ShuttleOne $SZO Token sale recap: Bringing the award-winning company to Tezos ecosystem
21 Dec 2021
Instaraise enables ShuttleOne to raise $64,000 through $SZO token offering on Tezos Protocol
The first-ever decentralized fundraising and incubation protocol on Tezos Ecosystem, Instaraise has successfully concluded another token offering on its IDO platform. This time, it is the ShuttleOne Network — an operating system for digital finance that enables multichain functionalities to dApps on Metachain.
ShuttleOne is an award-winning company with millions in asset management. They have recently got featured as the only representative of decentralized finance to win the 2021 MAS Fintech Award.
Organized as a one-day event on December 12, 2021, the 1,000,000 $SZO token offering on Instaraise received a great response from the community as expected. In no time, the participants previously whitelisted for the token sale lapped up over $64,000 worth of ShuttleOne’s Tezos-based $SZO utility tokens to turn the sale into a grand success.
The successful ShuttleOne IDO has added another feather to Instaraise’s cap, which already has multiple successes under its belt.
A Glimpse of the $SZO IDO on Instaraise
As always, Instaraise conducted the $SZO token offering in two distinct rounds. First, the Guaranteed Allocation Round, followed by the First Come First Serve Round. The Instaraise community members participating in the IDO were whitelisted after the successful completion of the KYC verification process. Following the whitelisting, based on their $INSTA staking status, their eligibility to participate in the Guaranteed Allocation and FCFS rounds were determined.
A Housefull Guaranteed Allocation Round
Easily one of the sought-after IDO events on Instaraise, the $SZO token offering received a great response withstanding the highly uncertain market conditions or the weekend slump that’s prevalent in the crypto market.
All the sale participants opted for Guaranteed Allocation by staking the requisite number of $INSTA tokens to unlock the desired allocation tiers. They all received confirmed $SZO allocation including any applicable time and stake leverage benefits, enabling them to become early supporters of the ShuttleOne community at an attractive entry price.
A seamless experience was offered to the participants with the improved interface on top of secure audited IDO infrastructure, automated smart-contract drove liquidity provisioning and locking features.
Added Surprise! Fee Distribution
The enthusiasm shown by the community resulted in a highly successful fundraising round for the ShuttleOne ecosystem. The entire funding derived from this round is used to provide adequate liquidity for $SZO on the Tezos ecosystem.
Meanwhile, Instaraise has decided to incentivize the community for its support by handsomely rewarding a few lucky participants.
Instaraise is soon setting its adopted deflationary model into motion by preparing for the redistribution of fees collected during the $SZO token offering to the ecosystem’s benefit. Instaraise will be “airdropping” a total of 10,000 $SZO tokens to 10 lucky participants. Further, another 10,000 $SZO tokens will be swapped with $INSTA, and locked for a duration of 2 years, thereby adding additional $SZO liquidity to the market while removing a portion of $INSTA from circulation with the intention of driving demand for the platform’s ecosystem tokens.
Continued Development of Instaraise 2.0
The new avatar of the Instaraise IDO platform that focuses on delivering a better user experience through an easy-to-use interface is part of the ongoing Instaraise 2.0 development plan. As Instaraise prepares to introduce other promising projects to the Tezos community, it is also in the process of creating new LP farms and a decentralized exchange platform with unique capabilities.
These upcoming developments are worth waiting for, as they are bound to add more value to the Tezos ecosystem. They will also play a crucial role in providing additional resources to promote further growth of all the existing and future projects that receive support from Instaraise fundraising and incubation protocol.
Keep watching this space for announcements about upcoming IDOs as well as other attractive rewards and incentive programs for the community.