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CLAY TGE Update — Public Sale Sold Out & Intro to Lockdrop

TTC | 08.14| 287

CLAY TGE Update — Public Sale Sold Out & Intro to Lockdrop

Brief summary on the CLAY token Public Sale and detailed introduction on Lockdrop

The CLAY token Public Sale concluded with great success, its hard cap sold out in less than 3 hours.

Summary — Public Token Sale

  • CLAY Tokens Sold: 200,000,000 CLAY
  • TTC Coins Received via Smart Contract: 10,000,000 TTC
  • Public Sale Initiated: 2019/08/13 20:00 (UTC+8)
  • Public Sale Concluded: 2019/08/13 22:57 (UTC+8)

If you want to learn more about the allocation of CLAY tokens, read this.

Next stop: Lockdrop

On August 20th, TTC Foundation will launch the lockdrop, as a part of CLAY token TGE. The lockdrop is a fairly new concept of token distribution: participants receive CLAY tokens simply by locking up TTC Coins via smart contract for a certain period of time.

In a nutshell, this is a great way to obtain the CLAY tokens without spending any TTC Coins.

Lockdrop Period

TTC holders can choose to lock their TTC Coins for either 6 months, 12 months, or both:

6 Months Lock-up
- Participation Period: 2019. 8. 20–2019. 9. 19 (UTC+8)
- Hardcap: 200,000,000 CLAY or 50,000,000 TTC
- Rate: 1 TTC = 4 CLAY
- Min Lockup Amount: 1,000 TTC
- Max Lockup Amount: 300,000 TTC

12 Months Lock-up
- Participation Period: 2019. 8. 20–2019. 9. 19 (UTC+8)
- Hardcap: 200,000,000 CLAY or 20,000,000 TTC
- Rate: 1 TTC = 10 CLAY
- Min Lockup Amount: 1,000 TTC
- Max Lockup Amount: 300,000 TTC

Here are quick facts about the CLAY token lockdrop.

  • The lockdrop period begins to count down the moment a participant locks up TTC Coins.
  • The CLAY tokens will be distributed to participants instantly the moment they lockup their TTC Coins. (Note: Anyone who locks up TTC Coins before the CLAY TGE will receive CLAY tokens on the day of TGE.)
  • The entire amount of locked TTC Coins will be returned to participants at the end of the lockdrop period.

How to participate in Lockdrop

Follow the below steps to participate in the CLAY lockdrop via TTC Connect, starting August 20th.

  1. In TTC Connect, touch “DAPPs” (3rd tab in the bottom)
  2. Touch “JOIN CLAY TOKEN GENERATION EVENT” to join the CLAY lockdrop (Not completed your KYC verification yet? Read this guide.)
  3. Touch “Lockdrop” (will be activated on August 20th)
  4. Input the amount of TTC Coins to lock up
  5. Choose the lockup period (6 months or 12 months)
  6. Touch “Get CLAY token” to lock up your TTC Coins (and receive the CLAY tokens)

Users can repeat this process to lockup more TTC Coins to receive more CLAY tokens.

So…Why Lockdrop?

Lockdrop has a low opportunity cost for long term TTC holders and downside protection as users will not be spending TTC Coins. No locked TTC Coins in the smart contract will be directly used for the development of the Tigris protocol and the full amount will be returned to the original owners.

The locked TTC Coins will be applied to the Self-learning Automated Voting Engine (SAVE) and the recurring voting rewards will be allocated to the Tigris Reserve. By growing the Tigris Reserve in its early phase, Tigris Protocol will have improved stability and sustainability.

After the CLAY TGE, Tigris Protocol will soon launch the open beta test for users to utilize their CLAY tokens and TTC Coins for daily rewards and stable coin loans. Stay tuned.

If you have any further questions, please contact us through our Telegram group or email.

Thank you,

TTC Foundation

About Tigris Protocol
Tigris Protocol is an open, trusted and interoperable Decentralized Financial (DeFi) service built on the TTC Blockchain Platform. It provides effortless crypto loans, stable daily rewards, and paramount security. For details, visit our website.To receive the latest news on TTC, join our Telegram and follow us on twitter.
About TTC
TTC is a blockchain fit for mass adoption and a sustainable token economy model. For details, visit our website.To receive the latest news on TTC, join our Telegram and follow us on twitter.

CLAY TGE Update — Public Sale Sold Out & Intro to Lockdrop was originally published in TTC — Official Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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