We are proud to announce Collateral’s Initial Decentralized Exchange Offering (IDO) on Ignition’s decentralized swaps launchpad taking place on Friday, April 16th.
There will be a limited supply of 250,000 tokens for purchase on Ignition at a fixed price of $0.40 per $COLL token on a first-come, first-serve basis only to confirmed whitelist participants*. If you are one of our lucky winners, be sure to KYC by April 15th at 11AM UTC, or you risk being disqualified*.
Check to see if you are a lucky winner HERE.
Congratulations to all our lucky golden lottery ticket winners!
We experienced an outpour of support from both the PAID and Collateral communities. This resulted in a total of 40,332 valid whitelist lottery ticket applications, from which we randomly selected 787 Moon Tier winners! The holders of these tickets will now get exclusive access to Collateral’s IDO taking place on Friday, April 16, 2021.
Collateral IDO details:
- IDO Launch: April 16, 2021
- Galaxy Pool opens: 11:00 AM UTC
- Moon Pool opens: 11:30 AM UTC
- Total $COLL tokens available for sale: 250,000
- Price per $COLL: $0.40
- Allocation per Ticket: $100
Got your Ignition Golden Ticket. What Next?
We recommend you sign up on Ignition ahead of time, so you can be logged in with your wallet connected before the pool opens.
- Simply go to https://paidnetwork.com/ignition and click to sign up:
2. Fill in the required information and submit the form
3. Verify your email address
Just before the launching of the IDO on Ignition, when the first pool opens, whitelist lottery winners must:
- Login, if you haven’t already
- Connect your Metamask ERC-20 wallet
3. Navigate to the project launch page by clicking apply (or details if pool is open) on the right-hand side of the project’s box on the homepage (for this example it says Shadows)
4. Click the “Join Pool” button
5. The Join Pool popup will appear — you will enter the amount of ETH you would like to send. You will also see here that your max allocation is shown, which is the allocation per winning ticket times the number of times you’ve won — number of times you’ve won will be shown on the right-hand side.
6. After entering your amount (or click your max allocation amount to auto-fill with your max) click Send Now
7. Metamask will prompt you to confirm the transaction
8. After you’ve confirmed, you’ll see an option to view your transaction on Etherscan. Note due to network congestion your transaction could take some time. You may consider speeding up your transaction.
9. Once the transaction is confirmed, you will be able to see your amount invested and the number of tokens bought
10. You’re all set! After the pool closes, return to the pool page and click to withdraw your tokens.
IDO launch on IGNITION FAQ
IDOs launched on Ignition will be following the Ignition token incentive mechanism. We want everyone to be able to successfully participate in each Tier-1 IDO on the platform, so here are a few things $PAID token holders should remember:
- Make sure to sign-up on the Ignition Platform before the actual IDO
- The moment the Whitelist lottery is closed, a snapshot of your wallet will be taken. This is to document the number of valid $PAID tokens you have for the lottery. This will be the basis for the number of lottery tickets you will be given.
- Your wallet must HODL at least the same amount of $PAID tokens from whitelist closing, until the end of the actual IDO. Should the amount of valid $PAID tokens drop, your entry may become invalid. You are welcome to add more $PAID tokens during this period, but not deduct from the number held.
- You are encouraged to continue HODLing your tokens. Whitelist opportunities will appear on Ignition all the time, don’t miss out, HODL those $PAID tokens.
- If you reach the Galaxy tier with 75,000+ tokens you will be automatically given a guaranteed allocation. You will be guaranteed one (1) allocation for every 75,000 $PAID tokens in your wallet.
- Not all IDOs on Ignition will have private sale access, in this case Cosmos tier entries will instead be given two (2) guaranteed allocations — one (1) guaranteed allocation for every 75k in your wallet.
- There will be at least two (2) pools for IDOs on Ignition:
- The Galaxy Pool: for entries with 75,000+ $PAID tokens. — Those with guaranteed allocations, will be given 1 hour to secure their automatic guaranteed allotment (one (1) allotment for every 75k $PAID tokens). Failure to enter this pool within the time given, will forfeit the guaranteed allotment for the Galaxy tier. It is important to note that if you are given another allocation through the whitelist lottery, you will have to enter the Moon Pool, to redeem those allocations.
- The Moon Pool: for those who have won allotments through the whitelist lottery, one (1) lottery ticket for every 1,000 $PAID tokens. This pool will open after the Galaxy pool closes — all allotments in the Moon pool are available on a first-come-first-serve (FCFS) basis.
FAQs, and the instructions above, are also available in our PAID help center’s knowledge base which you can access here. We’ll be doing our best to have answers to all of your questions as well as instructions on using the Ignition platform there for your convenience, so make sure to bookmark it!
- *For applications to be considered valid, all applications must adhere to the PAID whitelist lottery rules, must pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which varies per project on a case to case basis. For a list of Collateral specific restricted KYC countries check HERE.
- **Please note we will strive to meet our expected pool opening times, however should any changes occur we will update all Golden Ticket holders and the community well in advance. Please follow our Twitter or Telegram Announcement Channel closely. Thank you!
COLLATERAL is the next generation payment gateway built on Polkadot and accessed through an interoperable crypto wallet, granting access to spending power by using crypto as collateral at the point of sale. The platform allows users to pay instantly by using crypto as collateral, giving its global user base access to funds and the ability to pay and spend crypto instantly anytime, anyplace, anywhere.
IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol that allows blockchain-based token projects to offer their private and public auctions. The platform features Ethereum, Binance Smart Chain (BSC), and here shortly, Polkadot functionality.
Ignition is different from other auction platforms in that it properly vets and selects only top-tier cutting-edge projects. Its multi-level incentivization mechanisms for participants of published projects will encourage HODLing that supports both the project founders and the community. It isn’t just a trading platform; it FUELs projects and takes fundraising to the next level.
Ignition brings quality projects, fixed swaps, and equitable lottery participation to the PAID community.
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.
For any questions for the PAID network, please feel free to reach out to us on: