Vote for New Projects and Be the First to Receive Tokens Within WhiteBIT Launchpad
- WhiteBIT Launchpad is a platform that offers a unique opportunity to support promising crypto projects in the early stages. It also grants exclusive access to project tokens for the WhiteBIT user community before they become available on the market.
- When a new project garners sufficient votes, it gets listed on the exchange. Launchpad participants are granted early access to project tokens before their sale.
- To partake in WhiteBIT Launchpad, keeping at least 200 WhiteBIT Coin (WBT) in Holding is necessary.
- The token distribution among Launchpad participants is carried out according to vesting principle, or in stages. Distribution phases will differ for different projects.
- The Launchpad mechanism empowers every member of the WhiteBIT community to participate in project selection because You set the level!
We are delighted to announce the start of the WhiteBIT Launchpad! This platform enables you to explore new crypto projects, cast your votes for their listing on WhiteBIT, and receive new tokens at a fixed, discounted price before their official entry into the market.
Launchpad is equivalent to Initial Public Offerings (IPOs) and Initial Coin Offerings (ICOs). As part of Launchpad, the exchange meticulously evaluates projects seeking to introduce their assets to the market. Through thorough compliance checks and informative disclosures, users can vote for their preferred projects to be listed on the exchange. This mechanism allows both seasoned experts and newcomers to participate in shaping the asset selection on the platform.
Upon garnering sufficient votes, the project is added to the exchange. As a result, Launchpad participants gain exclusive access to the project’s new tokens before they become available to the broader public. It ensures that Launchpad participants receive early access to project tokens before their official listing and trading on the exchange.
How does WhiteBIT Launchpad work?
- The exchange initiates the process by accepting projects’ requests for participation in the voting.
- Selected projects undergo a meticulous evaluation by the exchange to ensure compliance with security standards and other crucial requirements.
- Projects that successfully pass the exchange’s evaluation are presented to users on the exchange for review.
- To explore the projects and vote, visit the WhiteBIT Launchpad page. You will find comprehensive information about each project’s main activities and official resources there.
- The exchange commences the voting phase among Launchpad participants for specific projects, notifying the community of the minimum number of votes required for listing. You can also directly vote for your preferred project on the WhiteBIT Launchpad page by clicking the “Vote” button.
- Once a project receives enough votes, the voting concludes, and tokens are distributed to participants who voted.
- The token distribution among Launchpad participants is carried out according to the vesting principle or in stages. Distribution phases will differ for different projects.
- The project’s asset is then added to the exchange, officially entering the market.
- If a project fails to receive enough votes, it will not be added to the exchange, and the funds used for voting by participants will be returned to their Main balances.
How to participate in WhiteBIT Launchpad?
Selecting and voting for your preferred project on WhiteBIT Launchpad is straightforward. Let’s examine the requirements for potential participants and the mechanics of participation.
Users must keep at least 200 WhiteBIT Coins (WBT) in their Holding balances to vote for selected projects. The allocated amount*, denominated in USDT equivalent, determines the user’s voting power for the chosen project.
Holding refers to a dedicated balance on the exchange where WBTs are locked. This grants users various benefits, including participation in Launchpad.
For instance, let’s consider a user whose Holding balance corresponds to an allocation of 200 USDT. It means they can allocate their USDT funds to the proposed projects. When users visit the Launchpad page, they can select their preferred project and click the “Vote” button. Their Holding balance enables them to utilize a 200 USDT allocation for voting purposes.
If the project successfully accumulates the required amount of USDT or more, a percentage of its tokens will be credited to the user based on their contribution ratio to the total invested funds. Consequently, only the USDT equivalent of the newly acquired tokens will be deducted from the user’s balance. Any remaining portion of the allocation is returned to their balance.
Please note that the mechanics of participation may vary based on the specific project and its associated rules.
*Note: “Allocation” refers to the amount of USDT equivalent that users can utilize for voting.
What if the project needs more votes?
Suppose a project does not receive the required number of votes. In that case, it will not be added to the exchange, and users who participated in the voting process will have their funds fully refunded.
Conversely, suppose the project garners more votes than necessary. In that case, all participants will receive a reduced quantity of project tokens based on the ratio of their invested USDT to the total pool. Nevertheless, the price of the project tokens to USDT will remain unaffected. Consequently, all participants will be able to acquire tokens of the new project, should they desire to do so.
What is allocation?
*Allocation refers to the opportunity to invest a designated amount of USDT in a specific project. The allocation size depends on your level of WBT Holding and the specific project itself. Please note that conditions may vary, so reviewing the project’s description and requirements is crucial.
It is essential to understand that the allocation represents the maximum amount of USDT a user can contribute when voting for a project. The calculation of the amount of USDT with which a user can vote for a project depends on the WBT Holding level. There are currently 11 levels of WBT Holding, and to participate in the Launchpad, a participant must hold at least 200 WBT, corresponding to the 2nd level of Holding. If a user has, for example, 10 000 WBT in Holding, he will have the 4th Holding level, and, accordingly, a larger amount of allocation for voting.
For better understanding, see the table with Scamfari Launchpad example:
|WBT Holding Level||Min USDT amount||Max USDT amount||Max amount in token equivalent|
|200 WBT||50 USDT||2500 USDT||25 000 000|
|4000||50 USDT||10 000 USDT||100 000 000|
|10 000 WBT||50 USDT||15 000 USDT||150 000 000|
|16 000 WBT||50 USDT||20 000 USDT||200 000 000|
|30 000 WBT||50 USDT||25 000 USDT||250 000 000|
|60 000 WBT||50 USDT||30 000 USDT||300 000 000|
|100 000 WBT||50 USDT||30 000 USDT||300 000 000|
|160 000 WBT||50 USDT||30 000 USDT||300 000 000|
|2 000 000 WBT||50 USDT||30 000 USDT||300 000 000|
|6 000 000 WBT||50 USDT||30 000 USDT||300 000 000|
Note that the list in this table begins with the second level of Holding because the second Holding level is the minimum prerequisite for participating in Launchpad. The minimum USDT amount means the smallest amount of USDT that a Launchpad participant can invest in voting for a project. The maximum amount represents the upper limit of USDT available for voting purposes. For example, if you have the 4th Holding level, you can vote either 50 USDT or any amount up to 15 000 USDT. The maximum amount in token equivalent is the highest amount of new tokens you can get, depending on your Holding level.
Launchpad participants vote for projects with their USDT on their Main balances. The allocation will be calculated independently for each project. That is, if two projects are active at the same time, the user will be able to participate in each of them. Allocation sizes for different projects may also differ depending on the required number of votes for project listing.
To participate in the Launchpad, you must have a sufficient amount of USDT in your Main Balance. If you are not interested in the project or do not have the required amount of funds, no penalties are expected. Users can vote only for those projects that interest them. So we will be able to select the following projects more thoroughly.
What is vesting, and how are new tokens distributed to Launchpad participants?
Let’s assume that to list the asset on the exchange, the amount of funds raised through voting on the Launchpad must reach a minimum value of 10 000 USDT. Launchpad participants will be able to share the total supply of 25 000 project tokens in case of successful voting. To indicate the asset’s name, we suggest using the conventional ticker “TOK” in the text.
Let’s go further. From the available amount of USDT allocation that you can use for voting, you invest 50 USDT in the project. As a result of the vote, the project collected 15 000 USDT. The token distribution price is 0.4 USDT per 1 TOK. Let’s calculate: divide the 50 USDT you invested by the total amount of votes collected, that is 15 000 USDT, and multiply by 100:
50 USDT / 15 000 USDT * 100 ≈ 0.33%
Next, we divide the total volume of the project’s token supply by 100 and multiply by 0.33% — the percentage ratio of your contribution to the total amount of collected funds:
25 000 TOK / 100 * 0.33 = 82.5 TOK
From this formula, 82.5 is the number of new project tokens that you will receive for participating in the Launchpad of this project. What about your USDT? In this case, you will also receive a percentage of “unused” USDT back to your Main balance. Multiply the amount of your TOK by the distribution price. You will get the amount of USDT that you used for voting:
82.5 TOK * 0.4 USDT = 33 USDT
Next, we will subtract the actual amount from the total investment amount:
50 USDT – 33.3 USDT = 17 USDT
In the end, you have two amounts, 82.5 TOK and 17 USDT “return” from the initial investment. These funds will be credited to you according to the vesting principle.
Vesting is a system of gradual distribution of tokens among Launchpad participants. This means that in case of a successful voting, the user will not receive all tokens in one go, but only a certain percentage within the initial distribution. The rest of the tokens will be credited to the user in equal proportions during the period established by the project. All information about the vesting periods and the accrual percentage will be available on the project page on Launchpad.
Consider the example*:
Upon successful voting, a user will immediately receive an initial distribution of 20% of the total tokens he is eligible for. The remaining 80% of the total will be credited to them gradually. For instance, six months after the initial distribution, it will be disbursed over eight months (10% each month).
That is, the distribution of tokens in vesting can be compared to the unlocking of WBT. These are monthly accruals of an even number of tokens that will prevent the price of a new asset new from “sinking”.
*Please note that all indicators in this article are examples. The distribution periods and percentages of accruals will differ for each project. All information will be available on the WhiteBIT Launchpad project page.
Please note that between the initial distribution of tokens and the full listing of the trading pair on the WhiteBIT exchange, on the listing day, it is possible to conduct partial trading on the pair. This means that any exchange user will be able to place buy Limit orders. All other types of orders will be unavailable until access to trading is completely open. The news about trade availability and relevant notifications will be announced in our Telegram channel.
Benefits of WhiteBIT Launchpad
WhiteBIT Launchpad offers numerous advantages for experienced professionals and industry newcomers. Here are the key benefits:
- Strict project evaluation: projects eligible for voting undergo thorough scrutiny by WhiteBIT, ensuring high quality and reliability.
- Early access to new projects: Launchpad participants gain exclusive access to information about new crypto projects and their assets before they are introduced to the broader market, providing an opportunity to stay ahead of the curve.
- Community-driven selection: the WhiteBIT community plays a pivotal role in selecting projects for listing on the exchange, empowering users to directly impact the platform’s offerings.
- Fixed price allocation: if a project receives sufficient votes, each participant in the voting process is allocated their share of the new project’s assets at a fixed price, ensuring fairness and transparency.
Furthermore, holding WhiteBIT Coin (WBT) brings additional advantages:
- Up to 100% discount on maker’s fees;
- Free withdrawals of ETH and ERC20 tokens;
- Increased referral program rates;
- Free AML checks;
- Numerous benefits from using our blockchain, WB Network;
WhiteBIT Launchpad allows you to be at the forefront of accessing new assets by personally selecting them. Moreover, it provides full access to the benefits of WBT storage, unlocking the complete range of possibilities within the WhiteBIT ecosystem.