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Yield Guild Games Southeast Asia (YGG SEA), a sub-decentralized autonomous organization of Yield Guild Games, confirmed in a Tuesday press release its plans for an initial DEX Offering. The IDO of its native token $SEA on the Copper launchpad is scheduled for May 9 at 15:00 UTC.
75 million tokens
According to the press release, 75 million $SEA tokens will be allocated to the IDO public sale at a starting price of $0.50. This represents 7.5% of the total supply of all tokens.
The $SEA token offers community members the ability to vote on governance proposals, ecosystem reward allocations, features and reward models, and whitelist opportunities for GameFi NFTs and non-GameFi NFTs.
YGG SEA, the first subDAO of Philippines-based Yield Guild Games, is a decentralized autonomous organization for acquiring and managing NFTs used in the metaverse. It is a founding member of the Asia Blockchain Gaming Alliance and is on a mission to create a sustainable play-to-earn virtual economy across Southeast Asia.
Copper was chosen due to its decentralized nature and user-friendly reputation that offers equitable distribution of tokens for all participants. The Token Launch Auction on Copper also offers real-time price discovery, open and permissionless participation and disincenvitzes front-running bots and whales.
Co-founder Umar: ‘just the beginning’
YGG SEA’s listing announcement follows recent encouraging updates, including a $15 million raise across two rounds.
Commenting on the listing announcement, YGG SEA Co-founder Irene Umar stated in the press release:
The IDO is a once-in-a-lifetime opportunity to appreciate our community’s unconditional support. We are where we are because of the community and we would like the community to own a piece of YGG SEA through the IDO. DYOR, all I can say: what you see today is just the beginning of what will unfold in the coming months.
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