Legion
  • General
    • Introducing Legion
    • The Legion Webapp
    • High Level Sale Customer Journey
    • The Legion Whitepaper
  • Backend
    • Intro
    • Authentication
    • API Integration Flow
    • Swagger Documentation
  • Front end
    • Intro
  • Smart Contracts
    • Overview
    • Architecture
    • Fixed Price Sale
    • Sealed Bid Auction Sale
    • Pre-Liquid Token Sale V1
    • Pre-Liquid Token Sale V2
    • Address Registry
  • Deployments
    • Ethereum Mainnet
    • Arbitrum One
  • Security
    • Audits
    • Bug Bounty
    • Incident Response Plan
    • Incident Response (Blacklist)
Powered by GitBook
On this page
  • Overview
  • Pre-Liquid Token Sale V1 Stages:
  • Key Functions
  1. Smart Contracts

Pre-Liquid Token Sale V1

Overview

The LegionPreLiquidSaleV1 contract is used to execute pre-liquid sales of ERC20 tokens before the Token Generation Event (TGE). It manages the entire lifecycle of the sale, including investing, refunds, raised capital withdrawal, token distribution for vesting, and sale cancellation.

The main difference with the other types of sales Legion offers is that the pre-liquid sale commences before the token actually exists and is deployed (Pre-TGE). Only whitelisted users are allowed to invest in the sale, once they have signed a legally binding SAFT (Simple Agreement for Future Tokens). Once TGE occurs, Legion publishes the data on-chain, and projects supply the tokens for distribution.

As there is a certain time gap between the period when capital is raised and the TGE, projects are allowed to withdraw capital before they supply the tokens, as they might need early access to it. However, once any raised capital is withdrawn, no changes are allowed to the vestingTerms.

In comparison to other sale contracts, the LegionPreLiquidSaleV1 is more asynchronous; however, its stages can be described as follows:

Pre-Liquid Token Sale V1 Stages:

  1. Active Investment Period: The stage where whitelisted users invest capital and investments are accepted.

  2. Refund Period: This stage is required by the MiCA regulation, where users can receive a refund if they decide. In the case of a pre-liquid sale, the refund period is counted individually for each investor.

  3. Capital Withdrawal: Once a refund period for an investor is over, projects are allowed to withdraw the raised capital from this investor.

  4. Token Claims: After the TGE details are published by Legion and tokens are supplied by the project, investors are allowed to claim their tokens into the vesting contract deployed for them.

Key Functions

  • initialize: Initializes the sale with configuration parameters.

  • invest: Allows whitelisted users (SAFT signers) to invest in the pre-liquid sale.

  • refund: Allows investors to receive a full refund within 14 days since their investment (MiCA).

  • publishTgeDetails: Publishes the TGE details, called by Legion.

  • supplyAskTokens: Allows the project admin to supply tokens for the sale.

  • updateVestingTerms: Allows the project admin to update the vesting terms for the pre-liquid sale.

  • withdrawRaisedCapital: Allows the project admin to withdraw raised capital.

  • claimAskTokenAllocation: Allows investors to claim their token allocation, after TGE and tokens are supplied by the project.

  • cancelSale: Allows the project admin to cancel the sale.

  • withdrawCapitalIfSaleIsCanceled: Allows investors to withdraw back their capital if the sale is canceled.

  • withdrawExcessCapital: Allows investors to withdraw excess capital in case they've provided more than the amount according to the SAFT has been lowered.

  • endSale: Allows the project admin or Legion to end the sale.

PreviousSealed Bid Auction SaleNextPre-Liquid Token Sale V2

Last updated 3 months ago