✈️Launchpad V2

Launchpad is where Netswap provides IDO opportunities for Metis Andromeda ecosystem projects.

Overview

The whole process of Netswap Launchpad is simplified on V2 as below:

  1. Stake NETT to get wNETT as the ticket to enter Netswap Launchpad(More details about wNETT), 100 wNETT unlocks $600 allocation(This 1:6 ratio is for Dexpools IDO event, it will be changed for next project).

  2. Use accrued wNETT to deposit equivalent stablecoins into the active event on launchpad.

  3. Wait for the launch time to receive new tokens and refunds(if any).

Event Process

There are only three phases for the whole process:

  1. Prepare — This phase is used to notify users to accrue enough wNETTs to participate in advance.

  2. Deposit — Users could use wNETT to enter an active event during this phase, the more wNETT tokens users have the more stablecoins users will be able to deposit.

  3. Launch — This is the launch time for the new token, the issuer of new tokens could distribute new tokens to eligible users based on their deposit after the opening of this phase.

Models

There are also two models for Netswap Launchpad V2: Primary Tier and Unlimited Tier. Projects launching with Netswap may choose to incorporate either or both models based on their needs.

Primary Tier Details

For this tier, there are only two limitations for depositing:

  1. Maximum deposit cap for each address.

  2. Maximum deposit cap for total raised stablecoins.

Example

An issuer offers 100,000 ABC tokens for the Primary Tier, and the price for ABC is set up to $1. Thus the target raised funds are $100,000, which is also the maximum deposit cap for total raised stablecoins.

Let’s say that the issuer wants to raise m.USDC, and sets up the maximum deposit cap for each address to $1,000.

As we mentioned above, the requirement for depositing $100 m.USDC into the ABC launch event is 100 wNETT tokens.

  • Alice accrued 10,000 wNETT from the wNETT staking.

  • Alice can only spend up to ~167 wNETT and receive an allocation of $1,000 m.USDC.

  • Alice deposits $1,000 m.USDC, up to the maximum deposit cap for each user.

  • Bob spends ~83 wNETT and deposits $500 m.USDC.

  • Assumed that the ABC launch event has raised 100% funds of the target.

  • Alice in this example could receive 100,000 ABC * $1,000 / $100,000 = 1,000 ABC tokens.

  • Bob in this example could receive 100,000 ABC * $500 / $100,000 = 500 ABC tokens.

Primary Tier Details

For this tier, there are only two limitations for depositing:

  1. Maximum deposit cap for each address.

  2. Maximum deposit cap for total raised stablecoins.

Example

An issuer offers 100,000 ABC tokens for the Primary Tier, and the price for ABC is set up to $1. Thus the target raised funds are $100,000, which is also the maximum deposit cap for total raised stablecoins.

Let’s say that the issuer wants to raise m.USDC, and sets up the maximum deposit cap for each address to $1,000.

As we mentioned above, the requirement for depositing $100 m.USDC into the ABC launch event is 100 wNETT tokens.

  • Alice accrued 10,000 wNETT from the wNETT staking.

  • Alice can only spend up to ~167 wNETT and receive an allocation of $1,000 m.USDC.

  • Alice deposits $1,000 m.USDC, up to the maximum deposit cap for each user.

  • Bob spends ~83 wNETT and deposits $500 m.USDC.

  • Assumed that the ABC launch event has raised 100% funds of the target.

  • Alice in this example could receive 100,000 ABC * $1,000 / $100,000 = 1,000 ABC tokens.

  • Bob in this example could receive 100,000 ABC * $500 / $100,000 = 500 ABC tokens.

Over-subscription

There won’t be an over-subscription by using the Primary Tier.

Under-subscription

In the case that ABC launch events do not raise the target funds, which means the issuer could only receive m.USDC less than $100,000 and unsold tokens.

Let’s say that the ABC launch event has only raised 90% funds of the target, Alice and Bob are assuming the same as the above situation.

Unlimited Tier Details

For this tier, there are no limitations for depositing. The issuer only needs to set up a target amount of raised funds, which is also used to calculate the overflow multiplier of the target.

Note: The participation fees are charged for this tier, the calculation method shown below:

Example

An issuer offers 100,000 ABC tokens for the Unlimited Tier, and price for ABC is set up to $1. Thus the target raised funds is $100,000.

Let’s say that the issuer wants to raise m.USDC.

As we mentioned above, the requirement for depositing $100 m.USDC into the ABC launch event is 100 wNETT tokens.

  • Alice accrued 10,000 wNETT from the wNETT staking.

  • Alice can spend all 10,000 wNETT and receive an allocation of $10,000 m.USDC.

  • Alice deposits $10,000 m.USDC.

  • Bob spends 5,000 wNETT and deposits $5,000 m.USDC.

  • Assumed that the ABC launch event has raised 100% funds of the target, which is $100,000 m.USDC. Then the multiplier will be 1x, there will be 1% participation fees charged by Netswap. Therefore, there are $1,000 m.USDC tokens distributed to Netswap, and the remaining $99,000 m.USDC tokens distributed to the issuer.

  • There are only 100,000 ABC * $99,000 / $100,000 = 99,000 ABC tokens will be distributed.

  • Alice in this example could receive 99,000 ABC * $10,000 / $100,000 = 9,900 ABC tokens.

  • Bob in this example could receive 99,000 ABC * $5,000 / $100,000 = 5,000 ABC tokens

Over-subscription

Highly anticipated token offerings may have strong demand for their tokens. Users may deposit more stablecoins(and spend more wNETT) in order to receive a large share of the ABC tokens.

Let’s say that the ABC launch event has raised 110% funds of target, which is $110,000 m.USDC. And Alice and Bob are assuming the same as the above situation.

  • The multiplier will be 1.1x, there will be 0.5% participation fees charged by Netswap. Therefore, there are $500 m.USDC tokens distributed to Netswap, $100,000 m.USDC tokens distributed to the issuer, and the remaining $9,500 will be refunded to users.

  • Alice in this example could receive 100,000 ABC * $10,000 / $110,000 = ~9,091 ABC tokens and $9,500 * $10,000 / $110,000 = ~864 m.USDC tokens.

  • Bob in this example could receive 100,000 ABC * $5,000 / $110,000 = ~4,545 ABC tokens and $9,500 * $5,000 / $110,000 = ~432 m.USDC tokens.

Under-subscription

In the case that ABC launch events do not raise the target funds, which means the issuer could only receive m.USDC less than $100,000 and unsold tokens.

Let’s say that the ABC launch event has only raised 90% funds of target, which is $90,000 m.USDC. And Alice and Bob are assuming the same as the above situation.

  • The multiplier will be 0.9x, there will be 1% participation fees charged by Netswap. Therefore, there are $900 m.USDC tokens distributed to Netswap, and the remaining $89,100 m.USDC tokens distributed to the issuer.

  • There are only 100,000 ABC * $89,100 / $100,000 = 89,100 ABC tokens will be distributed.

  • Alice in this example could receive 89,100 ABC * $10,000 / $90,000 = 9,900 ABC tokens.

  • Bob in this example could receive 89,100 ABC * $5,000 / $90,000 = 4,950 ABC tokens.

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