Battle For Giostone, an Multiplayer Online Battle Arena (MOBA) Web3 game, is launching its Initial DEX Offering (IDO) on Avalaunch on October 4, 2022. According to the fundraising platform, the game’s $BFG token will be a dual-IDO, and the first-ever “Gold IDO.”
“We are thrilled to unveil both our next IDO, @BFGiostone, and our FIRST ever Gold IDO! BFG will be a dual-IDO, with a special sale for Gold Stakers unlike anything ever before,” the Avalaunch team announced on September 22, 2022.
The registration starts on September 25 and closes on October 3.
According to the platform, the IDO launch with Battle For Giostone is a groundbreaking project as it sets new precedents in the world of GameFi. The planned release will introduce a sale structure that employs fair pricing, as well as a specialized sale for “Gold Stakers.”
The platform also said that the partnership will bring a “revolutionary in-game economy,” along with a “highly popular game genre” to the space.
“Battle For Giostone is Avalaunch’s deepest collaboration so far, where from inception, we were able to make strategic decisions alongside the project team,” Avalaunch stated in an article.
About the IDO
The BFG IDO involves two sales in one: a community sale, and a Gold Staker Sale. Both sales are priced at a fair valuation, with a significant portion of the supply allotted to liquidity on-chain provision.
The community sale is intended for the XAVA community. The Gold Staker sale provides consistency between seed round pricing and public pricing. This creates an opportunity for Gold Stakers to participate in the earliest funding round.
“As far as Avalaunch is aware, this is a first in crypto fundraising, successfully closing a long existing gap,” the team stated.
BFG Tokens will have a total supply of 150 million. Here is the breakdown:
- Seed: 300,000 – 9 million BFG at .0333 USD
- Gold Stakers: 150,000 – 4.5 milliom BFG at .0333 USD
- Private: 650,000 – 15 million BFG at .04333 USD
- Avalaunch IDO: 250K – 4.6875 million BFG at .0533
What is an IDO?
Basically, an IDO is a crypto token offering hosted on a Decentralized Exchange (DEX).This model provides a practical way for projects to distribute their tokens.
The primary purpose of an IDO is to conveniently raise funds, while providing investors immediate liquidity. An IDO plays a crucial role in various types of blockchain-based ventures such as business, cryptocurrencies, games, and music.
About Battle For Giostone
Battle For Giostone is an upcoming game that combines facets of eSports and Multiplayer Online Battle Arena (MOBA). Currently, being built on the Avalanche blockchain, the game features 5 on 5 team battles. The teams will attempt to destroy their opponents’ base to win the skirmish. The game also offers a Story Mode where players can lock horns against other creatures.
In Battle for Giostone, players can acquire and control customizable Hero Non-Fungible Tokens (NFTs). These characters possess unique abilities depending on class. There are six classes namely: Melee Warrior, Ranged Warrior, Melee Assassin, Ranged Assassin, Melee Wizard, and Ranged Wizard.
Tokens and Assets
Players who have acquired NFTs through the presale are granted the chance to forge new Heroes, as soon as they reach a certain level in Story Mode. When forging a Hero, minters are given the freedom to select the character’s class and abilities. The cost of forging will depend on the set percentage for each of the Hero’s abilities.
$BFG is Battle For Giostone’s official governance token. Players can earn the ERC-20 token through gameplay, or in tournaments. Moreover, players can also stake $BFG to earn rewards.
Possessing a total supply of 150 million, $BFG is the game’s “driver and lifeblood.” It serves as a currency for the marketplace, battle pass, and skins, among others.
$GIOS is a non-blockchain token designed as in-game credits. Players can use the token to forge new heroes. According to the game’s official website the conversion rate of $GIOS to $BFG will be “purposefully high to stimulate players to forge new heroes.”
The token is exclusively for in-game purposes only and will not be tradable on decentralized or centralized exchanges.
Game dev company M-Tech is the team behind Battle For Giostone’s development. The group is led by its founders CEO Miles Gramatikov, COO Mitko Solakov, CTO Ana Toseva, and QA Kiril Lisickov. They are joined by co-founders Theeban Siva, Vasko Pop Gligorov, and Stojanco Gorbasliev. M-Tech also has Aleksandar Ljusev onboard as art director, and Sergej Bikovskiy as the company’s growth lead.