Pool creation for IDO
Pool creation is established with a collection of all necessary data that is important for the (IDO) Initial dex offering.
Token Address:
The token address is necessary for LitBit to know exactly where the Launchpad should be referring to. The address itself is the location of a smart contract either ERC-20, BEP20, CRC20.
Network:
The network is what blockchain the project will be on. Currently, LitBit supports:
CRONOS - https://cronos.org/
Currency of collection:
LitBit is able to support a wide range of options for collecting thanks to its bridge. Supported currencies: BUSD, USDC, USDT, BNB, MATIC, CRO, and ETH
Name of Token:
The name of the project will be listed on our launchpad for Incubator, Upcoming, Live, and Past IDO sections depending on what level of service the project enrolls with. It will also be used in LitBit's marketing strategies to help establish a high level of brand awareness.
Token Symbol:
The project's abbreviation of the token name (e.g., LIT, BTC, ETH, CRO). Consisting of usually 3-4 characters in length it is similar to what you would see in a stock ticker.
Different tokens can have the same token symbol and this is not a unique way to identify the project. Always confirm the symbol by checking the token address.
Decimals:
This will refer to the number of decimals related to the token
Total Token Supply:
The total token supply will refer to the number of tokens that currently exist and are in circulation or locked. For example, coins that are being held under a lockup or vesting period, this typically follows a private sale or Initial Dex Offering (IDO) event.
Presale Rate:
The presale rate will determine how much 1 token will cost, for example, 1 LIT will be .06
Sale Method:
With LitBit's pool creation you have three options for the sale method.
Public
A public sale is made available to all contributors without the need to have a whitelist or lottery tickets
Whitelist
Running a whitelist sale method will allow access to only those that are referenced against a verified list of approved wallets
Lottery
This method of sale is a way to protect your contributors against whales and provide fair access to everyone.
Only those who receive a randomly drawn ticket can participate
Minimum contribution:
This will set the minimum amount a contributor must commit to in order to participate.
Maximum contribution:
This will set the maximum amount a contributor can commit to in order to. This can be done over multiple transactions from the same wallet until the max is reached.
Soft Cap:
The soft cap refers to the minimum amount the project needs to raise in order to start/continue development. In the event, the soft cap can not be reached LitBit will initiate a refund process to all the contributors.
Hard Cap:
The hard cap refers to the maximum amount of funds the project is looking to collect in exchange for its tokens. If the hard cap is reached the sale will be considered complete, and no more tokens will be sold during this sale.
Refund type:
In the event, the soft cap is reached but Hard Cap is not, LitBit will offer projects two options to either Burn or Refund the remaining tokens
Listing Rate:
The listing rate is what the token will be worth when launched. This amount MUST be higher than the pre-sale rate. ( E.g. Pre-sale =.06 | Listing =.10 )
Starting Time:
What date and time will the sale open for contributions. ( MM/DD/YYYY HH:MM UTC )
Ending Time:
What date and time will the sale end for contributions. ( MM/DD/YYYY HH:MM UTC )
Liquidity Lockup:
This will lock the liquidity for a set amount of time providing security for contributors while providing a pool of funds needed for developers to enable their contributors to buy and sell.
Vesting Schedule:
The vesting schedule will define the period during which the tokens purchased cannot be sold by contributors and the intervals at which they can sell the tokens.
Total Vested Tokens:
The total amount of tokens that are to be vested after the token generation event. Example: 30% will be released at TGE and the remaining 70% will be the total vested tokens
First release after listing:
This will determine how many days after the token listing will the first vested release happen.
First release of tokens:
This will instruct the percentage of tokens to be released during the first vesting stage.
Vesting period each cycle:
After the completion of the first release, this will be the cycle for the rest of the vesting period. Example: Every 30 days
Token release each cycle:
For the remainder of the vesting period, this will be the percentage for the release of tokens for each cycle.
Last updated