Mar 17
Early Deposits Launch! 🏦🔓
prePO is excited to announce the launch of early deposits, commencing March 18th 2pm UTC on Arbitrum, in the lead up to the platform’s launch.
Depositing early will guarantee you access to prePO’s initial pre-token markets, which could include Arbitrum ($ARB), StarkWare ($STRK), MetaMask, Gnosis Safe ($SAFE), zkSync, OpenSea, Lens, and more.
Early depositors will also receive PPO rewards, and will automatically earn ETH staking yield via an integration with Lido.
How to Participate 👇
- Get ETH ready on Arbitrum
- Deposit via app.prepo.io (when deposits open)
Important Details 👀
- Where: app.prepo.io
- When: Saturday March 18th 2pm UTC
(add to GCal or iCal, and click ‘Interested’ on the event in Discord) - Network/Chain: Arbitrum
- Deposit Currency: ETH (automatically converted into wstETH)
- Minimum Deposit: None
- Deposit Cap Per User: ~1 ETH (0.8978 wstETH)
- Total Deposit Cap: ~60 ETH (53.868 wstETH)
(+ 53.868 wstETH for protocol-owned liquidity) - Net Deposit Rebate: +2% (200 basis points fee, rebated 200% in PPO)
- Global Withdrawal Limit: 5 wstETH per 5 days (as a short-term security measure)
- Net Withdrawal Rebate: +1.5% (300 bp fee, rebated 150% in PPO)
- Deposit Yield: ~6.7% APR (see Lido’s site for up-to-date estimate)
- Eligibility: Everyone (after agreeing to the terms shown in the app)
FAQ ❓
Why are there deposit caps?
Deposit caps primarily exist as a safety mechanism to limit the amount of funds at risk in case of a security incident. Deposit caps also reduce volatility in prePO markets. As confidence grows in the protocol, and as protocol-owned liquidity increases, we expect that both the Deposit Cap Per User and Total Deposit Cap will be increased over time.
Why is there a Global Withdrawal Limit?
The Global Withdrawal Limit restricts the amount of funds that can quickly leave the system, which provides protection of your deposited funds in the case of a security incident. As confidence grows in the protocol, we expect that the Global Withdrawal Limit will be made less restrictive over time.
Can I withdraw at any time?
Yes, subject to the Global Withdrawal Limit and any other safety mechanisms that may be introduced.
Are my funds safe?
Although we have been audited, have gone through live testing (of deposits & withdrawals), and have security mechanisms in place to mitigate potential risks, no project or protocol is completely safe, and security incidents are always possible. As such, please do not risk more than you can afford to lose.
What happens if there is a security incident resulting in the loss of funds?
If this scenario ever occurs, we will do our best to recover any lost funds. However please note that the prePO treasury will not act as a backstop for any lost funds, and you are participating at your own risk.
What are PPO Rebates?
PPO Rebates are platform rewards in the form of PPO tokens, designed to cover partial, full, or even exceed any fees associated with using our platform.
What is the purpose of PPO Rebates?
By offering PPO Rebates, we aim to boost key metrics, such as user count, TVL, volume, and revenue, all while ensuring that our valued and active users receive a meaningful share of PPO tokens.
Can I check what amounts and rewards I will receive in advance?
Yes! You can input different amounts on the Deposit or Withdraw pages (even before deposits open) to see the estimated ETH value and PPO rewards that you will receive.
Will fees and rebates ever change?
Yes, fees and rebates are subject to change in future. These parameter values will be driven by feedback, experiments, and other data. Automated crowdsourcing of parameter values based on PPO token holder votes is also on the roadmap.
What is wstETH? Why are deposit caps and withdrawal limits denominated in wstETH?
wstETH, short for Lido Wrapped Staked ETH, is a token that represents ETH that has been staked in order to earn yield. Learn more here.
Your ETH is automatically swapped for wstETH before being deposited, because prePO’s collateral and markets are all denominated in wstETH.
Will my deposit show in my wallet (e.g. MetaMask)?
Yes (if you manually add it), however we recommend just viewing your balances more conveniently on app.prepo.io.
Will I need ETH to pay for gas (transaction costs)?
Yes, you will need to keep a small amount of ETH to pay for the gas (i.e. transaction costs) associated with your deposit and future actions on the platform.
Transactions on Arbitrum are relatively cheap, and 0.005–0.01 ETH should be more than enough to cover future gas costs for most users (check here for up-to-date transaction cost estimates).
Pregens — we’ll see you when deposits open! 🏦🔓🫡
About prePO 🔮
prePO is a decentralized trading platform allowing anyone to go long or short on any pre-IPO stock or pre-IDO token.
prePO’s mission is to democratize pre-public investing — transforming a world of financial exclusion into a world of permissionless access.
