Label Foundation IDO on RedKite to Launch on December 17th
LABEL is an unparalleled NFT infrastructure built on top of Ethereum Network, powered by LBL utility and governance token with a unified goal to establish a fair profit-sharing ecosystem with the permissionless integration of IP rights. LABEL provides a decentralized P2P incubating platform to invest in world-class entertainment-education content through the DAO voting system to further allow contributors to claim profits through the NFT shareholding mechanism.
Dear Label community,
Along with the Public Sale conducted on NFTb, Label Foundation is proud to announce that on December 17th, 2021 we will be launching two public and community pools through Initial Dex Offering (IDO) on RedKite (PolkaFoundry). The IDO on RedKite has been scheduled for the 17th of December at 13:00 PM UTC, which will be only held for the whitelisted members for 1 hour in total. The whitelisted members will have access to a bit more than 31 million LBL Tokens offered at $0.003 per token. Learn more about the participation methods under this article.
LABEL Foundation’s IDO on RedKite
RedKite is a multi-chain launchpad backed by the PolkaFoundry ecosystem and they handpick the projects they envision to incorporate through a multifaceted vetting process. The launch of the LABEL’s Public Sale via IDO on RedKite is scheduled for the 17th of December. Users will be able to participate through either IDO Pools or Community Pool.
The IDO Pool requires users to follow Label’s and RedKite’s social channels, register on RedKite’s website, stake PKF, complete KYC, and complete the whitelisting procedure. Users in the Eagle and Phoenix tiers will be guaranteed allocation according to the amount of PKF staked. However, Dove and Hawk Tiers will have to win the lottery and will be given allocation according to the number of tickets they won.
Community pools require only to complete the Gleam tasks (No tier or KYC required).
Schedule for LBL IDO on RedKite
Whitelist Open: Start- 10:00 AM UTC December 13, 2021
White List Close: End- 10:00 AM UTC December 16, 2021
Winner Announcement: December 16
IDO Date & Time: 10:00- 11:15 AM UTC December 17th
Community Pool: 11:15–11:30 AM UTC
Listing on DEX: 12:00 PM UTC
Token Claimable Time: 30 minutes after the DEX listing (12:30 PM UTC)
Token Ticker: $LBL
Token to be Raised: BUSD (Network: BSC)
Price per LBL: $0.003
Total Raise: $100,000
Total LBL offered: 33,333,333 $LBL
Max Allocation per User: Community Pools for 20 USD, IDO pools depending on Tier.
Token Vesting: Unlock 40% at TGE, 20% at TGE + 1, 20% at TGE +3
How to Participate on Label & Redkite IDO pool?
Please note that you must complete all the whitelist tasks, in order to be qualified to participate in the LBL IDO on RedKite.
Step 1: Follow Label’s and PolkaFoundry’s social channels below:
- Follow Twitter accounts: LabelFoundation and @PolkaFoundry,
- Join community groups: Label Foundation and @PolkaFoundry,
- Subscribe to announcement channels: LabelFoundation and @PolkaFoundryANN.
- Like and retweet the IDO announcement tweet with hashtags #RedKite #LabelFoundation #PKF #LBL
Step 2: Register an account on the Red Kite https://redkite-faq.polkafoundry.com/about/
- Connect your wallet to RedKite through the BSC.
Step 3: Staking PKF to claim your tier.
- Stake the appropriate amount for the tier you want to be
- Phoenix & Eagle members are guaranteed allocation, however, only Hawk & Dove members who win the lottery will be allowed to allocate based on the number of tickets they won in the pool.
- If it is your first time staking on Red Kite, you will need to Approve tokens once (and only once) before you stake PKF.
Step 4: Select the Label Foundation IDO Pool, complete KYC, then complete the Whitelist procedure.
- After completing all required tasks according to your tier, select the Label Foundation IDO pool on the Red Kite’s pool dashboard and click the “Apply whitelist” button.
- A popup will appear and will require you to complete the KYC procedure. Click the “KYC Now” button and it will navigate you to IceTea Labs KYC on Blockpass. Once doing KYC successfully, come back to the Label Foundation IDO pool and click the “Apply whitelist” button again.
- Enter your Twitter account and Telegram’s username.
- Click Submit.
- After that, Red Kite will ask you to sign your wallet. Click Sign on your wallet to complete applying.
How to Join the Label Foundation Community Pool on RedKite?
1️⃣ Step 1: Visit the community competition on Gleam. (Gleam URL: https://gleam.io/QHK5F/red-kite-x-lbl-community-pool)
2️⃣ Step 2: Fill out the required details (Full name, Email, Wallet Address, Telegram username, Twitter username). You MUST enter the same wallet address you intend to register on Red Kite, or else you may not be able to get your allocation on the IDO date.
3️⃣ Step 3: Complete tasks on Gleam, plus Like and retweet the IDO announcement tweet with hashtags #RedKite #LabelFoundation $PKF $LBL
🔖 Tip: You can refer your friends on Gleam for extra 5 points. Remember that the more points you have, the more likely you are chosen as a winner.
The Red Kite’s default restricted countries are the United States of America, China, Hong Kong, DR Congo, Iran, Myanmar, Sudan, Iraq, Ivory Coast, North Korea, Syria, Zimbabwe, Cuba, Belarus, Liberia.
Red Kite is a launchpad and one of the most popular products in the PolkaFoundry ecosystem. The platform allows new crypto projects to raise funds and launch their tokens. Red Kite uses its native PKF token for governance. Token holders need to stake their PKF tokens into the stake pool to become eligible for the IDO. The platform uses a tiered system depending upon the PKF token you are staking. The more PKF you stake, the higher will be your tier and hence your allocation will be more.