How to launch IDOs on Multiple Platforms — Polkastarter, Duckdao, BscPad, BscStarter, Poolz, PaidNetwork, Part III
In this article, we will continue talking about How to launch IDOs on Multiple Platforms. If you missed Part I or part II of this series, we highly recommend you to read it.
Recently, the cryptocurrency industry has exploded with innovation, fueled by increasing institutional investment, rising community sentiment, and the advent of more than a few powerful new platforms for building more powerful blockchain-based solutions. Here, we take a look at different fundraising platforms running the hottest token sales right now.
One of the first IDO was hosted on Binance DEX and was built on Raven Protocol. Many other platforms also joined the trend and are launching the IDO dashboards. IDOs became an inexpensive way to get around the centralized initial exchange offering model.
Poolz is a fully decentralized, swapping protocol that enables startups and project owners to auction their tokens for bootstrapping liquidity. They started with a big vision — to change the way crypto and blockchain projects raise capital to fund their operation.
The Poolz platform has two major user categories — Project Owners (PO) and Liquidity Providers (LP) — and distinct flows for each. For a high-level understanding of how it works, consider the following situations.
POOLZ is the native token of the Poolz platform.
While there are several pioneering platforms offering liquidity pooling opportunities, the idea with Poolz is to make liquidity pooling available for the pre-listing phase of the project, and existing assets too. So it takes out that initial barrier to entry hurdle suffocating great solutions without the means for a grand market entrance.
Poolz is built as a DAO protocol on ethereum, and the premise of the Poolz operations and governance is that the community gets to decides how governance and operations will evolve, going forward. So even though our team gets to set the initial operations, the community still gets to decide how it eventually evolves.
There are two types of pools on the platform — Direct Sale Pools (DSP) and Time-Locked Pools (TLP).
- Direct Sale Pools (DSP): These are pools without any lock-in period, where investors get the token immediately after the swap.
- Time-Locked Pools (TLP): These pools have a predefined lock-in period and investors receive their swapped tokens only after the completion of this duration.
Any pool on the Poolz platform will have either of the following states at any given time. Based on the pool’s status (and, also type) the smart contract will transfer the liquidity and auctioning tokens to their recipients’ wallets, such as Created, Open, Out of Stock, Finished, Closed
Project owners can initiate a pool by clicking on the ‘Create a Pool’ button. Since Poolz follows a strict non-intervention policy, project owners or POs need to specify the parameters, and after that POs need to click on the Start button to register their pool on the Ethereum blockchain.
There are two main rules for the whitelisting process for the next Poolz IDO:
- Tier Model, with a “lottery-ticket-system” for IDO allocation to whitelisted investors, while two highest tiers (Diamond and Blue Diamond) will also get a guaranteed allocation.
- 7 days mandatory staking period for IDO participation eligibility (with APY for those who don’t win an IDO allocation).
There are six different tiers for investors who are interested in investing in IDOs of groundbreaking crypto projects built across different blockchains: Amber (Tier 1), Sapphire (Tier 2), Emerald (Tier 3), Ruby (Tier 4), Diamond (Tier 5), Blue Diamond (Tier 6).
The higher your stake, the higher is your tier, the bigger are your chances of winning an allocation in a Poolz IDO and the bigger can your allocation amount be.
PaidNetwork is an ecosystem DAPP that leverages blockchain technology to deliver DeFi powered SMART Agreements to make business exponentially more efficient.
With PAID SMART agreement templates, users can easily manage their agreements and communicate with each other. Incentivized Lending & Liquidity Pools Insurance pooling and escrow. Arbitration is Insurance pooling and escrow disputes governed by community stakers. Reputation Scoring Execute business with reputable people. Ignition Crowdfunding Platform is a Private and Public Auction Platform.
The native digital utility token is PAID token. PAID token acts as the core utility within the PAID Network Ecosystem.
To participate in the whitelist lottery, you have to do the following:
- Log in to your account
- Navigate to the pool you’re interested in entering the lottery for
- Click the “Apply” button
- Fill out the form
- Wait for an email from us — we will alert you if you have won, the number of times you have won, and instructions for KYCing so your address can be whitelisted.
After you won an allocation to participate in an Initial DEX Offering (IDO) and a pool is open, you have to join the pool.
- If you haven’t already, log in at paidnetwork.com/ignition
- Connect your wallet — make sure to connect the same wallet which you have already used to pay for your allocation.
- Navigate to the pool page for the project from the home page, by clicking the button on the far right.
- Click the appropriate “Tier” button (Moon Tier, Galaxy Tier, or otherwise).
- Make sure the correct wallet is connected to the correct tier, click the “Redeem” button. This will activate Metamask to initiate a transaction.
- Use Metamask to complete the transaction.