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IEO (Initial Exchange Offering) is a form of selling project tokens on an exchange, then project tokens will be listed on that exchange. This form is very successful on exchanges like Binance (Binance LaunchPad), FTX, Gate.io (Startup).
This article will help you understand the concept of IEO, especially will guide you how to participate in IEO projects on Gate.io.
Conditions of participation
Currently on Gate.io there are 2 main buying methods: Buy by holding USDT or holding DAO tokens.
For projects purchased with USDT, it will be purchased by share (1 share will normally be 20USDT). Only participants from VIP1 and above can participate in buying for this form, and users with higher VIP will buy more shares through the share calculation formula as follows:
Shares=VIP * VIP * 10
- VIP1 can buy 10 shares.
- VIP2 can buy 40 shares.
- VIP3 can buy 90 shares.
Criteria of VIP refer to the table below:
For projects purchased with DAO, there is no need for GATE’s VIP criteria, just hold the DAO. But normally will have to lock the DAO token within 10-15 days (depending on the project). Usually, each project will buy and lock different DAO tokens, with a minimum of 20DAO and a maximum of 20000 DAO.
Instructions to participate step-by-step
Step 1: Access https://www.gate.io/vn/ to login or register for an account;
Step 2: After registering an account, proceed with KYC.
Step 3: Access https://www.gate.io/vn/startup to find and select investment projects;
There are 2 parts:
- Underway: are ongoing projects.
- Finished: are the projects that have been funded.
Step 4: After choosing the project you want to invest in, you complete all the conditions to participate and wait.
- Register Gate.io account and login
- Fill in your information, complete KYC verification.
- Make sure there is sufficient balance of the support currency in the regular account.
- Before joining, you need to sign an agreement
- Waiting for the project to open
Note: For item number 3, there is no need for a green tick, just prepare enough accounts for the purchase.
Step 5: Prepare an account.
- For projects purchased with USDT, USDT must be prepared for payment (note that only VIP1 and above can participate in this type)
- For projects purchased by Locking DAO tokens (locking DAO for 10-15 days), you must prepare both DAO and USDG. DAO and USDG are easy to buy on Gate.io
Step 6: After completing all the procedures, you proceed to deposit the amount.
- Click “Place Order“;
Enter the number of copies you want to buy (divide the number of available DAOs by the amount of DAO deposit);
Press “Confirm Order” To confirm;
Check the results in the Order section below.
The final step is to wait. After the Order time is up, the system will notify the amount of tokens you receive in the “Announcement“.
Above is the entire guide to participate in IEO on Gate.io. Good luck!
WARNING: Investing in financial products carries a lot of risk that may not be suitable for some investors. Therefore, please consider carefully and control yourself before making any decisions that are made up of the contents referenced here. CryptoViet.com.
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