Selling a Placeholder Token
Last updated
Last updated
A placeholder token is a type of asset sold on Fjord that represents another underlying asset. This can be a token that will be issued at a later date (such as after a Token Generation Event, or TGE), a node, or even a real-world asset (RWA). Placeholder tokens provide an early-entry opportunity for buyers, while the project maintains flexibility around the launch or distribution of the final asset.
By using placeholder tokens, projects can initiate sales and engage their communities early, ensuring interest and participation without the immediate need to launch the final product or asset.
When selling placeholder tokens through Fjord, the process is similar to that of a traditional token sale. However, the distinction lies in the fact that buyers are purchasing tokens that will later be redeemable for another asset. The placeholder token can represent a variety of assets, including:
TGE Tokens: The placeholder token represents a token that will be distributed once the project reaches its TGE.
Nodes: Placeholder tokens can also represent nodes in a network, which will be distributed after the sale ends.
Real-World Assets (RWAs): A placeholder token can represent physical or financial assets that will be delivered or unlocked later.
After the sale concludes, Fjord provides a comprehensive containing the wallet addresses and the amount of tokens each wallet has purchased. This file allows projects to seamlessly airdrop the actual asset, whether it is a token, NFT, node, or RWA, to the corresponding wallets once the asset is ready for distribution.
This approach reduces friction in managing post-sale token distribution process.
A prominent example of a placeholder token sale on Fjord is Unioverse's sale of xUNIO. In this sale, xUNIO acted as a placeholder token representing the future distribution of UNIO tokens. Participants bought xUNIO, with the understanding that they would later receive the actual UNIO tokens at the appropriate time.
Unioverse leveraged Fjord's capabilities to provide a CSV file post-sale, which allowed them to efficiently airdrop the UNIO tokens to all participating wallets. This streamlined the distribution process, ensuring that everyone who purchased xUNIO received their corresponding UNIO allocation.
Early Community Engagement: Placeholder tokens allow projects to engage their communities early, even if the final asset isn't immediately available.
Flexible Timing: Projects can launch sales without the pressure of having the final asset ready, providing more control over timing.
Seamless Airdrop: Fjord simplifies the post-sale distribution by offering a CSV of all token holders, enabling easy airdrops to wallets.
In summary, selling placeholder tokens on Fjord gives projects a powerful tool to engage early supporters and build momentum, with the added benefit of simplified post-sale distribution.