The public sale will begin on December 6th and will continue 72 hours on the project’s official Sipher website.
SIPHER is a live-action, light-roleplaying, procedurally generated, cooperative, and competitive dungeon crawler and battle arena game with a great story and fun cast of playable characters. The world will be set in the sci-fi fantasy world. The environment will feel immersive with aspiring characters that will keep the players engaged for years to come.
Sipher was looking for a way to deal with the problems that were talked about that made it hard for users to participate, so they decided to run this public sale through their own customized version of the Initial Bonding Curve Offering (IBCO).
The purpose of IBCOs is to address the aforementioned issues by the use of bonding curves from Decentralized Exchanges (DEXs). 40,000,000 (4%) of the $SIPHER tokens will be pre-minted and given to the Token Sale Smart Contract during the $SIPHER Initial Public Sale. The price of each $SIPHER Token will begin at $0.36, and due to the bonding curve approach employed in the IBCO, the settlement (final) price of the token will climb as money is donated. This is consistent with the supply/demand theory. Alternatively, removing cash will result in a decrease in the token’s settlement (final) price for everyone. An example of how an IBCO’s price discovery works are as follows:
Assumptions: Initially, there are 1000 $SIPHER Tokens for Sale in the IBCO, at a starting price of $1 per Token.
1st Interaction:
2nd Interaction:
The market determines the final price in an IBCO. The initial price is only a guideline; the ultimate price is set by market participants.
3rd Interaction:
The price of an asset (in this example a token) should reflect the equilibrium struck between market players – sellers and buyers. Unlike an IDO, an IBCO’s final price is set by the market. The initial price is only a guideline; the ultimate price is set by market participants.
As previously indicated, an IBCO is a mathematical and programmatic process. It uses Smart Contracts, which are decentralized and do not require manual oversight or management.
Because the final price is set by the market participants, the buying price will be the same. This is based on the Total Token Supply and the Final Token Pricing (determined by the market).
There’s no need to rush in early and try to obtain the best deal, since all contributions will lead to the ultimate token price that everyone pays. It takes a community. The Sipher IBCO will have a 72-hour deposit period where participants can contribute or withdraw funds.
Due to the structure of an IBCO, early contributors have no advantage. Using bots or other automated methods to contribute funds is pointless because the final price is set by market participants within the IBCO’s time frame.
The Token Price may fluctuate to the point where members no longer wish to participate in the IBCO. Participants will be able to withdraw their committed funds at any time throughout the 72 Hours of the IBCO, with some restrictions imposed to donations over 1 ETH in total value. These limits are in place to dissuade large capitalists from manipulating prices.
The IBCO contract will include a ‘conviction contribution amount‘ to deter price manipulation by well-capitalized parties. The more $ETH users pay to the contract, the smaller the percentage of cash they can withdraw, or in other words, the greater their conviction contribution amount. Project’s easy-to-understand, User Interface will clearly disclose the percentage of cash given to the contract that is subject to lock-up prior to your contribution during the IBCO, thus authors recommend interested parties to evaluate carefully based on the information presented during the Token Sale.
That way, they can get the majority of the $SIPHER tokens committed for IBCO at a lower cost than fair market value. An example of a Conviction Curve is shown below. Any sum under 1 ETH is fully withdrawable.
The $SIPHER Initial Public Sale will take place from December 06th (01:00 AM UTC) until December 09th (01:00 AM UTC). Let’s relax, sip, and enjoy!
1.1. Download Metamask from App Store.
1.2. On your Metamask’s application browser, navigate to the official $SIPHER Initial Public Sale page at https://sipher.xyz/token-sale.
1.3. You will be greeted with the following page.
2.1. Click on the button ‘Connect Wallet’.
2.2. A new pop-up (highlighted in a red box in the image below) asking for you to connect your Ethereum wallet will appear
2.3. Click on the relevant Wallet that you will be using to contribute to the Token Sale (For purposes of this guide, we will be using Metamask).
2.4. There will be a new pop-up from Metamask, asking you to connect your wallet. Click on the ‘Connect’ button to proceed.
2.5. Congratulations, you have successfully connected your Ethereum Wallet to the Sipher Website!
3.1. If you have completed Step 2 correctly, you will be greeted with another pop-up, similar to the one clip below.
3.2. Please read the extremely important contents of the pop-up, as well as the links provided, before ticking the checkboxes.
3.3. If you:
a) Have read and agree with the Terms of Service and Privacy Policy.
b) Are not a citizen or permanent resident of, do not have a primary residence in, and are not physically located in the restricted territories or possessions of the countries we have listed.
c) Have selected and declared the country where you are a citizen.
Please click on ‘Confirm’.
3.4. A pop-up will ask you to confirm your action once again. By clicking on “Sign” you will be directed to the $SIPHER Initial Public Sale dashboard.
4.1. If you have completed Step 3 correctly, you will be greeted with the following page:
In which:
4.2. After you’ve entered the amount of contribution you wish to make, you’ll see the below pop-up from Metamask. You will be prompted to validate the transaction on Metamask, by clicking on the confirm button.
4.3. When you receive confirmation below that the transaction is successful, you have successfully got your deposit transferred!
4.4. Withdrawal process will be exactly the same as the deposit, only withdrawal restrictions will be applied for any successful deposit amount of over 1ETH.
5.1. Almost there buddy, your 1st $SIPHER tokens to be used in Sipheria! When the sale period is over on December 9th (01:00 AM UTC), on your browser, navigate to the official $SIPHER Initial Public Sale page at https://sipher.xyz/token-sale
5.2. On your Metamask’s application browser, navigate to the official $SIPHER Initial Public Sale page at https://sipher.xyz/token-sale.
5.3. You will be greeted with the following page.
5.4. There will be a new pop-up from Metamask, asking you to connect your wallet. Click on the ‘Connect’ button to proceed.
5.5. You will be directed to our claim page, in which you will see the total amount of $SIPHER token you can claim. Click on “Claim $Sipher”.
5.6. You’ll see the below pop-up from Metamask. You will be prompted to validate the transaction on Metamask, by clicking on the confirm button.
5.7. When you receive confirmation below that the transaction is successful, you have successfully minted your $SIPHER tokens baby!
1.1 On your browser, navigate to the official $SIPHER Initial Public Sale page at https://sipher.xyz/token-sale
1.2. You will be greeted with the following page
2.1. Click on the button ‘Connect Wallet’ highlighted in the Red Box in the image below:
2.2. A new pop-up (highlighted in a red box in the image below) asking for you to connect your Ethereum wallet will appear:
2.3. Click on the relevant Wallet that you will be using to contribute to the Token Sale (For purposes of this guide, we will be using Metamask).
2.4. There will be a new pop-up from Metamask, asking you to connect your wallet.
2.5. Check the Wallet you specifically wish to contribute to the Token Sale with and then click on the ‘Next’ button to proceed.
2.6. You will then be brought to the 2nd page of the pop-up as per below. Click on the ‘Connect’ button to proceed.
2.7. Congratulations, you have successfully connected your Ethereum Wallet to the Sipher Website!
3.1. If you have completed Step 2 correctly, you will be greeted with another pop-up, similar to the one in the image below:
3.2. Please read the extremely important contents of the pop-up, as well as the links provided, before ticking the checkboxes.
3.3. If you:
a) Have read and agree with the Terms of Service and Privacy Policy.
b) Are not a citizen or permanent resident of, do not have a primary residence in, and are not physically located in the restricted territories or possessions of the countries we have listed.
c) Have selected and declared the country where you are a citizen of.
Please click on ‘Confirm’ in order to proceed to the $SIPHER Initial Public Sale dashboard.
3.4. The below pop-up from Metamask will ask you to confirm by clicking on “Sign” before you can proceed.
4.1. If you have completed Step 3 correctly, you will be greeted with the following page:
In which:
4.2. After you’ve entered the amount of contribution you wish to make, you’ll see the below pop-up from Metamask. You will be prompted to validate the transaction on Metamask, by clicking on the confirm button.
4.3. When you receive confirmation below that the transaction is successful, you have successfully got your deposit transferred!
4.4. Withdrawal process will be exactly the same as the deposit, only withdrawal restrictions will be applied for any successful deposit amount of over 1ETH.
5.1. Almost there buddy, your 1st $SIPHER tokens to be used in Sipheria! When the sale period is over on December 9th (01:00AM UTC), on your browser, navigate to the official $SIPHER Initial Public Sale page at https://sipher.xyz/token-sale
5.2. You will be greeted with the following page
5.3. Click on the button ‘Connect Wallet’ highlighted in the Red Box in the image below:
5.4. There will be a new pop-up from Metamask, asking you to connect your wallet.
5.5. Check the Wallet (account) with which you purchased your $SIPHER tokens., and then click on the ‘Next’ button to proceed.
5.6. You will then be brought to the 2nd page of the pop-up as per below. Click on the ‘Connect’ button to proceed.
5.7. You will be directed to our claim page, in which you will see the total amount of $SIPHER token you can claim. Click on “Claim Sipher“
5.8. You’ll see the below pop-up from Metamask. You will be prompted to validate the transaction on Metamask, by clicking on the confirm
5.9. When you receive confirmation below that the transaction is successful, you have successfully minted your $SIPHER tokens baby!
Coincu gives extensive instructions on how to purchase and own SIPHER in advance of the public sale. Best of luck, and keep risk management in mind.
Find more information about the project:
Website: https://sipher.xyz/
Telegram Announcement: TBA
Telegram Group: TBA
Twitter: https://twitter.com/SIPHERxyz
Discord: discord.gg/SIPHERxyz
If you have any questions, suggestions, or ideas about the projects, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Harry
Coincu Ventures
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