Two weeks ago Tokenomica has launched a sandbox of its Security Tokens Issuance Platform (STIP) — a virtual testing environment where users are able to issue their security tokens and launch the very own security token offering (STO) on the Waves Testnet blockchain and able to invest in test STOs. Today we are bringing you the major update on the future of STIP Sandbox.
STO Contest Update
We have decided to increase the total prize fund of STO Contest to 10 000 Waves! Along with that, we’ve added additional prizes for investors. The prize fund will be divided into three major categories:
1) STO Campaigns — 6 500 Waves;
2) Investors in test STOs — 3 000 Waves;
3) The secret prize for the member of Security Tokens Investors Club — 500 Waves.
Along with that, we’ve extended the duration of STO Contest until August 6th.
STO Contest Prizes for Issuers:
There will be 4 winners
3 will be chosen by users:
3 STO campaigns to raise the biggest amount of Waves Testnet tokens and reach their Softcap will win up to 5000 Waves (1st place - 5000 Waves; 2nd place - 1000 Waves: 3rd place - 500 Waves).
1 will be chosen by Tokenomica’s team:
The winner will get all the legal services required for the STO campaign on the launch of the full version of the STIP covered by Tokenomica.
What Is Needed From You
Your campaign can be just a blank page, it’s up to you. But we think that to increase your chances of winning, you will need:
1) An interesting idea ;
2) Value of your project;
3) Business plan (doesn’t have to be fully prepared);
4) Projected benefits for the investors.
You can create a company that will never exist and just make something for the laughs or our STO contest may be the perfect place to test out your ideas or new projects. If you already have a project that will be launched soon, you can add links to your website, social media, and add whitepaper as well. It’s up to you.
STO Contest for Investors
There are 3 separate categories for investors:
Three users that will invest in the biggest number of STO Campaigns on STIP Sandbox will receive a total prize of 1 000 Waves: 1st — 500 Waves; 2nd — 300; 3rd — 200 Waves.
Three users that will invest in the biggest number of successful STO Campaigns on STIP Sandbox will receive a total prize of 1 000 Waves: 1st — 500 Waves; 2nd — 300; 3rd — 200 Waves.
3) “Fortunate Son”
All users that will make at least 3 investments on STIP Sandbox will take part in the drawing of 1 000 Waves. There will be 10 winners that will receive 100 Waves each.
STO Contest for Members of Security Tokens Investors Club (STIC)
500 Waves — a secret prize available for members of our Security Tokens Investors Club. All details will be shared in the closed community of STIC. Click here to join.
- The contest starts on June 11th and ends on August 6th.
- 3 winners will be chosen by users based on the amount of Waves Testnet tokens raised. Additionally to that, to be considered a winner:
(a) STO campaign must reach its Softcap;
(b) Collected funds must be sent from at least 20 STIP accounts.
- 1 winner is chosen by Tokenomica team.
- The same user can take part in STO Contest as an issuer and an investor;
- One user can’t win in two categories specilized for investors;
Last Friday we’ve experienced technical issues on the STIP. To be exact, Waves Testnet block height was rolled back by 30.000 blocks due to the upcoming release of Smart contracts feature on the Mainnet.
Due to this rollback, all the campaigns initiated on STIP have been permanently deleted, as if they never existed.
We have expected this rollback to happen as it was critical for the Waves team to prepare the full release of RIDE on the Mainnet.
For this scenario, we’ve prepared a backup plan, if you have launched your campaign before the rollback, please make sure to take a closer at the following information:
1. All the information that you’ve provided for your STO campaigns in questionnaires was saved. If you have already started completing our questionnaires, your progress is saved, you will be able to continue from the exact point where you previously stopped;
2. All the campaigns that were already launched on STIP and got listed on our STO Marketplace will have to reissue their tokens and relaunch their STOs. The exact amount of funds that was raised prior to the rollback will be refunded to your campaign from Tokenomica.
We are still working on the further development of STIP and we will be delighted to get feedback from our users. If you have any suggestions on how we can improve the final product or need any help launching your STO, feel free to contact us in our Telegram chat. Best of luck!