Guide: How To Participate & Get Ready For the IDOs On VelasPad
VelasPad ($VLXPAD) is the only launchpad and incubator shaped to fund and accelerate promising projects building on the Velas ecosystem. This article will have two parts. Part one will cover the eligibility to participate in the IDOs, and part two will go over how to get setup on the Velas network, and more specifically how to add USDT to the network to be able to participate in the sale.
#PART I: VelasPad IDO Eligibility Criteria
A guaranteed tier based system with pool weight was designed such that all #VLXPad token holders have equal chances to participate in future IDOs. Out of the three tiers, only Taurus and Orion need to whitelist to get their guaranteed allocations.
While anybody can participate, certain criteria must be met to be eligible to participate in IDOs. These are as follows:
- Decide on a tier and buy the $VLXPad tokens. To do this, visit VelasPad and use the official links for Uniswap and Pancakeswap. Please note: a minimum of 20,000 tokens is required to qualify for the lowest tier.
- Stake your $VLXPad tokens at least 3 hours before the IDO. To do this, visit the VelasPad staking platform. For a guide to staking $VLXPad tokens click here. Please note: $VLXPad can be staked only on the Velas chain.
- Pass the one-time KYC process. KYC verified users will see a green KYC button on the VelasPad website, and will have received an approval email from KYCAID. Please note: all tiers are required to KYC at least 24 hours before the IDO, and stake a minimum of 20,000 $VLXPad tokens.
Quick recap. To participate in the VelasPad IDOs follow the 3 simple steps of $VLXPad tokens’ buying, staking and KYC (for Taurus and Orion tiers whitelisting also) and that’s it — you’re good to go.
#PART II: How To Transfer USDT On the Velas Network & Participate In the VelasPad IDOs
To participate in the IDO’s on VelasPad VRC20-$BUSD is required, and $VLX to pay for the gas fees. A guide on how to transfer USDT from Binance Smart Chain (BSC) on the Velas Network is found below.
Before starting, please ensure that the Velas Network is already added to your MetaMask wallet. Details on how to do this can be found here. Then, add USDT on the Velas Network using its custom token address: 0x01445C31581c354b7338AC35693AB2001B50b9aE. That’s it, you are now ready to start the transfer process.
Please note: If you’re using MetaMask on your mobile device then you will need to open the ‘Swapz’ site through the in-app browser.
Step 1: Visit https://cross.swapz.app/
Step 2 & 3: Connect to your wallet by clicking the top right corner as shown. In this example, from the dropdown options menu we’ll connect to MetaMask.
Step 4 & 5: Select the account you are participating on VelasPad, and click ‘Next’.
Step 6: Connect your wallet to the Swaps app.
Step 7 & 8: In this example, we want to bridge from Binance Smart Chain to the Velas Network as shown.
Step 9: Click ‘Swap’ to set the amount of VRC20-$BUSD you want to swap to USDT (VRC20).
Step 10 & 11: Type the amount of BUSD you wish to swap (this has to be equal to or less than whats in your wallet) and then click the ‘Swap’ button.
Step 12: To start the swapping process, confirm the transactions. Note, you'll need BNB to pay for the gas fees.
Step 13: Once confirmed, the swap process will be initiated. It is an automated process from here onwards, and you will need to wait until the transactions complete.
Once the transfer is complete you will see your balance display the swapped amount. You can now switch to the Velas Network and participate in the IDO.
