IHO #01: Introducing the Pontoon Finance (TOON) Token Sale, Hosted by Hot Cross
Whitelisting has already begun. The sale will take place on October 28th.
Hot Cross is extremely thrilled to unveil our first-ever Initial Hot Cross Offering: Pontoon Finance. Pontoon is a one-click, cross-chain liquidity mirror protocol that aims to solve fragmentation and composability concerns in the blockchain ecosystem in a completely trustless way.
The protocol offers users one-click liquidity mirroring across Ethereum, Binance Smart Chain, Polygon, Avalanche, HECO, xDai, and Optimism with an incentivized relayer network and liquidity mining for cross-chain liquidity providers. In short, Pontoon is a multi-chain liquidity wormhole.
Hot Cross is a cross-chain and multi-chain tool suite, and it only makes sense that we form a strong relationship with another cross-chain team. Pontoon is the perfect fit for IHO #01, which debuts on October 28th, 2021, and we couldn’t be more excited to have them. There is synergy here between the bridging efforts that both teams are doing, and we look forward to a fruitful future of working together.
Decentralized Relayer Network: The relayer network makes cross-chain transfers trustless and gasless. And it passes on events across chains for each transfer to the bridge;
Trustless Cross-Chain Bridge: Token swaps across multiple chains are conducted seamlessly with Pontoon’s state-of-the-art relayer network;
Cross-Chain Liquidity: Users can add liquidity and earn rewards in Pontoon’s native token, $TOON, across various chains;
Composability: The design of Pontoon is meant to interact with any DeFi application seamlessly. Pontoon enables multichain liquidity mirrors to unlock underutilized assets trustlessly without any need for intermediaries. Pontoon users can launch a single window with unified access to digital assets and ease of cross-chain DeFi composability with just one click.
TOON Token Utilities
TOON is the native token of the Pontoon Protocol. It contains features such as governance, incentives, and Proof of Stake (PoS):
Governance: Token holders can vote on the direction of the protocol and fund allocation from the treasury.
LP Incentives for LPs and Relayers: Liquidity providers will be incentivized for providing liquidity on each network.
Proof of Stake Relayer Network: A network secured by a series of validators running relayer nodes and getting incentivized on the fee collected.
Details about the Initial Hot Cross Offering
When we announced IHO’s last month we knew that the first one had to be special, aligned with our multi-chain and cross-chain mission, and a team that has strong technical competency. Pontoon fits the mold, and we’re happy to share the exact details of the sale. More information will be posted in the coming days also.
First and foremost, whichever way you enter into this IHO, you will be paying in in HOTCROSS-BNB LP PCS V2 (contract address). This is why we set up an insanely massive pool on Cross Pool a few weeks ago. Those who have been following us long enough know that everything we do has some relation to something that may come next in line for us. That is to say, all you had to do was set up your LP and stake it into Cross Pool, and wait. Patience is precious.
HOTCROSS-BNB LP’s In → TOON Out
The general method by which Initial Hot Cross Offerings operate is really not much different than ApeSwap IAO’s or PancakeSwap IFO’s. There are some nuances which we’ll outline below, but the premise is quite simple: you use HOTCROSS-BNB LP’s to pay for TOON, and any excess funds unused are returned upon claim. A portion of the sale will be capped and a portion of the sale will be unlimited (overflow) so that a healthy balance between fair and full is reached.
The percentage (%) breakdown between the two models will fully depend on how many of you successfully register and KYC with the Hot Cross Protocol. If a small number of participants KYC, then we’ll likely go with a high % for uncapped. If a very large number of participants KYC, then we’ll likely go with a healthy % for capped and uncapped. It’s all about balance here. So let me ask you, cadet, do you want TOON?
When? What? How? Here Are the Details.
📝 Details about the sale are as follows:
Where to buy TOON: IHO page;
Where to whitelist and KYC for the sale: KYC page. You must have a KYC’d wallet to participate in this sale. There is no wiggle room here - we are a B2B compliant-facing team that is non-anonymous and serious about pushing innovation and ideas forward in the on-chain space;
Amount to raise: $700,000;
Tokens for sale: 2,000,000 TOON (2% of Total Supply);
Token price: $0.35 per TOON;
TOON Metrics: Metrics PDF;
Payment method: HOTCROSS-BNB PCS V2 LP’s, BNB zapped into HOTCROSS-BNB PCS V2 LP’s, or BUSD zapped into HOTCROSS-BNB PCS V2 LP’s;
Launch Time: October 28th, 2021. The exact clock time will be announced super soon. You will have ample time to participate;
IHO Duration: ~4 Hours;
Vesting: No Vesting;
HOTCROSS Holding Requirements: 0 Holding Requirements;
Tiers: 0 Tiers, everyone is on the same level;
Lotto: No lotto, everyone who KYC’s can participate;
Deadline to whitelist: October 25th, 2021 (00:00). Do not delay. Start now;
Capped Session Amount: TBD;
Uncapped Session Amount: TBD;
HOTVIP: This is absolutely not required for participating in the first IHO. It’ll come, soon, but not needed right now.
Support and Safety
During the runup to the IHO, many questions will come in. We will also run events and have tons of excitement during this time. We ask that you remain calm, levelheaded, and take heed to the following instructions on how best to get support.
For ACCESS and KYC related questions, email firstname.lastname@example.org.
For product and general support, email email@example.com.
Note that the TOON token has not yet been deployed to the Ethereum mainnet or Binance Smart Chain mainnet. Do not get scammed on fake tokens. Please be cautious and careful.
Nobody from the Hot Cross team will ever direct message you for support. We absolutely don’t do this. Email us or direct message us from a support box on our official website.
A Note on the KYC Process
Please make sure that you carefully read our post outlining the access process for the Hot Cross platform. Many questions have come in about this process and we will cover some of the most common ones below.
Some Answers to Common Questions:
You need to register an email address with us;
Every 12 to 24 hours we pass email addresses to our KYC provider, Synaps;
When your email address has been added to the Synaps system we will not only contact you, but you will also need to follow our social accounts and be proactive about monitoring your KYC status. This is a must. Registering with 0.0625 BNB is not fully performing KYC and you absolutely must do both an email registration and KYC;
If your status shows as “Pending” even after you have a) submitted your email and b) KYC’d, then just wait. Synaps’ API has a slight delay in which successful KYC’s need time to relay that information to the API stack;
If you have issues with KYC documents, verifications, login attempts with Synaps, or anything that is related to the actual KYC procedure, then you must contact Synaps at firstname.lastname@example.org. We have 0 power over your KYC process and nobody at Hot Cross has control over this documentation. We do not need to see your information ever. We just want to know if you are a KYC’d email address and wallet;
Please be mindful that sharing your addresses, wallets, or screenshots in our chat rooms is risky and dangerous. You don’t know who’s lurking in there. Be safe!
Some wallets and devices don’t play nice with our DApp ecosystem. If you run into issues please hop into chat or email email@example.com with your questions.
How Do IHO’s Benefit the Hot Cross Platform?
Initial Hot Cross Offerings offer HOTCROSS holders and HOTCROSS LP’s a significant number of incentives, not least of which is gaining access into another project early. In addition to that, the very nature of IHO’s is to increase the Hot Cross Protocol’s network expansion and “stickiness”. The goals with IHO’s are clear:
Bring amazing ideas and partnerships into the Hot Cross ecosystem;
Allow compliant access into on-chain projects;
Incentivize LP’s to be a part of the Hot Cross ecosystem;
Reduce HOTCROSS emissions by returning a portion of the raise to the protocol itself, thus taking away the need to pollute the protocol with more tokens than necessary;
And to have fun!
How Does This IHO Benefit Pontoon?
We’ve gone through quite a bit above, but the largest win here for Ponton will be immediate access to our network, community, social events, and marketing efforts. We view Initial Hot Cross Offerings through the lens of partnerships. We can proudly say that we have experience being an IFO ourselves, and deeply understand how important it is to keep relationships, incentives, partnership efforts, and collaborative efforts going.
The IHO is just step 1. There are many steps after that from a B2B standpoint where we will be working closely with Pontoon to ensure that we are here to help when needed.
Win-win, together we go far.
An exciting week ahead is lined up for the upcoming IHO with Pontoon. We can’t wait to roll this out and also know that many of you will have questions, confusion, glee, fun, and excitement. We are here to help. Drop us a line in our chat room or email address and we will help you right away! Get ready and whitelisted today.
Ongoing Work at Hot Cross
Ongoing feedback loop for the products we’re building, including the minter
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About Hot Cross
Hot Cross is an extensive multi-chain and cross-chain tool suite that enables blockchain teams and their communities to thrive. At its core, Hot Cross aims to be the best toolbox for ETH and EVM networks. Their development philosophy is agile, and they are a cohort of builders who aggressively seek out opportunities to meet the demands of the now for both B2B and B2C. The core thesis that Hot Cross presents is that users and teams will migrate in part to new networks that feel familiar when presented with good tooling and freedom. Hot Cross is a company and an ecosystem in and of itself, and our goals are towards allowing communities to flourish using our technologies, whether or not they know we are the ones building them.