Written by: TokenMore
Tabi Chain, a modular gaming public chain based on Cosmos, will start its public sale on June 13. The public chain has received US$11 million in financing. Investors include well-known institutions and individual investors such as Binance, HashKey, and Feng Bo. It has also reached cooperation with well-known Web3 protocols such as EigenLayer/Bera Chain and Web2 gaming giants such as Blizzard Entertainment/EA Sports.
Tabi Chain is currently in the testnet stage and will launch the mainnet in the third quarter. Currently, more than 20 Web3 native games and Web2 ported games will be deployed to the Tabi ecosystem.
Upgraded Dutch Auction, fairer price discovery
During the Tabi Chain public sale, 400 million TABI will be sold, accounting for 4% of the total tokens, and will be distributed in the form of seedTABI (convertible into TABI tokens). SeedTABI can be collected after TGE.
The public sale will be conducted in the form of a Dutch auction, divided into 3 rounds, each lasting 24 hours, with a maximum of 133,333,333 seedTABI sold in each round. The starting price of the auction is $0.5 (settled in ETH), and will decrease linearly over time to a minimum of $0.1. When the value of ETH invested by all buyers in that round is equal to the product of the current seedTABI price and the total amount of seedTABI in that round, the auction ends and seedTABI is distributed according to the proportion of ETH invested by buyers.
The Dutch auction method is designed to allow the market to complete price discovery, rather than the project party directly setting the price. However, the conventional Dutch auction or LBP method has disadvantages, and early buyers often have to pay higher costs. The seedTABI public sale adopts a unified price method, which not only completes price discovery, but also allows all buyers to purchase seedTABI at the same market fair price. Under this rule, early entry to lock the quota may be the best option. As the price falls, it can not only ensure that the quota does not shrink, but also obtain higher-than-expected token distribution.
Flexible conversion strategy to capture continuous benefits
According to the economic model of Tabi Chain, holders of seedTABI will receive the handling fee dividends and voting rights of the protocol within the Tabi Chain ecosystem, and enjoy continuous ecological benefits and potential bribery benefits. After obtaining seedTABI during TGE, public sale buyers can choose to hold it for a long time to capture ecological benefits, or they can flexibly choose the conversion period to convert seedTABI into TABI:
0-89 days conversion: converted into 20% TABI, the remaining 80% seedTABI will be destroyed;
90-179 days conversion: 30% of TABI will be converted, and the remaining 70% of seedTABI will be destroyed;
180-269 days conversion: converted into 50% TABI, the remaining 50% seedTABI will be destroyed;
270-330 days conversion: 70% of TABI will be converted, and the remaining 30% of seedTABI will be destroyed;
Over 330 days conversion: converted to 100% TABI.
The conversion mechanism of seedTABI is more flexible than the conventional public sale lock-up. Holders can set different conversion strategies according to their investment habits. The profitability of seedTABI itself can maximize the returns of long-term value investors, and the tokens consumed by early conversion will also be destroyed, further increasing the scarcity of TABI.
Broken issue refund mechanism, derived multiple profit strategies
The biggest feature of the seedTABI public sale is the refund mechanism, which will be triggered when the price of TABI tokens is lower than the average price of three public sales on the 330th day after TGE. Public sale participants can apply for a refund (refunds are issued in the form of stablecoins) using the wallet where they received seedTABI within one week, with the maximum refundable amount being 90% of the auction investment.
It is worth noting that even if there is conversion or selling within 330 days after TGE, you are still eligible for a refund and can buy TABI in the secondary market and put it into your wallet for a refund.
Based on TABI's refund mechanism, investors can adopt different income strategies according to their investment habits and TABI's secondary price performance.
For long-term investors, if they hold until 330 days after TGE, seedTABI can be 100% converted into TABI, which can be divided into two situations according to the secondary market price:
When the market price is higher than the auction price, you can choose to continue holding or sell to make a profit.
When the market price is lower than the auction price, you can apply for a refund with a 10% loss, but the income from holding seedTABI may have covered the loss or even made a profit.
For short-term investors, if the price of TABI rises to cover the loss of early conversion within 330 days of TGE, they can choose to convert in advance. For example: assuming the public auction price is $0.4, and the price of TABI rises to $1 180 days after TGE, the user can choose to convert and sell at a rate of 50% to make a profit. After early conversion, users still have a second chance to make a profit:
If the TABI price is lower than the auction average price 330 days after TGE, you can buy TABI in the secondary market to get a refund and make a profit again.
If you want to make a quick profit, you can sell the wallet to a third party after the conversion, which is equivalent to selling the final gaming opportunity.
The public sale of Tabi Chain weakens the price game in the auction stage. For buyers who are unable to determine the psychological price and are afraid of missing out, they can rush in without thinking in the early stage and wait for the market to give the most reasonable price. At the same time, in the nearly one year after TGE, a variety of income strategies are provided. You can hold seedTABI for a long time to obtain stable income, or you can find more opportunities in price fluctuations.
