With a few IDOs completed, we thought it would be a good time to write a post to help our users navigate the IDO process and answer some of the most common questions we have been asked. Many of these questions are already answered in our website’s FAQ, however we thought some were worth repeating to make this a one stop shop for all our answers.
How do I get started on KDLaunch?
In order to help you get a smooth start on KDLaunch, we’ve prepared a walkthrough of our platform. In this walkthrough we’ll highlight the following topics:
- Account Creation,
- Attaching your Wallet
How do I create an account on KDLaunch?
- Press the Login button in the upper-right corner, you will be redirected to our login form
- At the bottom of the form, press Sign up
- Choose a username and password and you’ll be redirected back to KDLaunch. You are now registered on KDLaunch!
Which Wallet can I use with KDLaunch?
KDLaunch works with all Kadena wallets, Zelcore, X-Wallet and Chainweaver. If you are new to Kadena and KDLaunch we generally recommend starting with Zelcore as our guides are all written for Zelcore.
How do I update my wallet?
Please note that you can only update your wallet before you register for the IDO. Once you register you will be unable to change your wallet until the IDO is complete.
After logging in, press the button with your account name in the upper-right corner to display the dropdown menu. When you select Update Wallet in the menu, the Provide Wallet drawer menu appears.
Alternatively, if you haven’t set any wallet yet you can also find the update wallet functionality on the account page. When the drawers open, you’ll see the following options:
- Zelcore / Chainweaver: Copy your account from Zelcore or Chainweaver and paste it in the field.
- X-Wallet: The X-Wallet popup will open up and you can finish the connection in X-Wallet.
How do I perform KYC on KDLaunch?
KYC on KDLaunch is being handled by our partner Fractal. Below are the steps to start KYC and get verified:
- Create an account on the platform and log in (see the other faq items for details on this)
- Press the button with your account name in the upper-right corner to display the dropdown menu and select My Account in the menu to visit the account page
- Press the Get Verified Now button. This will direct you to the Fractal portal where you can complete the necessary steps.
- Once you’re done, you’ll be redirected back to KDLaunch and your KYC status will be Pending
At this point you’re done, just sit back and let our partner handle your KYC application. You’ll be updated on progress via email and you can always check back on your account page on KDLaunch for the latest status.
How long does KYC typically take?
Generally we have found KYC to be completed in a few hours. If you do not have a result in 12 hours please get in touch with our KYC provider Fractal at firstname.lastname@example.org and contact us through telegram or discord.
Which countries are excluded for participating in sales on KDLaunch?
Let’s address why KYC is necessary for our platform in the first place.
The KDLaunch platform brings you exclusive access to exciting new projects launching on Kadena. The projects worth investing in are the ones that put in the hard work to build their product first and only raise capital once it is warranted. Launching these projects without KYC jeopardises all their hard work, and ours, by attracting regulators that could shut down the project overnight. KYC is a safeguard for them, and you, and we are truly sorry if your country restricts your access.
Please find below the list of countries that are currently excluded from participation on our platform. This list is dynamic and can and probably will change over time.
Afghanistan, Albania, Barbados, Belarus, Burkina Faso, Cambodia, Canada, Cayman Islands, China, Democratic People’s Republic of Korea (DPRK, North-Korea), Haiti, Iran, Jamaica, Jordan, Mali, Malta, Morocco, Myanmar, Nicaragua, Pakistan, Panama, the Philippines, Russia, Senegal, South Sudan, Syria, Trinidad and Tobago, Uganda, United Arab Emirates (UAE), United States of America (USA), Vanuatu, Yemen, Zimbabwe.
How do I buy the KDL token?
You can buy KDL on our DEX KDSwap at https://www.kdswap.exchange/
Which chains do KDLaunch and KDSwap operate on?
Both KDLaunch and KDSwap operate on chain 1.
How does the IDO process on KDLaunch work?
After creating an account on KDLaunch, submitting your wallet and completing KYC, navigate to projects and open the project you want to participate in. On this page, you will need to follow certain steps, depending on the IDO phase.
An IDO on KDLaunch consists out of the following phases:
In this phase you will be able to register for the IDO, select the amount of staked KDL tokens you wish to lock which will be taken into account for the guaranteed allocation and lottery tickets. Keep in mind that even if you are a Whitelist winner, you will need to register. In the case that you do not have any KDL tokens, just input “0” and register. Only registered wallets will be able to participate in the IDO, even non KDL holders in the Fair distribution phase will need to register.
In this phase, Guaranteed Allocation and Lottery ticket winner allocations will be drawn. You will be able to check your secured allocations on your account page before this round finishes.
Whitelist winners will be able to purchase during this phase, as long as they have successfully registered. You can purchase as many times as you want, for the entire duration of the round, as long as you don’t go over the assigned Whitelist allocation.
KDL holders that have guaranteed allocations or have won allocations will be able to buy during this round. Again, you can buy as many times as you want during the whole phase, as long as you don’t go over the amount allocated to you.
Fair Distribution Round
In this phase users who registered will be able to buy tokens that were not bought in the previous rounds. Each user will be able to buy 1 extra allocation. The priority will be set as follows:
- Users who registered, didn’t have a Guaranteed Allocation, had a lottery ticket but didn’t win and didn’t have a Whitelist allocation.
- Users who registered but didn’t have a Guaranteed Allocation, Lottery ticket or Whitelist.
- Users who already purchased.
After the IDO, you will be able to see how many tokens you have purchased on your account page. Claiming tokens will be available on the project details page, dependent on the project’s timelines.
What do I need to do to ensure I can participate in an IDO?
Make sure you have done the following:
- Ensure you have passed KYC and are showing as verified on the KDLaunch site under “My Account”.
- Stake and lock your KDL (see tier lists below to determine how much KDL you want to stake and lock). In order to lock your KDL it must first be staked.
- Register for the IDO. The registered button must be pressed.
It is vital to ensure you have staked, locked and registered. These are three separate steps.
Can I update the amount of KDL I have locked?
Yes, just navigate to the IDO page and specify how much KDL you would like to add to your locked amount. Please note that you will need to press “Register” again after updating your KDL amount.
When will my locked KDL be unlocked??
10 days after the day that you lock it.
What is the deadline to have my KDL staked and locked and have my registration complete?
We strongly encourage users to have KDL staked and locked and have their registration complete before the end of the registration round to avoid disappointment.
Can I participate in more than one round (i.e. Whitelist Round and KDL Round)?
Absolutely! You can participate in any round you have an allocation in.
How does the Tier System work?
KDLaunch aims to be a Simple, Fair and Balanced fundraising platform.
In a very simplistic way, our tiers are the following:
- Tier 1️⃣ < 75 000 KDL staked: 1 Lottery Ticket for each 5 000 KDL staked
- Tier 2️⃣ ≥ 75 000 KDL staked: 1 guaranteed allocation + 1 Lottery Ticket for each 10 000 KDL staked
- Tier 3️⃣ ≥ 150 000 KDL staked: 2 guaranteed allocations + 1 Lottery Ticket for each 15 000 KDL staked
- Tier 4️⃣ ≥ 300 000 KDL staked: 4 guaranteed allocations + 1 Lottery Ticket for each 25 000 KDL staked
If you want a more detailed explanation please check this blog post here: https://kdlaunch.medium.com/kdlaunch-ido-structure-v1-0-861fc9e16334
Can I use a mobile device for the IDO?
While we recommend using desktop, if you install both kiwi browser and the x-wallet desktop extension inside kiwi browser on your android device, you will be able to sign transactions on our site, allowing you to participate in the IDO using mobile.
We have a walkthrough tutorial of how to register for an IDO and buy KDL:
Our team are always on hand to help with any IDO questions.