Taiwan-based sub-decentralized organization (subDAO), Yield Guild Games Southeast Asia (YGG SEA), has announced that they have postponed the Initial DEX Offering (IDO) sale for its $SEA token that was scheduled to commence on May 9, 2022. The sale was to be hosted on the Copper launchpad and would have lasted till May 14, 2022. YGG SEA is a subDAO of Philippines-based blockchain gaming startup Yield Guild Games (YGG) and has raised $15 million in private funding rounds recently.
What is $SEA public sale?
The $SEA token launch auction scheduled to launch on May 9, 2022, at 15:00 UTC on the Copper platform has been postponed due to unforeseen market conditions. Those holding the $SEA tokens will be refunded. The price of each $SEA token is set at $0.50. A total of 75 million $SEA tokens will be sold in the IDO public sale, which amounts to 7.5% of the total supply of 1 billion tokens. The main objective of the token launch auction is to distribute the $SEA token into the hands of as many participants as possible.
The sale will be hosted on the Copper platform for real-time price discovery, open and permissionless participation, and fair distribution of tokens. Copper is also the most decentralized platform and provides a user-friendly way to participate through Balancer’s Liquidity Bootstrapping Pools (LBPs), allowing more equitable token distribution. It also provides a transparent field for players who want to participate in the IDO.
“The IDO is a once-in-a-lifetime opportunity to appreciate our community’s unconditional support. We are where we are because of the community, and we would like the community to own a piece of YGG SEA through the IDO.”YGG SEA Co-founder, Irene Umar
What is the use of the $SEA token?
$SEA is the official governance token of YGG SEA. The token gives access to whitelist opportunities for GameFi and non GameFi NFTs. Token holders can also vote on governance proposals, upcoming features, reward models, and ecosystem reward allocations.
How to buy $SEA Token?
The duration of the token sale will be 120 hours (5 days). The starting price of each token is $0.50. Starting Pools include 75 million SEA tokens which amount to $2 million.
You need an ERC-20 Compatible wallet and sufficient USDC to purchase your desired number of SEA tokens. Ethereum will also be required for gas fees during transactions.
The following steps show how to connect to copper and buy $SEA:
- You can visit the project launch page directly on the official website.
- READ THE WARNING by Copper and accept the conditions.
- Connect an ERC-20 wallet by clicking connect wallet option in the top right of the screen. You can connect using Metamask.
- You will get the “BUY SEA” widget on the right side of the Auction graph. Click on it and enter the amount you would like to expend for SEA.
- Click “Approve for Trading.” Check the gas fees and “Confirm” to proceed. After the transaction is confirmed, it will change to the “BUY SEA” button. Open it and confirm the purchase of SEA tokens.
- Now you can stake SEA at http://yggsea.vault.inc
About YGG SEA platform?
YGG SEA is the first subDAO of Yield Guild Games, which is a decentralized autonomous organization for managing NFTs in the metaverse. YGG SEA will deliver play-to-earn games to the regional gaming community to boost the gaming experience in Southeast Asia. YGG SEA aims to support local play-to-earn games and acquire game assets suited to the interests of SEA’s player base. YGG has invested in 76 projects and offered 10,000 players scholarships through a revenue-sharing program to provide NFTs to players who cannot afford them to start playing P2E blockchain games.