MemePad’s Launchpad platform has officially launched. Learn how to participate in our upcoming launches.
The first-ever MemePad IDO ElonDoge will be available for purchase for all MEPAD stakers beginning at 10 PM EST (NYC time).
The process of getting an allocation in the sale is very simple, and requires much less work from the end-user than many other launchpads.
This guide will explain in detail the process of staking your MEPAD tokens, how “Freezes” work for staking, staking tiers and the token sale.
1: Staking in the official MemePad Attendance Pool
The “Attendance pool” is named this because it serves the purpose of tracking your staked MEPAD amount, which will be used in determining your maximum allocation size during the sale of any launchpad.
In addition to taking attendance for launchpads, the MemePad Attendance pool also gives users an average APY of around 80% in the form of MEPAD rewards.
The MemePad Attendance pool is very simple, and has almost none of the barriers or drawbacks that other IDO Launchpad staking pools have.
- No Minimum Stake Amount
- No Maximum Stake Amount
- No “Cooldown Period” or delay in Unstake
- No Minimum Stake Period
All of our attendance for IDO Launchpads will be derived from the staked amounts in this single pool, which also means that you can keep your MEPAD tokens staked in this single pool for as long as you wish, and automatically be enrolled in each and every launchpad on the MemePad platform.
2: Attendance Pool “Freeze” Period
While there is no minimum staking time in the attendance pool, there is a period of time that the pool will be “Frozen” slightly before and after each Launchpad sale.
This is done to prevent the abuse and manipulation of the MEPAD token by having people purchase MEPAD before a Launchpad event, and then proceed to dump large amounts of the token soon after the sale is completed.
All MemePad attendance pool functions will be disabled temporarily during a “Freeze” state. This includes deposits, withdrawals, and collecting rewards.
However, during a Freeze, APY rewards will continue to accrue for all stakers during the freeze period.
At the moment, we plan on making the Freeze period last between 24–48 hours. Details will be announced on our Twitter and Telegram channels.
This Freeze period is important to be aware of, as anybody who is not staked in the pool before the Freeze begins will be left out of the launchpad sale.
If you stake your coins in the attendance pool long-term, you will not have to worry about Freeze periods, as you will not need to be aware of when to enter/exit the pool. But if you are only staking in the Attendance pool to get an allocation in a launchpad sale, you must be aware of the Freeze period, so as not to be excluded from the sale.
3: Staking Tiers
MemePad currently has three tiers for stakers to be classified as:
- Pleb Tier: 10,000–68,999 MEPAD Staked, Pool Weight of 10 and Lottery System for Allocations
- Chad Tier: 69,000–419,999 MEPAD Staked, Pool Weight of 100 and Guaranteed Allocation
- Elon Tier: 420,000+ MEPAD Staked, Pool Weight of 1,000 and Guaranteed Allocation
Staking your MEPAD tokens into the “Attendance Pool” automatically records your staked amount and classifies you as either a Pleb, Chad or Elon in our internal MemePad database.
If you have less than 10,000 MEPAD staked, you will not be able to participate in the launchpad sales, but you are able to stake for the benefit of APY rewards.
There is no benefit to spreading your coins across multiple wallets and staking int he attendance pool. Our model makes it more beneficial to have all of your coins staked from a single wallet, as opposed to many.
4: MemePad Tier Ticketing Model
MemePad has incorporated a “Ticketing” system that makes it easy to understand the size of an allocation each staker can expect to receive in each sale.
The term “Ticket” refers to a fixed-size allocation per tier. Here is an example:
1x Elon Ticket = 420,000 MEPAD
1x Chad Ticket = 69,000 MEPAD
1x Pleb Ticket = 10,000 MEPAD
User A stakes 500,000 MEPAD in the MemePad Staking Pool.
User B stakes 80,000 MEPAD in the MemePad Staking Pool.
User C stakes 30,000 MEPAD in the MemePad Staking Pool.
Now we will break down the numbers to show the amount of “Tickets” each user in this example would get.
User A (500k staked)= 1x Elon ticket(420k), 1x Chad ticket(69k), 1x Pleb ticket (10k). 420+69+10 = 499. Total staked is 500k. There is 1k left over, which will not be applied to any ticket.
User B (80k staked) = NO Elon ticket(420k), 1x Chad ticket(69k), 1x Pleb ticket (10k). 69+10 = 79. Total staked is 80k. There is 1k left over, which will not be applied to any ticket.
User C (30k staked) = NO Elon ticket(420k), NO Chad ticket(69k), 3x Pleb ticket (10k). 10 + 10 + 10 = 30. Total staked is 30k. There is 0 left over.
Using the total amount of Elon tickets, chad tickets, and pleb tickets will allow for easy calculation of allocation sizes.
For example, each Elon ticket could represent 0.5BNB Purchase allocation in a sale, while each Chad receives 0.06BNB allocation. Using these numbers, you would be able to calculate your expected allocation size if you had 2x Elon tickets, or 1x Elon and 1x Chad. These numbers are for example purposes only, and the allocation sizes vary depending on the project.
For Pleb tiers, each ticket has a random chance of being selected. The amount of Plebs accepted varies based on several factors. If you are selected as a Pleb to have an allocation, you will see it on the “View Project” page on the right sidebar on “My Allocation”.
5: Launchpad Sale and Swap Process
After the countdown ends for the project sale, the sale will immediately become “Live”.
During this time, you can now purchase the coin for sale, up to a maximum of your allocation.
There is no minimum purchase amount if you have an allocation, but there is a maximum (your allocation size).
To begin, press the “Purchase” button on the right sidebar of the project page. Next, enter in the amount of BNB you would like to swap with the coins, and press the “Swap” button.
After you purchase the coins, they will not become immediately available in your wallet. There is a small waiting period until MemePad sale participants can claim their tokens.
This is done to prevent any MemePad sale participant from listing the token on PancakeSwap before the token issuer or project admins have the ability to properly list the token with the correct liquidity.
The waiting period depends on each project and their terms, but typically the tokens will be available to be claimed 30 minutes to 1 hour after the sale on MemePad has completed.
On the same sidebar you swapped your BNB for the token, there is a small “Claim” button on the bottom of the box that will turn blue when it is ready to be claimed.
6: KYC and Whitelist
KYC is required only if the project launching on MemePad requests it. In the case of ElonDoge, no KYC is required.
In the future, there will be projects who request KYC from all participants. In this case, an announcement will be made well in advance, to allow you to prepare your KYC information.
Wrapping Up
The MemePad platform has many similar features as other launchpads, but greatly simplified with the end-user in mind, making it easy to stake, get launchpad allocations, swap tokens, and claim tokens.
Many more features will be coming soon, as we continue our community-led effort to grow MemePad into a launchpad leader in the space.
