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How $SEAT’s deposit period works

You’re probably aware that we are fast approaching the sale period for our $SEAT token IDO on the Skyward launchpad.

Charlie Gardener
Charlie Gardener
May 15, 2022
min read
Blockchain Blockchain

An NFT event ticketing marketplace helping artists foster closer connections with fans, eliminating fraud and reducing the impact of scalping.

You’re probably aware that we are fast approaching the sale period for our $SEAT token IDO on the Skyward launchpad. The sale period runs from the 24th-30th of May 2022, but the week before that sees an opportunity for investors to deposit their required $NEAR tokens and receive a fair price for $SEAT.

$SEAT Token

The $SEAT token is not designed exclusively for cryptocurrency investors; it carries a series of benefits, perks and utilities on our NFT ticketing marketplace for users who hold it.

It’s designed to be a central part of our ecosystem, with holders benefitting from a reduced buyers fee (default 5% + 1.5% payment processing fee for credit/debit card purchases), access to an exclusive Rewards Centre, and the opportunity to stake it in return for a cut of collected buyers fees. You can read more about $SEAT token utility and perks here.

We wanted our community to stand a fair chance of investing in $SEAT without the launch of our token being out of reach for those people our platform is designed to help.

Why Skyward

We chose Skyward to host phase one of our IDO. It’s resistant to bot attacks, prevents ‘pump-and-dump’ schemes, and offers a transparent price discovery mechanism. Alongside its seamless integration with the NEAR wallet, this makes it the perfect platform to make sure our community has a chance to get their hands on $SEAT before it hits the major exchanges.

A price discovery mechanism allows market interest to set the price for our $SEAT token. This means that our community will have a transparent window into how many $SEAT tokens they will get in exchange for their $NEAR, determined by the number of tokens deposited into the contract during the deposit period.

Deposit Period

The deposit period is an opportunity for investors to show intent before the sale period begins. Depositing $NEAR during this window will not force you to buy $SEAT during the sale period, it simply shows other members of the community that you are interested in the $SEAT token. Should you feel the token price for $SEAT is too high when the sale goes live, you can simply withdraw some or all of your $NEAR.

This is the first opportunity our community has to invest in the $SEAT token. Once the sale period finishes, there is no other opportunity to exchange $NEAR for $SEAT until it hits the exchanges.

The deposit period runs from the 17th-23rd of May 2022 and is simple to take part in.

All you need is a NEAR wallet with $NEAR tokens in and to head to the Skyward website. On the landing page, click “Applications”, and once the deposit window opens, you will see SeatlabNFT with the option to deposit.

Wrapping Up

Taking advantage of the deposit window is no more complicated than purchasing $SEAT during the sale window. It’s on the same platform, with the same steps, but just a week beforehand!

Check out our tokenomics to get an idea of how $SEAT forms a robust economy on the SeatlabNFT platform.

If you aren’t set up for our IDO yet, see full details on how to participate here.

Otherwise, stay in touch with us via the channels below to see how we’re connecting artists and fans through experiences as we redefine the event ticketing industry.

$SEAT trading is now live! For information on trading, staking and yield farming for huge rewards, check out this how-to guide.

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