Cremepie dev team update One of our focuses right now is | CremePieSwap Announcements

Cremepie dev team update

One of our focuses right now is IFOs , so we would like to keep you updated on the process .

First of all let us breakdown what IFO is .

What Is An IFO?
As the name suggests, Initial Farming Offerings are a brand new type of fundraising activity that uses farming events to generate funds for participating projects.
With the help of IFO’s, users can participate in “pre-sales” hosted through DEX’s to get tokens before listing on respective exchanges.

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Before IFO

- Project should prepare amount of IDO tokens and the number of fund they want to raise.
- IDO token will be portion for Basic Sales and Unlimited Sales.
- Users should prepare an amount of LP CPIE/USDT to take part in IFO.

In IFO

- When User commits LP CPIE/USDT to Basic Sales with limited amount of LP and no fee
- When User commits LP CPIE/USDT to Unlimited Sales with unlimited amount of LP with fee from 1%. Fee will get reduced when many LP are commited Unlimited Sales .

After IFO

- User claim token IDO according to their amount of commited LP CPIE/USDT in Basic Sales and Unlimited Sales
- A portion of commited LP CPIE/USDT for fee in Unlimited Sales will be converted to CPIE and be burned
- The rest of LP CPIE/USDT will be remove as USDT and CPIE
- USDT will be sent to project as fund they raised
- CPIE will be burned

We are going to to compelete something to build the test version at weekend. After testing, if there is no critical issue, IFO could be after testing it

In this week, dev Team has already developed full flow of 03 stages as bellow Image.


Stay tuned for the next dev update next week