How to participate in IDOs on MaticLaunch?
This is the moment we all have been waiting for. MaticLaunch team has made a commitment from the inception to build the fundraising platform for the community and here we are, fulfilling it along with a promising gaming project as the first IDO to be hosted on MaticLaunch.
Today, we are here to answer all of your questions regarding token sale participation on MaticLaunch. All of the IDOs will be followed by these simple rules. We have written the entire process of participating in IDOs organized by MaticLaunch.
How to participate in MaticLaunch IDOs?
Step 1: Keep yourself updated with upcoming IDOs
The easiest and quickest way to know about upcoming IDOs on MaticLaunch is its social media handles. All of the exciting IDOs will be shared on Twitter and Telegram channels. Therefore, make sure to follow them and engage.
In order to dig more about upcoming projects for possible IDOs on MaticLaunch, keep your eyes wide open for the “Pools” section of the official website. You will find everything from project details, IDO time to pool size and vesting details.
Step 2: Understand the nature of upcoming IDOs
We will be bringing projects for possible IDOs in two ways.
Community-governed: From the beginning, MaticLaunch aimed to be the community-governed fundraising platform. In this case, projects will have to go through community voting and if it receives more “Yes” votes, it will then move to investment pools.
Each $MTCL staker will be able to vote and invest in approved IDOs. IDO approval through community governance happens through the following formula:
Project Approval = YesVote (%) > NoVote(%)
— The number of MTCL tokens utilized to cast YesVote must be greater or equal to x% of MTCL in circulation where x is subjected to change as per the token release.
Qualified IDOs: These will be the projects that are brought by the MaticLaunch team. IDOs under this category will be vetted strictly based on tokenomics, team, audits and various factors. To add one more layer and avoid rug pools, MaticLaunch team will be exclusively conducting AML/KYC of two of the founders. $MTCL stakers will directly be able to invest in such IDOs.
Regardless of the nature of pools, the MaticLaunch team makes sure that projects provide sustainable liquidity to DEXes and lock LP tokens for a considerable period of time. It can be automated liquidity provision for voting-based pools or manual provision in the case of qualified IDOs.
Step 3: Stake $MTCL for participating in voting/IDOs
MTCL is a governance and utility token and everything begins with the same. Once you own some MTCL tokens, you will need to stake them in our staking pools. A staker can participate in the voting process or IDOs based on the number of tokens s/he has staked. The minimum number of tokens staked to become eligible for IDOs vary based on time.
Step 4: Check your allocation and participate in IDOs
Having successfully staked MTCL tokens in respective staking pools, you will become eligible for IDO participation. 24 hours prior to IDO, multiple snapshots from the staking pool will be taken for the determination of allocation. Here is the formula that decides your allocation of IDO tokens.
Your allocation = (Your Staked MTCL * Multiplier / Total MTCL Staked) * Total Allocated IDO Tokens
This will be a linear allocation formula integrated with minimum MTCL staking where maximum weightage will be counted after taking staking snapshots. This is particularly followed to accommodate every MTCL staker in a satisfactory allocation provision manner.
On the other hand, a multiplier ensures pool fulfillment and benefits MTCL stakers. It will be implemented as per the necessity to avoid the following possible circumstances:
- Prevent very small allocation being allocated to MTCL stakers
- Minimize the risk of pools being inadequately filled due to disinterested stakers who are provided actual IDO allocation
For example, if a multiplier is set 2, provided allocation will behave like 2x of the actual allocation, converting pool with FCFS methodology. The multiplier will only be employed in the case of the above-mentioned circumstances. In case of not reaching the soft cap, investors will be able to claim their investment through the platform itself.
Step 5: Participate in IDO pools with Polygon-USDT
The calculated allocation will be directly incorporated into the IDO pool page. After connecting the Metamask wallet that you had utilized for staking MTCL tokens, you will be able to see your allocation before the IDO event.
Once you have USDT ready in your wallet, you will be able to invest your maximum allocated USDT and secure IDO tokens. If the IDO pool doesn’t get filled, which will be rare though, it will be opened for everyone on a first-come-first-serve basis.
Step 6: Claim secured IDO allocation after pool conclusion
IDO pools deployed on MaticLaunch are very likely to be completed within 24 hours. Now, on the day of the IDO token exchange listing event, the claim button will be made functional on MaticLaunch. Based on the relevant vesting schedule, you will be able to claim IDO tokens to your Metamask wallet directly.
Followed by a vesting schedule, investors will be able to claim the remaining tokens on the next release date. For example, if an IDO has 50% tokens unlocked on listing and the remaining 50% tokens vesting linearly for 5 months, investors will be able to claim 10% of tokens each month.
Frequently Asked Questions (FAQs)
1. What is voting and how it is conducted?
MaticLaunch is a community-governed fundraising platform where the community (MTCL stakers) vet upcoming projects by voting mechanism. It will be done through an entirely separate user interface where you can either reject or approve (Yes or No) projects that are being vetted.
2. Where can I stake MTCL tokens to participate in IDOs?
Staking pools will be deployed from the first IDOs where you will be able to stake MTCL tokens. However, there will be a minimum duration your MTCLs will be locked for. i.e, 7 days.
3. Are there any limits on staking MTCL for IDOs?
Yes, 500 MTCL is the minimum requirement for participating in IDOs. This is also subject to vary according to affordability. There will not be a maximum limit if we see individuals are staking 10x of the average staking amount, we’ll impose a max cap on allocation calculation to neutralize them.
4. What is a qualified IDO? Can I suggest projects?
Qualified IDOs are the ones that are vetted MaticLaunch team after due diligence. Such projects will not have to go through community governance. Yes, if you are a co/founder, you can directly dm @wolfster on Telegram.
5. How can I calculate my allocation if I stake 5000 MTCL?
Well, your allocation is entirely dependent on the number of tokens the staking pool accumulates. You can refer calculation formula provided above.