# IEO Sale

<figure><img src="/files/iVHMjYIzppDOTA7h7Lx1" alt=""><figcaption></figcaption></figure>

We are excited to announce that OrbCity will be conducting an IEO on [OKX Jumpstart](https://www.okx.com/join/14485377) for our $ORB tokens.

This will be the first opportunity for users to purchase $ORB tokens prior to service launch, and further listings.

To take part in the IEO Sale, users will be need to create an account on\
[OKX Exchange](https://www.okx.com/join/14485377)

### Sale Details <a href="#id-7fc6" id="id-7fc6"></a>

* Time: 2:00 am UTC to 10:00 am UTC on Mar. 21, 2022
* Sale Price: 1 $ORB = $0.035
* Sale Amount: 10,000,000 $ORB
* Sale Type: Proportional Sale

Users will be given $ORB Token allocations based on their $OKB holdings.

Snapshots of users $OKB holdings will be taken daily until March 21st.\
The more OKB you hold for 3 consecutive days before the sales day, the more allotment coefficients (points) you will earn.

If the minimum OKB holding amount and average OKB holding amount correspond to different allotment coefficients (points), whichever the higher will apply, and consistently holding OKB will guarantee higher allotment coefficients;

Depending on the number of $OKB the user is holding, they will receive coefficient points.\ <br>

<figure><img src="/files/yuGYUhj6kfOFQ9eNAQtL" alt=""><figcaption></figcaption></figure>

**Example: User A**\
\&#xNAN;*Day 1: 50 OKB Holding*\
\&#xNAN;*Day 2: 2,000 OKB Holding*\
\&#xNAN;*Day 3: 3,950 OKB Holding*

Then their minimum holding is 50 OKB which is worth 16 coefficient points.\
But their average holding is 2000 $OKB (50+2000+3950 /3) which is worth 20 coefficient points. Since 20 > 16, the user will receive 20 coefficient points.

**Example : User B**\
\&#xNAN;*Day 1: 2000 OKB Holding*\
\&#xNAN;*Day 2: 2000 OKB Holding*\
\&#xNAN;*Day 3: 2000 OKB Holding*

Users minimum holding is 2000 OKB which is worth 40 coefficient points.\
Their average 3 day holding is 2000 which is worth 20 coefficient points. Since 40 > 16, the user will receive 40 coefficient points.

Once the coefficient points calculation period ends, users will receive a share proportional to their coefficient points from the total points.\ <br>

<figure><img src="/files/7xxnDrag0OjK9YSLccIB" alt=""><figcaption></figcaption></figure>

The Red number is the maximum individual subscription.\
For KlayCity, the maximum individual subscription would be 50,000 $ORB \* $0.035 = $1750

The red number will be capped at $1750 worth of $OKB tokens on the sale date.

The yellow number is the coefficient score as seen on the the below chart<br>

<figure><img src="/files/NSXsBzBFUMANGuQqrGNh" alt=""><figcaption></figcaption></figure>

The final calculation therefore will be

(Personal Coefficient\*$1750 of OKB) / (Total Coefficient of All users \* $1750 of OKB)

Bonus for District NFT holders

For users that are holding the district NFTs, they will receive extra coefficient points, based on the highest tier NFT in their wallet.<br>

<figure><img src="/files/fUTLSHn2bFujaWzGpZLf" alt=""><figcaption></figcaption></figure>

We will be conducting a snapshot today March 14th at 12:00 GMT +9 (21:00 KST) of all wallet addresses that are holding district NFTs.\ <br>

<figure><img src="/files/6QvTNsIlZMRwASzHLe1S" alt=""><figcaption></figcaption></figure>

For users that are wanting to participate in the OKX Jumpstart sale, we will be opening a page for NFT holders to submit their OKX ID to receive the bonus allocation. Users will need to connect their wallet holding the NFT and submit their OKX ID , and they will recieve the bonus coeffficient points.

If you do not have an OKX account yet, you can sign up here:

[OKX Exchange](https://www.okx.com/join/14485377)

*Note:*\
\&#xNAN;*Only users who complete KYC 2 verification can participate in the sale; The user’s accumulated trading volume must exceed 5,000 USD in 30 days before subscription.*

**Users will need to submit their OKX ID on the KlayCity website prior to March 17th in order to receive bonus allocation points.**

**Example : User C (Tier 1 Holder)**

**Day 1: 2000 OKB Holding**\
**Day 2: 2000 OKB Holding**\
**Day 3: 2000 OKB Holding**

Users minimum holding is 2000 OKB which is worth 40 coefficient points.\
Their average 3 day holding is 2000 which is worth 20 coefficient points. Since 40 > 16, the user will receive 40 coefficient points. Because the user is holding a tier 1 NFT, they will receive an additional 20 Coefficient points for a **total of 60 coefficient points.**

**Example : User D (Tier 3 Holder)**

**Day 1: 1 OKB Holding**\
**Day 2: 1 OKB Holding**\
**Day 3: 1 OKB Holding.**

Users minimum holding is 1 OKB so user will receive 1 coefficient point.\
Because the user is holding a Tier 3 NFT, they will receive an additional 5 points, for a total of 6 Points.


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