Moonpot Announces $POTS IDO and Giveaway in Conjunction With DODO Decentralized Exchange

Moonpot partners with DODO to offer a $POTS IDO for interested investors!

Moonpot’s Initial DODO Offering

The POTS Initial Dex Offering (IDO) will take place on DODO’s Crowdpooling platform with a cap of 500,000 POTS tokens available for purchase and distribution.

Moonpot has announced their Initial DODO Offering (IDO) for their $POTS token set to take place on August 2nd, 2021. The announcement was made by Ziggy Moonpot on July 27th and written in an article detailing the upcoming event. 

The IDO will offer an initial launch price of $1 (BUSD) per POTS within the 24-hour crowdfunding window. An Initial Dex(DODO) Offering is a decentralized means of raising money and launching tokens.

“The launch pad’s set, the rocket’s primed, and we’re ready for blastoff. Our mission? Win-win lotteries with the chance of planet-sized prizes and interest on your investment” as Ziggy Moonpot confidently stated.

Participation in the launch (IDO) has been limited by Moonpot to only 20,000 users to prevent whales from getting all the tokens at launch price.  Moonpot has also announced a 500 POTS token giveaway,  building the excitement before the POTS IDO launch. 

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How the IDO Will Work

Moonpot has partnered with DODO to take advantage of DODO’s unique Crowdpooling feature. Users that are participating in the upcoming Moonpot IDO launch will stake BNB or BUSD into said IDO. The IDO will only last 24 hours.  

Once the IDO ends, users are sent POTS tokens in proportion to the amount of BUSD or BNB staked in the IDO. The POTS IDO may have more money than tokens available for distribution.

 If this is the case, users will get their fair share of POTS tokens as well as a refund for their capital that was not used to buy them POTS tokens. 

What is interesting about Moonpot’s IDO launch is the parameters limit each user to a personal cap of $100 to stake in the IDO. With 20,000 able to participate and each one only able to put $100 in, it ensures that whales can’t dump a majority of distributed tokens following the launch. 

Once the IDO ends, DODO will open POTS-BNB and POTS-BUSD liquidity pools. The pools will consist of the capital raised from the IDO as well as prearranged POTS tokens used as reserves. 

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How to Participate

To participate in the Moonpot DODO IDO, users will need to join the white list 

This can be done multiple ways. A whitelist is a list of allowed investors and users to participate in a crypto event, such as Moonpot’s IDO. 

The first way to join

‍ Moonpot’s IDO whitelist is if an investor had CAKE staked in the CAKE Moonpot during the first prize draw on Monday July 26th. If an investor had CAKE in the CAKE Moonpot, they have automatically been approved to the Moonpot IDO whitelist. 

The second way to join

Moonpot’s IDO whitelist is by Guaranteed Whitelisting. To enroll in Guaranteed Whitelisting, users must have staked BIFI in the BIFI Maxi Vaults before 6pm UTC, 27 July 2021. Said user must then also stake 10 CAKE in the new CAKE Moonpot. 

The third way to join

Moonpot’s IDO is to participate in Moonpot Whitelisting missions. The first mission users can participate in is the 500 POTS giveaway with the chance to be entered in the upcoming POTS IDO.

To participate in this mission, users must deposit at least 10 CAKE into the Moonpot CAKE pool, retweet the Giveaway tweet, Follow @moonpotdotcom and @news_of_bsc on Twitter, and add the users wallet address so Moonpot can check you deposited 10 CAKE. 

What is Moonpot?

Moonpot is a no-loss lottery protocol on the Binance Smart Chain. The protocol can be best described as a savings account that offers users a chance to win a 20% of a massive lottery each week. 

The best part of Moonpot’s lottery is that users never have to pay to play. They just have to have money staked in a Moonpot savings account.

One may wonder how this is possible, to participate in a lottery without ever paying for it. Moonpot looks to achieve a no-loss lottery through their innovative approach to capitalizing on yield returns in DeFi. 

Moonpot will pool users’ funds together from savings accounts, strategically revinest them, and offer the returns on said yields as prize money for their lottery. 

This means users’ funds are never at risk of loss due to the lottery feature and users can play the lottery without ever having to pay in money. Moonpot’s innovative idea could prove tremendously powerful in the DeFi space.

Source : bsc.news