What is WhiteBIT Launchpad?
WhiteBIT Launchpad is a platform that offers a unique opportunity to support promising crypto projects in the early stages. It also grants exclusive access to project tokens for the WhiteBIT user community before they become available on the market.
WhiteBIT Launchpad offers numerous advantages for experienced professionals and industry newcomers. Here are the key benefits:
- Strict project evaluation: Projects eligible for voting undergo thorough scrutiny by WhiteBIT, ensuring high quality and reliability.
- Early access to new projects: Launchpad participants gain exclusive access to information about new crypto projects and their assets before they are introduced to the broader market, providing an opportunity to stay ahead of the curve.
- Community-driven selection: The WhiteBIT community plays a pivotal role in selecting projects for listing on the exchange, empowering users to impact the platform's offerings directly.
- Fixed price allocation: If a project receives sufficient votes, each participant in the voting process is allocated their share of the new project's assets at a fixed price, ensuring fairness and transparency.
Furthermore, holding WhiteBIT Coin (WBT) brings additional advantages:
- Up to 100% discount on maker's fees;
- Free withdrawals of ETH and ERC20 tokens;
- Increased referral program rates;
- Free AML checks;
- Numerous benefits from using our blockchain, Whitechain;
WhiteBIT Launchpad allows you to be at the forefront of accessing new assets by personally selecting them. Moreover, it provides full access to the benefits of WBT storage, unlocking the complete range of possibilities within the WhiteBIT ecosystem.
How does Launchpad work?
- The exchange initiates the process by accepting projects’ requests for participation in the voting.
- Then, selected projects undergo a meticulous evaluation by the exchange to ensure compliance with security standards and other crucial requirements.
- After the exchange has successfully evaluated the project, it is added to the WhiteBIT Launchpad page. At this stage, the project has the status “Soon.”
At this stage, users can familiarize themselves with the information about the project by clicking on the “Details” button. Going to the appropriate section, you can familiarize yourself with token distribution, timeline, access to allocation, project social networks, team, mission, and voting start date.
- When the exchange opens voting among Launchpad members for a particular project or projects, the project gets the status “Active,” and users can vote.
- Voting for the project continues until the Launchpad end date, specified in the project details. If the project gets enough votes, the voting ends, and the tokens are distributed among those who voted. At this point, the project status on the Launchpad page changes to “Distribution.”
Please note that the distribution stages differ depending on the project.
- After tokens are distributed among Launchpad participants, the project asset is added to the exchange and officially enters the market. The project status changes to “Finished”.
If the project does not gain enough votes, it is not added to the exchange and gets the status “Failed,” the funds used by the participants for voting are returned to the Main balances of the participants.
How to become a member of WhiteBIT Launchpad?
The Holding level calculates the USDT allocation amount equivalent with which the user can vote for the selected asset. This is another advantage of WhiteBIT Coin (WBT). You can learn more about it here.
To successfully vote, you must have USDT on your Main Balance. All Launchpad members vote for projects with their funds.
From the available amount of USDT allocation, you vote for a project with the amount of USDT you specify.
No fees are charged for voting, just in case you are not interested in the project or don't have the necessary amount of funds.
To vote for a project, go to the Launchpad page, select the project in the “Active” status, open the project details, specify the amount in USDT, and click “Vote.”
Funds will be deducted from your Main balance and will wait until the end of the voting period. You can check your votes on the History page in the Launchpad tab.
If voting for a project has not yet begun, the project will be in a “Soon” status with a countdown to the start of voting. You can drag the slider to get an email notification when the voting starts.
- Soft Cap is the minimum amount required to list a project.
- Hard Cap is the maximum amount required to list a project.
- Allocation is the maximum amount of USDT a user can contribute when voting for a project. The calculation of the amount of USDT with which a user can vote for a project depends on the WBT Holding level. The higher the Holding level, the larger the size of the allocation.
Please note that the allocations for different projects may vary, so always pay attention to the allocation table for your chosen project.
You can view the allocation for a project by clicking on “Details,” and in the project details, go to the “Access to allocation” section. There, you will see the allocation for the selected project.
There are currently 11 levels of WBT Holding, and to participate in the Launchpad, a participant must hold at least 200 WBT, corresponding to the 2nd level of Holding (the current Holding level can be checked here).
Vesting is a system of gradual distribution of tokens among Launchpad participants. This means that in the case of successful voting, the user will not receive all tokens in one go but only a certain percentage within the initial distribution. The rest of the tokens will be credited to the user in equal proportions during the period established by the project. All information about the vesting periods and the accrual percentage will be available on the project page on Launchpad.
The distribution dates are specified in the project details.
The details of vesting tokens received on Launchpad can be viewed on the Activity page in the Launchpad section.
How are new tokens distributed among Launchpad participants?
We have two types of Launchpad available on our exchange, FCFS and Extended. You can see a flag with a note near the project's name, which will indicate the type of distribution for this project. For each project, the type may vary.
Extended is a Launchpad with a refund after distributing tokens and an unlimited Hard Cap. If the project gains more votes than necessary, all participants will receive fewer project tokens, depending on the ratio of invested USDT to the total pool. However, the price of the received project tokens in USDT will remain unchanged.
Let's assume that for listing an asset on the exchange, the Soft Cap on Launchpad is 10,000 USDT. As a result of a successful vote, Launchpad participants can share the total supply of 25,000 project tokens (TOK).
As a result of the voting, the project gained 15,000 USDT. The price of token distribution is equal to 0.4 USDT per 1 TOK. For example, you have voted for 50 USDT.
Let’s calculate: divide the 50 USDT you invested by the total amount of votes collected, that is 15 000 USDT, and multiply by 100:
50 USDT / 15 000 USDT * 100 ≈ 0.33%
Next, we divide the total volume of the project’s token supply by 100 and multiply by 0.33% — the percentage ratio of your contribution to the total amount of collected funds:
25 000 TOK/100*0.33 = 83.3 TOK
From this formula, 83.3 is the number of new project tokens you will receive for participating in the Launchpad of this project. In this case, you will also receive a percentage of “unused” USDT back to your Main balance. Multiply the amount of your TOK by the distribution price. You will get the amount of USDT that you used for voting:
83.3 TOK * 0.4 USDT = 33.3 USDT
Next, we will subtract the actual amount from the total investment amount:
50 USDT – 33.3 USDT = 16.7 USDT.
Ultimately, you have two amounts, 83.3 TOK and 16.7 USDT “return” from the initial investment. Please note that the project may have vesting.
FCFS (First Come, First Served) – for this type of Launchpad, Soft Cap and Hard Cap are the same value. According to this distribution mechanic, the user will receive tokens in the equivalent amount to the invested (voted) USDT at the token rate set for this Launchpad (i.e. if the user votes 2500 USDT and the token price is 0.1 USDT, he will receive 25 000 tokens).
Let's assume that for listing an asset on the exchange, the Soft Cap and Hard Cap on Launchpad is 30,000 USD. As a result of a successful vote, Launchpad participants can share the total supply of 600 000 project tokens (TOK).
The price of token distribution is equal to 0,05 USDT per 1 TOK. For example, you have voted for 150 USDT. After the voting is completed, you will receive the following number of tokens:
150/0,05 = 30 000 TOK
These funds will be credited to your Main Balance. Please note that the project may have vesting.
Please note that all indicators in this article are examples. The distribution periods and percentages of accruals will differ for each project. All information will be available on the WhiteBIT Launchpad project page.
Frequently Asked Questions:
Where are the funds held, and where are the payout guarantees?
Launchpad is an analog of Initial Public Offerings (IPOs) and Initial Coin Offerings (ICOs). As part of Launchpad, the exchange scrupulously analyzes projects that want to bring their assets to the market, checks their compliance with standards, informs users about these projects, and allows the community to vote for their addition to the exchange.
Suppose a project gains enough votes. In that case, the exchange adds it to the platform. Launchpad participants receive new project tokens before the asset is officially admitted to trading on the exchange.
Until the voting for the project is over, and the project is added to the exchange, the funds are stored in our hot wallets. Users will get their funds back to the Main Balance if the listing does not take place.
What happens if a project does not get enough votes?
If a project does not get enough votes, it will not be added to the exchange. Users who voted will receive a notification by mail, and all their funds will be returned to the Main balance. You can find this information on the History tab, Launchpad section.
What happens if a project has accumulated more votes than the number specified in the Soft Cap?
This means that Extended Launchpad has been applied to this project.
The number of tokens will be recalculated depending on the amount gained, and each participant will get back part of the invested funds after the recalculation. For example, Soft Cap was 10,000 USDT. The project provides 25,000 project tokens(TOK).
As a result of voting, the project gains 15,000 USDT. The price of token distribution is equal to 0.4 USDT per 1 TOK. For example, you voted 50 USDT.
50 USDT / 15,000 USDT * 100 ≈ 0.33% – your entire project token pool percentage.
25,000 TOK/100*0.33 * 0.33 = 83.3 TOK – the number of project tokens you will receive for participating in Launchpad.
83.3 TOK * 0.4 USDT = 33.3 USDT – how much you voted for.
50 USDT – 33.3 USDT = 16.7 USDT – your "return” after voting.
During the Distribution phase, you will receive 83.3 TOK and 16.7 USDT of “return” from your initial investment. You will receive a notification letter in your email, and you can also see this information in the History tab, Launchpad section.
*Note that the project may have a vesting option.
Can I cancel my vote?
Yes, you can cancel your vote before the end of the voting period as long as the project is in the “Active” status. You can't cancel your vote after you get another status. After canceling your vote, your funds will return to your Main Balance.
What is the maximum and minimum USDT I can specify when voting?
The minimum when voting may vary, depending on the project. The maximum vote size is equal to the allocation. Please note that allocation for different projects may vary, so always pay attention to the allocation table for your chosen project.