In this article, we are going to explain the Format of our Launchpad while also covering the most important questions about it, so that you are ready to participate in every single IDO we have coming for you!
TABLE OF CONTENTS
1. How does the IF Launchpad format work?
Users can KYC anytime during the entire IDO timeline, but will not be able to stake until their KYC is completed. This process requires that you hold at least 25 IF in your wallet.
NOTE: If you already passed KYC on one wallet, you can use the SAME wallet on a future IDO without having to pass KYC again.
First, you need to stake your IDIA Token to determine how much Allocation of Token being sold you get to buy. We will monitor your IDIA Stake balance over a certain amount of days, the number changes according to the project.
The more & longer you stake, the more allocation you get, as explained below in article 2.
Once the IDIA Token staking period is over, the smart contract will be calculating each user’s token allocation for a given amount of time, varying with each project.
Once the Allocation calculation period is over, you will be able to purchase your Tokens using BUSD. This phase will last a limited amount of time so that people from different time zones do not need to stay up late, but do remember to purchase within the window!
Please be aware! If you do not purchase your Allocation during the Purchase Phase, you automatically forfeit your allocation!
Once the Purchase period has finished and the pool has been created, you can claim the tokens and proceed to transfer them to your wallet. The Claim phase has no end, you can Claim your tokens whenever you want
2. How is Allocation calculated?
So, 3 components are used in our Allocation Calculation:
User Weight = how much you stake + how long you stake -> The amount increases the value of your weight per minute of staking
Total Weight = Everyone’s summed Weight value
Sale Amount = How many tokens are we selling
So the Whole Formula is:
Allocation = (User Weight / Total Weight) * Sale Amount
So, in other words:
Say you stake 1 IDIA- per block (~3 seconds) your User Weight is being increased by 10.
Now, if you stake 2 IDIA - per block your User Weight is being increased by 20.
So, let's say you stake 1 IDIA for 10 blocks + 2 IDIA for 10 blocks, so, at Block 20 your User Weight will be 100 (10 blocks * 10 value) + 200 (10blocks * 20 value) = 300 User Weight
So, the more you stake AND the longer you stake will increase your User Weight.
2. Will IDIA Tokens in my Wallet or IDIA-LP Tokens count for my allocation calculation?
No, only IDIA Tokens manually staked during the Subscription Stage will count towards your Allocation.
3. When do I need to Stake my IDIA Token?
You only need to stake your IF Tokens during the Subscription Stage.
As long as you manage to pass KYC and stake before the staking period ends, your staking is calculated.
Naturally, as explained on Point 2, the longer you stake, the more allocation you get.
4. What does the maximum allocation / hard-cap per user mean? How much is it?
The hard cap means the maximum amount a Token (and equivalent USD amount) allocation each user can receive.
It does NOT mean the maximum amount of Tokens that you can stake.
The maximum allocation per user can change between each project.
5. Can I unstake my IDIA Token during the Subscription Stage?
Yes, you can unstake your IDIA Token at any stage of the sale, however, if you do so during the Subscription Stage your Allocation weight will be affected negatively, as explained in Point 2.
To unstake without affecting your allocation, kindly wait for the Allocation Phase to finish so that the contract finishes calculating your amount.
6. I'm not whitelisted, can I participate in the Token Sale?
Yes, everyone can participate in the Token Sale by staking their IDIA Tokens. Whitelisted users just have the luck of having a guaranteed amount of Tokens already allocated to them.
7. I am a winner of the whitelist, can I also stake IDIA for even more Allocation?
Yes, besides your guaranteed amount from the Whitelist, you can also stake your IDIA tokens and get more allocation.
8. Is there a minimum of IDIA that I need to stake?
No minimum IDIA is required for staking.
However, the allocation is proportional to each user's staking amount, the more time and amount that you stake, the more allocation you get, as explained in Point 2.
9. I see many different Launchpad Pools (Sale/IDO Cards), why? What do they mean?
We have different Launchpad Pools so we can serve different userbase and personalize our service to different users.
Currently, there are 4 types of Launchpad Pools, 2 public and open to everyone & 2 only accessible to Marketing Campaign winners.
- Standard Sale:
In this pool there is a Staking Limit in order to ensure everyone gets their share of the pie and that no whale can come and get it all. The exact amount of how much you can stake is decided on each IDO.
No stake limit — Users can stake any amount of IDIA at any one time as consideration for allocation. There's no Roof, so, you can go ahead and stake as much IDIA as you want, but, beware that others will do the same.
Marketing Campaigns Pools
As a marketing campaign whitelist allocation winner, it is possible that in addition to the 2 publics sale cards, you will see additional sale cards corresponding to the $50 or $100 whitelist campaigns that you participated in and won.
For all other non-winners (i.e. did not participate or participated and did not win), you should only see the Standard Sale and the Unlimited Sale cards.
10. Why are the events on the IDOs listed as Estimated Time? Why don't you have an Exact Timeline?
TLDR: Because this is the nature of Blockchain & and there's no way of EXACTLY predicting the start on "Human Time", only through Block Time.
Impossible Finance makes every effort to ensure that the actual time follows the above-planned schedules. However, there is a high chance that there is a discrepancy between these 2 times (Block Time & Human Time) due to the very nature of blockchains.
In smart contracts, each event (e.g. staking) is triggered when a specific block is reached, and with block times entirely dependent on network/infrastructure conditions (some block times can be longer than 30% than the average), it can be challenging to predict the block that corresponds to the exact planned time.
When the event is further out into the future, it becomes even harder to predict the exact block due to the larger number of unpredictable blocks between now and then. An interesting side effect of this is that the nearer we get to the event, the more certain of the event time we become. And so, the Impossible team has a dynamic frontend that updates the estimated time that corresponds to the specific event block.
Again, while the team makes the best attempt to make each event happen at the said planned schedule, the reality is still likely to be different. As such, we make our sub-features like calendar reminders scheduled with a 95% confidence that they are early with 2 disclaimers: (i) there is a small chance that the event happens before the reminder, (ii) we ask that you check the main product page for a more accurate event time closer to the planned time.