How to participate in the XP.Network IDO
Yesterday, we released a video and short post on how to participate in the upcoming XP.Network IDO. If you’re still not sure, then read this short guide. To avoid Ethereum gas fees, and before we launch on Cardano, we may use the BSC network more for IDOs. So, it’s a good idea to familiarise yourself with what this process looks like.
The funding part of the XP.Network IDO will be completed utilizing the standard procedure that has been followed for all previous IDOs hosted on Occam.fi’s platform.
For those who don’t know, the procedure is:
- Buy and stake at least 150 OCC,
- Pass KYC on the OccamRazer platform,
- Register for the IDO via Occam.fi’s platform,
- If you’re whitelisted, send ETH to the IDO pool via razer.occam.fi once the pool is open.
However, XP.Network will have one significant difference to our other IDOs to date.
XP.Network’s tokens will be distributed on the Binance Smart Chain (BSC) network. Binance Smart chain contains the clone address of every Ethereum wallet, which means one will only need to connect the MetaMask wallet with which the user participated in the IDO, to Binance Smart Chain. The addresses are identical. But there’s still some actions you need to take before participating in the IDO.
Occam.fi users take note: this step is only necessary to access the tokens that will be issued post-IDO. You do not need to connect your MetaMask with BSC to participate in the IDO itself.
Perform the IDO transaction itself while connected to the Ethereum network — make sure you are not on Binance Smart Chain or any other network other than Ethereum when signing the transaction for the IDO. It is only the token distribution that requires connection to BSC.
You do not need to claim your IDO tokens for XP.Network. They will be automatically distributed to your wallet.
Below, we will look at how to set this up for MetaMask users.
How to access Binance Smart chain via MetaMask tutorial
- Open MetaMask,
2. Click the circle icon in the upper-right hand corner of your wallet, and click ‘settings’.
3. Select ‘Networks’,
4. Select ‘Add Network’,
5. Input the Binance Smart Chain parameters,
Input these parameters:
- Network Name: BSC Mainnet
- New RPC URL: https://bsc-dataseed1.binance.org/ or https://bsc-dataseed2.binance.org/
- ChainID: 56, or 0x38
- Symbol: BNB
- Block Explorer URL: https://bscscan.com/
Make sure they are correct before proceeding!
6. Save your settings,
7. Your wallet can now receive BSC network tokens. To view your token balances after distribution, you will need to select the BSC network on your MetaMask wallet settings. Look for the drop-down at the top of your MetaMask interface,
8. Select ‘BSC Mainnet’ — your XP.Network tokens should appear here, if you have manually added their contract address. This will be available after the IDO has concluded,
That’s it! You will now have access to your XPNET tokens if you participated in the IDO. Secondary market trading will be on PancakeSwap.
CED rewards will also be accessible via this procedure — and not via the normal route on the OccamRazer interface.
About XP.Network: XP.Network is the first blockchain-agnostic platform for building NFT dApps. XP.network is a multichain-based platform that allows users to design NFT dApps without coding, deploy them on 10 different blockchains, and migrate dApps from one chain to another with a single click. Learn more here: https://xp.network/