ETHPad Guide: Participation in IDO, Tiers and Launchpad Requirements
What Is ETHPad?
ETHPad is the world's first launchpad using EIP-1559 on the Ethereum network.
The Launchpad is a platform for raising funds for an early-stage crypto project from retail investors rather than funds. As a reward for participating in an early-stage project launch, investors get early access to innovative product features.
EIP-1559 offers a new transaction pricing mechanism — a base fee per block. The blockchain burns off commissions, reducing the total amount of ether (ETH) in circulation, which creates deflationary pressure on the cryptocurrency. As a result, the number of commissions for using the network decreases for the user.
Should I choose ETHPad?
ETHPad works with EIP-1559, which means low commissions for the user. It also has one of the lowest entry thresholds. To participate in IDO, you need to buy £120 worth of ETHPad tokens. The site has clear rules for participation, a simple and user-friendly interface.
This project is definitely worth paying attention to.
How Does ETHPad Work?
Like any other launchpad, ETHPad has certain requirements for IDO participants. On ETHPad, users are divided into two categories: lottery participants, and users with guaranteed allocation of tokens. Tokens are distributed as follows:
In the lottery tier, which is called Bronze, the user receives a certain number of lottery tickets depending on the tokens placed on the stakes.
The tiers of guaranteed distribution are as follows:
At the time of writing, an ETHPad token costs £0.024. This means that you will need to buy £120 worth of tokens to participate in IDO.
Statistics and Performance
According to the statistics provided by cryptorank.io, ETHPad is ranked twenty-first in the ranking of the launchpads. Currently, ETHPad has attracted £441310 worth of investments with an average ROI of 12.32x.
The results of recent IDOs held on ETHPad are shown in the following table.
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What do you need to participate in IDO on ETHPad?
In order to participate in IDO on ETHPad, a user needs to do the following:
How do I buy ETHPad? Read our detailed guide here.
How to get whitelisted on ETHPad IDO: Tiers Rules
As written above, on ETHPad, users are divided into two categories.
The first category of users participates in the lottery, and the more lottery tickets a user has, the higher the chance of winning.
The number of tokens that users of tiers with guaranteed distribution will receive depends on the weight of the pool. Accordingly, the higher the user's level, the more tokens at the end of the IDO will be available to him.
How to participate in IDO on ETHPad
To take part in the IDO on ETHPad, several specific actions need to be taken.
Step 1 — Connecting the crypto wallet
To get started with the ETHPad Launchpad, you first need to connect your crypto wallet to the project website. We recommend using the MetaMask web wallet. You can read a detailed review of this wallet on our website.
To connect your cryptocurrency wallet, click the Open App button at https://ethpad.network. This will open the online version of the ETHPad Launchpad.
At the top of the page, click the Connect Wallet button. Follow the instructions on the screen. It literally takes a few clicks to connect. Once your wallet is connected, your crypto wallet number will be shown instead of Connect Wallet.
Step 2 — Buy ETHPad [ETHPAD] tokens
The next step is to buy ETHPad [ETHPAD] tokens. You can buy them on the Uniswap exchange.
Keep in mind that you will need at least 2,000 ETHPad tokens to participate in IDO on this launchpad.
Step 3 — Staking
The next step is staking ETHPad tokens. You can do this on a special launchpad page.
On the screen that opens, you will see a step-by-step instruction, which will display the completed and remaining steps.
After you have completed all the necessary steps and confirmed them, a KYC button will appear at the top of the page, and you can move on to the next step.
Step 4 — Identity verification
Once you have done your KYC, you will need to verify your identity. You will need two photographs to go through the KYC procedure:
It usually takes less than a day to verify your identity.
Step 5 — Project selection and participation in IDO
After completing the KYC process, participation in IDO will become available. To complete this, you must first select the project in which you want to participate. Clicking on the “Projects” tab will open a list with current, future, and past IDOs.
Clicking on the project you are interested in will open a window with detailed information about it.
The process of participating in IDOs is elementary. See the video below for how it works:
ETHPad was developed by the team that formerly worked on the DeFi Prophets project. This team also created such launchpads as the TronPad and BSCPad.
You can read a review of BSCPad in the article on our website.
The information contained in this article is for information purposes only. It should not be construed as financial advice. Investing in cryptocurrency involves significant risk of loss, and we advise you to consult a financial advisor if you decide to invest in cryptocurrency. Remember that all investments are made at your own risk.
Is ETHPad available in the UK?
ETHPad is not a scam, the site is legal and available in the UK.
Is ETHPad Safe?
The ETHPad team takes security seriously and no hacking of the site has been recorded to date.
How do I participate in ETHPad?
To participate in IDO on ETHPad, you must first connect your cryptocurrency wallet to the project website. Then, you need to buy at least 2,000 ETHPAD tokens, stake it, and verify your identity. Thereafter, you can take part in IDO.
ETHPad is the first launchpad to use EIP-1559 on the Ethereum network. Because of this, ETHPad has lower commissions than other Ethereum network launchpads. The platform is not overloaded with extra functionality, its principle is easy enough to understand. A wide range of levels allows users who don't want to risk large amounts of money to participate in IDO.