FTX Announced PSY IEO – How to Participate in IEO | Guide

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FTX, Announced today the New IEO on their platform. Details to Participate and eligibility in the Sale are as follows:

Participation Details In IEO

If you plan to bid during the PsyOptions Sale, make sure you understand the rules and regulations and that you have the following items ready:

Users who have not staked 150 FTT by the 13:00 UTC deadline on January 17th will be unable to participate in the auction. Users who have not been accepted for KYC level 2 will also be unable to participate in this Sale.

To complete step 2 of the KYC process, you must first open an FTX account. A significant amount of new sign-ups has resulted in any account created after 13:00 UTC on January 11th, 2022 not being guaranteed participation in the Sale.

Ftx psy ieo

It is not guaranteed that you will be able to participate in the Sale or that you will receive any allocation.
January 18th at 13:00 UTC, the sale will begin.

bidding process: 500 USD(T) is the least, 600 USD(T) is the maximum, and 5 FTT is charged every ticket.

You will have one hour to place your bids, which will begin at 13:00 UTC on January 18th and expire at 14:00 UTC on the same day.

Purchase/stake FTT 24 hours before the Sale to ensure that your additional ticket allotment is guaranteed. This means that it must be completed on or before January 17th at 13:00 UTC.

There are a total of 2000 tickets available, each costing 5,000 PSY each. The allotment will be drawn at 14:00 UTC on the day of the drawing. Prices for the lowest and highest bids are $500 and $600 + 5 FTT, respectively ($0.12 per PSY + 5 FTT). These tickets will be awarded to the highest bidders; however, if there are more than 2,000 tickets sold at a price of US $600 per ticket plus 5 FTT, we will distribute them at random.

The transactions will be printed to the winning purchasers’ subaccounts within a few hours of the allocations being determined, and they will be able to transfer (non-PSY) funds out of the PSY-IEO subaccount as soon as the allocations are determined.

If you do not win, your funds will be refunded to you.
If you bid FTT but would have won the auction even without it, the FTT will be returned to you.
All FTT payments will be cancelled outright.

Read More Here : https://ftx.com/psyoptions-ieo/ for additional information.

Procedure for Competitive Bidding

5,000 PSY tokens will be awarded to you in exchange for the amount you bid if all bid tickets are filled in their whole. You have the option of specifying the number of tickets you wish to submit. Each ticket is a separate entry for an additional 5,000 PSY tokens; it is possible that a large number of tickets will be filled.

One ticket will be awarded to any user who meets the requirements for the Sale (at least KYC level 2 permission and 150 FTT staked). Additional tickets may become available if more FTT is staked over and above the minimum staking requirement of FTT by 13:00 UTC on January 17th, 2022.

One hundred and ninety-two tickets; 420: three tickets; 540: four tickets; 650: five tickets; seven hundred and seventy-six tickets; 150: one hundred and ninety-two tickets; two hundred and ninety-six tickets; one hundred and ninety-six tickets
The following points should be kept in mind:

FTT will be put together across all of your ftx.com subaccounts if you have more than one.
The maximum number of tickets you can purchase is determined by the amount of money you wager 24 hours before the sale. We’ll post the final figures on this page a few hours after they’ve been finalized.

It is important that you thoroughly read our Terms of Service, especially the sections on trading and KYC submission.


The FTX Terms of Service apply to all participants and are legally binding.
Participants who are found to be in violation of the FTX Terms of Service will be disqualified from participating in the contest.
FTX has the right to modify the Terms and Conditions of this Sale at any time and without prior notice to you.
Multiple entries from the same merchant are prohibited, and doing so will result in exclusion from the competition.

US Citizens Eligibility

There will be no availability of the PSYOPTIONS SALE or $PSY TOKENS in the United States or to anybody residing in the United States, and there will be no availability of either (AS DEFINED IN REGULATION S PROMULGATED UNDER THE U.S. SECURITIES ACT OF 1993, AS AMENDED).

People who are citizens of the United States, as well as those who are inhabitants of any FTX restricted jurisdiction, are expressly barred from participating.

It is prohibited to resell PSY to anybody who is a resident of the United States or any other prohibited jurisdiction.

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