PAID Network Presents the Participation Guide for the Crowdfunding of UMOJA Protocol on Ignition

PAID NETWORK
4 min readMay 15, 2024

Crowdfunding goal: $1.5 million

Type of Crowdfunding: Private Round

Token ticker: $UMJA

Token Price: $0.06

Raising On: Arbitrum

Raising In: $USDC

Vesting Schedule: 10% at token crowdfunding, 90% daily distribution for 8 months

EarlyPool: May 15th, 2024 at 11 AM UTC

OpenPool: May 16th, 2024 at 11 AM UTC

KYC: Mandatory for all participants who invest more than $1,000

Hi PAID Community!

Here is the moment you’ve all been waiting for!

UMOJA is live on Ignition v2, and we are thrilled to share our participation guide to get you ready!

Here’s what you need to know:

Following the successful crowdfunding opportunities of other major projects like Aether Games and Metropolis, Umoja will adhere to the same procedures detailed in our Wiki. The Umoja crowdfunding will include two distinct participation pools: The exclusive EarlyPool (open only to $PAID token stakers) and the OpenPool (available to everyone).

To participate, one must have an active Ignition account that has been linked to your participating wallet.

Please Note: For those planning to contribute over $1,000 in Umoja, you must ensure you completed KYC at least 24 hours before the official start to participate.

How to Join the Umoja EarlyPool and OpenPool

Our EarlyPool will open 24 hours earlier than the OpenPool and will be exclusively available to those who stake at least 75,000 $PAID tokens (including a 2% staking fee, totalling 76,500 $PAID). This must be arranged at least 25 hours before opening, and your PAID tokens must remain staked throughout the Umoja Crowdfunding.

Allocation Guarantees: Your allocation in Umoja will be based on the total funds in the EarlyPool divided by the number of participants staking 75k $PAID. For Umoja the guaranteed allocation amount per 75k $PAID staked is $717.27.

Join the EarlyPool

  • Date: May 15
  • Open Time: 11am UTC
  • Size: $1,200,000
  • Close Time: 24 hours
  • Guaranteed allocation: $717.27
  1. Log into Your Ignition Account: Ensure your KYC is complete (if investing more than $1,000) and your wallet is linked. Be sure to connect to the correct blockchain, as the crowdfunding event for UMOJA will be hosted on Arbitrum.
  2. Access the EarlyPool: To participate, click on the “Join Pool” button.
  3. Confirm Your Contribution: A pop-up will prompt you to verify the USDC you plan to contribute. Remember that a 15% Ignition Fuel will later be deducted from your contribution.
  4. Finalise Your Contribution: Input the amount you wish to contribute, accept the terms and conditions, and click on ‘Join Pool’.
  5. Transaction Verification: Your wallet, such as MetaMask, will ask for your confirmation to proceed with the transaction.
  6. Check Your Transaction: Monitor your transaction on Arbiscan. Be aware of potential delays due to network congestion. You have the option to accelerate your transaction within the first 24 hours after the Pool opens.
  7. Review Your Contribution: Once your transaction is confirmed, you will be able to see your total contribution and the tokens you have acquired.
  8. Join the OpenPool: If you choose to participate in the OpenPool, note that it is available on a first-come, first-served basis. The Early Pool will close 24 hours after it opens, and any remaining funds will be transferred to the Open Pool.
  9. Post-Crowdfunding Steps: After the Crowdfunding and Token Generation Event (TGE), you can visit the Vesting Portal to view details about your tokens.
  10. Need More Help? Check our FAQ section or contact customer support for further assistance.

About Umoja

Umoja is a groundbreaking DeFi protocol that democratises the creation of structured financial products. By tokenising asset management strategies through “Synths,” Umoja makes sophisticated financial tools accessible to a broader audience. The protocol aims to facilitate automated asset management, making financial wellness as simple as purchasing a token.

Umoja incorporates scalability, risk tolerance, and customisability into its Synths, providing a safer and smarter financial instrument for everyday use. For example, users can interact with synthetic protective (put options) and growth (call options) strategies for Bitcoin and Ethereum. This method ensures a safety net against financial losses with zero liquidation risk, offers 30 times the trading capacity of traditional markets and provides enhanced contract terms and pricing flexibility.

Another standout feature of the protocol is its ability to allow developers to create customised financial products like high-yield synthetic stablecoins, hedged assets, and, most notably — boosted assets, which are investments designed to amplify gains during bullish market conditions.

Umoja’s mission is to facilitate a vast series of wealth-creation tools to create more stability within the Web 3 investment space while making sophisticated asset management as straightforward as buying a token. By embedding advanced trading strategies directly into everyday financial instruments, Umoja enhances the potential for personal wealth growth and ensures that these tools are accessible, transparent, and efficient for global users.

The protocol’s innovative approach includes features like scalability, risk tolerance, censorship resistance, customisability, flexibility, and affordability in ways that will transform how we interact with and manage financial assets in a blockchain environment.

Website | Telegram | Twitter (X) | Gitbook | Ignition Portal

About PAID Network and Ignition

Ignition is PAID Network’s Crowdfunding Platform, where our mission is to connect highly vetted founders with brilliant ideas for curated projects and offerings with crowd-sourced funding and best-in-class incubation tools and advisors to bring the vision of founders and creators to fruition for the benefit of all.

Questions? Connect with Us

PAID Website | PAID Twitter | PAID Telegram | PAID Discord

--

--