How to participate in the
$SNAFU token auction

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SECURITY NOTICE:

Here is the direct link to the auction: https://gnosis-auction.eth.link/#/auction?auctionId=19&chainId=100#topAnchor
 

No admin will ever contact you on Telegram or any other platform to request information or funds from you.

 

Summary

  • 100k $SNAFU tokens are being made available to purchase on Sunday 2nd May 2021

  • The starting price for the sale is 0.03 USD per token

  • The only valid currency for the sale is WXDAI (1 XDAI = 1 USD)
    To convert XDAI to WXDAI go to Honeyswap

  • Our token sale is planned to start at 4 pm UTC on Sunday 2nd May and will run for 72 hours until 4 pm UTC on  Wednesday 5th May

  • Bidders can offer to buy $SNAFU tokens at any time in the 72 hour period

  • The Token unlock will happen before 8 pm UTC on 5th May 

  • There is no whitelist to participate, everyone is able to bid

How to participate in the auction

Security considerations

Bear in mind that Gnosis Auction is a decentralized platform and you must be careful to participate in the correct auction.


There are ALWAYS scammers surrounding token sales, and you may be being targeted.


Always ensure you are interacting with the correct $SNAFU token at: 0x27B9C2Bd4BaEa18ABdF49169054c1C1c12af9862


If in doubt check the pinned message in the Telegram chat.

Why an auction, and rational bidding strategies

The $SNAFU token distribution is enabling fair price discovery for the $SNAFU token. The aim is to make it easy to discover a fair price for their token through the format of a batch auction, where everyone can determine what they believe the appropriate price to be, and either receive their tokens at or below that price, or their original funds back.

In this form of token offering, we are asking the community to set the price of the $SNAFU token, based on the collected desire to own the asset, and be part of the ecosystem as it grows.

Our aim is to avoid an exclusionary process, where only a limited number of people can participate, either by a lottery, or by first-come-first-served mechanics.

Instead, we are creating a set time period, where anyone can bid to acquire $SNAFU tokens, at a price that is acceptable to them.

Our recommendation is to choose a price you believe to be acceptable, make a bid at that level, and wait until the end of the auction to receive your tokens.


Please note bids can be canceled for the first 48 hours, but during the final 24 hours, all bids are final.

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