Where we are, only two official batches of our IDO left, let’s dive into what is the next phase of our launch; the Strong Holder Offering (SHO)! The purpose of this article is to define clearly what our SHO will be offering.
Firstly, what is a SHO?
A strong holder offering (SHO) is a fundraising mechanism, similar to a private sale, where individuals are chosen based on how many tokens they would like to buy. SHO enables xSPECTAR to attract big agents and participants who align with the long-term success of the project and mission. Individuals who choose to participate in the SHO are able to acquire an amount of XSPECTAR tokens for a discounted price with a vested/locked period of time.
OUR SHO IS NOW LIVE!
If you’re reading this, it means our SHO is now live! Only 300 individual agents will be selected to take part in the SHO. We have 2 phases; the first phase is from the 14th May till the 21st May and is only available to 150 participants who are holding at least 8,888 XSPECTAR tokens. The second phase is from the 22nd till the 29th and is open to everyone.
Phase One: 150 agents are required to hold at least 8,888 XSPECTAR tokens in order to be selected. In addition, the first 100 agents that close a deal will receive an xSPECTAR branded Ledger Nano S Plus as a gift!
Phase Two: 150 agents will have the last opportunity to participate in the SHO and this group does not have to meet any requirements. Hence, the last 150 spots of the SHO will be open to anyone. We have chosen this approach to give our loyal community members priority and equal opportunity, while still being welcoming to new entrants.
A vesting period requires tokens to remain locked for a period of time. Unlike the IDO, tokens acquired during SHO rounds are unavailable to convert/sell until the agreed vesting period is over.
There are 3 options to choose from regarding the period:
- The period will be set until the launch of the XLS-20 standard, directly after the launch SHO participants will receive their tokens.
- The period will be set for exactly 12 months, after these 12 months the SHO participants will receive their tokens.
- The period will be set for exactly 24 months after acquiring the tokens and the tokens will be lineair released. This means the SHO participants will receive 1/24 of the total amount of tokens every month. In other words, the participant will receive their total amount of tokens in a total 2 year period.
DISCOUNTED PRICE & MIN./MAX. AMOUNT OF TOKENS
The discounted price will be determined according to the vesting period, the phase and the amount of tokens invested. Note that the minimum amount of tokens that should be bought needs to be worth at least 5000XRP. The discounted prices that can be checked are as follows:
For phase 2: discounted prices will be announced later, the amounts will remain the same for phase 2 as is in phase 1.
HOW TO APPLY?
Participants can apply by filling out this google form with their details. Participants will be contacted shortly after they have filled out the form with details on how to proceed to the next stage. Applications for the first phase should be done before the 21st of May with payments collected between the 14th and 21st of May.
Remember, XSPECTAR will have many lines of utilities and we are determined to give our participants an opportunity like no other. Do not miss out! It’s SHO time!