CAKE holders, we are proud to announce Ditto Money (DITTO) as the next Initial Farm Offering to be hosted on the PancakeSwap IFO platform.
What is Ditto Money (DITTO)?
Ditto.money is the first elastic supply project on Binance Smart Chain. The mission of Ditto.money is to provide the BSC community (and everyone else) with a store of value and payment token based on the latest rebase tech and with low transaction fees. Ditto.money is not just a token — it’s also an ecosystem with dapps for staking, governance and NFT-based gamification. And last but not least, it has an awesome community.
IFO Sale Details
Sale date/time: Wednesday 23rd December at 3pm -4pm SGT
Amount to be raised: $630,000 USD in CAKE-BNB LP tokens
Tokens to be sold: 700,000 DITTO (35% of total DITTO supply)
Price per token: 1 DITTO = $0.9 USD
Method: Overflow (see below)
To participate in the IFO:
- While the sale is live at Wednesday 23rd December at 3pm -4pm SGT, commit your CAKE-LP tokens to buy DITTO tokens at pancakeswap.finance/ifo
- When the sale is complete, claim your DITTO tokens and your unspent funds will also be sent back to you.
- Done! In the case of an overflow you can unstake your remaining CAKE-BNB LP tokens.
If you decide to acquire CAKE-BNB LP tokens before the IFO starts, you can stake them here to earn CAKE token rewards while waiting for the sale.
Please note — while you are holding CAKE-BNB LP tokens you will be at risk of Impermanent Loss.
What is the “Overflow” sale method?
TLDR: Basically, the more you put in, the more you will get, and you’ll get back anything that doesn’t get spent.
In the “Overflow” method, users can subscribe as much or as little as they want to the IFO, and their final allocation will be based on the amount of funds they put in as a percentage of all funds put in by other users at the time the sale ends. Users will receive back any leftover funds when they claim their tokens after the sale.
Here are three basic examples to show you what we mean:
Please note — The final USD price per CAKE-BNB LP token will be set a few minutes before the sale starting at 3pm SGT on Wednesday 23rd December and will be broadcasted on all channels.
While a few things may be subject to initial change, two things are sure:
- You will need CAKE-BNB LP tokens to participate.
- If the full $630,000 USD allocation is raised, then $315,000 USD of CAKE tokens will be burned forever.
Project: Ditto Money (DITTO)
Max Supply: No max due to elastic supply
Initial Circulating Supply (Day of sale): 1,400,000 DITTO
Contract Address: https://bscscan.com/address/0x233d91A0713155003fc4DcE0AFa871b508B3B715
Telegram (EN): https://t.me/dittomoney
Ditto Token (DITTO):
DITTO is the elastic supply token of the Ditto.money project. Its primary role is that of a store of value and stablecoin. DITTO is also used to vote on governance decisions and will enable users to participate in bonus programs and games in the Ditto.money world.
What is elastic supply?
Elastic means that Ditto’s supply adjusts on a regular basis. These supply adjustments increase or decrease the supply in response to changes in demand. The idea is to steadily move the token’s nominal price towards its target price. In the case of Ditto the target is 1 US Dollar.
DITTO Token Distribution
- 70% public sale
- 15% LP staking rewards
- 10% ecosystem fund
- 5% initial liquidity
What does “Rebase” mean?
The goal of Ditto is to maintain a stable price at around $1. To achieve this there are daily supply adjustments called “rebases”. Rebases are done in such a way that users’ proportional holdings aren’t diluted: A rebase changes every wallet balance by the same amount while also instantly increasing or decreasing the token price on decentralized exchanges. They can be triggered up to 6 times per day.
A Rebase will result in an increase (positive rebase) or decrease (negative rebase) of the current supply.
- A positive rebase occurs when the current price is above the target price target → e.g. $1,10.
- A negative rebase occurs when the current price is below the target price target → e.g. $0,90.
Note — To be very clear, if you wish to participate in the Ditto Money IFO, please do your own due diligence and make sure you understand the mechanisms of an elastic supply token, including terms like “rebase” etc. If you are unwilling to or not able to fully grasp the concept, please do not participate in the IFO.
Disclaimer — All projects are subject to both high market risk and volatility. Please, do your own research and full due diligence before even considering to invest your funds in any project and please, make your investments very cautiously. PancakeSwap will not be held responsible for any investment losses.