SpacePort is Live! Launching An IDO on SpacePort

A Walkthrough for Launching Your Very Own Self-Served IDO

SpacePort is live!

SpacePort is the democratized open IDO launchpad, for the first time, allowing any blockchain project to easily set up and launch their own initial DEX offering (IDO) on top of the PlasmaSwap DEX — completely free of cost other than gas fees for contract interactions.

With SpacePort, powered by PlasmaFinance, we take a step closer to our goal of “DeFi for the masses”, giving all projects of any size and stature the same opportunity to access an open, transparent, fairer means of crowdfunding on DeFi.

• No more gatekeepers to tell you how your token setup should be
• No restrictions on project size or type
• No limits to market settings and IDO management
• Fully customizable settings of your choice with our “Contract Factory” tool

Setting up your own IDO is actually really simple, but because this is a new offering and done entirely on-chain, we’ve prepared a handy video walkthrough as you can see above to help you do this in just two minutes!

In case you would like to see how to participate in an IDO once they launch on SpacePort, we’ve also prepared a nifty video to show you how:

To set up your own IDO right now, you can also follow the steps below that takes you through the entire process.

Before You Begin, Here’s What You Need

Setting up an IDO on SpacePort is a completely transparent process following the principles of open and decentralized development that has made blockchain and crypto so successful.

You don’t need much to start using SpacePort to launch your IDO! However, there are some minimum requirements for a blockchain or DeFi project. You will need:

1. Your completed on-chain ERC-20 token contract on Ethereum mainnet.
2. Basic knowledge of using and making Github repository commits.

Once you’re ready, proceed to the first step.

Step 1: Supply your Token Page information

The first section of this walkthrough deals with your project’s Token Page information. This covers all of the information and details about your token. Entering the right details is important because this will be the first and main source of publicly available information about your project.

Once entered and approved, this becomes part of the PlasmaFinance source code, of which SpacePort is a part. Every single detail you enter will be publicly available in real-time, making your Token Page an on-chain transparent record of your project for the world to see.

1. Log in to your Github account and visit our public repository at https://github.com/plasmadlt. You can bookmark this link or locate it on our website and Medium blog.
2. Enter the repository for “plasma-finance-market-tokenlist”. This is where all the decentralized market data for PlasmaFinance is stored.
3. From there, select the json file to edit at https://github.com/plasmadlt/plasma-finance-market-tokenlist/blob/main/plasma-finance-market-list.json

4. FORK it by clicking on the Fork button at the top right corner, as shown above. When you do this, you’ll be creating a copy of this in your own account.

5. EDIT Enter your project’s token details following the same format as the others already in there. The first paragraph of code (as shown in the image above) displays the Token Page details for our own native token, PPAY. You can use this as a reference.

6. When entering your logoURL details, first upload your logo to the “assets” folder, as shown above.

7. After completing asset uploads and code edits, PUSH the commits back to us. Our developers will then examine your commit for coding compliance and approve it as an Update.

8. Repeat Steps 1 to 7 for this json file: https://github.com/plasmadlt/plasma-finance-token-list to ensure all your Token details are also updated on our PlasmaSwap DEX itself.

Step 2: Supply your IDO Page details

The second section of this walkthrough deals with your project’s IDO Page information. This covers all of the information and details about your actual IDO. Entering the right details is important because this will be transparently displayed to anyone viewing IDOs on SpacePort or PlasmaFinance.

Unlike centralized IDO lists, or even market databases, you have to rely on centralized sources to manually enter information and this can take days. With SpacePort, as soon as your commits are approved, all data is updated in real time from on-chain sources. In fact, any other investor can use Github in the same way to update details like Circulating supply, etc. and as soon as the commits are approved, the data is updated in real time.

In this way, investors can view your project details, tokenomics, allocations and all kinds of IDO analytics, to help them choose the best projects suitable for their investment needs. They can even trade the tokens directly, once the IDO completes successfully, all from the same page.

NOTE: Before you proceed with Step 2, we should mention that you should first prepare before-hand much of the information and details. For example, the common ways to specify pricing, and best practices for tokenomic models, and so on.

1. Enter the repository for “plasma-finance-IDO-page”. This is where all your IDO details like timeframe and sale price are entered, as shown in the image above.
2. From there, edit the json file to edit at https://github.com/plasmadlt/xxxx. Please enter all the relevant information carefully and triple check them as you will not be able to edit these details once written to smart contracts!
3. The main sections, as shown in the accompanying images, are:

- Tokenomics, which tracks details like supply, vesting periods, price, etc.

- IDO Chart, which tracks details like price, rate, participants and total raised, etc.

- Allocations, which tracks how the tokens are allocated.

1. You will also be asked to enter two particularly important details here:

• Whether or not your IDO will implement a Whitelist (refer to Managing Your Whitelist, if so)
• Whether or not your IDO will implement KYC. Here, you can choose your own KYC provider and provide a link to the Github token info file, in the KYC provider section.

2. After completing asset uploads and code edits, PUSH the commits back to us. Our developers will then examine your commit for coding compliance and approve it as an Update.

Step 3: Notify us of your Commits

In total, you should have entered commits for 3 items:

1. Market Token List (for decentralized Market data) from Step 1
2. Token List (for PlasmaSwap DEX data) from Step 1
3. IDO Page (for IDO data) from Step 2
4. To ensure we are notified and aware of new commits, please send our developers an email informing of your commits as above at contact@plasmapay.com. Note: The entire approval and Update process can take up to two weeks.

Step 4: Launch Your IDO

Once you’ve entered all the necessary setup information (Steps 1 through to 3) and we’ve approved all your commits as Updates, you’re ready to launch your IDO!

Other than the on-chain ERC-20 token contract, we also recommend that you have, as an option, a security audit for that contract. This would go a long way to convince potential investors that your contract has been audited for security and is free from common exploits and rug pull backdoors.

Before we continue, there are a few important things to note about the way SpacePort IDOs function, since they are designed to promote safer, more transparent democratic crowdfunding. As a result of these functions, there are important considerations for your project:

Do NOT launch an IDO raising funds in the same asset pair as an existing Liquidity Pool on PlasmaSwap. Do NOT open a Liquidity Pool for the IDO pair on your own.

A successfully completed IDO (defined as funding has at least reached a soft cap target) will automatically open a Liquidity Pool on PlasmaSwap with both the token sold and the type of asset raised. For instance, if raising in ETH, then the Liquidity Pool opened will be in the TOKEN/ETH pair.

This means you should NOT have an existing Liquidity Pool of the same pair before launching an IDO. Should you launch an IDO raising funds in the same asset as an existing Liquidity Pool on PlasmaSwap, SpacePort will automatically mark the IDO as unsuccessful or scam.

This is to prevent projects from deliberately defrauding investors for tokens with existing liquidity on PlasmaSwap and to prevent potential frontrunning by opening secret pools to buy tokens and later dump on investors. To avoid this, simply set up your IDO to raise funds in an asset pair not already opened on PlasmaSwap.

1. To begin your IDO launch, go to Create IDO using this link: XXX
2. Enter the details required on the forms you see as shown by the images above. Please ensure you triple-check all of this information as you will not be able to change them once you launch the contract. Every field will have an explanatory text next to it to help guide you through them.

• For DEX Listing Rate, what you specify is the starting rate on PlasmaSwap. Here, you will also specify the amount of raised assets from the IDO that will be used to form the Liquidity Pool on PlasmaSwap if the IDO is successfully closed. Note, an amount of your token equal to the value you specify will also be locked into the Liquidity Pool. So if you raise in DAI, for example, and $10,000 worth of DAI is locked, then $10,000 worth of your token is also locked into the Liquidity Pool.

• For Lock Up and Vesting, you can specify various periods to ensure liquidity is locked, how long investor tokens are locked, set limits per user and even an IDO Whitelist (we’ll get to that later),

1. When you are done, you can check all the details as you have entered. When you are satisfied, scroll all the way down, and select APPROVE to authorize the contract. When this is done, it should have an APPROVED message and tick, as shown in the image above. All you need to do now is click the “Create IDO” button and you will execute the contract launching your IDO!

2. Once launched, anyone visiting the IDO page should be able to view your active IDO, which will display in real time all the necessary information, as shown in the image above. This includes the start and finish date, sale details, allocation, and even the milestone details like Soft and Hard Caps, and progress towards that.

Managing Your IDO

Although you won’t be able to change most specifications or settings of your IDO once launched, you are still able to perform some actions. To do this, simply visit the Manage IDO settings page through this link: XXX

From here, you can:

• Edit code on Github — similar to Steps 1 through to 3
• Transfer ownership of the IDO — You can simply transfer the contract to another wallet to put someone else in control of the IDO
• Manage your Whitelist — see below.

• Suspend your IDO — you can end your IDO as long as you have reached your Soft Cap target. If you meet this requirement, you can Finish Raise and Claim Funds, as in the image above.

Managing Your Whitelist

From the Manage Your IDO settings, you can specify participants for your IDO. Simply enter the addresses you wish to whitelist or upload a CSV file containing the list, and click SUBMIT.

You can also download this whitelist from this screen as a CSV file.

Other Features to Note

1. IDO Templates — you can copy existing templates, simply by forking the existing repositories on Github to retain their settings, and then adjust them to suit your needs. This is a quick way to set things up from the basics.
2. SpacePort IDOs are exclusive on PlasmaSwap — you can, of course, open pools on other protocols like Uniswap or SushiSwap before or after your IDO.
3. Support and questions — we will be building an FAQ once we collect the most common questions and answers. You can of course contact us on our normal Telegram groups for SpacePort at https://t.me/spaceport_chat

Unique IDO Use Cases

SpacePort allows any project, big or small, to access a fair and democratic means of blockchain-based crowdfunding. For the investor, it also presents the most transparent way for you to view potential IDOs and participate in them. Unlike most IDO platforms, you can see every single detail about the IDO transparently displayed with real-time accuracy thanks to on-chain data sources.

Because of the unique customizable characteristics of SpacePort, projects can also make use of them in at least two types of token sale use cases:

1. An easy, secure platform to host private sale rounds

No need to host complicate private sales any longer, holding manual escrows and individual token distributions that are prone to mistakes. Instead, use SpacePort to build your own customized private sale rounds:

• Vesting and lockup periods built into smart contracts and automatically enforced. No more private sale investors going rogue and selling against their side contracts.
• Claiming UI that lets you close your private sale any time you want, claiming your funds raised and releasing tokens to investors as per contract.
• Manage your whitelist directly from the IDO management panel, specifying who can take part in your private or seed stages.

2. Open DEX pools for multiple funding rounds

• Open multiple stages simultaneously, each with a different asset raised. Whitelist one for a private list of clients, make public another for general participants, have different conditions for each, as you wish.
• Finalize stages at will. You can close any IDO when reaching at least Soft Cap, to immediately open a pool on PlasmaSwap and claim the raised funds.

We hope you enjoy the freedom and open access for IDOs on SpacePort, you won’t find anything that comes close to it in the current market in terms of features, customization, and built-in transparency! With SpacePort, we hope to improve the way projects raise capital for a safer, fairer, more sustainable DeFi ecosystem.

Link to Innovation Hub
https://apy.plasma.finance/#/innovation-hub

Link to IDO Lab:
https://apy.plasma.finance/#/innovation-hub/ido-lab

Link to application for incubation program:
https://plasma.typeform.com/to/K3mFrkza

Plasma Wallet | Plasma.Finance DeFi| Telegram | Twitter | Reddit | Github

For SpacePort:

Website | Telegram | Twitter | Substack | Launchpad Alliance