We had covered up this before that Standard protocol is opting for an IDO launch on Polkastarter. Now, the project has released more details on its medium page.
The Initial Decentralized Offering (IDO) is scheduled for April 27th on the Polkastarter platform. The whitelist event will consist of two rounds:
- Round 1: The round consists of 150 spots and users can participate by either:
- Filling out a short quiz(30 spots),
- Tweeting your own Standard Protocol-themed meme(20 spots),
- Proving yourself as their early community adopters(100 spots).
- Round 2: The round consists of 400 spots(200 for public participants and 200 for holders with a minimum of 3,000 POLS). It is a lottery contest.
Round 1 will end on 22nd April at 12:00 PM UTC and Round 2 will end on 23rd April at 12:00 UTC.
In order to participate, a user has to complete these following tasks:
- Follow Standard Protocol on Twitter
- Follow Polkastarter on Twitter
- Follow Standard Protocol Telegram Announcements
- Join Standard Protocol Telegram Community
- Tweet your favorite feature of Standard using the hashtags $STND and $POLS
The target of the IDO sale is USD $325,000 equivalent. The launch price for a single token will be USD $0.25. Tokens will be fully unlocked at the token generation event. A user can buy a maximum of USD $500 worth of tokens.
The whitelist form for the corresponding rounds are given below:
For a detailed analysis about this protocol, check out: Standard Protocol: Things to know about collaterized rebasable stablecoin