$XCAL Round Details
Greetings Insurgent, the $XCAL Discounted Community Round is finally upon us. Although it is a straight forward process, this article will guide you through how to participate.
Greetings Insurgent, the $XCAL Discounted Community Round is finally upon us. Although it is a straight forward process, this article will guide you through how to participate.
How to participate
- Visit https://round.3xcalibur.com
- When you land on the page, you will receive a disclaimer. Read it and check the box to continue.
3. Make sure you are connected to the network you wish to contribute from between Ethereum Mainnet and Arbitrum One.
Here is a guide on how to add Arbitrum to Metamask: https://academy.binance.com/en/articles/how-to-add-arbitrum-to-metamask
4. Connect your wallet.
3. Once you have connected your wallet, scroll down the page and you will see the following.
4. Scroll down further and you will see this card. This card is where you may choose your contribution currency and execute the transactions and well as view metrics about the round. Choose an amount and asset and contribute.
5. Once the round begins - at the bottom of the card above you will see this. In order to participate, you will have to check the box to agree to the terms
6. If you select "terms of round" you will be able to see the SBT that you will receive.
Once you execute your transactions you have successfully contributed. In the case that you did not max out your permitted contribution amount, you will still be able to contribute more throughout the duration of the round.
Frequently Asked Questions
What is the Discounted Community Round?
Our ethos is being impact driven and building our product suite without giving up autonomy and tokens in exchange for mercenary capital. As such, we are having an exclusive Discounted Community Round for our very early community members. XCAL tokens will be linearly vested to round participants, as per industry standards for a capital raise.
When will it begin?
The Discounted Community Round will commence on 28 August 2022 at 15:00 UTC and end on 31 August 2022 15:00 UTC or when the total reserved allocation is filled.
On what chain will it take place?
People will be able to participate in the round on both Ethereum Mainnet and Arbitrum One.
NB: The 3xcalibur Protocol will be deployed on Arbitrum. This means $XCAL tokens will be issued on Arbitrum and DCR claims will be facilitated on Arbitrum.
What is the token supply/allocation reserved for the DCR?
9,000,000 XCAL (9% of the total supply) have been reserved for the Discounted Community Round.
Where can I read more about the $XCAL token mechanics/metrics?
Al details about the $XCAL Token can be found here https://3six9innovatio.gitbook.io/documentation/3six9-products/the-3xcalibur-ecosystem/the-usdxcal-token
What are the valuation metrics?
Round Allocation: 9,000,000 XCAL (9% of total supply)
Price per $XCAL token: $0.50
Round Circulating Valuation: $4,500,000 (i.e total raise amount)
Round Fully Diluted Valuation: $50,000,000
Are there any minimum/maximum contribution amounts?
There is no minimum limit to how much a participant can contribute however there is a maximum limit.
Participants can choose to contribute up to $36,900 on each chain (Ethereum Mainnet & Arbitrum One), meaning that a participant can contribute up to $73,800 if they contribute on both chains.
Who can participate?
Any individual can participate in the Discounted Community Round, with exception of:
- Multisigs and contract addresses
- Citizens/residents of OFAC sanctioned countries
- OFAC Sanctioned adresses
- US residents/citizens
There is no early access and there is no whitelist.
What currencies can you contribute with?
Participants can choose to contribute to the $XCAL Discounted Community Round using up to 5 cryptocurrencies. These cryptocurrencies are: $ETH, $FRAX, $DAI, $USDT and $USDC.
When will the contributors receive their XCAL tokens?
Contributors will not be given XCAL tokens right away. Instead, they will mint an SBT (soul-bound token) which represents an agreement for the promise of future tokens, which is legally bound to the 3six9 Innovatio founder. Think of it like a community on-chain SAFT (simple agreement for future tokens).
After the conclusion of the DCR, we will have a maximum time of 90 days to have the public round/TGE (token generation event) as well as alpha launch of the 3xcalibur Protocol.
This 90 day buffer is simply a placeholder, 3xcaliSwap goes live in less than 60 days.
In order to shorten this time, we will be launching the 3xcaliSwap platform first instead of 3xcaliSwap AND 3xcaliCredit at the same time. This effectively means that TGE and launch will take place a LOT earlier than 90 after the Discounted Community Round.
SBTs will be minted on Arbitrum and Mainnet but $XCAL claims will take place on Arbitrum.
Why is there a 90 day buffer?
This buffer is in place in order to have sufficient time for code (backend and frontend) audits to take place, a C4 (Code4rena) audit contest and a thorough testnet phase.
This 90 day buffer is simply a placeholder, 3xcaliSwap goes live in less than 60 days.
What happens if TGE does not happen within 90 days?
In the case that we are not able to deliver on this promise, contributors will have the right to demand their investments back (in USD value) as long as they can prove that they are the true owner of the the address that contributed.
This will not be difficult to prove as the SBT contributors will receive is a non-transferable ERC721 - it cannot be transferred or sold (unless someone was to buy the private key to the address itself).
Is the SBT significant?
Yes indeed it is, the SBT contributors to the $XCAL Discounted Community Round receive acts as not only a representation of their claim on $XCAL tokens but it also tags contributors as early backers of The 3xcalibur Ecosystem and will be entitled to future airdrops and access to products within the ecosystem.
What is the "discount"?
Contributors to the $XCAL Discounted Community Round will be able to purchase tokens at a 50% discount to the price of $XCAL at launch.
The price of $XCAL at launch will be $1 per token.
Will there be vesting?
Yes there will be. Why? Because of the 50% discount to contributors in the DCR - we want to make sure that participants in the public round are not de-incentivized by the fear of DCR contributors dumping $XCAL on them at an easy 2x.
How long will vesting be?
$XCAL vesting for Discounted Community Round contributors will be 90 days in total. The vesting will begin at TGE/Launch (i.e as soon as the public round concludes) and contributors will be able to claim a portion of their $XCAL tokens every block.
Why are we having this round?
The development of the 3xcalibur Protocol and also that of 3six9 Innovatio began in January as a self-bootstrapped project by our Founder https://twitter.com/xen.
As we are a big team and very talented team, development costs do tend to pile up and in order to ensure all team members are deservedly compensated and we have sufficient runway to support our building - we need to raise capital.