FTX to host IEO of Star Atlas gaming project

September 24, 2021

FTX to host IEO of Star Atlas gaming project

Crypto derivatives exchange FTX will conduct an initial exchange offer (IEO) of ATLAS and POLIS tokens of game project Star Atlas. This is announced on the trading platform's website.

Star Atlas is a multiplayer strategy game with a sci-fi storyline. Events are set in a cosmic metavirtual universe in the year 2620. Users can join one of three factions fighting for resources.

Star Atlas runs on the Unreal Engine 5 game engine and the Solana blockchain. ATLAS acts as in-game currency and POLIS acts as a control token. Star Atlas players will be able to trade tokens on FTX and other crypto exchanges.

The Star Atlas token sale will start on 26 August at 16:00 (MSC). Participants need to pass level 2 verification and send 150 FTT or more to the stack. Organisers will not guarantee participation to users with registrations later than August 18, 16:00 (MSC).

FTX will issue and distribute 2,000 tickets to IEO participants. Ticket holders will each receive 180,000 ATLAS and 1,800 POLIS.

IEO participants will receive one ticket each. The exchange may issue additional tickets to users depending on the number of tokens in the stack the day before the tokenseal:

  • from 150 FTT - one ticket;
  • from 1,000 FTT - two tickets;
  • from 10 000 FTT - three tickets;
  • from 50 000 FTT - four tickets;
  • from 250,000 FTT - five tickets;
  • from 1,000,000 FTT - six tickets.

Organisers recommend that funds be prepared in advance for the IEO Star Atlas:

$400 for the minimum bid;
$500 and 5 FTT for the maximum bet.

FTX will be accepting bets from 16:00 to 17:00 (MSC) on 26 August. Tokens will be awarded to the ticket holders with the highest bids. If there are more than 2,000 candidates, the exchange will distribute tokens randomly.

As a reminder, FTX's share of the bitcoin futures market has almost doubled since the end of June, from 9% to 16%.

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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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