According to TechFlow, the cryptocurrency auction platform CoinList announced the restart of the token auction mechanism, with the first project being the intent engine Enso. The auction will start at 1:00 am on August 1, Beijing time, and end at 1:00 am on August 8, Beijing time.
The auction details are as follows: the supply is 5 million ENSO tokens (5% of the total supply), the reserve price is $1.50, and the starting price is $8.00.
The token lock-up period is 15% unlocked at TGE, and then linearly released over 6 months. TGE is expected to be around September 15, 2024. The minimum investment amount for investors is US$100 and the maximum is US$2.5 million. Only USDT/USDC is accepted.
CoinList said that the restart of the auction mechanism is aimed at allowing the community to participate in pricing. It has successfully held auctions for projects such as Solana, Flow and Celo in 2020. Participants are required to complete KYC and keep their accounts in good condition. They can bid and update bids multiple times during the auction.
