Fair-launch FAQ

Q: Why it is called IFO?

A: F is for Fair Launch.
  • NO VC;
  • NO presale;
  • NO whitelist;
  • 100% income goes to token holders.

Q: What is BEND IFO?

A: Initial Fair-launch Offering (IFO) is a part of the BEND Token Fair Launch. BEND IFO is a fundraising approach that pools ETH from the public.
66% of the raised ETH will be used for the ETH lending pool on Bend, and 34% of the ETH will be used for the Bend dev operation.
The rules are as follows:
  • 1,000,000,000 (10%) BEND tokens will be allocated to the Initial Fair-Launch Offering;
  • Open to the public;
  • No ETH allocation limit for each participant;
  • 1 ETH = 333,333 BEND;
  • After the IFO, all unsold BEND will go towards the DAO Treasury;
  • Each participant can choose the lockup period during IFO, from 0 weeks to 4 years.
  • From the moment of lock-up, holders will share the protocol income.

Q: What can I do with the BEND token?

A: BEND holders can stake BEND to get vote-escrowed BEND (veBEND).
Your BEND will automatically be staked if you join the IFO. You will receive veBEND Token. And the longer you lock BEND, the more veBEND you will receive.
veBEND has two main uses: Voting and Earning.
Voting
Holders of veBEND can participate in voting on which NFT as collateral that Bend protocol can support for borrowing ETH and providing liquidity. It will benefit all the NFT holders as long as the supported NFT liquidity improved.
Earning
100% of the protocol income will be distributed to veBEND holders who stake BEND.

Q: Who can participate in IFO?

A: Everyone who has a decentralized wallet on Ether mainnet. No whitelist and no KYC.

Q: How many BEND can I purchase?

A: No ETH allocation limit for each participant. And the ratio is 1 ETH = 333,333 BEND.

Q: Any lockup?

A: NO

Q: What will I get if I participate in the IFO then?

Vote-escrowed BEND. veBEND is the staked BEND. You can check your veBEND balance once you add the veBEND token address to your wallet.
veBEND is short for vote-escrowed BEND Token which is the token you receive when staking BEND. And the longer you stake BEND, the more veBEND you get.

Q: How many veBEND tokens will I receive then?

A: The max. lockup period is 4 years. The formula is outlined below.
MAXTIME = 4 * 365 * 86400 unlock_time < (block_time + MAXTIME) veBEND_amount = BEND_locked_amount / MAXTIME * (unlock_time - block_time)