On July 14, 2023, the ONUS Name Service (ONS) was approved by the community through ONUS Voting. With an “Agree” rate of 91.43%, the ONUS Name Service (ONS) project officially met the requirements to be launched for sale to the community through the ONUS Launchpad platform.
Below is the information about the ONS sale through ONUS Launchpad.
*Note: ONUS Launchpad is a platform that helps projects launch their tokens for the first time to the community. All projects go through an evaluation process by ONUS to ensure users can access high-quality projects. However, due to the nature of the market, ONUS will not be responsible for any asset losses. Investors are advised to do thorough research, understand the risks involved, and exercise caution when trading.
Summary of the ONS Launchpad Sale Plan:
- Total number of tokens for sale: 17,500,000 ONS
- Token Sale Format: First come, First served (might end sooner when 17,500,000 ONS are sold out)
- Subscription Period: from 07:00 AM UTC on July 26 to 07:00 AM UTC on July 27
- Token distribution: 9:00 AM UTC on July 28th
- Participation requirement: All ONUS application users from VIP 2 (completed Advanced KYC)
Users can purchase ONS with VNDC or ONUS in the following two Launchpad pools:
1. VNDC Launchpad Pool:
- Launchpad Hard Cap: 14,000,000 ONS
- Public Sale Token Price: 1 ONS = 285 VNDC
2. ONUS Launchpad Pool:
- Launchpad Hard Cap: 3,500,000 ONS
- Public Sale Token Price: 1 ONS = 0.03 ONUS
After the ONS allocation is completed, the following features will be available starting at 8:00 AM on July 28th:
- Listing ONS on the ONUS application.
- Enabling Off-chain, On-chain, Trade, and P2P trading.
Launchpad Process:
The Launchpad program for ONS will consist of four main stages:
Phase 1: Determine buy options
The maximum allocation right is the maximum amount of VNDC/ONUS you are allowed to use for the purchase registration. Users need to determine their default purchase rights before 2:00 PM on July 26th.
Allocation rights for VIP 2 and above members are as follows:
Purchase with VNDC | Purchase with ONS | |
Default purchase rights | - Minimum: 500,000 VNDC - Maximum: 10,000,000 VNDC | - Minimum: 500,000 VNDC - Maximum: 10,000,000 VNDC |
Maximum buying rights | Maximum buying rights = Default allocation right + (vONUS Score * ONUS/VNDC Exchange rate at the time of allocation right calculation) | Maximum buying rights = Default allocation right + vONUS Score |
Example | If you are a VIP 2 member and own 1000 vONUS, your maximum allocation right would be 1000 ONUS + 1000 vONUS = 2000 ONUS. | If you are a VIP 2 member and own 1000 vONUS, your maximum allocation right would be 1000 ONUS + 1000 vONUS = 2000 ONUS. |
Phase 2: Subscription
To register to buy ONS, you need to deposit VNDC or ONUS into the ONS Launchpad pool. The sale of ONS will be conducted on a “First Come, First Served” basis. Users who deposit VNDC or ONUS early will be guaranteed to buy ONS based on the amount deposited and the specified exchange rate. The Launchpad program will end when all 17,500,000 ONS are sold or when the time limit is reached.
The subscription period is from 07:00 AM UTC on July 26 to 07:00 AM UTC on July 27 (might end sooner when 17,500,000 ONS are sold out)
Phase 3: Token Allocation
At 07:00 AM UTC on July 27, ONUS will close the subscription portal and distribute ONS to investors who have successfully placed orders.
Phase 4: Claim Token
For investors who successfully purchased ONS, ONUS will automatically transfer this amount of asset to your account.
According to the policy of the ONUS Name Service, you will receive 50% of Launchpad tokens at 9:00 AM UTC on July 28. After 30 days from this day, the remaining 50% of Launchpad tokens will be linear vested every 3 seconds for the next 90 days.
About ONUS Name Service & ONS Tokens
ONUS Name Service (ONS) is the first distributed, open, and extendable naming system on the ONUS Chain, providing decentralized digital identity and ownership to domain holders.
Register your domains here: https://ons.finance/
The function of ONS is to convert names that can be read by humans, such as “team.onus,” into names that can be read by computers, including EVM-compatible addresses, addresses for other cryptocurrencies, content hashes, and metadata. With the use of ONS’s “reverse resolution” feature, it is also feasible to link ONUS Chain addresses to metadata like canonical names or interface descriptions.
However, because of the possibilities offered by the ONUS Chain, ONS has a fundamentally different design from DNS, the Internet’s Domain Name System. Similar to DNS, ONS uses a system of domains – dot-separated hierarchical names – in which the domain’s owner has complete control over its subdomains.
Top-level domains, such as “.onus,” are controlled by smart contracts known as registrars, which also define the policies dictating how their subdomains are distributed. Anyone can get domain ownership for their own use if they abide by the restrictions imposed by these registrar contracts. Additionally, ONS allows users to import their existing DNS names for use with ONS. Because ONS is hierarchical, anyone who controls a domain at any level may set subdomains as desired, either for themselves or for others.
ONS is the native token of the ONUS Name Service platform that empowers its holders with the following utilities:
- Used to register and extend the domain registration period.
- Used to join auctions by placing bids.
- Used as the reward for the referral program.
- Used as the staking reward.
- Used in ONS DAO Voting.
Specification
- Name: ONUS Name Service
- Ticker: ONS
- Platform: ONUS Chain
- Token type: Utility
- Total supply: 50,000,000
Learn more about ONUS Name Service: Website | Whitepaper
