The IDO process
The basic idea behind how an IDO works is that teams apply for an IDO on our apply page, our team looks over their application and project, and once we did our background check and if the project is accepted, we announce their IDO details and explain their project.
The IDO may have two or three rounds of fundraising. The first round is the staker round, in which only people who have reached an ErgoPad staking tier can take part. The second round is the seed round, which is open to the public, but people who have reached a staking tier get early access. The third round is the strategic round, which is also open to the public on a first-come, first-served basis.
The difference between these rounds is that in the staker rounds, stakers are guaranteed an allocation. In the seed and strategic rounds, on the other hand, allocation is based on who signs up first. This is to allow anyone in the public to have a chance to contribute to a project, without requiring everyone to have ErgoPad tokens.
In short, the IDO process can be summarized like this:
- 1.IDO is announced. Team shares whitepaper and tokenomics
- 2.Roadmap is released, which includes the IDO details:
- Whitelist signup dates
- Contribution round dates
- IDO date for DEX liquidity
- 5.DEX liquidity added and token can be traded on the open market
- 6.DAO treasury utilized for development, and the community can now vote on how to spend the funds
We go into more details in the following articles which explain how you can obtain ErgoPad tokens, stake them, signup for whitelists, and contribute to DAOs before the IDO launch. Please read on...