FantomStarter is an all-in-one crypto investment platform that allows any Defi, NFTs, and decentralized exchange (DEX) to launch their tokens and raise funds through private/public listing.
Therefore, in this article, you will discover everything about FantomStarter and how to participate in it.
What is FantomStarter?
FantomStarter is an IDO launchpad that operates in the Fantom blockchain. It supports Binance Smart Chain (BSC), Ethereum (ETH), and Polygon (Matic). Also, it provides exclusive benefits to projects that can accelerate their growth. This benefit includes the following:
- Token engineering and security audits.
- Advisory resources (marketing, social media, and branding support).
- Operational support (HR, finance, and legal assistance).
- Access to the project’s partnership ecosystem.
It has a native token, named $FS, that is used in the ecosystem. The project uses multiple tiers to categorize its investors, where they need to stake their tokens or NFTs to become eligible for an IDO allocation.
However, the first thing that investors need to do is to complete the KYC process with Fractal ID by providing the National Identity card or the residential proof of address. Then, investors need to apply for project whitelisting to confirm their participation in their IDO. You can find more information about the KYC process and IDO allocation in this article. Now that you know the requirements to participate, let’s follow with the next steps:
Step 1: Get The $FS Token
The FS token is currently available in the SpookySwap platform with FS/USDC and FS/WFTM token pair.
Similar to other IDO platforms, FantomStarter also uses a tier-based system to categorize their investors and their allocation. The protocol uses a 7-level tier system where investors can stake their $FS Token or tiered NFT to guarantee their allocation in the new launching projects.
Note: The tier mechanism may change for every project or be updated with time.
Step 2: Stake FS Token or FS Key
Once you have acquired sufficient FS token or NFT, investors need to stake it in the protocol. There, you need to go to the staking page. Now select your desired option i.e $FS Tokens or NFT tier, and confirm the process.
Investors can stake and immediately participate in any projects whose whitelisting process is undergoing. However, if they wish to unstake their tokens before 7 days, then they will have to pay a penalty of 10% from the staked amount.
Upcoming Projects Details and WhiteListing & Allocation
Once the project has started its whitelisting process, investors need to confirm their participation by clicking on the Participate button. Then, whitelisted investors are allocated to buy tokens depending upon their tiers.
In FantomStarter, investors can mainly purchase the launched token with USDC. So, make sure you have enough USDC and FTM (to pay gas charges) tokens to carry out the token purchase process.
Step 3: Token Swap
The token swap happens in the Fantom Opera network. To do it, you need to connect the same wallet used for whitelisting and KYC. You need to be sure that your wallet has enough USDC and FTM tokens to buy the allocated project token.
Once the IDO starts, go to the pool, and Approve and Swap the project token with USDC.
On the other hand, some projects also organize FCFS or community round. The FCFS round is conducted only when the token didn’t get sold out completely via the private and public pools. For FCFS, only NFT FantomPass holders and investors who have whitelisted using the FantomStarter app are eligible.
Note that with this step, you will not receive the token immediately. This means that the launched token is just booked, so investors need to wait until the project starts the token claim process.
⭐️ANNOUNCING PRODUCT UPDATE⭐
We'd like to thank our community🥇 for helping raise over $1million in the first 5 projects on #Fantom.
— FantomStarter 👻 (@fantomstarter) January 1, 2022
Step 4: Tokens Claim
The token claiming will take place according to the vesting schedule stated by the project. Tokens can be claimed only via the FantomStarter app. To do it, investors need to log in to the application with their wallets to complete the claiming process.
Once you complete the transaction, the tokens will be visible in your wallet. If not, you can copy the token contract address from the block explorer, and manually add it to see the tokens. More information is in this guide.
FantomStarter Launched Projects
Some of the projects launched on FantomStarter includes:
- Moda DAO
- Escrow Protocol
Join us on Telegram to receive free trading signals.
For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.