How to join IDO on WingSwap
Surely you will wonder how to participate in the IDO of projects on WingSwap.
Don’t worry, WingSwap will clearly explain it.
Whether you are a newcomer or a regular at WingSwap, WingSwap always wants to bring to you the best service.
That’s why we established xWIS as the flight credit, which can be used to exchange for Wings tickets to join IDOs. Fair distribution for active users on WingSwap, using features regularly will help users accumulate more xWIS.
There is a set of rules to join the flights to IDO land. Remember to always buckle up during your flight, follow closely to the rules then all should be good.
Users need to own tickets in order to participate in IDO, in which tickets can be exchanged with xWIS in Wings Store.
Rules are as follow:
- Must fly with WingSwap to earn xWIS in order to redeem Wings tickets. Different flights grant you different flight credit. You can do it by:
- Stake WIS
- Stake Wings NFT
- VIP Stake
- xWIS is only flight credit. If you want to join IDOs, you must own Wings tickets.
- 1 Wings Ticket is equal to 1 IDO slot. A project may require multiple tickets to enter. This is to be decided by WingSwap and Project’s team.
- Wings tickets represent different purchase values with different projects. Purchase values are to be determined by WingSwap and Partners (Projects' teams).
- Maximum use of tickets/user in participating IDO will be limited.
To participate, users select a project of choice, confirm their selection and the number of tickets used for the project. Tickets will be used instantly after users confirm their slots. Users can only buy the value equal or less than the number of tickets they put in.
- X: Registered Tickets
- Y: Purchase Value/Ticket
- H: Hardcap
- T: Total Raised Fund
Maximum Buy Per User = X * Y
There are two circumstances:
Case 1: Fund raised equal or lower than Hardcap
- User's purchase value is equal to registered tickets
Case 2: Fund raised higher than Hardcap
- User's purchase value = Registered Value * (Hardcap/Fund Raised)
- Total Raised Fund = $1,200,000
- Hardcap = $1,000,000
- There are 2 investors, A with $800,000 and B with $400,000. With the total raised fund as indicated is over the initial hardcap of the project. We will have the following equation:
- A's purchase value = 800,000*(1,000,000/1,200,000) = $666,667
- B's purchase value = 400,000*(1,000,000/1,200,000) = $333,333
- This will still ensure the total raised fund matches the hard cap of the project which is equal to $1,000,000.
Users can claim their tokens with either a monthly or linear vesting schedule. The vesting schedule is to be decided by WingSwap and partners.
Users will receive a refund if the Total fund raised is higher than the initial hard cap.