NuMoney Exchange

What is an Initial Exchange Offering?

The way an initial exchange offering (IEO) differs from an Initial Coin Offering (ICO) is that:

  1. The token sale takes place directly on an exchange instead of a smart contract
  2. The token sold will immediately be tradeable on an exchange

With NuMoney Exchange's IEO, the differences go further:

  1. You will be backing NuMoney Exchange, a ready product, instead of its whitepaper concept
  2. Tokens will be sold exclusively via sell orders on the order book

Why does NuMoney Exchange need an IEO?

We are launching an IEO to kickstart liquidity on our exchange.

With a token sale exclusively hosted on NuMoney exchange, we hope that

  1. Users will deposit Ethereum to trade for NMX tokens - lead to sell orders for Ether
  2. Local users will deposit SGD fiat at our exchange to purchase Ethereum, in order to trade for NMX tokens - lead to buy orders for Ether
  3. Users will register and participate in trading activities in exchange for airdropped tokens - motivate users to join NuMoney Exchange

NMX token sale

For NuMoney's IEO, we will be releasing NMX tokens for sale.

Like the Binance's BNB token, the NMX token will be used as an alternative payment method for fees (with a discount) at NuMoney Exchange.

The NMX token sale will be capped low and will exist as a one-time only sale.

For details on fee discounts, and other information about NMX tokens, click here.

30-day token sale period

The NMX token sale will be launched soon with a total sale period of 30 days. The token sale will take place on the ETH-NMX market.

Prior to the token sale, we will be launching NuMoney Exchange first with an Ethereum-SGD pair, so users can trade SGD and Ethers in preparation for the token sale.

We will be announcing the launch date of the token sale via 2 channels, the IEO Telegram Chat, and our mailing list.

Total cap

We will be minting a total of 1,000,000,000 NMX tokens, with each token priced at USD$0.01. This puts the token sale at a soft cap of US$10,000,000.

Token allocation

% Allocated to
75% Token sale
10% Team
10% Marketing
5% Bounties

How will the IEO be executed?

The IEO will be launched on NuMoney Exchange in the near future. If you have not joined our IEO's telegram group or subscribed to our mailing list, please do so to stay informed.

NuMoney Exchange will be launched before the IEO, so potential buyers can deposit their Ethers into the exchange in preparation for the IEO.

On launch date of the token sale, the ETH-NMX market will be opened. The first 3 days of the token sale will be opened only to whitelisted members.

To buy NMX tokens, you have to make a buy order on the ETH-NMX market with your ethers.

After the first 3 days of token sales, the ETH-NMX market will be open to the public, for which limited tokens will be released every hour every day, 11am to 6pm, for 8 hours a day.

Dutch auction

On the first hour, the token will be released at an approximate equivalent of USD$0.01 (priced in ETH). If it is sold out in the first minute, the price in the next hour will be increased by 10%. Conversely, if it is not sold out before the next hour comes on, the price in the next hour will be decreased by 20%. The lowest price the token will be sold at is US$0.007.

Unsold tokens

Unsold tokens will be burnt.

Whitelist-only 3 day token sale

In the first 3 days of the token sale, the sale is only open exclusively to whitelisted users. Whitelisted users are the top 300 users with the largest amount of Ether deposited into NuMoney Exchange before the IEO. We will release a leaderboard when the exchange launches.

On the first day, the top 100 users will be able to access the token sale, with the price starting at 20% discount ($0.008)

On the second day, the top 200 users will be able to access the token sale, with the price starting at 15% discount ($0.0085)

On the third day, the top 300 users will be able to access the token sale, with the price starting at 10% discount ($0.009)

On the fourth day, the dutch auction resets, and the token sale will be available to the public.

80% of the tokens available for sale will be sold in the first three days. The rest will be sold in the remainder of the sale period.

Lock-up period

Tokens are tradeable and available for withdrawals after the IEO.

Bounties

5% of the total tokens minted will be given as bounties to new users of the exchange. That means to say, simply by being an early user, you will be rewarded with some tokens. This is how tokens will be distributed via the bounty programme.

Objective Tokens added to account
Deposit any amount of fiat or cryptocurrency 500
Verify account 500
Make any successful trade 500

Note: `NMX` tokens given as bounties will be locked up until your account is verified.

When will the IEO launch?

We will be announcing the launch date of the token sale via 2 channels, the IEO Telegram Chat, and our mailing list.

Securities and legality

NuMoney Exchange's IEO of NMX token is structured in every way not to cross the boundaries of being a form of securities.

For example, even though NMX token was inspired by BNB (Binance's) token, we deliberately left out the concept of burning tokens which might lead to an accelerated scarcity of BNB tokens.

A great analogy of NMX token is to think of it as a 70% discount coupon, for which is sold to early users to kickstart sales. This coupon can be used to redeem any future purchases, or could be resold to anyone who might have a large purchase that stands to gain more from the coupon than you do.

We have engaged Coleman Street Chambers LLC in ensuring that the NMX token sale deviates as far as possible from the concept of being a form of securities.

Why should you participate in NuMoney Exchange's IEO?

  1. Singapore and the APAC region badly needs a proper cryptocurrency exchange that has significant liquidity
  2. Singapore and the APAC region needs an exchange that is resilient to the sways of banks, and we can solve this with cash-only deposits/withdrawals
  3. When you purchase NMX tokens, you are backing an exchange that has already delivered on its promise of building an exchange. In other words, you are supporting a product that has already been established instead of just a viewpoint.
  4. NuMoney's core team are comprised of programmers, so you can trust that we can build an exchange that can scale
  5. NuMoney has a track record of delivering promises

How to participate in NuMoney's IEO?

  1. Subscribe to our mailing list, and join our IEO's telegram group.
  2. When NuMoney Exchange launches soon, you can deposit Ethereum in our exchange in preparation for the IEO
  3. If you do not have Ethereum, you can deposit fiat at our office to fund your account to buy Ethereum
  4. About a week after the exchange is launched, we will launch the IEO, for which you can purchase NMX tokens from the exchange's market