What is Ethersocks (SOX) | What is Ethersocks token | What is SOX token

What is Ethersocks (SOX) | What is Ethersocks token | What is SOX token

Ethersocks (SOX) have been created to celebrate the launch of Eth2, its transition to Proof-of-Stake, and the work of countless industry insiders who are working tirelessly to bring crypto to the masses. Ethersocks are a limited-edition, tokenized asset with a fixed supply of 3200. Owning a pair of Ethersocks means possessing a piece of history both on the blockchain and in your sock drawer. What is Ethersocks (SOX) | What is Ethersocks token | What is SOX token

In this article, we'll discuss information about the Ethersocks project and SOX token

What are Ethersocks?

Ethersocks ($SOX) have been created to celebrate the launch of Eth2, its transition to Proof-of-Stake, and the work of countless industry insiders who are working tirelessly to bring crypto to the masses.

Ethersocks are a limited-edition, tokenized asset with a fixed supply of 3200.*

Owning a pair of Ethersocks means possessing a piece of history both on the blockchain and in your sock drawer.

The SOX

The purchase of the Ethersocks token entitles you to one pair of real-life socks redeemed through our website, a redemption that will also generate an exclusive NFT that will be yours for as long as you hodl. Featuring the Etherhino, the design marks the transition to the next iteration of Ethereum, complimented by the ETH diamond and the carefree colors of the Ethereum lifestyle.

How Does SOX Redemption Work?

The SOX token entitles the holder to one (1) real pair of limited-edition ethersocks, shipped to any address in the world. To get your hands (or feet?) on the physical pair, simply redeem your SOX token at ethersocks.io. As an additional bonus, every redeem transaction will also deliver a unique NFT to the wallet used that can be held or traded on token marketplaces.

[WARNING: Due to the nature of the planned NFT, SOX redemption might not be immediately available at launch! Please also note that we will be seeking community feedback before implementation as we value your input]

Alternatively, you could play the market and speculate on the value of the SOX token itself by trading SOX on any compatible DEX.

SOX Token Launch

Our goal is to establish a broad and equal distribution of the SOX token. The launch will be achieved first through a DODO crowdpooling campaign, during which 1280 SOX will be sold for a fixed price of 0.032 ETH per token.

Following this, a further 1280 SOX will be pooled with the ETH proceeds from the fixed price sale and provided as liquidity for at least a 90 day period in order to ensure that the token has a sufficiently deep market to allow token trading and price discovery to ascertain the value of the original Ethersocks.

Of the remaining 640 SOX tokens, 320 will be given away to the unsung heroes of Ethereum — the infrastructure maintainers and Buidlers. This will happen during the 90-day launch period, while the remaining 320 will be retained to use at the teams discretion.

At the end of the 90 day period the community will decide how to next move forward.

Total supply: 3200

Token Address:  https://etherscan.io/token/0x300a902513815028e97fc79e92082ce6a98d3b74

  • 3200 was chosen as a homage to the 32 ETH required to become a validator in Ethereum Proof-of-Stake.

FAQ

  • Why use this launch method?

The advantage of the DODO Crowdpooling service is that every early supporter in the three day crowdpool campaign gets the chance to acquire SOX for an equal price while also having the benefits of trading it immediately afterwards on an AMM pool with sufficient liquidity.

What happens if there is not enough SOX for everybody in the fixed price phase?

The Crowdpooling mechanism is set up in such a way that the initial 1280 tokens will be distributed equally to all participants in the fund raise. As such, anyone who submits ETH to the pool will receive a proportion of SOX tokens equal to their share of the total amount. A 10 SOX (or 0.32ETH) cap has been put in place to prevent whales buying up an overabundance of supply. If the pool is oversubscribed, however, those who purchased one SOX token may need to supplement the amount purchased in order to complete redemption.

The advantage of the DODO Crowdpooling service is that it automates the distribution of the SOX token in such a way that grants everyone the opportunity to acquire an original piece of tokenized apparel before then befitting from the merits of an automated market maker.

How and Where to Buy Ethersocks (SOX)?

SOX has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT, BNB from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy SOX token.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step - Transfer your cryptos to an Altcoin Exchange

Since SOX is an altcoin we need to transfer our coins to an exchange that SOX can be traded. Below is a list of exchanges that offers to trade SOX in various market pairs, head to their websites and register for an account.

Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase SOX from the exchange.

The top exchange for trading in SOX token is currently https://dodoex.io/

There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once SOX gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

https://www.binance.com  ☞ https://www.bittrex.com  ☞ https://www.poloniex.com  ☞ https://www.bitfinex.com  ☞ https://www.huobi.com

Find more information SOX

WebsiteExplorerSource CodeSocial ChannelSocial Channel 2Coinmarketcap

🔺DISCLAIMER: The Information in the post isn't financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you're a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

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