GeoDB Coin ($GEO) — Bonding Curve Token Offering III

Implementation of our $GEO Bonding Curve Offering

5 min readAug 13, 2020

Implementation, phases, and conditions of our $GEO offering

As you all know we will be conducting a special Bonding Curve $GEO Token offering with which we will be deploying our DeFi long-term strategy in the upcoming months.

You can check our full DeFi Paper here.

GeoDB has built its $GEO Token offering based on the following parameters:

a.- GeoDB Coin ($GEO) trading token pair:

The selected token pair for the $GEO offering is: GEO/ETH

b.- Sale Phases:

The offering will be structured in three separate phases:

Phase 1: Pre-Sale 1

Phase 2: Pre-Sale 2

Phase 3: CrowdSale — Bonding Curve Token Sale

These phases will be set up based on the following conditions:

1.- Pre-Sale 1

Date: August 15th, 2020
Starting Time: 14.00 pm CET
Closing Time: 15.00 pm CET
Duration: 1 Hour
$GEO Allocation: 780,000 $GEOs (Approx. at current ETH market price / 390 USDT)
$GEO Price: $0.25 (50% discount over market price — $0.50)
Total accepted ETH: 500 ETH
Min ETH per Investor: 0.2 ETH
Max ETH per Investor: 5 ETH
$GEO Lock-Up: 6 Months

2.- Pre-Sale 2

Date: August 18th, 2020
Whitelist Starting Period: 14.00 pm CET
Whitelist Closing Period: 14.59 pm CET
Open Sale Starting Time: 15.00 pm CET
Open Sale Closing Time: 14.00 pm CET August 20th, 2020
Whitelist from Pre-Sale 1: YES
Whitelist Period: 1 Hour
Open Sale Duration: 47 Hours
$GEO Allocation: 650,000 $GEOs (Approx. at current ETH market price / 390 USDT)
$GEO Price: $0.30 (40% discount over market price — $0.50)
Total accepted ETH: 500 ETH
Reserved for Whitelist: 400 ETH
Reserved for Open Sale: 500 ETH minus Whitelist Allocation (Minimum 100ETH)
Min ETH per Investor: 0.2 ETH
Max ETH per Investor: 5 ETH
$GEO Lock-Up: 3 Months

Informative Note: All participants in Pre-Sale 1 will be whitelisted for Pre-Sale 2. In case some or all of the tokens allocated for whitelisted wallets are not “sold” within the whitelisting window, the remaining tokens will be “sold” on a FCFS (first come first serve basis) during the open pre-sale 2 period.

3.- CrowdSale — Bonding Curve Token Sale:

We have opted for a Bonding Curve Offering, allowing token purchases along prices established by the bonding curve.

Using the general function defined to model the curve, the instantiated function will be as follows:

And the cost function that will allow us to compute the cost of acquiring P tokens when T tokens have been distributed so far is as follows:

Conditions:

The crowdSale will take place for a period of 4 hours.
If there are any unsold tokens, these tokens will be returned to GeoDB foundation’s reserves.
Pre-Sale 1 and Pre-Sale 2 Token Holders will have token lockups. Adequate timing will be provided for these rounds to unlock their tokens as mentioned earlier (6 and 3-month lockups respectively).
Crowdsale tokens are automatically distributed to their contributing addresses.

Time period during which such offer will be available and volume offered:

The crowdSale offering will be open for 72 hours unless the total number of allocated tokens is reached before. The starting date will be announced in the coming days. The crowdsale will start on the 24th of August, 2020.

Crowdsale Starting Date: 24th August 2020 14.00 CET.
Duration: 72 hours
Crowdsale Ending Date: 27th August 2020 14.00 CET.

$GEO Offering pricing Strategy

Crowdsale pricing conditions:

1.- Start Price: $0.40 per $GEO
2.- End Price: $0.60 per $GEO
3.- $GEO Allocation: 4,000,000 $GEOs (Approx. at current ETH market price / 390 USDT)
4.- Initial accepted ETH: 5,000 ETH
5.- $GEO Lock-Up: No Lock-Up

The following information won’t be confirmed in order to avoid gaming attempts.

The total number of tranches
The exact split in each tranche

c.- Post Bonding Curve $GEO Offering — Uniswap Listing:

After the crowdsale sale is completed, $GEO will activate a Uniswap V2 liquidity pool.

UniSwap Liquidity Pool Conditions:

Uniswap V2 starting token trading price will be set with a 10% increase over the last selling price in the Bonding Curve Crowdsale.
GeoDB will provide liquidity towards GEO/ETH adding 25% of total offering proceeds to this initial pool.
Official links for the Uniswap Liquidity Pool will be announced on our official channels. Please do not search Uniswap and attempt to find the listing yourself.
The smart contract token address will be posted at a further date and before we launch the Crowdsale.
Anyone will be allowed to add liquidity to the pool once this has been launched.

d.- Smart contract fund routing

In order to minimize gas consumption for participants, ETH sent to the sales contracts will be left there until the owners of the contracts execute a transfer order. To secure contracts, the address of the owner will correspond to a gnosis multi-signature wallet and will require a 3:5 consensus to operate.

The funds will be transferred to the following accounts:

Pre-Sale 1:

GeoDB’s Foundation account: 50%
GeoDB’s DeFi Account: 50% (Half to be used to fund our Uniswap Liquidity Pool)

Pre-Sale 2:

GeoDB’s Foundation account: 50%
GeoDB’s DeFi Account: 50% (Half to be used to fund our Uniswap Liquidity Pool)

CrowdSale:

GeoDB’s Foundation account: 50%
GeoDB’s DeFi Account: 50% (Half to be used to fund our Uniswap Liquidity Pool)

e.- Whale attack prevention mechanisms (fair distribution mechanism)

Implicit in the nature of a distribution process is the need to increase the number of participants as much as possible in order to avoid potential actions that may go against the interests of the rest of the holders.

However, in a purely decentralized environment, the mechanisms that can be used to achieve a greater number of participants are not easy to conceive. Anyhow, in spite of having the capacity to set limits per wallet, it is not possible to limit the number of wallets that can be used by a single individual, so any limitation of this kind can be easily circumvented.

However, this doesn’t mean that we can’t establish mechanisms to encourage the participation of as many individuals as possible, thus preventing whale concentrations. For this reason, we have established a higher limit to the number of tokens that can be acquired by the same address in the two-presales.

The CrowdSale, due to its own characteristics, incentivizes participation at an early stage whilst potentially discouraging massive token purchases given the probability of a higher price than expected.

For further info and real-time updates please visit:

a) Offering Web: geooffering.geodb.com

b) Telegram Token Sale Channel: https://t.me/geooffering

Tomorrow we will be posting a new article with complete indications on how to take part in our Token Sale. Stay tuned!

The GeoDB team.