Octopus Protocol’s Initial Decentralized Exchange Offering (IDO) on Ignition’s decentralized swaps launchpad is taking place on Friday, June 11th. Congratulations to all the whitelist lottery winners!
There will be a supply of 1,000,000 $OPS tokens for purchase at $0.15 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 June 10th at 11AM UTC, or you risk being disqualified*.
Check to see if you are a lucky winner HERE.*
!!!!Please make sure to check the extra steps needed to participate in a BSC Project below!!!!
Congratulations to all our lucky golden lottery ticket winners!
The PAID and Octopus Protocol communities’ support resulted in a total of 42,911 valid lottery ticket entries. From the total valid tickets, 1,128 are winners, of which 363 are guaranteed Galaxy tier allocations, and 765 winners selected randomly from our lottery for the Moon pool! The holders of these tickets will now get exclusive access to Octopus Protocol’s IDO taking place on Ignition on Friday, June 11, 2021.
Octopus Protocol IDO details:
🚀 IDO Launch: June 11, 2021
✨ Galaxy Pool opens: 11:00 AM UTC
🌜 Moon Pool opens: 11:30 AM UTC
- CHAIN: Binance Smart Chain***
- Ticker: $OPS
- $OPS tokens available for sale: 1,000,000
- Price per $OPS: $0.15
- Allocation size per ticket: $150
- Vesting: 40% Redeem on Ignition then every week 20%
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.
A. Simply go to https://paidnetwork.com/ignition and click to sign up:
B. Fill in the required information and submit the form
C. Verify your email address
D. Configure your Metamask to connect to the Binance Smart Chain Mainnet
E. Ensure you have $BNB in your Metamask BEP-20 wallet
Paid will be integrating Binance Smart Chain with the Ignition platform — helping to boost efficiency and flexibility for our users.
Taking part in a BSC IDO is an almost identical process to participating in one on the Ethereum network, you will need to connect your MetaMask wallet to the Binance Smart Chain.
PARTICIPATING IN AN IDO ON THE BSC NETWORK
Login at https://paidnetwork.com/ignition
- Connect your wallet — make sure to connect the same wallet you have won your allocation with
- Switch your wallet to the Binance Smart Chain Network (to learn how to add Binance smart chain functionality to your MetaMask, please follow the tutorial HERE)
3. Check whether you’re connected to the BSC Network
4. Check whether you have $BNB in your Metamask BEP-20 wallet
5. Navigate to the pool page for the project from the home page, by clicking the button on the far right.
6. Click the appropriate “Join Pool” button (Moon Tier, Galaxy Tier, or otherwise).
7. Select “Max Allocation” for your allocation.
8. Metamask will prompt you to confirm the transaction
9. 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.***
- Please ensure that your transaction status is either ‘success’ or ‘fail’, before attempting another transaction. If your transaction seems slow, do not cancel the transaction, just click ‘speed up’ in your Metamask wallet.
- When the transaction status is ‘pending’, if you initiate another transaction to purchase your allocation before your previous transaction is processed, you may be double charged. In this instance, PAID Ignition cannot be held responsible.
10. After you’ve confirmed, you’ll see an option to view your transaction on BSCscan. Note due to network congestion your transaction could take some time. You may consider speeding up your transaction.
11. Once the transaction is confirmed, you will be able to see your amount invested and the number of tokens bought
12. 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 CosOPS 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, pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which vary per project on a case to case basis. For a list of Octopus Protocol specific restricted KYC countries, check HERE.
- ***Octopus Protocol is a BEP-20 project being launched on the Binance Smart Chain. If you are participating in the whitelist please see our instructions article about connecting your Metamask wallet to the Binance Smart Chain in order to be able to redeem BEP-20 tokens.
- **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!
About Octopus Protocol
Octopus Protocol is an open protocol facilitating the creation, exchange, settlement, and management of synthetic assets. Assets minted on Octopus Protocol require little collateral and minimal use of oracles. Any type of centralized financial asset can have a synthetic equivalent minted on Octopus Protocol allowing investors to participate in any market without the regulations associated with traditional markets.
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: