03 labs will conduct public token sales of the O3 token across multiple platforms beginning May 12, 2021. The public token sales follow the community airdrop campaign that concluded on May 10. The date of the airdrop for O3 tokens earned during the community participation campaign has not yet been announced.
The O3 token will be an integral part of O3 Swap’s economic model, yielding holders a portion of the Swap module’s fees. O3 Swap is a proprietary cross-chain protocol that aggregates liquidity sources across various non-custodial exchanges. It is designed to let users exchange tokens in a permissionless manner with a single click.
The O3 public token sale is taking place across exchanges as Initial DEX Offerings and an Initial Exchange Offering. An IDO offers a market for tokens to be purchased on a decentralized liquidity platform via swapping.
In a conversation with Neo News Today, O3 Labs said they intend to distribute a total of 1.55 million O3 tokens across nine platforms. The O3 token will be sold on each of the platforms at an initial price of US $1 per token.
Eight of the nine public token sales will take place over multiple days this week:
- BSCPad (May 12): 150,000 O3
- WeStarter (May 12): 30,000 O3
- Cobak (May 12): 150,000 O3
- DuckSTARTER (May 13): 292,000 O3
- Gate.io (May 13): 150,000 O3
- MXC Exchange (May 13): 100,000 O3
- Bounce Certified (May 13): 50,000 O3
- Mask Network (May 13): 600,000 O3
Looking forward, O3 Labs will conduct the final IDO through Balancer decentralized liquidity platform.
The O3 Swap platform is currently in beta testing, with full launch tentatively planned for Q2/Q3 2021.