We’re ready for our automated OtoCo token pre-sale but decided to hold off taking the first orders
Last week, we announced we’d open our OtoCo token pre-sale window tomorrow, 24 June.
Anybody who wanted “in on the deal” could reserve a place in the queue and lock in their pre-sale token price by staking in a purpose-built smart contract that ensures price integrity and fairness.
Today we’re resetting the countdown to September 21st. The reasons are threefold:
- Summer is here
We expect — and in a way hope! — that the community is less online over this “summer of all summers” as COVID restrictions are gradually being removed. We also know a lot of people who have put guardrails in place to protect their crypto assets over the next weeks. In this light, we didn’t want to put deadlines on a deal that would have expired whilst everybody is away and/or people are taking defensive positions. September should bring clarity.
2. Cost of staking
We also think gas fees will come down over the next weeks, with EIP1559 likely to have a beneficial impact. We feel strongly about giving anybody who wants to stake OtoCo a guarantee of participation and therefore kept the minimum stake at only 100 DAI/USDC/USDT. At current gas fees, gas would still represent 20% of the cost of staking this minimum. Lower gas fees by September should allow more people to reserve our token.
3. Documentation and guides
Our OtoCo launchpool smart contracts are ready and audited by Coinspect. So we could have started taking your first reservations tomorrow.
However, now that we decided to postpone, we may as well use the next weeks to fully document our launchpool approach and put together a complete User Guide. We’ll also work on an additional smart contract that will automate vesting and rewards for longer-term OtoCo token holders. Finally, we’ll work on some new features for otoco.io itself.
We know you all had your wallets primed for tomorrow, ready to stake your place in the queue and lock in your OtoCo token price :-). The countdown is ticking towards 21 September when we’ll all come back refreshed from summer with our crypto wallets replenished!
Please join our official Telegram group for all further announcements to to post any questions you may have.
Originally published at https://otonomos.substack.com.
