# Rules and Conditions

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#### Have you read [Distribution](/initial-liquidity-offering-ilo.md) yet? If not, have a good look.

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## Participate

By pariticipating PSF, you are to set the initial price of OWY in ETH. The price of OWY  in the Public Seed Funding (PSF) will be set at $0.69/ OWY with the total amount of 90% from the maximum supply, or 62,100,000 tokens.

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**Participation criteria** are as follows:

1. ONE wallet can only purchase 0.01 OWY minimum and up to 6,900 OWY maximum.
2. ONE wallet  can purchase multiple times until it reaches the maximum amount or the event ends.
3. Once paid, funds cannot be returned. 
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**Overview:** 

<mark style="color:orange;">**THE PSF OFFICIAL DATE IS NOT YET AVAILABLE, PLEASE WAIT FOR THE OFFICIAL ANNOUNCEMENT.**</mark>

By participating in the PSF event, you are to add your ETH to [Uniswap](https://uniswap.org) for liquidity provision with OWY tokens. You will get half of your LP tokens amount and another half will be locked permanently in the Uniswap contract. There is a vesting period of 1 year or 365 days for your LP tokens to be claimed, start counting when the event ends. You can claim it in every block or at the frequency of choice.&#x20;

Since you can claim only half of the LP tokens, for example 200 LP tokens instead of 400 LP tokens, OWY has to gain its value in ETH more than 100% or 2X from your entered price, in order to produce profits for you.&#x20;

However, if OWY is purchased heavily, you will be left with more ETH than OWY in each of your LP tokens, in exchange to capital gains you will realize.<br>

You will also earn all of the trading fees from LP and receive capital gains from OWY if its price in ETH exceeds your entered price.
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## *PSF event ending*

#### if ONE of the two conditions below is met:

1. All allocations are taken.
2. The time limit of 69 days is exceeded.&#x20;

After the event is ended for 24hrs, the smart contract for LPing is unlocked, publicly callable by anyone. When it is called, all the rest of the community allocation (90%) combined with ETH from PSF are matched and LPed in [Uniswap](https://app.uniswap.org/swap), and the vesting period begins counting. OWY is then publicly and permissionlessly tradable. In case when PSF is finished by exceeding the time limit, all unsold OWY will be permanently burnt.

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The amount of OWY that remains after the PSF event will be burnt forever!
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## *Claim OWY from PFS*

* The PSF vesting period begins from the moment when the LPing contract is called.
* Since there is no cliff, all  PSF participant can claim their OWY as frequently as one block, the claimable amount is proportional to the total purchases, the number of blocks since the last claim (or the started vesting block if the person has never claimed), and the OWY current total supply at the claim.
* Only half the amount of OWY tokens for each participant will be claimable once it meets or exceeds the vesting period. This means that half of the amount will be returned to users for both in OWY and ETH when users make claims. The other half will always be locked on UniSwap.&#x20;


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