SparkDeFi #AtAGlance: SparkLaunch is now LIVE!
An overview of SparkPoint’s IDO platform and how to participate on IDO launches and sales
Update: All SRKb and SFUEL pools will now be included in the list of supported pools. So if you have staked enough amounts of SRKb and SFUEL to meet at least the Ignite Tier, you will be included in the IDO sale. Please see the full list of supported pools below. This article can also be used as guide for upcoming IDO launch and sales at SparkLaunch. 🚀
SparkPoint’s launchpad went live on July 25 on the SparkDeFi web app. Alongside the company’s other products and services, the platform is named “SparkLaunch” as per SparkPoint’s traditional naming scheme. The initial DEX offering (IDO) platform has been in the making since the 1st quarter of 2021 and has been undergoing internal testing before its launch last July.
Content:
▶ Intro: For starters, what is an IDO, Launchpad?
▶ Ownly’s IDO
▶ Process
I. Staking your SFUEL and SRK on SparkPool Pools (Pool-based Staking dapp on SparkDeFi Pool dapp)
II. Pool Hold Period
III. SparkLaunch Tiered System
IV. SparkLaunch Tier Star Models
V. Launchpad Sale and Swapping Process
VI. Verification and Whitelisting
▶ Conclusion
For starters, what is an IDO, Launchpad?
An initial DEX offering or IDO refers to the launching of a cryptocurrency on a decentralized exchange (DEX). In an IDO, a blockchain project makes a coin’s first public debut on a DEX to raise funding from retail investors. IDOs have similarities with initial exchange offerings (IEOs), where crypto projects launch their tokens and raise funds via a centralized exchange (CEX) since both allow immediate trading on top of raising funds. However, centralized exchanges impose strict ground rules including:
- Payment of a huge sum or offering a portion of the tokens to the exchange;
- Prohibiting the project from listing their token on competing exchanges;
- Having very small leeway in controlling the parameters of a project’s token sale.
IDOs, on the other hand, can offer a far more cost-effective token sale and listing model. Firstly, an IDO provides quick liquidity with little to no slippage through available liquidity pools in a DEX. Relatively, it has cheaper listing costs. And like IEOs, it allows instantaneous trading.
Now, a crypto launchpad is a platform, maybe in a form of a decentralized app (dapp) as part of a larger ecosystem of products and services, offers to:
- Bridge the gap between an investor and a promising early-stage crypto project. It also helps new projects to attract the community, thus making it easier to onboard them to the project, also a gateway to learning more about these new projects.
- Provide a way to raise capital for these projects while allowing investors to gain early access to token sales, like an advertising tool that helps the project garner crowdfunds. (Having purchasing these tokens before it hits the market gives investors big discounts.)
Crypto projects don’t have to worry anymore about creating their fundraising platform and risk being a target by bad elements in the crypto world. Moreover, launchpad projects also help reduce the barriers of entry like costs and regulatory requirements.
SparkLaunch offers the platform for projects (e.g. Ownly NFT Startup project) that will be conducting their IDO, and the platform for investors to discover projects that they would like to invest to — helping the project reach their full potential and get the mass onboard later on.
Ownly’s IDO
The first-ever SparkLaunch IDO Ownly will be available for sale for all SRKb and SFUEL stakers this July 27, 2021, 6:00 PM GMT +8.
Token Information:
Token Name: Ownly
Ticker: OWN
Decimal: 18
Address: 0x7665cb7b0d01df1c9f9b9cc66019f00abd6959ba
Ownly (OWN) Token Tracker | BscScan
▶ Read: OWNLY: Innovative NFT-Focused Marketplace, Curator, and Blockchain Platform
Here’s the official website of SparkLaunch:
▶ https://launch.sparkswap.finance
Process
I. Staking your SFUEL and SRK on SparkPool (Pool-based Staking dapp on SparkDeFi)
First, you have to stake a certain amount of SRK or SFUEL, at least amounting to the entry-level tier of SparkLaunch. (More about this on the succeeding sections)
Note: The supported pools may change over time, depending on the availability of the pools on the time that an IDO launch has started. But the “Stake SRKb and Earn SRKb Rewards” and “Stake SFUEL and Earn SFUEL Rewards” will remain on every IDO launch.
Old UI ➡️ https://app.srk.finance/#/pool
- Stake SRKb and Earn OWN
New UI ➡️ https://stake.sparkswap.finance/#/pools
- Stake SRKb to Earn SRKb
- Stake SFUEL to Earn SFUEL
- Stake SRKb to Earn KROOT
- Stake SFUEL to Earn BGLG
- Stake SFUEL to Earn TIPSY
- Stake SRKb to Earn GZILA
These existing pools will be your gateway to track the amount of SRKb and SFUEL that you staked, and will be used to determine the allocation size during the token sale. Aside from staking SRKb and SFUEL on the pools for the IDO, the pools also offers SRKb, SFUEL and other token rewards with varying reward rates and APRs. Here are some features of SparkPool Pools:
- There’s no minimum amount to stake
- No maximum amount on staking
- Claiming and withdrawing your earnings is a breeze
- Pools are open and don’t expire
Future IDO allocations will be derived from the staked amounts in supported pools, on which you can keep your SRKb or SFUEL in the pool as long as you wish, and automatically be enrolled on the future IDOs on the SparkLaunch platform.
II. Pool Hold Period
Before and after the launchpad sale, there will be a temporary “Hold Period” to prevent some bad schemes like the abuse and manipulation of some participants on SRKb and SFUEL tokens, wherein some participants immediately dump large amounts of these tokens right after the sale period. The Hold Period will give way to the whitelisting of addresses that have staked in the participating pools.
SparkPool Pool’s functions like deposits, withdrawals, and collection of rewards will be temporarily put on hold. However, during the Hold Period, APR rewards will continue to all pool participants. Hold Period may last from 24 to 48 hours. Announcement of the hold period will be disseminated through SparkDeFi’s Official Twitter (twitter.com/sparkdefi) and Telegram (https://t.me/SparkDeFiOfficial) handles.
The Hold Period is something that investors and participants of the pools should be well aware of since anybody who didn’t stake in the pool before the hold period happened will be not be included in the sale. If you have participated and you staked the tokens for long-term, then you won’t have to worry about the hold periods as you don’t need to know when to stake, deposit or withdraw from the pool. But if you are only staking in SparkPool to get an allocation in a launchpad sale, you must be well aware of the Hold Period, so that you won’t be excluded from the launchpad sale.
III. SparkLaunch Tiered System
SparkLaunch currently has three (3) tiers for stakers to be classified as:
IGNITE Tier:
- 50,000 SRKb/3,500 SFUEL staked
- Pool Weight of 10
- Guaranteed Allocation
SPARK Tier:
- 325,000 SRKb/22,000 SFUEL staked
- Pool Weight of 100
- Guaranteed Allocation
BLAZE Tier:
- 2,000,000 SRKb/125,000 SFUEL staked
- Pool Weight of 1,000
- Guaranteed Allocation
The amount of SRKb or SFUEL staked into SparkPool Pools will be automatically recorded and it will categorize the amount to the corresponding tier. If you have staked less than the amount indicated in IGNITE Tier (>50,000 SRKb or >3,500 SFUEL), you will not be able to join the launchpad sales, but you can still enjoy the benefits of earning rewards from the pool.
IV. SparkLaunch Tier Star Models
SparkLaunch has implemented a “Stars” system that will make it easy to understand the size allocation that each staker would expect to receive on every launchpad sale.
Every “Star” equates to a fixed-size allocation per tier. Here’s a sample:
1x Blaze 🌟= 2,000,000 SRKb / 125,000 SFUEL
1x Spark 🌟 = 325,000 SRKb / 22,000 SFUEL
1x Ignite 🌟 = 50,000 SRKb / 3,500 SFUEL
Now we will break down the numbers to show the amount of “Stars” each participant in this example would get.
For SKRb:
Participant A stakes 3,000,000 SRKb in the SparkDeFi SRKb Staking Pool.
Participant B stakes 700,000 SRKb in the SparkDeFi SRKb Staking Pool.
Participant C stakes 160,000 SRKb in the SparkDeFi SRKb Staking Pool.
Participant A (3,000,000 SRKb) = 1x Blaze Star (2M), 3x Spark Stars (325k). 2,000,000 + 325,000 + 325,000 + 325,000 = 2,975,000. Total staked is 2,975,000 SRKb. There is 25k left over, which will not be applied to any Stars.
Participant B (700,000 SRKb) = NO Blaze Star (2M), 2x Spark Stars (325k), 1x Ignite Star (50k). 325,000 + 325,000 + 50,000 = 700,000. Total staked is 700,000 SRKb. There is 0 left over.
Participant C (160,000 SRKb) = NO Blaze Star (2M), NO Spark Star (325k), 3x Ignite Stars (50k). 50,000 + 50,000 + 50,000 = 150,000. Total staked is 150,000 SRKb. There is 10,000 left over.
For SFUEL:
Participant A stakes 500,000 SFUEL in the SparkDeFi SFUEL Staking Pool.
Participant B stakes 80,000 SFUEL in the SparkDeFi SFUEL Staking Pool.
Participant C stakes 15,000 SFUEL in the SparkDeFi SFUEL Staking Pool.
Participant A (500,000 SFUEL staked)= 4x Blaze Stars (125k), NO Spark Stars (22k), NO Ignite Stars (3.5k). 125+125+125+125 = 500. Total staked is 500k. There is 0 left over.
Participant B (80,000 SFUEL staked) = NO Blaze Stars (125k), 3x Spark Stars (22k), 4x Ignite Stars (3.5k). 22+22+22+3.5+3.5+3.5+3.5 = 80. Total staked is 80k. There is 0 left over.
Participant C (15,000 SFUEL staked) = NO Blaze Stars (125k), NO Spark Stars (22k), 4x Ignite Stars (3.5k). 3.5+3.5+3.5+3.5 = 14. Total staked is 15k. There is 1k left over.
With the implementation of SparkLaunch Stars, computation for the allocation of the participants will be a lot easier. The number of Stars could represent the amount in BNB of your purchase allocation in a sale. The above computation are just for example purposes only but it gives us an overview of the computation process of your size allocation on the launchpad sale. Of course, the allocation size may change or vary depending on every project in SparkLaunch.
V. Launchpad Sale and Swapping Process
Round 1
When the sale goes live on SparkLaunch, it is the time that you can now purchase the token, up to the maximum of your allocation size. You can purchase less than your allocated size but you can’t go higher than the maximum of your allocation size.
To start, you just have to click the “Purchase” button on the project’s page on SparkLaunch, type on the amount of BNB you want to swap with OWN tokens and click “Swap.”
Please note that after swapping BNB to the project’s tokens, these won’t be automatically reflected on your wallet. There’s a slight gap time until SparkLaunch sale participants could receive their tokens. This is a precautionary measure to prevent participants from listing the token on other DEX before the project managers have enough bags of liquidity to list their token. The gap time may take 30 mins to 1 hour after the sale has concluded. It may also vary per project on SparkLaunch.
Round 2
All unsold tokens from the first round will be sold to all Tiered participants, and there will be NO LIMIT on how much a tiered participant can buy!
Tiered participants will be able to buy the remaining tokens on the same page where the first round was conducted, and at the same time regardless of the tier. This round will remain open until all tokens are sold. Once all tokens are sold, that signals the end of the IDO sale.
Once the IDO sale has been concluded, the platform will prepare the tokens for release. Once the necessary preparations are done, participants can now proceed with claiming. Just click the Claim buttons designated for the first and second rounds of the sale found on the same page where the sale was conducted. Participants may choose to participate in the Liquidity Staking options that will be launched after the sale to earn extra token rewards.
Once your tokens are ready for release, you may click the “Claim” button on the bottom part of the project’s page. The button will activate once the tokens are ready for claiming.
VI. Verification and Whitelisting
Verifying one participant’s identity on a sale (mostly known as Know-Your-Customer or KYC verification) may be a requirement if a project requested it. But for the case of Ownly’s IDO, it’s not required. Some projects in SparkLaunch may request (or may not) a KYC in the future, we’ll just inform you in our announcement channels in advance in case that, it’s the case.
Conclusion
That’s it! It’s pretty much basic, the process is very simple, except for some little computation here in there, but you’ll get a grip of it when you followed the process correctly. It’s as similar as other launchpads and IDO platforms, but simpler.
Happy investing! May you all succeed alongside these wonderful projects. #ToTheMoon. 🚀
Ownly Official Links
▶ Website | ▶ Twitter | ▶ Facebook | ▶ Telegram | ▶ Discord
▶ Instagram | ▶ GitHub
Apply for your project’s IDO on SparkLaunch! Just fill up the form:
Google Form Link: ▶ https://forms.gle/hXZPr93vC8TEmsoh8
Learn more about SparkPoint and SparkDeFi from the following links:
SparkPoint Website: https://sparkpoint.io/
SparkDeFi Website: https://srk.finance/
Trade SRK: https://srk.sh/trade
Trade SFUEL: https://srk.sh/tradesfuel
SRK-ETH on Uniswap: https://srk.sh/uniswap
Telegram Announcements (SparkPoint): https://t.me/sparkpoint
Telegram Announcements (SparkDeFi): https://t.me/SparkDeFiOfficial
SparkPoint Community on Telegram: https://t.me/SparkPointOfficial
SparkDeFi Community on Telegram: https://t.me/SparkDefi
SparkPoint Twitter: https://twitter.com/sparkpointio
SparkPoint Facebook: https://facebook.com/sparkpointio
SparkPoint Instagram: https://instagram.com/sparkpointio
SparkDeFi Twitter: https://twitter.com/SparkDeFi
SparkDeFi Facebook: https://www.facebook.com/SparkDeFi
SparkDeFi Instagram: https://www.instagram.com/sparkdefi/
LinkedIn: https://www.linkedin.com/company/sparkpointio
GitHub: https://github.com/sparkpointio
SRK on CMC: https://coinmarketcap.com/currencies/sparkpoint/
SFUEL on CMC: https://coinmarketcap.com/currencies/sparkpoint-fuel/
