Initial Gaming Offering: New mode combining GameFi and IDO
The gamified launchpad for startups is named Initial Gaming Offering (IGO) in CheersLand, one of the important features of CheersLand GameFi Universe.
Startups can submit project information to apply for IGO. In the early stage, the CheersLand team will serve as the main jury to evaluate the projects and decide whether to list their IGOs.
CheersLand has always put the interests of users first, so we have signed refundable terms with all listed IGO project clients:
- CheersLand requires the upcoming IGO project team to allow investors who have’t claimed tokens on CheersLand to initiate refund applications, after the tokens listed on CEX or DEX within 24 hours after TGE.
- On one hand, the investors are able to make decisions based on the token performance after listing on DEX/CEX. On the other hand, the projects can receive tremendous amounts of support and engagement from CheersLand.
- The refund process will be executed via a smart contract in the future, and those investors who fail to make a decision within the first 24 hours will not be eligible for a refund. We believe the refundable IDO will be able to protect investors to the greatest extent considering the current market conditions.
In late 2021, the Community Vault will be established and CHEERS holders will be able to decide whether to list the IGO in the application through governance voting.
In addition to raising capitals for startups through IGO, CheersLand can also provide them with advertising and promotion services in the game.
The tokens of startups will also be listed on Multi-asset Staking Platform and gamers will be allowed to stake the tokens to earn Health Points (HPs).
All listed startups will be required to pay marketing fees to CheersLand, which will become part of revenue streams of the ecosystem.
The allocations of the IGO projects will be conditionally distributed to whitelisted users. Part of the whitelist will be allocated to eligible tokens stakers like users who stake at least 10,000 CHEERS in the pool.
The other part of the whitelist is allocated to the gamers on Ranking List. They have active engagement and experience as GameFi users. Their participation will be helpful to the establishment of the project at early stage.
Now CheersLand has launched the first classic game, Crypto Pirates. Click here and use your BSC wallet to play and earn! Let’s go!
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