Aardbanq

Token ICO

Welcome to the ICO for the ABQ token used in the Aardbanq DAO (Distributed Autonomous Organization).

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What is ABQ Token?

ABQ is the token used in the governance of the Aardbanq DAO. That's just a fancy way to say that if you stake your ABQ tokens you get to vote on the decisions about what happens in Aardbanq. This gives you the ability to be involved in shaping the future of the company and its products.

The Aardbanq DAO

DAO - Distributed Autonomous Organisation. It's a smart contract used to manage the votes on, and the execution of decisions about what needs to happen in the company. For example, the management committee of Aardbanq might decide that it's time to upgrade its website. They will submit a request to the Aardbanq DAO. Everyone who has staked their ABQ token(s) will get a vote on whether or not the request is approved according to their respective share of the total token pool.

In addition, any profits from the Aardbanq products are directed to an account under the control of the Aardbanq DAO. Based on a vote performed on the Aardbanq DAO, profits can then be distributed to holders of staked ABQ tokens based on terms agreed to in the vote.

How the ICO Works

The ICO is very similar to other ICOs. You use the interface provided to purchase tokens at the specified price. The price per ABQ token increases with every 50 000 tokens that are sold, so make sure to make your purchase as soon as possible. Tokens purchased will only be available to claim after the Initial Liquidity Offering has closed on 25 April 2021, 0:01 UTC.

1. Approve Your Funds

Use the ICO interface to approve the amount of DAI that you want to use to take part. If you will be using ETH you don't have to do this.

2. Make Your Purchase

Specify the amount of DAI or ETH you want to use to make your purchase. Remember to take into account the current price per token.

3. Claim Your Tokens

Once the ILO has closed, you will be able to claim your tokens.

Some things that might not be as common as in other ICOs:

  • You need to approve an amount of DAI that you want to use to participate in the ICO upfront. This is so that the ICO contract has the authority to withdraw the specified amount of DAI from your account to process your token purchase transaction.
  • The price per token increases with every 50 000 tokens that are sold.
  • After the ILO has concluded you'll be able to claim your tokens. Click here for more information about the ILO.