Luart IDO Details And Guide — January 3rd

We are thrilled to finally launch the highly expected Luart IDO on Thorstarter.

Our Partner Luart

NFTs marketplaces exploded in 2021 and there are ever increasing numbers of curious buyers that have not experienced their first acquisition, Luart will provide an ecosystem where users will be able to buy, sell, trade, and stake at lower gas fees and new projects that will be a reference on this niche.

Luart is a gamified marketplace on Terra that will provide seamless NFT exchange at low gas rates with a slick and navigable UI. As you read this article, Terra’s ecosystem is growing rapidly, and the Luart platform is going to be the dominant NFT pillar for that growth… dare we call it “Terra’s OpenSea”.

The Luart Token

Luart has worked hard to become the first Gamified NFT platform in the Terra Ecosystem; their token is a multi utility token whose objective is to serve as a way for users to earn incentives throughout the Luart platform. As a holder, not only will users earn tokens but also increase their LUA Power score which further increases the odds of rewards.

Luart IDO Overview

🗓 Date: Monday, January 3rd

⏰ Time: 15:30 UTC

🗺 Location: app.thorstarter.org

🏗 Structure: Overflow / Batch Sale

💰 Raise: 500,000 $UST

💱 Price: 0.025 UST$ per Token

Pre IDO

To participate in the Luart IDO you will need to be part of a TIER, also there will be third party KYC requirement through Synaps.io (This KYC is a requirement from Luart’s legal counsel, we will not be using it in future Thorstarter sales)

On the Thorstarter Tiers page, deposit enough XRUNE to be part of a tier
Make sure you have enough funds in your wallet to pay for your allocation plus gas fees
REGISTER INTEREST on IDO page no less than 6 hours before IDO start time
Complete the KYC requirement on Synaps.io

Day of IDO Guide

Go to the Thorstarter website and select the IDO tab from the top menu bar. This Thorstarter IDO page will be the location for all further steps in the investment process.
Connect your wallet (top right)
Select Luart IDO
Choose investment size
Deposit $UST
Receive Luart tokens a few days after IDO when $LUART liquidity is added to Terraswap

*NOTES: These steps will only be valid if you have completed the Pre-IDO requirements.

You can enter our Tiers on Terra with bridged XRUNE OR on ETH with ERC20 XRUNE.

How Tiers Work

Thorstarter’s Tiers give its members guaranteed (with exceptions) allocations in it’s IDOs. Each tiers gives a “multiplier” of the base allocation to its members.

For this LUART sale, THORChain XRUNE LPs will receive tiers credit and be automatically added to Tiers

WARNING: In the interest of keeping a base allocation size of at least $100 USD per participant, the lower tiers might only give you a chance at getting an allocation (for maximal fairness this will be decided by a lottery)

Specifically, this means that if the total raise amount divided by the number of base allocations requested is above $100, everybody gets a guaranteed allocation (say $300,000 raised, 1800 allocations needed, everybody gets $166.66 times their multiplier).

If the number of allocations requested is high enough that participants base allocation would drop below $100, the lowest Tier would become a lottery so that higher tiers can keep a guaranteed allocation of at least $100. (say $300,000 raised, 3250 allocations needed, 500 of those were from Tier 0, only 250 allocation would go to Tier 0, so you would have a 50% chance of getting an allocation (Tier 0 being x0.25 that means 1000 of the 2000 people in Tier 0 would be selected)). Once Tier 0 reaches a 0% chance of winning, Tier 1 will start becoming a lottery, and so on.

FAQ

When can I claim my IDO allocation?
On Monday, January3rd at 15:30 UTC, you will have 6 hours to do so
Is there a participation fee?
No, there is not
Will there be a LUART-RUNE pool on THORChain itself, similar to Thorstarter?
No
When will I receive my $LUART tokens?
When Luart seeds liquidity on Terraswap we will release tokens along vesting schedule: 10% TGE, 6mo linear vest
How can I avoid losing gas when getting FCFS tokens?
Some people have successfully used the Flashbots RPC to avoid paying the gas for a transaction that would have failed (flashbot transactions usually only get included on-chain if they were to succeed

About Thorstarter

Thorstarter is a first-of-its-kind model: a hybrid IDO launchpad that meets decentralized liquidity and investment DAO. TS will function as a decentralized organization that works as a decentralized VC firm, investing with its own native currency into new projects and splitting 50% of the launch with DAO members via a native governance token — vXRUNE.

DAO members are anyone who holds vXRUNE. The DAO treasury will earn fees, and these fees will be distributed in part to vXRUNE holders. The ultimate goal of the Valhalla DAO is simple — to grow the THORChain ecosystem by deepening liquidity for long-tail, up-and-upcoming projects.