Derived, a pioneer multi-chain synthetics trading platform, has launched its Initial Dex offering (IDO) on Poolz, kicking off on October 13. Poolz is a decentralized cross-chain IDO platform designed to enable crypto projects to secure funding before listing their tokens. According to an initial announcement, prospective investors can participate in Derived’s IDO by joining the whitelist via Binance Smart Chain (BSC) wallets.
The Derived IDO will be a massive step in the project’s journey towards launching a multi-chain synthetics trading platform. This platform will allow users to trade synthetic assets, featuring commodities, stocks, forex and digital assets. In addition, Derived’s ecosystem features advanced trading tools and instruments such as leveraged minting, hybrid assets, binary options, multiple currencies and unlimited liquidity of assets.
Derived IDO Launch
Notably, Derived will launch a dual IDO, with the other set to be hosted on OccamRazer launchpad. As for the IDO on Poolz, Derived has outlined a few steps to guide interested investors. First, prospects will have to purchase a minimum of 250 Poolz tokens to qualify as a participant in the IDO.
The second step is to connect one’s wallet with the Poolz website and lock the tokens for a specific period as long as it is above 7 days. Users can then complete the whitelist requirements by leveraging BSC wallets to confirm the whitelisting transaction. Derived’s whitelist IDO winners will be eligible to purchase the IDO token, after which it will be automatically airdropped. Alternatively, one can claim the tokens manually if they do not show up in their wallets.
As for the selection criteria, the IDO will use a lottery system where every 250 Poolz tokens represent a single lottery ticket. Prospects who buy and stake more Poolz tokens stand a better chance of being selected as IDO whitelist winners. Furthermore, the top 100 Poolz token holders will be guaranteed an IDO and Pre-IDO allocation. Derived will leverage the Poolz leaderboard to display the ranks, allowing the participants to keep tabs daily.