Participating in the Pollen DeFi x Launchpool token sale.
We will be conducting a token sale on Launchpool starting 8th November. Some of you may be new to the launchpad, so we decided to put together a guide on how to prepare yourself before launch and use the platform and guarantee an allocation of the Pollen ($PLN) governance token.
By now you may have heard of the Pollen x Launchpool partnership for the upcoming sale of the Pollen ($PLN) governance token. We are incredibly excited to be teaming up with such a like-minded launch platform. We are a community driven protocol, so it only makes sense that we collaborate with a launch platform that put their community first and ensure everyone gets a fair chance at an allocation.
For more information on the partnership and Launchpool, you can find our Medium article here.
But now for the more technical information. Dates and launch detail can be found directly below. Later in the article we explore the preparation needed to participate in the raise, as well as the tokens you will need.
Details of the sale:
Allocation Mining Event (AME):
- Process begins on Monday 8th November
- Process ends on Wednesday 17th November
- Precise times will be available on the Pollen DeFi page on Launchpool.xyz on the morning of the 8th November
Launchpool token price: $0.5 USD per $PLN
Size of raise: $750,000 USD
Full tokenomics and vesting schedule will be provided before the Allocation Mining Even (AME).
Preparing to participate
There are multiple steps required to take part in the Launchpool raise. That is why we suggest that our Pollen hive-mind start preparing themselves now, to ensure that everything is in place in time for the raise.
To participate in the Launchpool raise please follow these steps:
- Go to Launchpool.xyz and complete KYC. We cannot control the regions that are able to KYC. If you experience issues with the KYC process, please contact the Launchpool support channel.
- Please KYC and register NOW. Do not leave it until the last minute.
- To participate in the Launchpool raise you will need tokens on the Binance Smart Chain. What steps does this involve? See below.
Setting up on Binance Smart Chain
$PLN tokens will exist on the Ethereum chain. They will be claimed directly onto the Ethereum chain after listing (scheduled for Q1 2022) according to the vesting schedule (which will be supplied ahead of the Launchpool Allocation Mining Event).
The raise is conducted by Launchpool on BSC. This keeps the cost of transactions low for participants.
- Step A: Set up your wallet. Here is a link to an article that will show you how to configure your MetaMask wallet to the Binance Smart Chain.
- Step B: You will need a total of 3 tokens in your BSC MetaMask wallet: 1. $BNB (Binance token) 2. $LPOOL (Launchpool token) 3. $BUSD (Binance USD token)
$BNB Used for gas (similar to Ethereum — The Binance Smart Chain (BSC) is a fork of the Ethereum chain, with BNB replacing ETH as gas). You can send $BNB from a Binance account to your Metamask wallet. 0.1 BNB will very likely be enough to cover all gas costs.
$LPOOL Staked in the Launchpool smart contract to mine an allocation of the $PLN token. You can stake in 3 pools — 50 LPOOL, 250 LPOOL and UNLIMITED LPOOL.
To illustrate, the medium sized pool allows a maximum of 250 $LPOOL to be staked. This can earn anything between $100 to $400 of $PLN, but is dependent on a number of factors; including the number of other participants, the length of time mining etc. You can enter multiple pools, so for example fill both the 50 and 250 pools.
The contract address on Binance Smart Chain for $LPOOL: 0xcfb24d3c3767364391340a2e6d99c64f1cbd7a3d
$BUSD This is how you will pay for your $PLN allocation after it is ‘mined’. This payment window opens on the 14th/15th November, and the payment window stays open for 72 hours.
Ensuring You Are Set Up
There are two approaches to making sure your wallet has the appropriate tokens to take part in the launch.
Purchase $BNB on an exchange — like Binance — and send it straight to your wallet via the BSC network,. Then switch the $BNB to the tokens you need on PancakeSwap (the BSC equivalent of UniSwap DEX).
You could also opt to bridge tokens from Ethereum to BSC using a bridge like AnySwap. You will still need $BNB in your wallet as gas for transactions after the swap.
PLEASE NOTE: $PLN is an Ethereum chain token. You will claim vested $PLN directly onto the Ethereum chain via the Launchpool DApp after mainnet. Only the raise mechanics take place on BSC.
PREPARE NOW: This can take under an hour to do IF you have all the pieces in place, but roadblocks may be present with KYC, setting up wallets and getting gas into your wallet. We suggest that you give yourself at least a week to make sure the necessary steps are completed.
PROBLEMS? If you have technical issues or KYC issues please contact Launchpool support channel.
To the Launchpool community who are completely new to Pollen DeFi, we cannot wait to have you on board. I’m sure we speak for the entire Pollen community when we say:
Welcome to the Hive-Mind.
We think that about wraps up the guide. Thank you for stopping by. You can read more about Pollen DeFi at Pollen.id