[3rd Update] SparkLaunch #AtAGlance: How to Participate in FlashLoans’ IDO Launch and Sale?
Get the full details on what will happen this November 1!
3RD UPDATE: (November 12, 2021)
We have distributed the additional $FLASH tokens to the whitelisted addresses of those who participated during the Flashloans IDO sale and already claimed through the SparkLaunch website.
For those who haven’t claimed their tokens yet from the SparkLaunch website before we distributed the additional tokens, the Claim R1 and R2 buttons will be enabled again for those who are yet to claim. We’ll repeat this process of distributing the additional tokens through a multi-sender until all whitelisted addresses have claimed their FLASH tokens from the SparkLaunch website.
Here’s the TXN of the distribution made today: Binance Transaction Hash (Txhash) Details | BscScan
2ND UPDATE: (November 4,2021)
We’re glad to share the news that Flashloans FLASH tokens sold during the 1st and 2nd round of the IDO sale can now be claimed! 💰✨
Claim now at https://launch.sparkswap.finance
Meanwhile, the additional tokens will be sent to the whitelisted addresses soon.
1ST UPDATE (November 3, 2021)
On November 2, 2021, it has come to our knowledge that the FLASH (BEP-20) token has been prematurely listed on a decentralized exchange (DEX) while their IDO Sale is being held on our SparkLaunch IDO Launchpad platform. Some IDO Sale participants have expressed their concern about the price of the FLASH token on the DEX being lower than the IDO sale price ($0.05) that the Flashloans team have set for their IDO on SparkLaunch.
We have forwarded the participants’ feedback to the Flashloans team and they have acknowledged the unfortunate event and have expressed their apology in an official statement posted on their Medium account. The SparkLaunch and SparkPoint team has also decided to end the 2nd round of IDO.
To compensate the participants that were affected by the event, the Flashloans team has decided to adjust the IDO price for SparkLaunch. From $0.05 to $0.025. With this regard, participants will be receiving twice the number of FLASH tokens that they have bought during the 1st and 2nd rounds of the IDO sale.
Participants will soon be able to claim and withdraw to their wallet the original number of FLASH tokens they have bought on the 1st and 2nd round, with the additional tokens to be sent through a multi-sender app.
The FLASH token will be available for claiming and sending very soon!
We thank everyone who have participated on Flashloans’ IDO!
Another #HiddenGem will land on our SparkLaunch IDO launchpad platform very soon and we’re excited to share more details about this exciting event for the community!
Let’s take a glance first at what the upcoming project is about.
FlashLoans project
Flashloans.com is a new DeFi tool that allows users to create and perform a flash loan-backed trade from an easy-to-use UI. Flash loans are a new uncollateralized loan product in DeFi, empowering traders and DeFi users by enabling instant borrowing with no collateral required provided that the liquidity is returned to the pool within one transaction block. Flashloans.com will also be adding a layer of functionality with Flash tokens, allowing users to access bespoke Flash loan analytics, as well as enjoy reduced platform fees.
Read more: Project Whitepaper
Token Information
Token name: Flashloans
Ticker: FLASH
Blockchain Network: Binance Smart Chain (BEP-20)
No. of Decimals: 18
Contract Address: 0x5f0366c9962193fa774cdce9602195593b49f23c
How To Participate? 🚀
The initial DEX offering of the Flashloans is similar to the previously held IDO of Ownly. We’ll guide you on every step so sit back as we explain further every move!
General Timeline:
1. November 1, 2021
• 2:00 AM UTC: Hold Period Starts! Stake and Withdraw buttons at https://app.srk.finance/#/pool and https://stake.sparkswap.finance/#/pools will be temporarily disabled, This will give way to the necessary preparation for the allocation of the addresses and the actual sale.
• 2:00 PM UTC: End of Countdown on SparkLaunch website, and Opening of Flashloans IDO Sale
2. November 2, 2021
• 2:00 PM UTC: End of Flashloans IDO Sale
• 3:00 PM UTC: Start of 2nd Round of Flashloans IDO Sale (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!)
3. November 3, 2021
• 2:00 PM UTC: End of the 2nd Round of Flashloans IDO Sale. (Might conclude at an earlier time)
• 3:00 PM UTC: Claiming of $FLASH tokens at SparkLaunch website (Might happen at an earlier time), end of Hold Period for SparkPool SRKb and SFUEL pools, Stake and Withdraw buttons are activated again.
I. Get your allocation first by staking! 💰
This is not new. As per usual, you need to be assured first of an allocation for you to be able to participate in the sale. To achieve that, you need to stake first your SRKb and SFUEL tokens at SparkPool amounting to the entry-level tier of SparkLaunch. More about the SparkLaunch Tier System in the next sections.
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 sale. Aside from staking SRKb and SFUEL on the pools for the IDO, the pools also offer SRKb, SFUEL, and other token rewards with varying reward rates and APRs.
Here are the links for the supported SparkPool SRKb and SFUEL pools:
Old UI ➡️ https://app.srk.finance/#/pool
- Stake SRKb and Earn KCLP
- 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
II. Hold Period begins! ⏳
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’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 12 to 24 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. Your allocation is computed based on the SparkLaunch Tier System 🧮
For you to be assured with an allocation for the IDO sale, you must at least stake 50,000+ SRKb or 3,500+ SFUEL on SparkPool, equivalent to the entry level IGNITE tier of the SparkLaunch Tier System. 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. To compute how much allocation you’ll get, there’s 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. The sale happens! 🛒
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.
The official website is https://launch.sparkswap.finance
To start, you just have to click the “Purchase” button on Flashloans’s page on SparkLaunch, type on the amount of BNB you want to swap with FLASH tokens, and click “Swap.”
There will be 2,000,000 FLASH tokens that will be offered through SparkLaunch, on which 1 FLASH token will be offered for $0.05 or 0.000099 BNB (BNB value as of October 29, 2021).
Please note that after purchasing with BNB, 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.
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 Flashloans’ 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 the same with the previous IDO, just differs on the way the token will be distributed.
Happy investing! May you all succeed alongside these wonderful projects. #ToTheMoon. 🚀
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/
