SOX are go!
The Ethersocks Team is proud to announce the successful launch of the SOX token!
We have been overwhelmed by the love and support shown during the last 72 hours. Watching the vibrant and energized community of Etherhinos stampede into the world of crypto is something that has warmed our hearts as much as Ethersocks are going to warm our feet!
To mark the conclusion of the DODO crowdpool, we would like to provide the following recap so that the growing network of sock enthusiasts can keep abreast of what has occurred so far, as well as get a taste of what is to come.
We began the Ethersocks journey with one principle ambition in mind: the fair distribution of tokenized apparel through an equitable launch. The truth is, the Ethereum ecosystem has been afflicted by some heavily gamed token launches (bot buys, whale hoarding, poor token distribution, etc.) that have left a sour taste in the mouths of many investors — us included.
In order to counter this problem, we decided that the best option for releasing the SOX token would be the DODO Crowdpooling system. 🧦
DODO Crowdpooling has allowed us to limit the SOX token price during the launch phase,thus rewarding those Etherhinos who have supported us during our earliest days — whatever their wallet size or their crypto knowledge.
Have we achieved our goal?
We believe we can answer that with a resounding: Yes! 🍾🍾🎉
At its conclusion, the 3-day DODO Crowdpool — loaded with 1280 SOX tokens — was oversubscribed by an amazing 226%. Rather than meaning that some who participated were left empty-handed (or empty-footed), the stipulations placed on the launch ensured that all were able to receive their fair share of SOX.
- Each participating wallet was able to purchase an initial maximum of 10 SOX at a fixed price of 0.032 ETH per SOX token.
- Once oversubscribed, this fixed price remained in place. Newcomers were still able to submit anything up to the maximum 0.32 ETH for 10 socks, but did so in the knowledge that they would receive a partial refund should there not be enough tokens to grant everyone the maximum allocation.
- With a total of 336 participants, the launch resulted in the creation of a robust community of Etherhinos and provided the necessary liquidity (locked for 90 days) to enable trading. We hope that this will take the project to new heights.
- Sock lovers everywhere will now get the opportunity to say goodbye to the bear market and bear feet, and say hello to the bull market and the SOX Etherhino.
With the conclusion of the DODO Crowdpool the SOX token became tradable https://app.dodoex.io/exchange/ETH-SOX .
The ETH gathered from the crowdpool was added to a ETH-SOX DODO AMM pool, along with the second batch of 1280 SOX tokens, to be locked for 90 days in order to provide the deep liquidity necessary to conduct active trading.
With trading going wild and news of Ethersocks spreading fast, the token price has already appreciated in value by a considerable amount (I swear, this was the price at the time we were posting the article)!
The next stage of the Ethersocks project is now ready to proceed with the activation of the SOX token redemption system.
SOX holders will soon be able to visit ethersocks.io and initiate a token burn that will begin for them two processes:
- An order process will begin for a pair of high quality Ethersocks that will ship directly to the burner’s location!
- An exclusive NFT will be generated and assigned to the burner’s wallet, which can then be simply admired or claimed and used as a tradable asset in and of itself!
Prior to the launch of these automated processes, we are also opening the door to manual redemption of the physical Ethersocks, for the SOX connoisseurs out there that simply cannot wait any longer — which we totally understand!
Simply get in touch with a member of the Ethersocks Team and we’ll walk you through the process, seeing to it that you get your pair of this collectable apparel as quickly as possible.
What? There’s more?
In addition to being able to be traded or redeemed, the SOX token also provides other benefits to our growing community. Holding at least 1 SOX token in your registered wallet grants Discord members access to the Etherhino Community Channel, a private space for project discussion and steering the project , which is also regularly treated to special community airdrops!
We’ve already held several competitions for our community via Twitter and in the project Discord. There are more of these to follow, many built around events designed to grow our community in size and in it’s ability to steer this project and spread the word about Ethersocks far and wide, as well as create the foundation from which to expand our vision of tokenized apparel!
We hope you’ll join us for this journey and look forward to seeing you join the stampede as an Etherhino!