STIX: Coming to MISO on SushiSwap, September 20
Compliment your $SAK3 with the finest chopsticks… it’s time to eat in style!
$STIX will drop via MISO on SushiSwap, running for a duration of 5 days (from September 20, 2021 at 11am EST / 4pm UTC to September 25, 2021 at 11am EST / 4pm UTC).
With a total supply of 700 STIX tokens, 400 (57%) will be made available for purchase in the public sale. This will be a Dutch Auction.
All sales will be in Ethereum (ETH) so please ensure you have ETH available in your wallet ahead of time as well as a sufficient amount to cover gas fees.
Why Chopsticks?
In their early history, Japanese chopsticks provided a bridge between the human and the divine. Rather than for taking ordinary meals, they were used, at first, for sharing food with the gods. It was believed that when a pair of chopsticks was offered to a deity, the chopsticks became inhabited by that deity. When those chopsticks were used to eat the food that was offered along with them, mortal and immortal dined together.
Not to mention… ‘wen sticks?’, which has been a regular and familiar request from the Sushi community.
The Design
With the highest attention to craftsmanship, STIX were curated by Caliper, a studio specialising in industrial design development, kinetic art fabrication, and homeware manufacturing.
Focusing on the core use of chopsticks and specifically Japanese heritage while considering the singularity of what chopsticks embody. The design considers how Japanese chopsticks are tapered along their length, used daily, and are an object of significance.
Made from bead-blasted anodised aluminium, Caliper present these chopsticks as an artefact of SushiSwap’s history, available in two colour-ways: sushi-sunset blue, and sushi-sunset pink.
Auction Details
- IDO Date: September 20, 2021 to September 25, 2021
- Starting Bid: 0.55 ETH per STIX
- Minimum Bid: 0.15 ETH per STIX
- Auction Supply: 400
- Currency: ETH
- Whitelist Needed: No
- Duration: 5 days
- Website: miso.sushi.com
- Auction Method: Dutch Auction
Tokenomics
- Total Supply: 700 pairs (350 blue, 350 pink)
- Auction Supply: 400
- STIX Founder NFT Holders: 20
- Team/Marketing: 50
- Liquidity Pool: 200
Dutch Auction on MISO by SushiSwap
Dutch Auction represents a fair and transparent method of price discovery as users have the option to hold out until the price of the token decreases, but in doing so, they also increase the risk of the token selling out before they commit to purchasing. This puts the power in the hands of the auction participants to determine what price they are comfortable paying in relation to demand for the token. The eth value of each participant’s commitment is not a determining factor, so this supports participation for all community members with all budgets (not just crypto whales).
The starting price of the auction is 0.55 ETH (reflective of a 220 ETH public sale) with a floor price of 0.15 ETH (reflective of a 60 ETH public sale). The sale ends when all 400 tokens have been allocated, with the final token price being the same price as the 400th token sold. As such, all bidders pay the same token price in the end. Through this mechanism, the final total value of the public sale will not be known until the sale is complete.
For those who act quickly once the sale begins, as soon as their commitment goes through, they will see their share of tokens begin to grow. Thus, buying early ensures the purchaser receives the greatest possible number of tokens for the budget that they are willing and able to commit.
For the participants who choose to wait for the price to drop, they may be able to purchase tokens at a lower price than the starting bid. But they also risk missing out altogether, if the full token supply is allocated before they move to make a purchase commitment.
Redeeming
Each token represents ownership of one pair. You need 1 whole STIX token in order to redeem (e.g. 1.0 STIX can be redeemed for 1 pair; 0.77 STIX cannot).
When you redeem one or more STIX tokens, your chopsticks will be shipped anywhere in the world and will be with you as fast as the post can deliver them.
Details on how to redeem will be announced when the redeem portal is ready.
STIX Founder NFT Holders, this is for you…
If you’re a holder of the STIX Founder NFT we will distribute 1 STIX token per NFT. A snapshot will be taken at the end of the auction (September 25, 2021 at 11am EST/4pm) and you will receive your STIX token soon after.
