I wanted to organize everything that I know so far for the community here as well as confirm with others the process for the TGT Launch.
You can find TGT IDO details and guide here:
THORWallet IDO Details And Guide, November 15th — 15:00 UTC | by Thorstarter | Nov, 2021 | Medium
You can find information about Thorstarter tiers here:
Introducing: Thorstarter Tiers. Thorstarter is excited to announce the… | by Thorstarter | Nov, 2021 | Thorstarter
Now for the gas fees:
With the new Tier contracts we are all going to have to buy and lock more xrune! (Yaaay -.-)
So here is the breakdown:
- With gate.io now selling Thorstarter we can skip the gas fees for buying XRUNE and buy off gate io (did somebody say price pump??)
- It will cost 1 gate.io transaction fee to send the xrune to your wallet (lets assume $100 USD like finance)
- It will cost 1 ETH gas fee for staking your XRUNE towards a tier.
- It will cost 1 ETH gas fee for the IDO Sale on Monday
so it’s not as bad as the THOR launch but we are still paying 2 eth gas fees (around $600) plus 2500 XRUNE for staking since our pools or other staked xrune don’t count and then more xrune for the allocation.
Admins have recommended 750 XRUNE to be safe.
In total the cost is:
- 2500 XRUNE for Tier 1 + 750 XRUNE for the allocation = 3250 XRUNE total (roughly $1700 USD)
- 1 Gate.io transaction fee (between $100-$200)
- 2 ETH Gas fees (1 for staking, for transacting for allocation) = ~$600
Total cost is roughly $2500 USD ($1700 Value + $800 Fees)
So with that out of the way lets break down the IDO tokenomics.
At this point I would say with XRUNE going from 0.01-0.5 and THOR going from 0.075 to $2.50 and with the treasury announcement for backstopping all THORFI projects we can safely assume an increase like THOR had, probably much more given that this launch will go much smoother without a Treasury fiasco.
THOR had 1/2 the tokens of TGT and started at 0.075, its current price is $2+ so 26.6x multiplier.
TGT has double the tokens and starts at 1/3rd the price 0.025 so if we assume half of the multiplier because of double the supply we would end up with 0.3325 per TGT.
I believe the low end of 10x is just about guaranteed with a treasury backstop, coupled with 6000% APY on launch for TGT tokens.
High end who knows, THOR hit $6 at one point so probably around 20x-100x.
Thanks to the treasury backstop this launch is guaranteed to produce a profit.
Below are the pictures for the treasury backstop evidence and the 6000% APY claim:
Note that that is the UI for the iOS beta test. the application looks incredibly clean and is easy to use. Many functions working already and once we got Brokkr lending there is your moon potential.
Given that TGT competitors are Binance, Gate.io, Coinbase, Shakepay, etc. multi-billion dollar valuations are very real. This can drive the price easily to $1+ per token, implying a 50x-100x as the top side for the value.
To claim your TGT will cost an additional ETH transaction (~$300)
If you are staking your NFT instead of paying for additional xrune it will cost 1 eth trans to mint the nft and 1 more trans for staking it instead of 1 gate.io transaction for sending to your wallet. Effectively the same cost.
Note that you may not get a 750 xrune allocation on IDO day. DYOR and figure out if the amount of xrune you can allocate is worth it for you.
Total cost + withdrawals will end up being $2800 USD, more than likely. if you minted the soldier maybe $500 less (so $2300). If you take the low-end valuation of 33 cents per TGT if you are not getting more than 8500 TGT it may not be worth it for you to participate.
I think one person mentioned on Tele that current estimates are we can vest about 75-150 XRUNE which would end up being (for 150) roughly 3000 TGT (1500 for a 75 max allocation). This would mean if you planning to dump on launch you would need roughly Tier 3 (7500 TGT for 75 allo or 15000 TGT for 150 allo) to turn a profit assuming the low end for price.
Here is evidence for TGT allocation:
edit: should probably add in here this is not financial advice and DYOR
Update: Looks like they may be raising allocations, here is some proof: