Presenting SparkLaunch 2.0: Your Gateway For “The Next Big Launch”
Featuring a refreshed interface and new features, SparkLaunch aims to cater to more functions and ways to participate in the latest IDO offerings and launches. Read the updated guide in this article.
SparkPoint will release today an updated SparkLaunch decentralized app (dapp), fresh with new features and improved user-interface. The dapp has been under the hood for months now for some much needed improvements, to provide a more cohesive and seamless experience for those who’ll be participating on the platforms initial DEX offerings (IDO) launches in the dapp.
Just a bit of SparkLaunch’s history! SparkPoint’s IDO launchpad platform was launched on the 25th of July 2021 as a SparkDeFi dapp. Since then, the dapp-turned-to-platform successfully launched 3 projects as of today. The platform has undergone massive improvements to accommodate more methods of handling IDO launches, especially those who have set a schedule or period of distributing tokens to those who bought their token in the platform. Vesting, to be exact.
So what’s exactly new with SparkLaunch 2.0? Here’s a rundown.
Everything in one place, be it an ongoing, upcoming, or completed launch, you can easily glance through all projects on a single page. Just connect your wallet to the SparkLaunch dapp (Be cautious of fake links! Check if the site you are connecting with is https://app.sparkswap.finance/#/launch) and you are now set to participate on ongoing launches, and even claim the tokens you bought in an IDO with ease. Everything is organized, more accessible and user-friendly.
Countdowns and timers for future IDO launches have also been improved. Details about the project like Description, Token Sale, and Claim have been separated and distributed to different tabs to give all information about the IDO enough space while maintaining order and accurate info.
Lastly, the team added 2 news tiers for those who want bigger allocations on upcoming IDO launches in SparkLaunch,
Participating in an IDO Launch
With all the new features and improved process of participating in an IDO launch, we have compiled all the necessary information so you’ll be guided on the upcoming IDO launches in SparkLaunch 2.0.
- Introduction: For starters, what is an IDO, Launchpad?
a. Staking your SFUEL and SRK on SparkPool Pools (Pool-based Staking dapp on SparkDeFi Pool dapp)
b. Pool Hold Period
c. SparkLaunch Tiered System
d. SparkLaunch Tier Star Models
e. Launchpad Sale and Swapping Process
f. Verification and Whitelisting
I. Introduction: 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 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 in — helping the project reach their full potential and get the mass onboard later.
1. Staking your SFUEL and SRK on SparkPool
First, you must stake a certain amount of SRK or SFUEL at SparkPool Pools (https://stake.sparkswap.finance/#/pools), 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.
The 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 offer 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.
2. 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 copious 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. The Holding 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 aware of since anybody who didn’t stake in the pool before the hold period happened will 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 aware of the Hold Period, so that you won’t be excluded from the launchpad sale.
3. SparkLaunch Tiered System and “Stars” System
SparkLaunch now has five (5) tiers for stakers to be classified as:
- 325,000 SRKb/38,000 SFUEL staked
- Pool Weight of 5
- Guaranteed Allocation
- 600,000 SRKb/70,000 SFUEL staked
- Pool Weight of 10
- Guaranteed Allocation
- 1,200,000 SRKb/140,000 SFUEL staked
- Pool Weight of 20
- Guaranteed Allocation
- 2,600,000 SRKb/305,000 SFUEL staked
- Pool Weight of 30
- Guaranteed Allocation
- 5,200,000 SRKb/610,000 SFUEL staked
- Pool Weight of 50
- 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 (>325,000 SRKb or >38,000 SFUEL), you will not be able to join the launchpad sales, but you can still enjoy the benefits of earning rewards from the pool.
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 Pyro ⭐️= 5,200,000 SRKb / 610,000 SFUEL
1x Blast ⭐️️= 2,600,000 SRKb / 305,000 SFUEL
1x Blaze ⭐️= 1,200,000 SRKb / 140,000 SFUEL
1x Spark ⭐️= 600,000 SRKb / 70,000 SFUEL
1x Ignite ⭐️ = 325,000 SRKb / 38,000 SFUEL
Now we will break down the numbers to show the number of “Stars” each participant in this example would get.
- Participant A stakes 5,500,000 SRKb in the SparkSwap SRKb Staking Pool.
- Participant B stakes 5,050,000 SRKb in the SparkSwap SRKb Staking Pool.
- Participant C stakes 2,500,000 SRKb in the SparkSwap SRKb Staking Pool.
- Participant D stakes 950,000 SRKb in the SparkSwap SRKb Staking Pool.
- Participant E stakes 400,000 SRKb in the SparkSwap SRKb Staking Pool.
- Participant A (5,500,000 SRKb) = 1x Pyro Star (5.2M). Total staked is 5,200,000 SRKb. There is 300,000 left over, which will not be applied to any Stars.
- Participant B (5,050,000 SRKb) = NO Pyro Star (5.2M), 1x Blast Star (2.6M), 1x Blaze Star (1.2M) + 1x Spark Star (600k) + 2x Ignite Star (650k). Total staked is 5,050,000 SRKb. There is 0 left over.
- Participant C (2,500,000 SRKb) = NO Pyro Star (5.2M), NO Blast Star (2.6M), 2x Blaze Stars (2.4M). Total staked is 2,400,000 SRKb. There is 100,000 left over.
- Participant D (950,000 SRKb) = NO Pyro Star (5.2M), NO Blast Star (2.6M), NO Blaze Stars (1.2M), 1x Spark Star (600k), 1x Ignite Star (325k). Total staked is 925,000 SRKb. There is 25,000 left over.
- Participant E (400,000 SRKb) = NO Pyro Star (5.2M), NO Blast Star (2.6M), NO Blaze Stars (1.2M), NO Spark Star (600k), 1x Ignite Star (325k). Total staked is 325,000 SRKb. There are 75,000 left over.
- Participant A stakes 1,500,000 SFUEL in the SparkSwap SFUEL Staking Pool.
- Participant B stakes 500,000 SFUEL in the SparkSwap SFUEL Staking Pool.
- Participant C stakes 250,000 SFUEL in the SparkSwap SFUEL Staking Pool.
- Participant D stakes 108,000 SFUEL in the SparkSwap SFUEL Staking Pool.
- Participant E stakes 40,000 SFUEL in the SparkSwap SFUEL Staking Pool.
- Participant A (1,500,000 SFUEL staked) = 2x Pyro Stars (1.22M), NO Blast Stars, 2 Blaze Stars (280k), NO Spark Star, NO Ignite Star. Total staked is 1.5M. There are 0 left over.
- Participant B (500,0000 SFUEL staked) = NO Pyro Stars, 1x Blast Star (305k), 1x Blaze Star (140k), NO Spark Star, 1x Ignite Star (38k). Total staked is 483k. There is 17,000 left over.
- Participant C (250,000 SFUEL staked) = NO Pyro Stars, NO Blast Star, 1x Blaze Star (140k), 1 Spark Star (70k), 1x Ignite Star (38k). Total staked is 248k. There are 2,000 left over.
- Participant D (108,000 SFUEL staked) = NO Pyro Stars, NO Blast Star, NO Ignite Star, 1 Spark Star (70k), 1x Ignite Star (38k). Total staked is 108k. There are 0 left over.
- Participant E (40,000 SFUEL staked) = NO Pyro Stars, NO Blast Star, NO Ignite Star, NO Spark Star, 1x Ignite Star (38k). Total staked is 38k. There are 2,000 left over.
With the implementation of SparkLaunch Stars, computation for the allocation of the participants will be Easier. The number of Stars could represent the amount in BNB of your purchase allocation in a sale. The above computation is 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.
5. Launchpad Sale and Swapping Process
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 must 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.
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.
That’s it! It’s basic, the process is quite simple, except for some little computation here in there, but you’ll get a grip of it when you follow 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. 🚀
Learn more about SparkPoint and SparkSwap from the following links:
👋🏽 SparkPoint Twitter: https://twitter.com/sparkpointio
👋🏽 SparkPoint Facebook: https://facebook.com/sparkpointio
👋🏽 SparkPoint Instagram: https://instagram.com/sparkpointio
👋🏽 SparkSwap Twitter: https://twitter.com/SparkDeFi
👋🏽 SparkSwap Facebook: https://www.facebook.com/SparkDeFi
👋🏽 SparkSwap Instagram: https://www.instagram.com/sparkdefi/
🏢 LinkedIn: https://www.linkedin.com/company/sparkpointio
👨🏽💻 GitHub: https://github.com/sparkpointio
ℹ️ SRK on CMC: https://coinmarketcap.com/currencies/sparkpoint/
ℹ️ SFUEL on CMC: https://coinmarketcap.com/currencies/sparkpoint-fuel/