The Tottenham Hotspur Fan Token Offering of $SPURS on the Socios platform has been scheduled for Wednesday, 4th. The offering will take place in 3 waves, all powered by the Chiliz Blockchain.
Following the FTO, a global launch of the token on third-party platforms will take place 30 days later. Alexandre Dreyfus disclosed earlier before the official announcement, that the global launch will take place on Asian platforms.
The first wave will have a Cap of 100 SPURS, 500 SPURS for the second wave, and the third wave will have an unlimited Cap. Additionally, the FTO Supply is capped at 500,000 trading at $2, while the circulating supply at global launch is capped at 3,000,000.
Socios stated that every month, a “total of 37 million fan tokens will be released over the next 10 years,” in regards to vesting.
Upon launch, the Spurs fan token reward will be in tiers, according to the number of fan tokens held. Rewards are also counted as users participate and act like fans on the Socios platform.
Turkish users need to have their proof of address approved before the FTO, Dreyfus said, stating that more KYC information is needed due to the Turkish regulatory framework. Also, users without the requirement or late approval submission won’t participate.
Prior to the launch date announcement, Tottenham Hotspur stated the Fan token launch would be in collaboration with Socios, a prominent fan token platform.
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