Algoblocks IDO Launch on KrystalGO: Announcement & Participation Details

Published in

Krystal Wallet

7 min readApr 1, 2022

Registration for $ALGOBLK IDO will begin on April 3. Visit KrystalGO to complete KYC and stake $KNC to accumulate points. You can check your points & tier on the Dashboard.

Algoblocks provides a simple platform to enable any user to access multiple DeFi products and trade using automated pre-programmed templates.

Algoblocks helps to simplify all of the complicated steps in DeFi, whilst providing a seamless user experience. ALGOBLK tokens will be used to reduce trading fees, stake for benefits and subscribe to pre-programmed algorithmic templates.

Algoblocks Pool on KrystalGO

Token Ticker: ALGOBLK
Token Type: BEP-20
Network: BNB Smart Chain
Total Raise: 100,000 BUSD
Total Available Tokens: 1,000,000 ALGOBLK
Deposit Token: BUSD on BNB Chain
Price per token: 0.1 BUSD

Algoblocks Public Pool: 90,000 BUSD

For all KrystalGO users

Algoblocks Partner Pool: 10,000 BUSD

ONLY for Algoblocks<> KrystalGO Social Quest Winners. Click here to participate in the giveaway.

Read more about this in the Algoblocks Partner Pool section of this article.

Registration

Starts: April 3, 2022, 08:00 UTC
Ends: April 6, 2022, 08:00 UTC
Allocation Announced: April 6, 2022, 09:00 UTC

DO NOT withdraw your KNC before the allocation is announced, even if the Registration Phase has ended! Cut-off time to snapshot your total points to decide your tier for the ALGOBLK IDO Pool will happen anytime between 08:00–09:00 UTC, April 6.

Pre-Order Your Allocation

Allocation will be announced on April 6, 2022, 09:00 UTC. This will be shown on the pool page.

Pre-Order Starts: April 6, 2022, 09:00 UTC

Pre-Order Ends: April 7, 2022, 07:59 UTC

If your wallet is allocated, you can immediately deposit to pre-order your allocation. Your order will be filled automatically at the start of the token sale.
You have to pre-order your allocation before the start of the token sale. You will lose your guaranteed allocation if you do not purchase it by the start of the Token Sale. Any unpurchased allocation will be made available to the public to purchase.
If your wallet has Raffle — Missed, you have to wait for the start of the Token Sale.
If your wallet is Not Registered, you have to wait for Last Call of the Token Sale.

Token Sale

All pre-orders will be filled automatically at the start of the token sale. Any remaining allocation will be available to purchase. Token Sale runs on a First come First serve (FCFS) basis.

PUBLIC — April 7, 2022, 08:00–09:00 UTC

All users who registered for the pool can purchase
Token amount will be predetermined
First come first serve, until sold out

Last Call — April 7, 2022, 09:00–09:30 UTC

All KYC-ed KrystalGO users can purchase
No max cap of token amount
First come first serve, until sold out

Pool Initiation

April 12, 2022 12:00 UTC on MEXC Global and BitMart

Vesting Schedule

25% unlocked after TGE
25% unlock on May 18, 2022
25% unlock on June 18, 2022
25% unlock on July 18, 2022

For more details, you can refer to their tokenomics here.

How to join Algoblocks Pool on KrystalGO?

To be eligible, please complete the following steps.

Step 1: Connect Wallet on KrystalGO

Step 2: Go to Dashboard, Complete KYC

If you need help, you can find the complete instructions here.

Step 3: Accumulate Points

You can check your points and tier on the KrystalGO Dashboard. (Do note you can only check this on the KrystalGO page, not the Krystal page)

There are 2 ways you can accumulate points.

Stake KNC on KrystalGO (1 KNC = 1 point)

No minimum requirement for Topaz ; minimum requirement required for Obsidian, Emerald or Sapphire.

Go to Dashboard
Select your preferred chain. We support staking on Ethereum, BSC and Polygon. All chains are eligible.
Approve KNC token to stake. You only need to do this transaction once.
After the transaction is confirmed, click on Stake to stake your KNC.
Once staked, you can only unstake after 7 days.
If you want to buy more KNC to stake, click on the ‘Buy KNC’ button, and it will bring you to the Krystal website, where you can swap any tokens for KNC.

Trade on Krystal (10 USD = 1 point)

This is not a requirement. If you have already achieved your desired tier by staking KNC, you don’t need to fulfill any trading requirements.

Your trade volume will be calculated 30 days back from the end of a project’s registration stage — IE. April 6, 2022, 09:00 UTC.

Step 4: Check your Tier

🟠 Topaz (300 points)

No guaranteed allocation. All participants in this tier will have to enter a raffle, and allocation will be randomly assigned.

Minimum amount of KNC staked = 0
You can achieve the point requirement by either staking KNC, swapping tokens on Krystal, or a combination of both actions
During registration, you will be required to complete social tasks.

🟣 Obsidian (3,000 points)

No guaranteed allocation. All participants in this tier will have to enter a raffle, and allocation will be randomly assigned.

Minimum amount of KNC staked = 1,200 KNC
To make up the rest of the points, either stake more KNC or accumulate points by trading on Krystal
During registration, you will be required to complete social tasks.

🟢 Emerald (10,000 points)

Guaranteed allocation

Minimum amount of KNC staked = 4,000 KNC
To make up the rest of the points, either stake more KNC or accumulate points by trading on Krystal

🔵 Sapphire (35,000 points)

Guaranteed allocation

Minimum amount of KNC staked = 14,000 KNC
To make up the rest of the points, either stake more KNC or accumulate points by trading on Krystal

IMPORTANT NOTES

Your exact allocation will only be revealed on April 6, 2022, 09:00 UTC.
Please make sure to maintain your tier until your allocation is revealed.
The higher the tier, the greater the token allocation.

Step 5: Select Algoblocks Pool, and complete Registration

Go to Pools
Click on Register Now
KrystalGO will ask you to sign your wallet. Click Sign on your wallet to complete the registration process
Your status still be updated to: Registered.
Do note that you have to maintain your tier level throughout the registration period until the results are announced.
Participants in ALL TIERS have to wait until the end of Registration for the Results Announcement to find out their token allocation.

Step 6: Check Allocation Results

This will be announced on April 6, 2022, 09:00 UTC.
If you are in tiers Topaz or Obsidian, a raffle will be conducted at the end of the Registration period. You will know if your wallet has been selected during the announcement.
If you are in tiers Emerald or Sapphire, you will find out your token allocation during the announcement.

How to join Algoblocks Partner Pool on KrystalGO?

Step 1: Participate in Algoblocks <> KrystalGO Social Quest

Click here to participate in the giveaway.

Step 2: Connect Wallet on KrystalGO

The wallet you are connecting on KrystalGO, must be the same wallet you have provided in the contest. Any discrepancy will void your slot.

Step 3: Go to Dashboard, Complete KYC

You have to complete KYC before Registration ends on April 6, 2021, 08:00 UTC (16:00 GMT+8).

If you need help, you can find the complete instructions here.

Step 4: Wait for Results

Contest ends on April 5, 12:00 (GMT+7). Thereafter, the KrystalGO team will release an announcement revealing the winners, and instructions on how winners can participate in the sale.

For more information

⭐️ Step-by-step IDO/INO Participation Guide here

⭐️ Tier explanation here

⭐️ For support, email support@krystal.app

About Algoblocks

In recent years distributed ledger technologies have led to a blooming DeFi space and increased disruption of the traditional financial institutions. Part of this disruption is through an increased interest rate of a considerable higher return on the invested virtual assets either through staking or yield farming or through services that can only exist within the blockchain realm, such as Flashloans, Automated Market Making pools, etc.

Even though the DeFi space offers a universe of different products or services, we observed a low number of users compared to the total number of blockchain users. For example, if we compare the number of users active on the centralized crypto exchanges such as CoinBase or Binance, the numbers are well beyond 50 Million active users; however, the numbers dwell in comparison to around 3 Million users within the DeFi space.

Based on our research and discovery, we found that even simple tasks like bridging and staking are intimidating for most crypto users. Currently, most of the products are trying to remove this friction in the DeFi experience through aggregation. Aggregating multiple DeFi products or services doesn’t lower the entry barrier or eliminate the need to have the technical knowledge to know how to use them.

About KrystalGO

KrystalGO is a platform that allows community members to participate in public rounds of funding by token projects.

KrystalGO has participation tiers designed to cater to users of different portfolios. To qualify, users are allotted points in 2 categories — amount of staked Kyber Network Crystal (KNC) tokens at KrystalGO, and overall token swap trading volume on the Krystal platform.

KrystalGO supports projects built on Ethereum, BNB Smart Chain (BSC), Polygon, Avalanche, and Solana.. It will soon expand to include other networks to cater to more projects and users.