Red Kite Launchpad Tiers and Requirements

What Is Red Kite?

Red Kite is one of the leading platforms for launching blockchain projects. These platforms are usually called launchpads.

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.

Red Kite is currently one of the most productive and active launchpads, with projects such as Tribe, Bunicorn and Step Hero all launched on this platform. 

The Red Kite Launchpad is owned by investment firm Icetea Labs, which ensures that only vetted and carefully selected projects for IDO are available on the platform.

Should I choose Red Kite launchpad? 

Red Kite launchpad is a well-designed solution for participating in pre-sales for both investors and blockchain project creators. The platform uses a clear user interface, registration is straightforward, and PKF tokens can be purchased on major cryptocurrency exchanges.

According to Cryptorank.io as of January 2022, Red Kite is one of the most profitable platforms on the market. Given this fact and all of the above, Red Kite is really worth looking at.

How Does Red Kite Work? 

To participate in IDO on Red Kite, you need to have a certain number of PKF tokens in your cryptocurrency wallet.

Token holders need to put their PKF tokens into the share pool in order to be eligible to participate in IDO. The platform uses a tiered allocation system depending on the number of PKF tokens you allocate to participate in a particular IDO.

The more PKFs you allocate, the higher your level will be and therefore the better your chances of being whitelisted.

There are two ways in which you can get tokens for a project that goes to an IDO:

Red Kite Tiers are distributed as follows:

At the moment the price per PKF token is £0.7673, so it's worth remembering that you have to spend around £30,400 to get a guaranteed distribution of tokens.

Statistics and Performance 

According to statistics cited by cryptorank.io, Red Kite is ranked third in the lunchpad rankings.

The results of recent IDOs held on Red Kite are shown in the following table.

What do you need to participate in IDO on Red Kite? 

In order to participate in IDO, the user has to choose the pool in which they are going to participate. Red Kite uses two types of pools "Pool IDO" and "Pool Community".

Users must apply to be whitelisted in the IDO Pool in order to get into the IDO Pool. Users with Red Kite Tier and verified identity are allowed to participate.

To enter the Community Pool, users must complete tasks on Gleam. All users are allowed to participate and no Red Kite Tier or identity verification is required.

How to join IDO Pools

In order to participate in IDO Pools, the user must do the following:

How to join Community Pools

The Red Kite Community Pool does not require a specific Tier and does not require identity verification. To become a member of the pool, all you need to do is complete social tasks on Gleam. The following steps are required to do so:

How to get whitelisted on Red Kite IDO

There is no guaranteed way to whitelist on Red Kite. To participate in an IDO, the user can stake from 500 PKF tokens, which does not guarantee that they will receive tokens from the project in whose IDO they are participating. Staking 40,000 PKF or more guarantees that the user will receive the tokens at the time of distribution, but does not receive a whitelist guarantee.

How to participate in Red Kite IDO 

In order to take part in the IDO on Red Kite, you need to complete a number of specific actions.

Step 1 — Connecting a crypto wallet

To get started, you should connect a cryptocurrency wallet to the Red Kite launchpad. We recommend using MetaMask. You can read a detailed review of this wallet in our article.

To connect a crypto wallet, click the Connect Wallet button in the top right corner on the project home page. This will open a connection window, where you can select the network and cryptowallet you are going to connect. Don't forget to agree to the Terms of Service and Privacy Policy.

Once the crypto wallet window opens, follow the instructions on the screen. Connecting is literally a matter of a few clicks. Once the wallet is connected, your cryptowallet number will be shown instead of Connect Wallet and a My Account button will appear.

Step 2 — Buying PKF tokens

To participate in IDO on Red Kite, you must have a certain amount of PKF tokens in your account. You can buy this token from the following platforms:

Step 3 — Stake PKF Token

The next step is to stake PKF/ LP-PKF tokens into the staking pool. Note that the staking pools are currently running on the BSC network.

On Red Kite, pools have two statuses:

The Red Kite platform also has two types of staking pools:

These pools come with and without IDO. Staking their PKF/LP-PKF token into pools with IDO, the user can participate in IDO. Whereas pools without IDO simply offer the possibility of receiving a reward. The user can't participate in IDO if they stake their tokens in a pool labeled Without IDO.

To stake on any pool, you need to go to the Details tab. If you are a first time user, you must first activate the pool before you can put your tokens into the pool.

Once activated, click on the Stake button and enter the amount of PKF tokens you want to contribute to the Red Kite staking pool. This will trigger a Metamask transaction, which you will need to confirm. Once confirmed, you can view the pool statistics in the My Staking Pool section of your account.

Step 4 — Project selection and participation in IDO

The next step is to choose a project to participate in. To do this, go to the Pool page. On this page you will see a list of available IDOs to participate in. Clicking on the Detail button will open a list with details of the upcoming event.

On the details page for the upcoming IDO you will see:

If you are satisfied with everything, clicking Apply Whitelist will open the Whitelist application.

Whitepaper

Red Kite is part of the Polkafoundry project. Polkafoundry takes its activities seriously, as evidenced by the detailed project documentation. It can be found at this link.

Disclaimer

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.

FAQ

Is Red Kite available in the UK? 

Red Kite is not a scam, the site is legal and available in the UK.

Is Red Kite Safe? 

The developers of Red Kite take the security of the project seriously, and to date, no major hacking of the site has been reported.

How do I participate in Red Kite launchpad? 

In order to participate in IDO on Red Kite, you first need to connect your cryptocurrency wallet to the project website. Then you need to buy enough PKF tokens to get a tier, which will allow you to participate in IDO. After that, you need to choose the right project and fill in an application form to get on the whitelist.

Conclusion

Red Kite developers have made an easy, user-friendly project to participate in IDO. Red Kite also takes the quality of the projects posted on the site seriously. Thanks to this, this launchpad ranks among the top five best launchpads. The downside of the project is the high cost of tokens, which provides a guaranteed allocation of tokens.