Nov 9, 2021
Guide: How To Participate In the IDOs On BSCPad
BSCPad is the first decentralized IDO platform for the Binance Smart Chain (BSC) network. The platform empowers investors of all experience levels to access some of the most sought after projects building on BSC.
To help make interacting with the platform as intuitive as possible, we’ve created a simple step-by-step guide to interacting with the platform and participating in IDOs.
How to obtain your tier and participate in an IDO
BSCPad is designed to minimize barriers to entry and reward long-term participants through carefully formulated staking rewards.
The participation system comprises two rounds: round 1 is where both lottery and guaranteed tiers can participate, whereas round 2 is where any leftover allocations from the first round get distributed among the guaranteed tier holders on a first-come-first-serve basis.
The lottery system enables anybody with at least 1,000 $BSCPAD staked to get an opportunity to win a slot in the IDO. 10,000 $BSCPAD tokens are required to get into the lowest guaranteed tier, and the more you stake, the higher your allocation will be.
A pool weight mechanism determines the individual allocation amounts for guaranteed tier holders. For a detailed explanation of the tier system, check out our comprehensive guide on the subject.
Now that you’re up-to-date on the tier system, it’s time to take a look at the eligibility criteria. This process can be summed up in three simple steps:
- Decide on a tier and buy your $BSCPAD tokens. To do this, visit BSCPad and use the official link for PancakeSwap. Please note: to qualify for the lowest lottery tier, a minimum of 1,000 $BSCPAD tokens is required, whereas a minimum of 10,000 $BSCPAD tokens is required for the guaranteed tier.
- Pass the one-time KYC process. KYC verified users see a green KYC button on the BSCPad website and will have received an approval email from our KYC partner KYCAID. Please note: you must complete KYC at least 24 hours before the IDO and stake a minimum of 1,000 or 10,000 $BSCPAD tokens for the lottery and the guaranteed tiers, respectively. Additional benefits apply to those that stake more than the minimum for higher tiers.
- Stake your $BSCPAD tokens at least 3 hours before the IDO. To do this, visit the BSCPad staking platform and complete the necessary steps.
Quick recap: To participate in BSCPad IDOs, follow the three simple steps outlined above: Get your BSCPad, complete KYC, and stake. That’s it — you can now take part in our stacked line-up of upcoming IDOs!
