Aurora DAO Approves $AURORA IDO

AuroraDAO have voted to approve the process of $AURORA IDO.

Posted by Aliaksei Papou
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Updated: 2021-11-08

We are happy to share the details of the IDO with our community.

The sale will happen in three phases with the increasing amount of $AURORA tokens available for sale. The three chosen platforms (SmartPad, BocaChica, Skyward) are on the NEAR blockchain to develop its ecosystem. All tokens are distributed to the users only at Token Generation Event (TGE), which will happen one day after the Skyward sale. No tokens will be locked.

Important update about KYC

AuroraDAO have voted to implement KYC for $AURORA IDO to be compliant with FATF rules. You have to pass KYC to be able to receive $AURORA tokens. KYC is required to claim $AURORA for SmartPad, BocaChica, and Skyward stages of the IDO.

You will need to login with your participating wallet and indicate a country of your residence through a landing page. The KYC requirements can be found here.

  • SmartPad participants who fail to pass KYC will not be able to win the lottery and will receive their ETH back;
  • BocaChica participants who fail to pass KYC will NOT BE able to claim their funds back or receive $AURORA;
  • Skyward will require KYC to enter the sale.

SmartPad and BocaChica participants need to pass KYC by November 18, 13:00 UTC.

If you're from a blacklisted country and unable to pass KYC, DO NOT participate in the IDO.

IDO Process

Basic information

  • Total amount of sale: 1,000,000 $AURORA
  • Platforms for sale:
  • TGE: November 18, 13:00 UTC

Sale Schedule

All the sales start at 13:00 UTC.

SmartPad Sale

  • Date: November 5, 2021; 13:00 UTC
  • Amount: 50,000 $AURORA
  • Price: $1
  • Accepted tokens: ETH

Any user can participate in the Aurora IDO without the requirements for PAD or aPAD ownership. Users will be able to deposit 0.0125 ETH into the lottery contract in exchange for an lAURORA lottery ticket. The IDO will begin on November 4th at 13:00 UTC and last for 24h.

The contract will determine the lottery winners on November 18th at 13:00 UTC. During withdrawal a user will burn their lAURORA ticket in exchange for either 50 Aurora tokens, or, if they didn’t win the lottery, users will simply withdraw the deposited funds back.

Users can purchase and win an unlimited number of tickets within the allocated 50,000 amount.

More details regarding the SmartPad sale can be found here.

BocaChica Sale

  • Date: November 11, 2021; 13:00 UTC
  • Amount: 300,000 $AURORA
  • Price: $1
  • Accepted tokens: NEAR

BocaChica sale would happen on NEAR with the price of the token $1-worth of NEAR at the moment of the sale. The sale is open to the users who are staking at least 50 NEAR. The size of the check for a single user ranges from $50 to $250. The platform is working on the first come – first served basis.

Skyward Sale

  • Date: November 17, 2021; 13:00 UTC
  • Amount: 650,000 $fAURORA
  • Price: non-fixed
  • Accepted tokens: NEAR

Skyward sale would happen on NEAR blockchain. The sale on Skyward will be open for 12 hours. Due to the specifics of the Skyward platform (continuous token distribution), during the sale we will sell $fAURORA – the future $AURORA token that will be automatically swapped to the $AURORA token at the TGE.

$fAURORA is a non-transferrable token, so once users get it on the Skyward sale, they are unable to do anything with it until it is swapped to $AURORA.

Post-sale activity

All the collected proceedings of $AURORA sale will be put into liquidity pools. Aurora Labs will explore the opportunities to incentivize the pools.

Due to the nature of the blockchain and constant changes in prices, transaction queues etc., the actual implemented scenario may have minor changes.