We are seeking whitelists for LineaBank's IDO, which has the highest Total Value Locked (TVL) on the Linea Mainnet!
The LineaBank IDO will be conducted using the Farming Overflow method and will be open to all users for a 12-day round, without any distinction between WL/Public.
However, WLs will receive additional Airdrops. To receive these benefits, please complete the Galxe mission and become a WL👇
Whitelist Benefits
- Upon joining the IDO, they will receive a share of the $LAB airdrop pool of 500,000 (total of 0.5%) allocated for them.
About LAB IDO:
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Platform: LineaBank (https://lineabank.finance/ido)
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IDO Round : 1 round only, open to both WL and public participants.
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Initial Marketcap : 1.20M
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WL/Public Price: 1 $LAB = 0.000066 ETH ($0.12, 20% off)
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Cex/Dex Listing Price: 1 $LAB = $0.15
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IDO allocation: 9,200,000 LAB (Total of 9.2%)
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Hardcap: 600 ETH
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Duration: 12 days
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Schedule: August 7th, 2023 11am UTC - August 18th, 2023 11am UTC
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Vesting: 30% at TGE and 70% linear vesting over 7 months.
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Format: Farming overflow
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Claim date: August 22nd, 2023 09am UTC
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DEX Listing date: August 22nd, 2023 08am UTC
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Bitget Listing date: (TBA)
What is an ‘ Overflow’ sale?
The Overflow method is a fair mechanism for token sales. It allows users to invest as much as they want, and their allocation percentage is determined at the end date. This ensures that all users can participate in the IDO comfortably and safely purchase in proportion to the amount contributed, rather than competing for a few large allocations.
For example, let's say the IDO has a hard cap of 100 ETH and a total of 200 ETH is raised by the end date. If I invest 1 ETH, my final purchase amount would be 0.5 ETH, and the remaining 0.5 ETH would be refunded.
So, what's a ‘farming overflow’?
In addition, LineaBank's IDO will be conducted through the Farming Overflow method for a period of 7 days. This means that even if you invest relatively early during this period, you can still receive additional Farming bonus $LAB rewards. LineaBank has allocated an additional 200,000 $LAB rewards for IDO participants. For the safety of the protocol, the Farming bonus can be claimed one month after the IDO ends.
LAB Token Utility
The LAB token is designed to increase in value over time through LineaBank's auto-buyback mechanism. The project is currently generating over $500 in revenue per day, with over 90% of the revenue allocated for LAB buyback.
About LineaBank
LineaBank is the native lending platform on Linea, ConsenSys' zkEVM chain. It is a DeFi application that allows users to securely deposit assets, lend, borrow and maximize profits in a 100% on-chain, non-custodial environment.