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IHO 03: Hot Cross to Accelerate New Binance Smart Chain Ecosystem Project: RankerDAO
Whitelisting has already begun. The sale will take place on February 15th.
Hot Cross is extremely thrilled to unveil our third Initial Hot Cross Offering: RankerDAO. RankerDAO is a decentralized autonomous organization (DAO) that enables its guild of gamers to take advantage of its extensive collection of NFTs to gain access to a variety of the most popular P2E games in the industry, including Axie Infinity and Thetan Arena. RankerDAO offers guild memberships and enhanced guild badges, emergent components of SocialFi, and a DAO structure that’s in place to vote on future NFT collection additions and guild modifications.
RANKER tokens will be used to level up guild badges and unlock deeper access into RankerDAO. In addition to those features, holders, guild/DAO members, and the community will have access to:
DAO Exclusive 1v1 Sessions;
DAO Exclusive NFT Minting;
Special NFT Requests;
Special KOL-Invitation Only Sessions;
DAO Voting for NFT acquisition;
DAO Voting for In-House Events and Rewards;
Special Rewards for Guild Quests
Quick RankerDAO IHO Overview
TLDR: Raising $600,000 in a public sale (February 15th, 2022) with 25% upfront (March 15th, 2022) and 90-day linear vesting on the remaining 75%. There will be three sessions; two capped and one unlimited. Capped sessions require holding at least 1 Cross Bosses NFT in your wallet—random unannounced snapshots will be taken before the IHO to determine eligible sessions participants. Payment methods will be HOTDOG and BUSD. The IHO will run for 24 hours. Read more below.
IHO 03 Requirements
The RankerDAO IHO will raise in total $600,000 and consist of three (3) sessions:
$10,000 BUSD Capped (Must have at least 1 Cross Bosses NFT) (40% raise)
Unlimited HOTDOG Uncapped (No Cross Bosses NFT Required) (40% raise)
All sessions require KYC; this is easier now and more automated!
You only need 1 Cross Bosses NFT to participate in both Capped sessions
What Makes This IHO Different
This IHO is different in several key areas than our previous IHO’s, including, but not limited to:
This is the first accelerated project that we’ve done, which essentially means that we are assisting with quite a lot of B2B-side tech for RankerDAO so that they can focus on their mission while we focus on under-the-hood technology, including, but not limited to, multi-chain bridge creation for the RANKER token, a voting portal for the DAO, the upcoming IHO, token vesting and claiming for Seed and Private investors, NFT minting for basic guild membership tiers (alpha mainnet-ready), additions into Cross Pool and Cross Yield post-TGE, and more. We hinted at this last year while laying out our goals for 2022. DAOFi and GuildFi on Binance Smart Chain are focus areas that we wanted to look at, and what better way to do that than accelerate a team focusing on that exact vertical. By doing this, not only do we demonstrate our competency in fast-tracking another team to market, but we also gain experience and ideas around how to run our own guild, DAO, SocialFi, and gaming setup when the time comes.
This is the first IHO that we’ll have since the launch of Cross Bosses, Generation 0. As such, two out of three of the IHO sessions will require that users hold at least 1 Cross Boss to participate in the sale. Doing this adds utility to Cross Bosses and rewards loyal community members who minted the NFT’s with HOTDOG during December ’21.
Token Vesting: we have upgraded our IHO contracts to support the vesting of tokens, reduce hyper-mercenary capital and market shock on launch, and tie in our community more closely with the projects that we help launch should they wish for the option to include vesting in their IHO’s. In the case of RankerDAO, the initial release will be 25% with 90-day linear vesting. Users will be able to return to IHO pages any time they wish to claim their remaining 75% allocations linearly. This is similar to how Cross Pool staking rewards work; you visit and claim rewards as they release out.
“Cooldown” Periods: our IHO’s do not have traditional staking requirements or holding periods to participate in them. As such, super-mercenary capital piles into the mix and often bails out the moment an IHO finishes. While this is great for attaching users to the platform, it’s not so good for the health of HOTCROSS, the ecosystem’s oxygen. To combat this, we have introduced the concept of “reverse staking” into our IHO smart contracts. Payment methods like BUSD and BNB will be immediately refunded in full while payment methods in HOTCROSS or HOTDOG will undergo a period of “cooldown” for seven days in which users can claim them in the same way that they claim vested tokens. To put it simply, refunds on IHO allocations will trickle back to participants to avoid harmful ecosystem shock and attract sticky capital and participation into the platform.
Token Cliff: RankerDAO’s RANKER is expected to go to market during the middle of March. To run our IHO on time and prepare for other IHO’s to come, there will be a cliff on token release. Users will i.) participate in the IHO, ii.) claim their tokens on March 15th (25%), and iii.) continue to claim the remainder of tokens for the next 90 days after March 15th. The RankerDAO team requested this, and we’re more than happy to accommodate this raise style. Other platforms do a “raise now, claim later,” so we want to try it out and see how it goes.
Duration of raise: Because this raise has a cliff that ends on March 15th, we’ll have a comfortable window to run the IHO. We usually do quick raises (a few hours) but can easily accommodate a 24-hour raise this time. The RANKER tokens themselves won’t release until March 15th, so everyone across all time zones should be able to join the sale on their own time.
General Raise Summary
To put the above in simple terms, this is how that will look:
IHO on February 15th, 2022
1-week cooldown on HOTDOG session(s)*
No cooldown on BUSD session
Duration: 24 hours
Cost per RANKER: $0.05
Initial 25% RANKER released on March 15th, 2022
Remaining 75% released linearly for 90 days
The time between the IHO and the cliff was both requested by the RankerDAO team and also cheered on by us to give us time to support the RANKER tech stack and also the RankerDAO team to secure the final go-to-market plans during the next six weeks. We’re not pushing back the IHO, though—another one is on the way imminently.
*It’s super-important to keep in mind that these sessions change with every IHO. That’s the beauty of being part of the community. We adapt and change sale methods and pool methods frequently.
Detailed Raise Summary
📝 Details about the sale are as follows:
Where to buy RANKER: IHO page on February 15th, 2022;
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 compliant-facing team that is non-anonymous and serious about pushing innovation and ideas forward in the on-chain space;
Amount to raise: $600,000;
Tokens for sale: 12,000,000 RANKER (4% of Total Supply);
Token price: $0.05 per RANKER;
Initial Market Cap: $1,480,000;
Initial Circulating Supply: 29,600,000 RANKER (9.867%);
Session 1 Payment Method: HOTDOG, $1,000 Maximum Contribution
Session 2 Payment Method: BUSD, $10,000 Maximum Contribution
Session 3 Payment Method: HOTDOG, Unlimited Maximum Contribution
No NFT Required
Launch Time: February 15th, 2022 at approximately 9 PM GMT +8;
IHO Duration: 24 Hours;
Cliff/Vesting: 25% Released on March 15th*, with 90-Day linear vesting on the remaining 75% to follow. *This may be off by +/- a day depending on how quickly or slowly Binance Smart Chain is running - we’ll make sure to add in claim times as per BSC block time once they’re available;
Cooldown Period: During the seven days following the conclusion of the IHO, you’ll be able to claim back your refunded HOTDOG in a linear fashion. BUSD will be refunded immediately. This is intended to reduce in-and-out mercenary capital causing harmful market fluctuations;
HOTCROSS Holding Requirements: 0 Holding Requirements;
Tiers: 0 Tiers, everyone is on the same level;
Lotto: No lotto, everyone who KYC’s can participate in the Unlimited Session, and everyone who KYC’s and owns a Cross Bosses NFT can participate in the Capped Sessions;
Cross Bosses NFT Snapshots: Random;
HOTDOG Capped Session Amount: $120,000;
BUSD Capped Session Amount: $240,000;
HOTDOG Unlimited Session Amount: $240,000;
Support and Safety
During the runup to the IHO, many questions will come in, and we will also run events and have tons of excitement during this time. We ask that you remain calm, levelheaded, and heed 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 RANKER token has been deployed on Ethereum and Binance Smart Chain. The contract addresses for these tokens are here (ETH) and here (BSC). Any tokens undergoing migration are in preparation for the upcoming IHO and market launch in March; there are no markets open for RANKER right now. We are currently polishing off the bridge for the RankerDAO team. Feel free to bookmark that page.
Nobody from the Hot Cross team will ever direct message you for support. We absolutely don’t do this. Please email us or direct message us from a support box on our official website.
A Note on the KYC Process
We’ve automated this flow. Once you register, you are immediately allowed to begin KYC’ing directly from the KYC page. There’s no more waiting for emails or manual steps in the process.
No refunds on banned countries. The admin overhead is too high for that, and we’re super-clear about this before logging into the application. For anyone who has registered but not KYC’d, we’ll find a way to use your addresses for fun things in the future. For now, though, consider registrations to be final and non-refundable.
Some Answers to Common Questions:
You need to register an email address with us;
If you have issues with KYC documents, verifications, login attempts with Synaps, or anything related to the actual KYC procedure, 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 want to know if you are a KYC’d email address and wallet;
Please remember that sharing your addresses, wallets, or screenshots in our chat rooms is dangerous. You don’t know who’s lurking in there. Be safe!
Some wallets and devices don’t play nice with our DApp ecosystem. Please hop into chat or email email@example.com with your questions if you run into issues.
The IHO page will be updated to show RankerDAO information in the coming days.
How Do IHO’s Benefit the Hot Cross Platform?
Initial Hot Cross Offerings offer HOTCROSS and/or HOTDOG holders and/or 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 partnerships and ideas into the Hot Cross ecosystem;
Allow compliant access into on-chain projects;
Incentivize LP’s to be a part of the Hot Cross ecosystem;
Incentivize the community to learn more about Cross Bosses;
Incentive the community to learn more about HOTDOG;
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 RankerDAO?
We’ve gone through quite a bit above, but the largest win here for RankerDAO will be immediate access to our technology, 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 step 1. There are many steps after that from a B2B standpoint where we will be working closely with RankerDAO 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 RankerDAO. We can’t wait to roll this out and 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.
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About Hot Cross
Hot Cross is an extensive cross-chain and multi-chain infra & web3 application playground 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.