Token Sale

Overview

A token sale is where a store's token is first sold on Starzip, before it is listed on the Market. Each store sells 10% of its token supply. You buy and sell back at the price shown on the store's Token sale page. Each store has its own sale page, and the Token sale list on the DEX shows every store that is on sale or about to be.

Stages of a Sale

A sale page shows one of four stages. The list has a tab for each.

How to Buy

1. Open Token sale from the DEX menu and pick a store that is on sale, or open the Token sale tab on a store's page.
2. On the sale page, check the current price, how much of the sale is sold, and the notes under Before you buy.
3. In the order card, choose Buy and enter an amount or a quantity. The quote shows the average price, the fee, and the total.
4. Confirm the order and sign it in your wallet. The tokens arrive in your wallet as soon as the order is filled.

Price and Orders

• The price is set by how much of the sale supply is sold: it is higher the more is sold, and lower as tokens are sold back. The price on the sale page is the current price.
• A large order is filled across several price points. The quote shows the average price, so check it before you confirm.
• The amount you receive is an estimate. The final amount follows the price at the moment your order is confirmed.
• Slippage is 3% by default and you can enter your own value. If the price moves beyond your slippage, the order fails and you are not charged.
• There is no limit on how many tokens one wallet can buy.

Selling Back

The sale contract buys your tokens back at the current price. Choose Sell on the sale page, or Sell back on the token's row in your Portfolio. A large sell-back fills at lower and lower prices, and the quote shows the average.

Wallet Approvals

The first time you pay with a token, your wallet asks for one extra approval before the order. The approval and the order go through as a single transaction.

Fees

Buying and selling back in the sale each carry a 0.15% fee. The fee is already reflected in your quote. After listing, regular trading fees apply on the Market - see the Fees page.

Before You Buy

After Listing

When the whole sale supply is sold, the store decides whether to confirm the listing, and signs the confirmation itself. A short while after it confirms, the token opens for trading on the Market, where regular trading fees apply. Your tokens are already in your wallet and need no unlocking.

Your Holdings

In your Portfolio, tokens bought in a sale and not yet listed are labelled Pre-listing. Their value is what you would receive if you sold all of them back now, not the price you paid. Token sale purchases and sell-backs appear in Activity with the source Token sale.

Frequently Asked Questions

What does Upcoming mean?

The store has scheduled its sale, but it has not opened. You can read the store's information, but you cannot buy or sell yet. There is no pre-registration - the page starts taking orders when the sale opens.

Is there a deadline or a sale goal?

No. A sale has no end date and no goal amount. It stays open until the sale supply is sold out.

What if the sale does not sell out?

The token is not listed and the sale stays open. While it is open you can sell back at the current price at any time.

What happens when the sale sells out?

Buying closes and the page shows that it is waiting for the store to confirm the listing. Once the store confirms, the token is listed and opens for trading on the Market shortly afterwards.

When do I receive the tokens?

Right away. The tokens are in your wallet as soon as your order is filled. There is no vesting for buyers.

Why does my wallet ask me to confirm more than once?

Paying with a token for the first time needs one more approval in your wallet. The approval and the order still go through as one transaction.