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For those who are unfamiliar, ‘IDO’ stands for ‘Initial DEX Offering’ and is commonly regarded as an opportunity for listed projects to generate funding by issuing their respective project token. The IDO allows community members to potentially make a fortune by investing in an early stage that they have been watching and would like to support for a long time.
ArthSwap IDO Launchpad requires projects to access the platform with a fixed-priced project token. As of 28th, June 2022, $ARSW's listing date, two projects have held the IDO events on ArthSwap IDO Launchpad, with one project being ArthSwap itself and the other project Starlay Finance. Both IDO events adopted the first-come-first-serve mechanism of funding.
On 16th, April 2022, ArthSwap was the first IDO on Launchpad. It was a carnival for ArthSwap supporters because one million $ARSW was sold out at a price of $0.5 in merely two minutes, raised $500K for the protocol development.
ArthSwap IDO was then followed by Starlay Finance IDO on 28th, April 2022, which adopted the same first-come-first-served mode. $LAY, the project token of Starlay Finance, was sold out at a price of $0.15 in 5 minutes. This IDO event raised $750K for the Starlay team.
Even though the two IDO events were huge successes. ArthSwap listened to the feedback from the community due to the first-come-first-serve IDO mode. Many users failed to successfully purchase $ARSW & $LAY because they were both sold out in minutes.
On 2nd, May 2022, ArthSwap team made the announcement that a new Lock & Lottery IDO mode will be added for future IDO events held on ArthSwap IDO Launchpad so that users will have much fairer chances to purchase their desired project tokens on ArthSwap IDO Launchpad. The steps to participate in future IDO events are therefore as follows:
- 1.By staking $ARSW tokens, users will have an equal chance of participating in a lottery draw.
- 2.Those who are luckily drawn will be given the opportunity to purchase before the public event.