# IDO - Presale Information

### What is an Initial DEX Offering on the Sologenic DEX (IDO)?

IDO participants will use $SOLO tokens to purchase the newly issued project tokens. They may contribute to the project's development or acquire tokens for potential investment purposes. 

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**Attention:** learn more about the [XNET ecosystem](https://xnet-1.gitbook.io/xnet-whitepaper/overview/xnet-bring-x-rated-content-to-the-xrpl) and [token](https://xnet-1.gitbook.io/xnet-whitepaper/overview/xnet-tokenomics).
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### XNET IDO:

We have allocated **40,000,000** $XNET tokens to go on presale on the Sologenic DEX. We will be issuing the IDO in **6 rounds** that will begin on the **18th of May 2023 22:00 BST** and will end on the **18th of February 2024.**

The dynamic price appreciation model outlined in this whitepaper introduces an innovative approach to incentivize early investments in the [XNET](https://xnet-1.gitbook.io/xnet-whitepaper/overview/xnet-bring-x-rated-content-to-the-xrpl) ecosystem. By incrementally increasing the token price by **15%** at **each round**, this model motivates investors to act promptly, recognizing the potential benefits of investing before subsequent **price escalations**. 

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**Attention:** USD prices have been calculated based on the XRP/USD conversion rate  on the **17th of May 2023.**
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<table><thead><tr><th width="205">Distribution (XNET)</th><th width="125">Price (USD)</th><th width="126">Price (XRP)</th><th width="136">Amount (XRP)</th><th>Duration</th></tr></thead><tbody><tr><td>2,500,000.00</td><td>0.011</td><td>0.025</td><td>62,500.00</td><td>18/05/23 - 18/06/23</td></tr><tr><td>2,500,000.00</td><td>0.012</td><td>0.029</td><td>71,875.00</td><td>18/06/23 - 18/07/23</td></tr><tr><td>5,000,000.00</td><td>0.014</td><td>0.033</td><td>165,312.50</td><td>18/07/23 - 18/08/23</td></tr><tr><td>5,000,000.00</td><td>0.016</td><td>0.038</td><td>190,109.38</td><td>18/08/23 - 18/09/23</td></tr><tr><td>10,000,000.00</td><td>0.019</td><td>0.044</td><td>655,877.34</td><td>18/09/23 - 18/10/23</td></tr><tr><td>15,000,000.00</td><td>0.022</td><td>0.050</td><td>754,258.95</td><td>18/10/23 - 18/11/24</td></tr></tbody></table>

### **Benefits**

The proposed mechanism offers numerous advantages:

* early investor advantage.
* increased investor participation.
* sustainable ecosystem growth.&#x20;

By implementing this model, the token ecosystem aims to create a thriving investment environment that rewards proactive investors and fuels its long-term success.

### **Why are we doing an IDO?**

We are doing an IDO to raise capital to aid the development of the XNET platform. We also wish to spread more awareness about our platform through marketing and influencer campaigns.&#x20;

### **How do I particpate in the IDO?**

The the 1st round of the IDO will be live on the **18th of May 2023 23:00 BST**.

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