IDO Details for ShoeFy — DeFi + NFT Passive Income

4 min readOct 11, 2021

We are excited to reveal all the details of the much-anticipated IDO for ShoeFy on Tuesday, 12 October.

The DeFi sector of crypto is growing at two times the rate of the overall crypto market as the utility of NFTs in the metaverse also rapidly increases.

ShoeFy is unlocking more utility than ever before with a platform that combines both fungible $SHOE tokens (FTs) and non-fungible tokens (sNFTs) to take both DeFi and NFT utility to the next level, all in one place.

Several projects have figured out the pairing advantages of staking NFTs in a pool to earn fungible tokens or regular cryptocurrency tokens, but ShoeFy is the first to introduce the NFT/FT pair for liquidity providing, bringing liquidity to a previously illiquid market.

Read about $SHOE utility here

Read about sNFT utility here

ShoeFy token holders will be able to stake sNFTs to earn $SHOE, and also stake $SHOE to earn $SHOE. All in all the platform offers NFT monetization, passive income, enhanced NFT liquidity, a superior UX, and it’s built on Layer 2 meaning low transaction fees for users.

And there two more exciting features that make ShoeFy even more relevant: ShoeVerse - in which your wearable digital shoes can participate in shoe contests, shoe battles, shoe fashion shows, and play-to-earn games - and TribeHouse, where sNFTs get a chance to bid against rare shoes such as Genghis Khan, Leonardo Da Vinci, and Queen Victoria.

ShoeFy has raised funds from a string of reputable crypto investors and partners including Catena, GAINS Associates, AU21, Moonwhale, Dutch Crypto Investors, and WealthUnion. We are delighted to welcome ShoeFy to the MultiPad family!

IDO Details

Date: Tuesday, 12 October
Platform: https://multipad.co/launch-app
Wallet: Metamask
Network: Binance Smart Chain
Funding: BNB (pegged 1–2 hours before IDO and will be announced)

Hardcap: $100,000
Whitelist: TBA
Price: $0.40 per SHOE

Round 1: 08:30–11:30 UTC
Round 2: 12:00–13:00 UTC
Round 3: 13:30–14:30 UTC

Round 1 Max Allocation: $1,000 (Holders | Whitelist | Guaranteed)
Round 2 Max Allocation: $1,000 (Holders | FCFS)
Round 3 Max Allocation: $1,000 (Open | FCFS)
Minimum allocation for all rounds is $100

Vesting: 50% unlocked 1 hour after listing and 50% after 1 month

Listing Details

Listing Date: Tuesday, 19 October, 12:00 UTC (Uniswap + Gate)
Listing Price: $0.50
Claiming: Tuesday, 19 October, 13:00 UTC (MultiPad, Ethereum network)

Round 1 Whitelist Lottery

Snapshots are being taken between 9 October 12:00 UTC and 11 October 12:00 UTC to calculate the lottery winners.

A minimum of 10,000 MPAD tokens are required to be held to qualify with at least 1 lottery ticket. Every additional 10,000 MPAD held earns another lottery ticket.

More tokens can be added to your wallet during the holding period but if at any time the number of tokens drops below 10,000 MPAD, that wallet will be disqualified. An average number of MPAD per wallet will be calculated.

Guaranteed Round 1 allocation will only be available for holders who have held MPAD continuously from the first to last snapshot.

Whitelist results will be announced on 11 October.

Round 2 Update

In order to give a chance to our new community members, we’ve decided to make a small change for Round 2.

To enable new MPAD holders to participate, Round 2 will be FCFS for all holders who keep 10K+ MPAD in their wallets during the last snapshot on 11 October 12:00 UTC even if they buy after the first snapshot.

$MPAD Allocation Sizes

Due to the smaller raise than previous IDOs, we have updated our guaranteed allocations for the ShoeFy IDO in order to benefit all our loyal MPAD holders.

Round 1:

- 200K+ MPAD holders (Elites) receive 2 guaranteed allocations
- 100K+ MPAD holders receive 1 guaranteed allocation (whitelist form mandatory)
- 10K+ MPAD holders enter lottery at 1 ticket per 10K MPAD (whitelist form mandatory)

Round 2:

- FCFS only open to 10K+ MPAD holders

Round 3:

- FCFS open to all for any remaining tokens

In addition to the above, the top 5 liquidity providers will also receive one guaranteed allocation as part of the Elite tier.

About ShoeFy

ShoeFy is an innovative decentralized platform offering a contemporary way of repositioning Non-Fungible Tokens (NFTs) and Fungible Tokens (FTs) in an unprecedented ecosystem. Staking $SHOE and sNFTs earns profit-sharing from a portion of transaction fees plus NFT minting fees to generate passive income, and more.

Website | Twitter | Telegram | Announcements | Medium

About MultiPad

MultiPad is fueling the cross-chain future through complex smart contract systems that allow any project to launch on major chains including BSC, Polygon, Avalanche, Solana, and Cardano. Community-governed and decentralized, MultiPad enables startup partners to raise funds and helps with marketing, go-to-market strategies, and technical advice.