Essential IDO Terms Explained

Navigating the world of Initial DEX Offerings (IDOs) can feel overwhelming, especially if you're new to Web3. At ChainGPT Pad, we aim to simplify the journey by clearly explaining the most important terms you'll encounter.

Here's a straightforward guide to help you understand key IDO-related terminology used on ChainGPT Pad:

IDO (Initial DEX Offering)

An IDO is a decentralized crowdfunding method where new tokens are launched directly onto decentralized exchanges (DEXs) and centralized exchanges (CEX). Participants can purchase tokens at a predetermined price before they're publicly available for trading.

Allocation

Your allocation refers to the amount of tokens you're eligible to purchase during an IDO. Allocation sizes typically depend on your staking tier level on ChainGPT Pad.

Whitelisting

Whitelisting is a registration process participants must complete to be eligible for token allocation in an IDO. On ChainGPT Pad, completing your KYC and staking requirements ensures you're automatically whitelisted for eligible projects.

Register Interest

"Registering interest" involves signaling your intent to participate in a specific IDO on ChainGPT Pad. After you've staked tokens and completed KYC, you'll need to register your interest to secure your allocation spot for the IDO.

Staking

Staking involves locking up ChainGPT tokens ($CGPT) on ChainGPT Pad. Staking determines your eligibility for different allocation tiers. Higher staking amounts typically grant larger token allocations.

Tiers

ChainGPT Pad uses a tiered staking system to fairly distribute token allocations. The main tiers are:

Bronze: Entry-level staking, basic allocation.
Silver: Increased staking requirement, larger allocation.
Gold: Higher staking level, significantly improved allocations.
Diamond: Highest tier, maximum allocation and priority access.

Staking Pools

Staking pools on ChainGPT Pad allow participants to collectively stake tokens, providing additional benefits such as enhanced rewards or priority access to certain IDOs. Pools enable participants to easily manage their staking and optimize their potential allocations.

Launchdrops

Launchdrops are exclusive token distributions offered to ChainGPT Pad users without requiring participation in an IDO. Instead, tokens are distributed solely based on your active staking tier, allowing you to benefit simply by staking tokens and completing your KYC verification—no additional contribution required.

Vesting

Vesting is a schedule determining how and when purchased tokens become available to you. Tokens may be released gradually over a set period.

Liquidity

Liquidity refers to how easily tokens can be bought or sold without impacting their market price. ChainGPT Pad ensures immediate liquidity post-IDO by automatically listing tokens on decentralized exchanges.

KYC (Know Your Customer)

KYC verification is a mandatory identity verification process designed to meet regulatory requirements and enhance security. It involves submitting official documents (such as ID) to confirm your identity.