3.1 Token Launch

Each athlete token is a semi-fungible NFT built on the ERC-1155 standard. There is a cap of 10,000 tokens for each athlete. Tokens are sold in batches of 1,000. There is a minimum time frame between when athletes can bring separate batches of their tokens to market. After the cooldown period, a new batch’s release is at an athlete’s discretion.

Initial sales will be priced in one of two ways: athletes can either set a floor price, or bring tokens to market through a batch auction.

To promote liquidity in the secondary market, VO2 has its own marketplace. This is similar to an order book – it keeps track of bids and asks for each athlete token. When a bid for an athlete token is greater than the asking price, that transaction will “clear” and the token will be sold. However, if users manage their own wallet, they can list VO2’s athlete tokens on any secondary exchange. In the future, VO2 will aggregate listings of our tokens across exchanges in that order book.