Tokensale will be held in the format of an auction. Tokens will be packaged in lots that will go to the highest bidders.
The FTX platform will host the Initial Token Offering (IEO) of Maps.me, a map service whose investment round was led by the owner of the crypto derivatives exchange last week. An announcement on the FTX website says the token sale will begin on January 26th. In total, 2 million MAPS tokens are being sold, which will be packaged in lots of 2 thousand tokens each.
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- Maps.me is a mapping service founded by Belarusian developers Yuri Melnichk, Vikrtor Govako and Alexander Zotoraev in 2010. In 2014, Mail.ru Group bought the service for 542 million Russian rubles. In November last year, the holding gave up a non-core asset for it, selling the service to Daegu Limited (part of Parity.com Group) for 1.557 billion rubles.
- FTX’s owner, Alameda Research, acted as the lead investor in a funding round that Maps.me closed on January 17. The service will use the $ 50 million received from investors to create a decentralized financial ecosystem.
- FTX users who registered an account on the platform no later than January 24 and passed the second level of verification will be allowed to participate in the IEO. In addition, in order to participate in the token sale, one of two conditions must be met: to reach a trading volume of $ 50,000 over the last 30 days, or to keep staking at least 1,000 FTT tokens on the platform.
- Each bidder will receive one ticket, which entitles them to purchase 2,000 MAPS tokens. The lots will go to the highest bidder ticket holders. Users will be able to qualify for additional tickets based on trading volume and FTT staking participation.