Token Sales
A Token Sale is an event where an issuer offers fractions of a vault to investors registered in a market. Token sales can be omnichain, allowing investors to select the chain from which they want to purchase their fractions.
Issuers must specify the assets stored in the vault, set the number of vault fractions, how their price are computed, and the sale duration.
Creating a Sale
Only users registered with the asset issuer role can create a sale. The role is either granted by the market administrator or available to anyone registered in open-access markets. (see User Roles)
Sale types
Depending on the market type, issuers create a token sale to either:
- seek investment by selling fractions of a vault to investors
- finance their project by selling fractions of a vault at a given price, and purchasing them back at a higher price, later in time.
Sale information
Issuers have to specify basic information when creating a sale including a name, a description and a a cover picture
Vaults & Fractions
The process of deploying a sale involves deploying a Vaults and Fractions
- a vault that contains the assets
- sold during investment sales
- or collateralized during financing sales.
- a fraction contract that is sold to investors
Tokens to store in the vault
Depending on the market, the issuer can wrap one or many different types of token standards. Here the issuer specifies
| Data | Description |
|---|---|
| Token addresses | The token contract addresses to be stored in the vault |
| Token amount | The respective amount of tokens that the vault will store |
Fractions to sell to investors
Similarly to tokens stored in the vault, the market defines the token standard of the fraction and how they are capped. Issuers specify
| Data | Description |
|---|---|
| Token standard | Whether the fraction is ERC_721, ERC_20, ERC_1155 as defined by the market |
| Contract name | The name of the fraction contract |
| Contract symbol | The ticker or symbol of the fraction contract |
| Fraction currency | The currency used by investors to purchase a fraction |
| Fraction price | The price of a single fraction. it can be either fixed or dynamically computed from an external source (to mimic NAV) |
| Fraction supply or capitalization | Depending on the market: - The minimum amount of fractions required to be sold for the sale to be successful - The maximum amount of fraction that can be sold - both minimum and maximum. |
In an omnichain environment, fractions are synchronized across the selected blockchains, allowing investors to purchase from any chain, with the total supply and sale progress updated in real-time.
Pre-sale
Issuers can create pre-sales to go to market without the requirement to specify the vault and fraction (any on-chain information.
This allows them to market a future sale, and get investor interest and market feedback without deploying any tokens on-chain.
Approving a sale
Depending on the market rules, each sale must be approved by the market administrator. The approval involves the market admin to sign a transaction to validate the sale
Updated about 1 month ago