PAID Network’s IDO Will Take Place on Polkastarter TODAY January 25th at 1PM GMT
PAID Network is pleased to announce our Initial Dex Offering (IDO) on Polkastarter has finally arrived and will be today, Monday January 25th at 1PM GMT.
Polkastarter is a cross-chain token offering platform allowing projects like PAID Network to conduct token sales that lower token holder risk while increasing earnings and rewards potential through a decentralized and interoperable environment.
The IDO follows PAID Network’s successful $2M private sale round led by AlphaBit Fund and Master Ventures in December 2020. Other strategic investors and partners include A195, Phoenix VC, Brilliance Ventures, Duck DAO, and AU21.
These fundraising vehicles will support PAID Network’s continued development of the world’s first decentralized SMART Agreement DApp, offering attorney-free transaction fulfillment from start to finish of your entire business agreement lifecycle.
Our growing investor and partnership network recognizes the value of templated, easily customizable, and tailored SMART Agreements that can digitally document, execute, and enforce business terms linked to your reputation score, which serves as your new credit score within PAID’s DeFi ecosystem. Complete with Arbitrators on standby, randomly selected through Chainlink’s VRF technology to fairly resolve disputes promptly, the SMART Agreement replaces costly legal services for good.
Participants in the public sale will have the opportunity to purchase from three popular emerging trends in the blockchain space — legal tech, DeFi and blockchain interoperability. Interoperability means PAID can seamlessly integrate escrow, arbitration, insurance, and other risk-mitigating transaction management functions into one SMART Agreement on the PAID DApp.
PAID’s IDO on Polkastarter Details
PAID Network’s Initial DEX Offering (IDO) on Polkastarter will take place today January 25th at 1pm GMT. Since Polkastarter’s launch on December 14th, numerous projects have held sold-out token sales, including SpiderDAO, MahaDAO, and Fire Protocol.
Polkastarter leverages Polkadot’s multi-chain infrastructure to run decentralized fundraisings taking advantage of cross-chain token pools and auctions. Purchasers benefit from a number of additional yield-earning opportunities on the cross-chain IDO platform. After the token sale, PAID tokens will be listed on UniSwap, allowing token holders to earn yield through liquidity mining immediately as well as staking on a popular CEX.
The Polkastarter DEX brings “unrivaled liquidity” to its pools in several ways. Automated liquidity is provided to token swaps and pools through the cross-chain liquidity protocol of Orion. Liquidity providers (LPs) are further incentivized by the opportunity to earn rewards in Polkastarter tokens called $POLS.
The PAID IDO had two pools: one for $POLS token holders on Polkastarter and another public pool for non-POLS token holders. All applicants has to join PAID Network’s telegram community and follow PAID Network on Twitter in order to qualify for the IDO.
Public Sale purchasers could only apply to purchase in one of the two PAID Network pools during the IDO in January:
Phase 1 has concluded with over 33,860 applications received! Winners have already been KYC verified and notified via email, PAID Network announced publicly announce the winners Tuesday, January 12th at 1pm UTC in both our telegram community and PAID Network’s announcement channel.
Phase 2 opened January 11th at 12:00 PM UTC and closed Thursday, January 14th at 12 PM UTC.
To ensure an equitable IDO and lower the barrier to entry caused by high gas fees, PAID conducted a lottery to select whitelisters using Excel’s Rand Between. Each applicant could only apply once. If more than one attempt to apply wasmade on one form, the application was rejected.
❗️ONLY ERC-20 wallet addresses were accepted, and only from a personal wallet, not from an exchange.
Please note: Being a whitelist lottery winner means you are eligible to participate in the Polkastarter IDO, however, it does not guarantee you a slot. The IDO will be first come first serve, so set your alarms and be ready! We are conducting a countdown in our telegram and announcement channel. Please be careful of scammers and fradulent PAID telegram communities. CMs will never PM you directly.
Following a spate of high-risk ICOs, the PAID IDO takes advantage of new mechanisms creating a lower risk, more stable token offering environment. Polkastarters cross-chain pooling and liquidity provisioning is one example. Furthermore, PAID’s linear monthly block-by-block vesting mechanism reduces the risk of token depreciation caused by the high sales activity typically following the vesting period of a token sale.
After the IDO on Polkastarter ends, below is the information you need to know regarding PAID’s token distribution (we will be announcing in our telegram channel and announcement channel).
Polkastarter Token Distribution
Date: January 25, 2020
Time: 3:30 PM GMT
PAID Network Uniswap Listing Details
Date: January 25, 2020
Time: 3:30 PM GMT
Trading Pairs: PAID / ETH
⚠️ BEWARE OF FAKE PAID NETWORK UNISWAP ADDRESSES.
⚠️ Only follow the official PAID Network channels and social media for updates.
The team at PAID Network wants to thank our incredible community who has stayed engaged with us on our journey thus far. To stay in the loop with our plans please follow our updates in our Telegram Announcements Channel
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For any questions, please feel free to visit us at https://paidnetwork.com/