How to Take Part in an IDO with Enjinstarter
Summary:
There are five simple steps to get allocation for IDOs on Enjinstarter.
- Step 1: Have your wallet KYC-approved.
- Step 2: Second, buy and stake WEJS tokens.
- STEP 3: You MUST stake your tokens in the different pools.
- STEP 4: After staking, go to launchpad and apply for the whitelist.
- STEP 5: Once whitelisted, you can now purchase tokens for the IDOs.
Below is a more comprehensive guide on how you can take part in our IDOs.
STEP 1 — Get your wallet KYC- Approved
- Get your wallet KYC-Approved on Blockpass (do this only once)
- It takes 24–48 hours to process your application. Wait for the email from Blockpass.
- If you encounter any issues, you may reach out to @EJS_KYC_support on Telegram or email helpdesk@enjinstarter.com
STEP 2 — BUY WEJS (MORE WEJS, MORE ALLOCATION)
Table 1. A Complete Guide to Enjinstarter’s Allocation Pools
QUESTION: Should I split my WEJS into 2 wallets?
Not recommended. Splitting your WEJS into 2 different wallets will give a lower overall allocation size. Stick to one wallet.
🡪Buy WEJS tokens here🡨
STEP 3 — Stake your WEJS tokens to Qualify for Allocations
Users MUST stake their tokens before participating in any IDOs.
BONUS: Longer staking pools have more benefits (see table below).
Table 2. Staking Pools and Their Benefits
* At least 1,250 WEJS is needed to add to any of these pools to take part in IDO
If I stake in multiple pools? What is my chance of removing cooldown?
We will simply take the weighted average.
For example, Alice has put her EJS and WEJS into multiple pools shown below:
Table 3. Computation of Weighted Average for Cooldown Period Removal
To compute for the weighted average(WA) per staking pool:
Weight * Chance of cooldown period removal = Weighted Average Chance of Removing Cooldown.
Repeat this computation for all staking pools. To get your final chance of removing cooldown, just get the sum of all the weighted averages.
Will Alice (see Table 3) be eligible for the Additional Benefits?
No. Again, Alice has to stake ALL her tokens in our 999 pool or into farming or any combination of both these 2 pools to get the additional benefits such as 100% cooldown removal , 1.75X allocation boost, monthly NFTs, and access to private rounds if available.
If I stake in multiple pools? How is my Allocation Boost calculated?
The same weighted average principle applies in computing for your allocation boost multiplier:
Table 4 Computation of Weighted Average for Allocation Boost
E.g If you were supposed to get $100 allocation, now you will get $138 allocation with the boost.
Start staking WEJS here https://stake.enjinstarter.com/.
STEP 4 — Apply Whitelist before the IDO (COMING SOON)
With our new launchpad coming up, participants can now actively decide whether they want to be whitelisted or not.
This was another great suggestion provided to increase allocation size and get rid of the ghost snapshots that’s been bothering our community.
From 23rd Feb onwards, you will be able to Whitelist for an IDO:
2. Choose the project that you would like to participate in (available from 23 Feb 2022):
3. Connect your wallet (Trustwallet, Metamask, Rainbow) & click “Apply whitelist” (available from 23 Feb 2022):
4. One day before the IDO date, you can see your WL and allocation results on the launchpad (available from 23 Feb 2022):
STEP 5 — Allocate Funds to the IDO (available from 23 Feb 2022):
Once you have been successfully whitelisted in the IDO, you can now start allocating your funds.
The cooldown will start the minute you allocate funds into the IDOs.
FREQUENTLY ASKED QUESTIONS (FAQS)
- What happens to the Time Boost in this new scheme?
In the new system, allocation boost is given based on which staking pool you choose (refer to Table 2). Starting from February, the time boost will no longer be calculated BUT to reward all our loyal users who have been with us since day 1 of the implementation of the Time Boost and all the way up to the end of January 2022, we WILL factor that into your future allocation calculation.
HOWEVER:
- You have to immediately re-stake to keep the time boost alive.
- If you unstake and then re-stake on a later date, the time boost is gone.
2. Will my unclaimed staking rewards be factored into my allocation calculation?
YES.
3. Are there more benefits to farming vs staking?
Farming Benefits is the same as the benefits for staking 999 days (refer to Table 2).
4. Can I claim my rewards before the staking period is over?
No you cannot because this is how the smart contracts have been designed BUT we do take into consideration your unclaimed rewards in your allocation calculation and factored in other benefits (refer to Table 2).
5. Will this new launchpad version give the chance to buy less than assigned?
Yes, but only starting from the 1st week of March 2022. We need more time to test this feature because we have to create a dynamic smart contract.
Should you have any more questions or concerns regarding our cooldown period, staking, farming or anything Enjinstarter-related, feel free to visit bit.ly/EJS_NewStakingFAQs.
You can also reach out to us via our socials to keep yourself updated with our newest releases as we continue to strive to be one of the best launchpads in the crypto space.
