FTX crypto exchange to conduct IEO of Solrise protocol

June 24, 2021


FTX Solrise

An initial exchange offer (IEO) of Solrise protocol (SLRS) will take place on June 29 on FTX. The platform announced this on the ForkLog HUB.

Solrise is a protocol for creating non-custodial funds on the Solana blockchain. Users can invest in existing funds or launch their own.

FTX will distribute 5 million SLRS during IEO. The total issuance of the token is 1 billion SLRS.

The Solrise token sale will take place in an auction + raffle format. To participate, you must:

  • pass the Level 2 verification (KYC) on FTX;
  • obtain tickets for the FTT steaking;
  • 29 June from 16:00 to 17:00 to bid: 200-250 USDT and 5 FTT for each ticket.

Users will receive tickets based on the number of FTTs in the steering:

    over 150 FTT - 1 ticket;
    over 1,000 FTT - 2 tickets;
    over 10 000 FTT - 3 tickets;
    over 50 000 FTT - 4 tickets;
    over 250 000 FTT - 5 tickets;
    over 1,000,000 FTT - 6 tickets.

The SLRS sale starts on 29 June. Tokens will go to the holders of the 1,000 tickets with the highest bids. They will receive 5,000 SLRS each.

If there are more than 1,000 tickets with the highest bid, the organizers will choose winners randomly. The exchange will refund bids to owners of unsuccessful tickets.

Full terms of the token sale are on the IEO Solrise page.

As a reminder, FTX previously announced the launch of perpetual contracts for MV Index Solutions products.

You can find professional bitcoin era review here.

About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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