Initial Decentralized Offerings (IDOs) have become popular for blockchain-based startups to raise capital. With the rise of decentralized finance (DeFi), IDOs allow investors to invest in promising blockchain-based projects at an early stage. Here, we will discuss what IDOs are, how they work, and the steps you need to take to participate in one.
What is an IDO?
An IDO is a fundraising method used by blockchain-based startups to raise capital. In an IDO, a new cryptocurrency is issued, and investors can purchase this new token with an existing cryptocurrency, such as Ethereum or Bitcoin.
The IDO process usually involves the creation of a liquidity pool on a decentralized exchange (DEX), such as Uniswap or PancakeSwap, where the new token is traded. Investors who contribute to the liquidity pool receive a portion of the new token as a reward for their investment.
How do IDOs work?
The IDO process usually starts with announcing the new project on social media platforms like Twitter or Telegram. Interested investors can then register on the IDO platform and submit their KYC/AML documents if required.
Once the IDO begins, investors can participate by sending the cryptocurrency they plan to use for the investment to the designated address on the IDO platform. The platform will provide instructions on how to do this, so follow them carefully.
After the IDO is completed, the new token is listed on the DEX, where investors can trade it with other cryptocurrencies. The market’s supply and demand determine the new token’s price.
How to Participate in YouSui IDO
YouSui’s Launchpad is divided into IDO and INO, a launchpad related to tokens and the initial minting of NFTs, respectively.
To participate in the IDO, you need to follow the steps outlined below:
Step 1: Purchase XUI tokens.
Step 2: Deposit your XUI tokens into a staking pool.
There are various options in the staking pool, and an Unstaking Fee may be charged if you fail to complete the lock-up staking period and unlock it.
Step 3: Complete KYC, Be Whitelisted.
Step 4: Buy a ticket and join the IDO.
The purchase method in all tiers is the same as the lottery method, and only those who have purchased tickets can participate.
Tickets that fail token swap through Launchpad can be used in the next Launchpad.
Step 5: Claim your tokens.
If the purchased ticket has successfully participated in Launchpad, you can go to the Claims page to check your Release Schedule and claim.
Conclusion
Participating in an IDO can be a lucrative investment opportunity, but it is crucial to research and understand the risks involved. Follow the steps outlined above to participate, and always invest with caution.
About YouSUI
YouSUI is a launchpad platform born to expand the ecosystem of Sui blockchain, and is a social platform that presents games, NFTs, DeFi and Metaverse projects running on Sui blockchain to the public through IGO and INO. We are collaborating with dozens of game development partners, and it is a platform that collaborates and supports projects beyond Sui blockchain such as Polygon, Binance, Klaytn, Solana and Ethereum to enter the Gatechain ecosystem. The XUI token used on the platform is a utility token used on the Launchpad platform.
