Solanium Guide: Participation in IDO, Tiers and Launchpad Requirements

What Is Solanium?

Solanium is one of the first launchpads in the Solana network.

The Launchpad is a platform to raise 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.

It is a young project that has quickly gained popularity due to its careful approach to selecting projects to run on it.

Should I choose Solanium? 

Solanium is a fairly young platform operating on the Solana network. The service has a simple and user-friendly interface, which attracts quite many cryptocurrency enthusiasts. On average, 30,000 users participate in each IDO held on this site.

According to Cryptorank.io, Solanium is already one of the ten most profitable platforms on the market. Given this fact and all of the above, Solanium is really worth looking at.

How Does Solanium Work? 

Solanium must have a certain amount of xSLIM tokens in their account to participate in IDO on the Launchpad. These tokens can be obtained by placing a bet in SLIM. The developers give the following example of how the system works in the documentation:

SLIM-LP tokens are also used to obtain xSLIM tokens, which can be obtained by providing an equivalent number of SLIM and SOL tokens to the Raydium pool.

The following tiers are available to users:

Tier 4 and 5 users are guaranteed an allocation of tokens. The SLIM token is currently worth 0.812 GBP.

Statistics and Performance 

According to statistics from cryptorank.io, Solanium is ranked twelfth among similar platforms.

So far, Solanium has raised $5.68 million in investments, with an average ROI of 59.20x.
This demonstrates the confidence with which early-stage blockchain ventures are launching their tokens on Solanium, and the potential for high returns for retail investors participating in IDOs.

The results of recent IDOs held at Solanium are shown in the following table.

What do you need to participate in IDO on Solanium?

In order to participate in IDO, the user needs to do the following

How to get whitelisted on Solanium IDO: Tiers Rules

User tiers on Solanium are divided into two types: lottery tiers and guaranteed allocation tokens tiers. Depending on which lottery tiers the user has, they will be given a certain number of lottery tickets. Accordingly, the higher the number of such tickets, the higher the chance of being whitelisted:

There is also an opportunity to take part in IDO completely free of charge. This opportunity depends on the project that is launched on the Solanium platform.

As a rule, to get the opportunity to take part in IDO for free, one has to complete several social tasks: subscribe to the project's Twitter and Telegram channel, do a retweet, etc.

Depending on the number of tasks completed, the user will receive a certain number of so-called social tickets, which will enable them to take part in IDO.

How to participate in Solanium IDO 

In order to take part in the IDO at Solanium, you need to complete a number of specific actions.

Step 1 — Connecting a crypto wallet

To start working with the Solanium Launchpad, you need to connect a crypto wallet that works with the Solana network to the project website. If you don't have such a crypto wallet, you will be prompted to create a Phantom wallet when you click “Create a new wallet”.

To connect the crypto wallet, click on the Connect Wallet button in the top-right corner of the website. Follow the instructions on the screen, the connection is literally made in a few clicks.

When this step is successfully completed, your crypto wallet number will be displayed instead of Connect Wallet.

Step 2 — Buy SLIM tokens

After connecting the cryptocurrency wallet to the website, you need to buy the required number of SLIM tokens to participate in IDO, but not less than 100 tokens. The tokens can be purchased from the following exchanges:

Step 3 — Obtaining xSLIM tokens

The next step after purchasing Solanium's native tokens is to get xSLIM tokens. Depending on which level you want to get, you will need to calculate how many SLIM tokens you are willing to supply.

To simplify the process, the Solanium developers have made a special calculator on the home page of the website to keep you from getting confused.

Step 4 — Participation in IDO

Once you have received your xSLIM tokens, you can start participating in IDOs. The Projects page displays a list of future, current, and past IDOs.

From the list of pools, choose the one whose status column shows the availability of whitelisting registration. By going to this project page, you will see all the information you need:

If you are satisfied, you can apply by clicking on the Register for Whitelist button and wait for the results of the lottery.

Step 5- Identity verification

Once you have been whitelisted, you must undergo identity verification. On the Solanium launchpad, it's fairly straightforward, you have to do the following:

Identity verification is quick, usually taking 15 minutes. Once you have passed the identity verification, you will be able to redeem the tokens you have won.

Whitepaper

The developers of Solanium take their platform seriously, as evidenced by the detailed documentation for the project. 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 Solanium available in the UK? 

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

Is Solanium Safe? 

The developers of Solanium take the security of their project seriously, and to date, not a single case of hacking of the launchpad has been reported.

How do I participate in Solanium? 

To participate in IDO on Solanium, you must first connect your cryptocurrency wallet to the project website. Then you need to buy enough SLIM tokens to participate in IDO, but not less than 100. Thereafter, you need to get xSLIM tokens, choose a suitable project and apply for whitelisting. After winning the lottery, you need to verify your identity and redeem the tokens you have won.

Conclusion

Although Solanium is very young, it has quickly become popular among users. It runs on the Solana network, so transaction fees are lower than those of launchpads that run on the Ethereum network. The launchpad has clear participation rules and is technically a great experience. It is a pleasure to work with this platform. Solanium also adds to its popularity by offering free participation in IDO.

The only disadvantage is the lack of information about developers on the project website. It would be desirable to have additional information about the developers of the site to increase the degree of confidence in the project.