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A Brief Analysis of Sui Ecological DEX Turbos Finance Token Economics and IDO Rules

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Turbos Finance will open IDO on May 12

Original title: " Turbos Finance will open IDO on May 12th "

Original compilation: Sui world

Invested by Jump and strategically supported by Mystenlab, Turbos Finance is a DEX for everyone built on the Sui public chain, and has been launched on the Sui Network mainnet. According to the official news, the whitelist round and the public round of IDO will start from 10 am on May 12th to 10 am on May 14th UTC time. The following Sui World will introduce the innovation of the project and the IDO rules.

Introduction to Turbos Finance

Turbos Finance is the first The decentralized zero-slip perpetual contract trading and spot trading platform on the platform is a decentralized perpetual trading platform driven by Sui (Turbos), with faster transaction efficiency, lower handling fees, and lower liquidation risks. On March 29, TurbosFinance, Sui’s ecological decentralized trading platform, announced that it has received investment from Jump Crypto. As a top investment and trading institution in the encryption field, Jump Crypto has long supported TurbosFinance with strategic partners to build a non-custodial DEX on Sui.

Turbos Finance Features

Turbos will build a complete DeFi ecosystem on sui , including three key components:

1) Centralized Liquidity Market Maker (CLMM) Decentralized Exchange Platform (DEX)

2) Permission-free listing of Sui Ecosystem

3) Turbo Finance, an automatic market maker for perpetual contracts It is currently the only DEX on Sui Network that can implement abc intelligent routing. The centralized liquidity of Turbos allows users to customize the price range of LPs and see the corresponding APR, helping LPs maximize their profits and avoid excessive impermanent losses. In addition, Turbos has integrated wormhole, which is convenient for users to transfer assets into Sui Network for transactions.

In order to realize the permissionless listing of Sui ecology, Turbo Finance launched TurbosBoost and TurboStar respectively, which will provide better support for the IDO of ecological projects. TurbosBoost is a training camp jointly organized by Turbo Finance and MystenLab. Participate in the voting and get the highest ranking, and get the opportunity to be recommended by Turbos and Mysten to investment institutions and cooperative CEXs; TurboStar is developed by Turbo Finance with 0% handling fee IDO platform.

In addition to spot trading, Turbos Finance will also launch perpetual contract derivatives trading. Perpetual contract transactions require the public chain to support high-speed and low-cost transactions, which is very suitable for Sui’s public chain characteristics. This product of Turbos Finance is worthy of attention.

Turbos Finance Token Economy and IDO Rules

Turbo Finance’s Token 90% of income in economics will be allocated to Token Holders and TLP liquidity providers. Native to Turbo Finance Token for $TURBOS with a max supply of 10,000,000,000 Token , the team holds total Token 18% of the allocation, investors hold 15%, the treasury including IDO, IEO and partners account for 12% of the total allocation, while 5% is allocated to marketing and operations, and 50% is used for mining and incentive rewards.

Detailed rules of $TURBOS IDO

TURBOS IDO will be held on TurboStar, Turbos Finance's native Launchpad platform. 0.5% of the total $TURBOS supply is allocated to TurboStar IDO.

Turbos IDO is divided into two rounds: whitelist round and public round.

The duration of the whitelist round starts from the morning of May 12, UTC time From 10 am to 10 am on May 14th, during the whitelist round, there will be 3 pools on the TurboStar platform: IDO quota based on Level1, Level2, and Level3. Users should select the corresponding pool according to their own whitelist level (ie Level 1/2/3).

For example, wallet address A has a Level 3 whitelist. When he enters the Level3 pool to connect to the wallet, the platform will verify that the wallet address is in the white list and allow user A to submit SUI in the Level3 pool Token . If wallet address A enters the Level 2 or Level 1 pool, he/she will not be able to deposit SUI Token And participate in IDO.

Whitelist users can The allocated quota will be $SUI Token Locked in the IDO pool, wallet addresses that are not in the whitelist will not be able to participate in the whitelist round.

public round Starting on a first-come, first-served basis after the whitelist round, each wallet can invest up to $50 worth of SUI Token Come join $TURBOS Token Sale.

When IDO fundraising reaches After the hard cap, users will not be able to deposit $SUI Token Participate in IDOs. $TURBOS Token Distribution will be scheduled from May 15th.

ID on TurboStar O information Summary

IDO start time: May 12th at 10:00 AM UTC IDO ends: May 14th at 10:00 AM UTC Token Distribution: From May 15th IDO supply: 50,000,000 TURBOS Token (0.5% of total supply) IDO Price: $0.005 Hard Cap: $250,000 worth of $SUI

More detailed content: https://medium.com/@turbos/announcing-turbos-ido-bbbfd419d098< /p>