲
Twitter — https://twitter.com/ElasticRX?s=20
Telegram — https://t.me/erxofficial
Medium — https://erxofficial.medium.com/
