FTX Announced IndiGG IEO – How to Participate?

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About IndiGG

IndiGG is the India Sub-DAO of YGG (Yield Guild Games), and it is being created in partnership with Polygon Studios, the gaming branch of the popular news website Polygon. Indigg will serve as India’s gaming guild, with the purpose of empowering players with web3 mechanics such as Play-to-Earn and other innovative features.

FTX announced the New IEO IndiGG Details :

If you plan to bid during the Sale, make sure you understand the rules and regulations and that you have the following items ready: To complete step 2 of the KYC procedure, you must first open an FTX account.

A significant amount of new sign-ups has resulted in any account registered after 13:00 UTC on March 1st 2022 not being guaranteed entry into the Sales. It is not guaranteed that you will be able to participate in the Sale or that you will receive any allocation.

Set an alarm for 13:00 UTC on March 8th to ensure you don’t miss out on the bargain.

Prepare funds for bidding: at least 350 USD(T) and a maximum of 400 USD(T) each ticket, plus 5 FTT (for each additional ticket). You will have one hour to place your bids on March 8th between 13:00 UTC and 14:00 UTC (UTC).

Purchase/stake FTT 24 hours before the Sale to ensure that your additional ticket allotment is guaranteed. This suggests that it must be done by March 7th at 13:00 UTC. We’re waiting to see what happens.

There are a total of 3,000 tickets available, with each ticket costing 4,000 Indian rupees. The allotment will be drawn at 14:00 UTC on the day of the drawing. There is a minimum and maximum bid of $350 and $400 plus 5 FTT ($0.1 per INDI plus 5 FTT), respectively. These tickets will be awarded to the highest bidders; however, if there are more than 3,000 tickets sold at a price of US $400 per ticket plus five FTT, we will distribute them at random.

Within a few hours of the allocations being set, the transactions will print to the winning purchasers’ subaccounts, and they will be able to transfer (non-INDI) funds out of the INDI-IEO subaccount.

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.

Procedure for Competitive Bidding

If all of the bid tickets are filled, you will receive 4,000 INDI tokens in exchange for the amount of INDI tokens you paid for your bid. You have the option of specifying the number of tickets you wish to submit. Each ticket provides an additional admission for 4,000 INDI tokens, and it is possible that a large number of tickets will be purchased.

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). Additionally available tickets may be made accessible based on the amount of additional FTT staked over the required minimum staking threshold.

FTT will be staked by 13:00 UTC on March 7th, 2022, according to the time zone.

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 INDIGG SALE and $INDI TOKENS are not, and will not be, available in the United States or to any individuals residing in the United States or who have a legal right to do business in the United States (AS DEFINED IN REGULATION S PROMULGATED UNDER THE U.S. SECURITIES ACT OF 1993, AS AMENDED).

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