Next-generation IDO launchpad Scaleswap (built on Ethereum layer 2, powered by Polygon) has announced major details about its much anticipated IDO. The IDO follows the heavily oversubscribed funding round, where Scaleswap raised USD 2.5 million from prominent VCs in the blockchain space.
Scaleswap IDO set for June 25
Scaleswap revealed in a report on its medium blog that the IDO would take place on its own launchpad on June 25, 2021, from 10:30 am UTC. 500,000 SCA tokens will be made available for public sale at $0.35 per token.
Scaleswap aims to raise $175,000 from this public sale, resulting in an initial market cap of $418,250. The IDO is expected to herald a significant milestone in the Scaleswap ecosystem as users can purchase SCA tokens for the first time.
Scaleswap launches IDO whitelist campaign
Scaleswap has launched a whitelist event for community members that seek to participate in the SCA token IDO. Participants will be required to register on the whitelist form and complete tasks listed within the whitelist campaign. Participants that have not completed all mandatory steps will be disqualified alongside duplicate entries.
Scaleswap has also deployed a fraud filter to detect bits, scripts and multiple emails from the same IP addresses. Entries made with these processes are removed from the whitelist ahead of the lottery for eligible participants.
The whitelist event ends on June 21, 2021, by 01:30 pm UTC, and a lottery draw will be held to select winners. Winners will be notified by email and provided instructions to complete KYC to participate in the Scaleswap IDO.
Following the KYC process, they would be required to transfer the ETH amount from Ethereum to Polygon guided by the Scaleswap wallet app to participate in the IDO.
It should be noted that the public sale is on a first-come, first-served basis, and eligible participants will be required to show up on time and process transactions quickly to secure a slot.
A community-based IDO launchpad platform
Scaleswap is a community-driven IDO launchpad focused on transparency with a long-term vision to transform the current IDO approach to a more sustainable, less market-dependent system that honors loyalty. It deploys an ETH layer 2 scaling protocol powered by Polygon that allows users to enjoy low fees and convenience.
Scaleswap also transforms governance and community incentive with its comprehensive scoring system (ScaleSCORE) that rewards loyalty and participation in 6 different dimensions. SCA tokens will be used for various utilities on the platform, including determining a user’s ScaleSCORE which decides on the eligibility to participate in future pools and which unlocks further features after crossing a certain threshold.
Scaleswap plans to release a fully customizable autopilot pool participation functionality, innovative swap and liquidity service offerings, and an instant mass-airdrop tool – all firsts in the launchpad ecosystem. To learn more about Scaleswap, visit its website https://scaleswap.io/.
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