How to participate in an IDO on LaunchVerse?

Published in

RADA Network

10 min readDec 17, 2021

Visit https://rada.network/en/launchverse to complete KYC, prefund with stablecoins-only or with RIR to maximize your winning chance, and check your status on the Dashboard.

RADA is pleased to announce that LaunchVerse, a DAO-based Launchpad for GameFi and MetaVerse Blockchain Projects that allows community members to participate in private/public rounds of funding by various token projects, is now LIVE!

In this article, you will be given a simple guide on how to take part in LaunchVerse token/NFT sales. As a new user, it is important that you follow the guide below.

Additionally, we have created a knowledge base with Frequently Asked Questions about LaunchVerse that might be of big help for everyone.

*Remember if you get stuck or have any questions, please join the RADA Discord server, find the “LaunchVerse Support” category and ask for help in the “{project IDO name} support” channel, our Customer Services Team will be ready to assist 24/7.

You can also watch our tutorial video, which has step-by-step instructions on how you can participate in any IDO/INO launches on LaunchVerse.

[EMBED LAUNCHVERSE TUTORIAL VIDEO]

*Disclaimer: It is important to note that RADA will not take responsibility for any financial investments you make. RADA facilitates the investment opportunity but any investments into specific projects are done on an individual level.

We hope you will enjoy our LaunchVerse and the world’s first DAO-based driven launchpad.

Step 1: Find a project you’re interested in

You’ll see all of RADA’s fantastic projects in LaunchVerse

Go to https://rada.network (always make sure the URL is rada.network — bookmark it to avoid possible scams)
Click on “LaunchVerse” Navigation
Choose any Project and click “Discover Now”

Step 2: DYOR! (Do Your Own Research)

Make sure you do your own research — RADA will help you by providing Project Reviews

DYOR on this pool in the “Raising Overview” box
On the right-hand corner box, choose “Full research” if you want to read a full Research article of that project.

Step 3: Apply for whitelist

Before you can invest, you must apply for the whitelist

1. Connect wallet

For now, LaunchVerse implements the best experience with the MetaMask wallet. Please create one and use it to connect with LaunchVerse.

*Note: Please make sure that you use only one consistent MetaMask Wallet connected to the below Sign-in Method, for the platform to keep your data when you sign in later.

Having multiple wallets connected to your RADA account will prohibit you from joining any pool on LaunchVerse.

2. Login

Click “Login button”
Choose your Sign-in Method (Google/Facebook/Twitter)

*Note: Please make sure that you use only one consistent Sign-in Method, for the platform to keep your data when you sign in later.

3. KYC

You will need to complete your KYC information to be able to join for all upcoming token launches. This only needs to be done once.

Certain citizens are not allowed to pass KYC with either ID or a Driving License. In this case, you would need to have a Passport for verification. You can find the list of Identity Documents supported by Blockpass here.

For KYC verification, one Proof of Identity from the following is required:

Passport
National ID card
Driving license

Follow the instructions to complete the KYC process. Once completed, Blockpass will review your submission. Results and updates will be sent directly to your email address, so keep a lookout there on the status of your verification. You can now close and sign out.

To adhere to compliance policies, users from some countries have been restricted.

If you are having trouble completing KYC, please join the RADA Discord server, find the “LaunchVerse Support” category and ask for help in the “{project IDO name} support” channel, our Customer Services Team will be ready to assist 24/7.

Step 4: Prefunding

After completing the “Whitelist” Step, you will be directly transferred to the “Prefunding” step. LaunchVerse allows users to prefund their allocation using RIR and stablecoins (BUSD, USDC, etc.).

A. Select prefund amount

Choose the amount that you wish to invest

In this section, you can choose whether to use your RIRs or Stablecoin to prefund.

If you already have RIR, it’s recommended to use RIR instead of just BUSD/USDT,… so that you’re 99% guaranteed with your application.

*Please note that the RIRs section will not be displayed for users who do not have RIRs in their wallet.

Please read the “Allocation Details” section to know the Maximum & Minimum allocation amount you can invest.

*Depending on the project and available allocations, the minimum and maximum allocation, and how much you can prefund will vary from project to project.

B. Enable Stablecoins (or RIRs also)

By granting permission, you are allowing the RADA smart contract to access your funds (both RIRs and Stablecoins).

You will have to pay an amount of around 0,25$ to deploy this action (gas fee).

*This is the network fee, LaunchVerse does not profit from any of this.

*Please note that the “Enable RIR” section will not be displayed for users who do not have RIRs in their wallet.

*A gas fee is required for granting permission*

C. Prefund

Once you are done with all “Enable” steps, now you can click the “Prefund” button to approve the $BUSD + RIR (if you have it) to officially deposit your fund.

*You have to pay a transaction fee to deploy this action (gas fee).

Step 5: Keep track of your “Status”

To better understand how your result in “Status” stage will be after the “Prefunding” stage, we have listed out some potential scenarios one might have in the prefunding process:

Scenario 1: Fully prefund with RIR

At LaunchVerse, $RIR holders have all the power. For all IDO prefund processes, using RIR will get you a 99% guarantee for an allocation.

Example: If you choose to prefunds with 200 $BUSD and spend 2 $RIR.

In this scenario, you are guaranteed an allocation of $100 — $200.

But still, the final allocation will be calculated based on the total subscription of the pool using the overflow structure.

Best case scenario: you will get a $200 allocation. 2 $RIR is burned in the process.

Worst case scenario: You will get an allocation of $100 which equals 1 RIR burned, and get refunded his 100 $BUSD & 1 $RIR.

Scenario 2: Prefund with Stablecoins (no RIR)

LaunchVerse accepts prefunds using only stablecoins, as we understand there are new RADERS who don’t have RIR.

Example: You choose to prefunds with 500 $BUSD and don’t use $RIR.

*Choose to prefund fully with stablecoins*

In this scenario, you are not guaranteed an allocation of 500 $BUSD.

The final allocation will be calculated based on the total subscription of the pool using the overflow structure and lucky-based.

But rest assured, you can claim a refund for any prefunded amount if you are not on the final whitelist.

Best case scenario: You will get between $100 — $500 allocation based on lucky draw.

Worst case scenario: You will get $0 allocation, and get refunded 500 $BUSD.

Scenario 3: Partially prefund with RIR

To allow for a more flexible prefunding process, users have the freedom to partially prefund using both RIR and stablecoins.

Example: You choose to prefunds with 500 $BUSD and spend 2 RIR.

*Using partial RIR guarantees part of an allocation*

In this scenario, you are guaranteed an allocation of $100- $200.

But still, the final allocation will be calculated based on the total subscription of the pool using the overflow structure.

Best case scenario: You will get a $200-$500 allocation. 2 RIRs are burned in the process, and get refunded $100- $300 BUSD.

Worst case scenario: You will get an allocation of $100. 1 RIRs are burned in the process, and get refunded 400 $BUSD & 1 RIR.

All relevant information is available at the project’s LaunchVerse page, and you can return here at any time to see updates as to how the pool is doing, when it will close, and once the IDO or INO is finished you will be able to see Step 6: “Claim your token”.

Step 6: Claim your token

When the project’s token is officially listed on the market, after their TGE (Token Generation Event), and when it’s ready, this “Claim” step will open.

Be sure to stay updated on any announcement on RADA’s social media channels about the Claiming schedule of the project.

Depending on the whitelist subscription, your final allocation will be decided based on the LaunchVerse Overflow Structure and the “luck of the draw”. You can process the “Claim” with:

Case 1: You failed the whitelist

Your screen will be in step 3 (“Status”), click on the “Claim” button.

On the screen, your Bep20 Wallet will need your confirmation for the transaction. The time it takes to claim back BUSD can be around 10–20 minutes based on the platform speed, then prefunded BUSD will show back in your wallet.

*Unfortunately, you failed the whitelist*

Case 2: You win the whitelist

Your screen will display step 4 (“Claim”).

Case 2.1: When you win partially

You’ll be able to claim back the remaining deposit.

For example, if you deposit 300 BUSD + 2 RIRs and the pool limit for your account is 100 BUSD + 1 RIR, you will be refunded 200 BUSD + 1 RIR.

*Congratulations, you partially won the whitelist*

Press the “Claim” button and get BUSD and RIR back to your wallet.

Case 2.2: You fully win the whitelist

Congrats! You can press “Claim” and confirm the transaction on your wallet.

*Congratulations, you fully won the whitelist!*

After claiming your token, ensure to add the token to your Metamask Wallet where you can see your available token.

*You can learn how to receive project tokens to the wallet in this article:

How to add tokens to Metamask wallet on BSC

Please be aware!

Each investment pool will have a different investment size (X). When the amount of all investments is bigger than X, the pool will be distributed in an overflow structure. After equally distributing the prefixed amount, the remaining amount will be chosen at random and the unlucky investors will get refunded. When using RIR to prefund, you will have the best chance for a successful deposit and therefore you’ll be less likely to need a refund.
If you won the whitelist of an investment pool, the “claim” stage of yours will be open throughout the project’s Vesting Schedule for you to be able to claim all of your remaining tokens until it’s all released.
Each RADA account will use only one wallet to participate in the IDO. If using two different wallets with a single RADA account, you will be rejected to join the IDO.
RADA has the right to disqualify any suspicious account that may cause damage/ scam for the IDO Campaign on LaunchVerse.

And that’s all you need to know on how to participate in an IDO Event on LaunchVerse.

Why join the RADA ecosystem?

Why RADA?

RADA is a professional investor’s community — aspiring to be a fair community in terms of opportunity sharing and promoting only healthy blockchain investment for all investors in the community. RADA’s vision is to build a global community that connects Vietnam to the world and truly empowers a whole new generational industry of technology booming out of Vietnam and into the world with the backing from the RADA Community.

Want to earn RIR? Learn more about it here.