[PRESS RELEASE – Taipei, Taiwan, 3rd May 2022]
Yield Guild Games Southeast Asia (YGG SEA), a sub-decentralized autonomous organization (SubDAO) of Philippines-based blockchain gaming startup Yield Guild Games (YGG), today announced the upcoming Initial DEX offering (IDO) of its SEA token. Copper Launchpad.
The SEA Token Launch Auction will begin on May 9 at 15:00 UTC on the Copper platform and will continue till May 14. A total of 75 million SEA tokens have been allocated for the IDO public sale, representing 7.5% of the total supply of one billion tokens. The starting price is set at $0.50.
“IDO is a once in a lifetime opportunity to appreciate the unconditional support of our community,” said YGG SEA co-founder Irene Umar. “We are where we are because of the community and we want the community to own a piece of YGG SEA through IDO. Dyer, all I can say is this: what you see today is what you see in the coming months.” This is just the beginning of the events that are taking place in the city.”
SEA YGG is the governance token of SEA. It empowers community members to vote on governance proposals, ecosystem reward allocation, most wanted features/reward models reflecting local needs, and whitelist opportunities for GameFi as well as non-GameFi NFTs.
Since the community is at the core of YGG SEA, the Guild is committed to giving everyone the opportunity and time to participate in the IDO in a fair and transparent manner. Copper is the most decentralized and user-friendly way to participate in Balancer’s specific configuration of Liquidity Bootstrapping Pools (LBPs), allowing for a more equitable distribution of tokens to all participants.
Token launch auctions on Copper allow for real-time price discovery, open and permissionless participation, and fair distribution of tokens. This discourages front-running bots and whales to get SEA tokens into the hands of as many participants as possible.
YGG SEA is the leading guild for Southeast Asia, investing in 76 projects since November 2021. Ten games have become accessible to members of the YGG SEA Guild, and many more are to be launched within this year. It currently has offices in Indonesia, Thailand, Malaysia and Vietnam. Following the IDO, YGG SEA plans to expand to three additional countries within six months, with full SEA coverage planned by 2024.
YGG SEA previously raised $15 million in two rounds from notable investors including Crypto.com Capital, Animoca Brands, Solana Ventures, Polygon and others.
About YGG Sagar
YGG SEA, the first subDAO of Yield Guild Games, is a decentralized autonomous organization for receiving and managing NFTs used in the metaverse. Its mission is to create the largest and most sustainable play-to-earn virtual economy in Southeast Asia. YGG is a founding member of the SEA Asia Blockchain Gaming Alliance.
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