In our effort to constantly improve the way to carry out our token launches, the Cherish IDO will follow a slightly different format from all previous sales we’ve hosted before. Learn all about it in the following description. Feel free to ask questions and clarifications to the team of administrators on our group channels on Discord and Telegram.
First of all, the Cherish IDO will be split into two sales:
Strategic Sale
The Seedling team negotiated 111,111.111 or $30,000 worth of Cherish Coins $CHC to be made available exclusively to Seedlers, Investors, and Enthusiasts at the Strategic round valuation of the Cherish token sale. Users here will therefore be able to buy Cherish Coins at a price of $0.27 per $CHC. However, the small allocation also means users will not be able to buy a lot, and the available tokens will rapidly sell out. The final individual allocations are:
- Seedler: $1,000
- Investor: $500
- Enthusiast: $250
This round of the Cherish token sale will begin at 10:00 am GMT on February 17th, 2022. At this time, anyone eligible will be able to contribute up to their maximum allocation on a first-come, first-serve basis. The IDO will run for the next 24 hours or until tokens run out — whichever is first. We expect this allocation to run out within a few seconds or minutes.
Public Sale
The main IDO event of the Cherish token sale is the Cherish Public Token Sale. Here, all users, including those with no tier, will be able to purchase $CHC at a price of $0.3 each. The available allocation of Cherish Coins $CHC for this phase of the Cherish IDO is 400,000 $CHC, or $120,000. For this phase of the Cherish IDO, we have devised a combination of guaranteed allocation and first-come, first-serve strategies:
This second and final phase of the Cherish Token Sale hosted by Seedling will begin at 13:00 GMT on February 17th, 2022. At this time, all users will be able to invest according to the following individual allocations:
- Novice: $250
- Junior: $500
- Enthusiast: $750
- Investor: $1,000
- Seedler: $1,500
Those who have already invested in the Strategic IDO will be able to participate in this second, Public phase of the Cherish token sale with an allocation of the next lower tier. For example, if a Seedler invested in the first Strategic Cherish Token Sale, they will be able to purchase an additional $1,000 worth of $CHC; if an Investor who also joined the Strategic IDO wishes to purchase more $CHC, they will only be able to buy a maximum of $750; likewise, an Enthusiast who joined the Strategic phase of the Cherish IDO will have a maximum allocation of $500.
Thanks to these low individual allocations, we expect anyone wishing to join the Cherish IDO will be able — no matter their tier. — Margaret, Seedling Project Lead
The one described above will remain the individual allocation distribution for the first 30 minutes of the Public phase of Cherish’s IDO. At 13:30, unless all 400,000 $CHC are already sold, all of the allocations will increase by $100 such that
- Novice: $350
- Junior: $600
- Enthusiast: $850
- Investor: $1,100
- Seedler: $1,600
and
Those with no tier will also become eligible to acquire up to $100 worth of $CHC.
From 13:30 GMT onward, every 10 minutes, the available individual allocations will increase by $100. Unless we run out of Cherish Coins $CHC to allocate, the increments will go on until 15:00, at which time the final individual allocation will become:
- Novice: $1,250
- Junior: $1,500
- Enthusiast: $1,750
- Investor: $2,000
- Seedler: $2,500
and
Users with no tier: $1,000
This will be the individual token allocation until 12:59 PM of February 18th, or tokens run out — whichever is first.
About Cherish
Cherish is the ultimate web3 decentralized social media designed for privacy and data ownership.
Cherish was built by a team of experienced developers, and incubated by Cherry Labs. Together these teams developed Cherish to leverage the Cherry stack in its full. Cherish uses the Cherry Storage module to store all of its user data including images, video, and blog. Additionally Cherihs’s business logic and core functionality is programmed as a smart contract in the Rust framework ink! and deployed on the Cherry Network.
Cherish is focused on solving real-world issues plaguing artists and creative enterprises, both large and small. Our solutions are tailored and adapted to meet the challenges of tomorrow, developed with scalability and global adoption in mind.
Read more in their pitch deck:
Cherish AMA
We are working to host an Ask Me Anything session with the Cherish team either monday or wednesday of next week to allow Seedling users to pose their questions and get answers directly from the Cherish team. In the meantime you can follow the Cherish socials here:
🌐 Website: https://cherish.cx
👥 Telegram Group Chat: https://t.me/cherish_cx
📣 Announcement Channel: https://t.me/cherishnews
🐦 Twitter: https://twitter.com/CherishDApp
And make sure to check out the alpha version of their dApp: https://cherish.cx
It’s not often we see projects raising funds with a product already in place on which they only need to iterate.
We are very excited about Cherish, and we’re glad for the opportunity to assist with their IDO.
About Seedling
Seedling is the first launchpad dedicated to launching projects on the Cherry Network, as well as the main blockchain networks such as Avalanche, Ethereum, Polygon, Binance SmartChain, Fantom, and others.
Follow us
Join our Telegram channel for more information and to keep up to date with Seedling: https://t.me/seedling_cm
The Announcements for the private and public campaigns will be on our public Telegram channel above and our Announcement channel: https://t.me/seedlingnews
Follow us on Twitter: https://twitter.com/SeedlingCM
Follow our Medium: https://seedling-cm.medium.com/
Discord: https://discord.seedling.cm
Website: https://seedling.cm
