Let’s Talk About Our IDO!
It is no longer news that HederaStarter’s IDO is coming up in the current quarter (Q2 2022). We are excited about what the launch means for our launchpad, our community, the growing Hedera ecosystem, and the broader Web3 industry.
Over the last few weeks, we have fielded tons of questions (not complaining, keep them coming!) about HederaStarter, our launch and a variety of other things! We have answered many of them in the HederaStarter FAQ.
But beyond these, there are some questions that are specifically about our upcoming IDO. We’ve been fielding questions during our weekly live sessions on Twitter and on Telegram and Youtube whenever we see them but as we’re closing in on our launch date we might as well get a piece which highlights some of the major points!
What is the launch schedule?
We are planning to hold HederaStarter’s $HSTART IDO in the second half of May; we will announce the exact date soon — maybe even this coming week!
We’ve been running through many different drills with our developers and getting the launchpad as stress-tested as possible before our debut in the coming weeks! And if you’ve been reading the weekly technical articles you’d know that its basically a matter of polishing everything, especially the UI on the run-up to launch. We may even try a private and public demo…
Wen Token on Market?
Once the IDO is completed, the secondary market release will follow. Simply put, you can expect to see $HSTART tokens available on the secondary market after our IDO, and we’ll confirm where they’re being listed once we have finalized all of those details.
What is the $HSTART IDO price?
We will announce $HSTART’s IDO price closer to the IDO date. We would like you to note that our target IDO price has taken into consideration the need to ensure an allocation to the larger HederaStarter community.
Concurrently, the IDO price is designed to follow sound crypto-economics principles to ensure that HederaStarter succeeds in the secondary market.
So, for the actual IDO price, make sure to join our community channels and follow HederaStarter’s social media channels for updates, especially our Discord where we’ve hinted about the price multiple times ;).
What are the staking requirements for each tier?
We will share the staking requirements for different membership tiers in the days leading up to our IDO, so once again we ask you to stick around and stay tuned across our many channels!
What options will be available to the U.S. residents?
Interested U.S residents can have some measure of participation through $HPRIME tokens. The $HPRIME tokens, provide access to project tokens of incubated projects on HederaStarter, even if you did not participate in their IDOs.
- Read our article on the $HPRIME ETF token to understand how $HPRIME tokens give you access to project tokens on HederaStarter
For U.S. residents who are accredited investors, it is possible to participate in HederaStarter’s IDO once you pass a special KYC procedure. Non-U.S. residents will be provided with a general KYC form.
However, the projects incubating on HederaStarter will be able to determine and decide if they want to limit participation to only users that have completed the KYC process.
What is the epoch time period length for the $HPRIME release schedule?
First, let’s recall what the tokens are within the HederaStarter ecosystem. HederaStarter tokenomics consists of two tokens: $HSTART and $HPRIME.
$HSTART is a utility and governance token. HederaStarter members stake $HSTART to access a membership tier and be eligible for IDO participation.
$HPRIME is the ecosystem index token, and it represents a Community Innovation Pool (CIP) pool that collects different assets including tokens of the projects that are launching on the platform. The $HPRIME token has a limited supply and, at the same time, every launched project will contribute to the CIP.
The Epoch Length is a tool designed to keep the release schedule of $HPRIME tokens as planned. The epoch length will be between 1 and 2 months in the beginning and can be extended later when less flexibility is needed. It is important to note that the assignments of the rewards will be huge right after the $HSTART token launch and will decrease in time.
Therefore, it makes sense to stake $HSTART tokens as early as possible to not miss out on the massive distribution.
Do not forget that the rewards will become claimable once the TVL in the $HPRIME pool reaches a certain limit and when the $HPRIME token will be on the secondary market. Details on this will be announced soon™!
Who are the current HDAO members? Has the initial HDAO group been finalized or is it still in the process of formation?
Currently, the HDAO consists of the largest seed investors, but the formation and membership in the tier will continue to be dynamic and open to everyone. We’ll be announcing the staking requirements for $HSTART to the DAO as well as being an HDAO member requires one to stake $HSTART specifically to the HDAO rather than the HPAD.
In general, HederaStarter’s DAO structure and the distribution of responsibilities are important to ensure the sustainable success of the project. We already have a post explaining the DAO structure and its function. We will continue to refine and improve our DAO in the later stages of our growth, we want the DAO to be a self-sustaining and growth-focused organization which is constantly evolving.
Is it true that several HPAD Stakers can pool their stakes to get access to the perks of the HDAO?
Yes. HederaStarter HPAD members can work together to gain access to higher membership tiers by forming ‘HSTART Builder Unions’. As HederaStarter continues to grow, we will release functionality that enables $HSTART token holders to delegate stakes and to choose a HDAO member as staking to the HDAO will require a rather high $HSTART stake amount as its an important position within HederaStarter.
You can consider that as an election to higher tiers of membership. The elected HDAO member can serve as the representative of the ‘HSTART Builder Unions’ to vote on additional governance features, such as proposals for project listing and system upgrades, and to provide the delegates with access to seed and private rounds opportunities.
How many projects are in the pipeline? In what domains?
The first project launching on the HederaStarter launchpad is our very own $HSTART token. Once we have completed HederaStarter’s IDO, other projects will begin to incubate and launch on the launchpad. We are currently speaking with quite a few projects across multiple domains and industries. Currently, we are in touch with many different prospective partners and our target is to bring as much TVL and use cases to the Hedera ecosystem as possible.
You can check out our manifesto which contains our incubation process to see the details of the selection procedure. Broadly speaking, interested projects are expected to fill out an enhanced due diligence (EDD) form to ensure the quality of projects, as well as the value, add to the wider Hedera ecosystem.
What size of projects would HederaStarter support in terms of funding levels being sought?
Overall, the IDO size is a tradeoff between the need to improve the upside for the community and the need to ensure that the tokenomics, as well as the initial market cap of the project, are sustainable.
In addition, we also need to make sure that there is enough buying pressure on the secondary market for the tokens after the IDO. Based on these considerations, the sweet spot for the IDO size is somewhere between US$100k and US$400k. As we continue to grow our community we can hopefully break into the lauded realm of US$1M+ IDOs which is a dream for us and means that there is a lot of people interested in Hedera!
Follow HederaStarter’s social media channels to stay up to date with the latest news:
- Website: https://www.HederaStarter.fi
- Telegram Announcements: https://t.me/HederaStarterAnnouncements
- Telegram Community: https://t.me/HederaStarterCommunity
- Twitter: https://twitter.com/HederaStarter
- Discord: https://discord.gg/hederastarter
- Youtube: https://tinyurl.com/HederaYT
- Medium: https://medium.com/hedera-blog
