IAO #007 — Dragonary! 🐉

The future of Play-to-Earn is here 🚀

4 min readJul 28, 2021

Apes, please welcome Dragonary, our next IAO partner, to the Jungle. 🐵🌴

Introducing Dragonary 🐲

Dragonary is a brand new game being developed by CoinaryTV for Desktop, iPhone, and Android, where users can play to earn in-game currency. You can collect, trade, and breed various dragon NFTs and battle against the game or other players to win!

Dragons in the game are also collectable as NFTs that can be traded, sold, or bought on the Dragonary marketplace. In addition you can level up your dragons to make them even more rare and valuable! There will be more than 322+ million different-looking dragons and with infinity different stats combinations.

Check out the Dragonary website to learn more: https://dragonary.com

About CoinaryTV and CYT 📺 🪙

CoinaryTV is the largest and fastest-growing Spanish-speaking crypto Youtube channel in the world 🤯, and they have been developing Dragonary for months with the goal of creating an accessible blockchain-based play-to-earn game that will attract both gamers and crypto enthusiasts alike.

Built atop the Callisto network, Coinary has developed a unique single sign-in method allowing both crypto-native and non crypto-native users to participate in their complete ecosystem with zero fees.

CYT is the main token used across the entire Coinary and Dragonary ecosystem, allowing you to purchase dragons, power-ups, and other bonuses from the marketplace.

IAO 007 Token Claim Structure 📋

As governance ‘Prop 2’ passed, the structure of IAO 007 will be different from previous IAOs in two ways. First, the length of the IAO will be 12 hours instead of 1. Second, the IAO tokens to be claimed will vest over at least 3 months.

The vesting schedule works as follows:

25% of tokens will be released to IAO participants immediately.
25% of tokens will be released each month subsequently after that for 3 months. Specifically 25% 1 month after, 25% 2 months after, and 25% 3 months after.
As always any overflow tokens (e.g., excess GNANA or BNB) would be immediately claimable by users.

CYT Tokenomics 🤓

IAO Offering: 110,000,000 CYT — these tokens will be sold on ApeSwap via our BNB and GNANA offerings.
IAO Pool Allocation & Marketing: 40,000,000 CYT — these tokens will be used for a GNANA staking pool, NFA airdrop, and various co-marketing activities.
IAO Liquidity Allocation: 10,000,000 CYT — these tokens will be paired with BNB from the IAO then added to ApeSwap as initial liquidity. This liquidity will be locked for 6 months.
In-Game Mining: 749,000,000 CYT — these tokens will be minted by users for playing Dragonary!
Team: 50,000,000 CYT — Team tokens will be locked and vested over 10 years.
Airdropped: 41,000,000 CYT — these tokens were airdropped to early testers and active community members. They can be used in game, but won’t be able to sold on any exchange for 6 months.

For a full breakdown of the tokenomics and more on Dragonary, check out the whitepaper!

All the details you need to know 🐵

Once again, this IAO will have two offerings.

Primary Offering: IAO tokens purchased with $BNB 🪙
Secondary Offering: IAO tokens purchased with $GNANA 🍌

Both offerings will occur at the same time and for the same token price, but they will be on different UI pages, have different hard caps, and use different methods for purchasing CYT. Read all the details below!

➡️ Details about the Primary Offering ($BNB)

🖥 Sales Page: IAO Page — https://apeswap.finance/iao

🚀 Launch Time: Saturday August 7th at 16:00 UTC

💲 Token Price: $0.01 per $CYT (paid in $BNB)

🎫 For Sale: 60,000,000 $CYT

💰 Hard Cap: $600,000

⏱ Duration: 12 hours (Everyone gets a chance to participate!)

🔐 Lock-up and Vesting: 25% of tokens will be released immediately after the IAO, and the other 75% will be unlocked over three months, 25% at a time!

If you need a refresher on how to participate in a standard IAO, check out the details in our docs!

️➡️ Details about the Secondary Offering ($GNANA)

We published some additional details on our Golden Banana token ($GNANA). You can read all about it here, but for the purposes of the Dragonary IAO, here is what you need to know!

Users need $GNANA to participate in this raise, (it’s not staking) it will be used as funding for the IAO and you will get the $CYT tokens in return. Of course, we burn all the $GNANA we do not return. Don’t forget, $GNANA is valued at 1.38x $BANANA price for IAO’s!

🚀 Launch Time: Saturday August 7th at 16:00 UTC

💲 Token Price: $0.01 per $CYT (paid in $GNANA)

🎫 For Sale: 50,000,000 $CYT

💰 Hard Cap: $500,000

⏱ Duration: 12 hours (Everyone gets a chance to participate!)

🔐 Lock-up and Vesting: 25% of tokens will be released immediately after the IAO, and the other 75% will be unlocked over three months, 25% at a time!