[ Community Choice ITO 7 ] —— Parasset

Innovative lending/synthetic asset protocol Parasset submitted an ITO application. Parasset has passed the preliminary review after the ITO Review Committee’s thorough examination and sufficient communication with the project. The voting result from the $MASK community will decide whether Mask Network supports this ITO.

The Snapshot vote will last for 36 hours, all $MASK holders could vote “Yes” or “No” on this ITO. The quorum is 100,000 $MASK (the vote is not valid until there are at least 100,000 votes), with a more than 66.67% approval ratio.

About Parasset

Parasset is an innovative collateralization lending/synthetic asset protocol. Users can mint p-assets, such as pETH, pUSD by collateralizing NEST/ETH, etc.

Parasset combines some features from both MakerDAO and Liquity. It can collect revenue through the stability fees like in MakerDAO, while it has an Insurance Pool which plays a role similar to the Stability Pool in the Liquity, making the risk control even better. Parasset uses fully decentralized oracle NEST, making it contain unique applications for price quotation miners.

The Insurance Fund keeps the parallel assets and the underlying assets in a 1:1 equivalence relationship. The increase in the size of the pool reinforces the anchoring of the value of the parallel assets to the underlying assets.

The Insurance Fund LP Earns 4 Types of Returns: Transaction fee of 0.2%, Stability fee, Liquidation residual value and ASET.

Investors: Huobi Ventures, FBG Capital, OKEx Blockdream Ventures, 21DAO, AU21, Gravity Resource, LD Capital, Infinity Labs, HOT LABS, Kernel Ventures, LINKVC, Kyros Ventures, All For Ventures, 100X Capital, YBB. Foundation, 7 O’Clock Capital, etc

Website: https://www.parasset.top

Parasset ITO plan *(ITO will be on the BSC)

Round 1: Total value: $50,000 Limit Per Address: 1,000 ASET Price per $ASET: $0.5 Quote Token: $USDT, $USDC, $NEST (based on the market price of Oct 17th) $MASK balance at snapshot: ≥ 500

Round 2: Total value: $35,000 Limit Per Address: 500 ASET Price per $ASET: $0.5 Quote Token: $USDT, $USDC, $NEST (based on the market price of Oct 17th) $MASK balance at snapshot: ≥ 200

Round 3: Total value: $15,000 Limit Per Address: 300 ASET Price per $ASET: $0.5 Quote Token: $USDT, $USDC, $NEST (based on the market price of Oct 17th) $MASK balance at snapshot: ≥ 0

Notes:

1. You can participate in all three rounds of ITO as long as you meet $MASK holder requirements. There will be a random snapshot of the $MASK balance for Round 1&2 of ITO.
2. Parasset has the right to reject the bot addresses when whitelisting.
3. Random factors will be added to the Round 3 of ITO to make bots less competitive.
4. The right of final interpretation is reserved to Parasset and Mask Network.
5. $ASET from ITO will be released on the BSC network.