Hello Derived Community, we are happy to announce some big news about Derived!
With every passing day, Derived Finance is growing and expanding its potential. One of the major events in the Derived roadmap is the IDO. We are happy to announce our 2nd IDO platform, which we will be conducting on Poolz (we already announced IDO on OccamRazer).
Poolz is a decentralized cross-chain IDO platform built on top of Web 3.0 infrastructure to assist crypto industry projects in raising funds before listing. The Poolz platform has already integrated with many different blockchains and is in discussions with more than 10 of the biggest blockchain networks.
To provide a clear overview of the Derived-Poolz IDO participation process, we have prepared the full flow from start to finish. Enjoy!
IDO Date: 13th October 2021
You can join the whitelist here
How to Participate in Derived IDO on Poolz:
- Buy at least 250 Poolz to be eligible for participation.
- Go to the Poolz website and connect your wallet.
- Lock your Poolz tokens for the desired period of time.
- Complete whitelist requirement (on BSC only).
- Purchase the IDO token and claim (if they aren’t airdropped).
Step 1: Make sure you have enough Poolz to participate in the IDO
- Lottery System For every 250 $POOLZ you lock on the platform, you will earn one lottery ticket that offers you a chance to win an allocation. So, if you lock 1,000 $POOLZ, you’ll get four lottery tickets. And as you may guess, the more $POOLZ you lock, the more tickets you will win, and the higher will be your probability of winning an allocation through the lottery system.
- Top 100 Poolz holders have guaranteed IDO & PreIDO Allocation; The top 100 will be determined by the LEADERBOARD which will be explained later.
- Poolz Party Guaranteed allocation for 50% of the users not selected for any IDO during an entire month for the last IDO of the month!
*Requirements: Users need to keep the Poolz token locked and apply for each IDO
Step 2: Connect Your Wallet to Poolz Web Page
Go to https://www.poolz.finance/ and connect your crypto wallet to the platform. You can click on “Connect Wallet” at the top right corner of the Poolz page and choose your preferred wallet from the popup menu.
- Metamask wallet is recommended for a seamless experience.
Step 3: Lock Your $POOLZ
Once you’ve connected your wallet, you must lock your $POOLZ tokens. This is a mandatory step for participating in IDOs conducted on Poolz and you can do this on the official Poolz locking page here.
NOTE that:
a) You have the option to customize the locking period of your Poolz tokens, minimum 7 days;
b) After the successful lock, your Poolz tokens will be visible in the “My Tokens” tab and claimable after the locking period has passed;
c) Leaderboard displays and ranks all the wallets that have locked $POOLZ on the platform on a daily basis. If you lock enough $POOLZ to earn a rank within the Top 100, you will get guaranteed allocation in the upcoming IDOs & Pre IDOs, otherwise your IDO allocation will be decided through a lottery system (as long as you locked the minimum requirement of 250 Poolz tokens).
Step 4: Complete Whitelist Requirement
All POOLZ holders have to register on the blockchain for IDO participation, including Top 100!
So, now, every user must sign a transaction using their wallet to confirm they are active and will participate in the IDO by pressing the “Join Whitelist” button, as presented above.
The whitelisting confirmation transaction is on the Binance Smart Chain (regardless the project network), so the fees will be negligible and the whole process will take just a few seconds to finish!
Poolz came up with this strategy as in the past some of the whitelisted participants failed to participate in the IDO despite winning an allocation. This led to IDO allocations being wasted, which would have instead been given to other users.
Step 5: Win Allocation
The IDO Whitelist Winners will be published in Poolz main TG channels approximately 24H before the IDO along with other information such as IDO Purchasing time and Claiming & Listing details.
Allocation Purchasing: In https://www.poolz.finance/lobby you will be able to connect to the IDO pool and as soon as the sale will start, purchase the required allocation
Claiming
If you have won an allocation and participated in the IDO, the IDO tokens can be:
Automatically airdropped into your wallet without you having to claim them. This further simplifies the IDO process on Poolz.
Claimed manually from https://www.poolz.finance/my-tokens “My Tokens” as following example:
Once you’ve followed these steps, you will have completed the IDO process on Poolz, Congratulations!
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