IFO Sale Details
- Sale start time: ~12.00 UTC on Thu 27 Oct 2022
- Sale end time: ~14.00 UTC on Thu 27 Oct 2022
- Amount to be raised: $1,750,000 USD in CAKE tokens
- Tokens to be sold: 70,000,000 MGP (7.0% of MGP total supply)
- Price per token: 1 MGP = $0.025 USD
- Token Vesting Schedule: 30% will be unlocked at Sale end time (~1400 UTC), with the remaining 70% released block-by-block over 90 days.
All CAKE raised from the MGP token sale will be given to the IFO project. Only CAKE raised from the participation fee will be burnt.
Method: Public Sale and Private Sale (Both conducted via the Overflow method).
What is the “Overflow” sale method?
Basically, the more you put in, the more you will get, and you’ll get back anything that doesn’t get spent. More details below in the Overflow Multiplier Table.
To participate in the IFO:
Refer to the IFO participation guide and iCAKE article.
iCAKE and locked CAKE cannot be used to buy tokens in the IFO, so you would need a separate amount of CAKE to commit to the IFO.