Launchpads are becoming popular nowadays. It brings democracy to the token sale of new crypto projects by allowing common users to participate in the token launch. Your allocation depends upon your tiers in the Launchpad platform. The higher amount you have staked, the higher will be your tier, and hence your allocation. MEXC exchange has its own launchpad. MEXC users can participate in project launching organized by the platform. It gives easy access to MX token holders to invest in new crypto projects.
So, in this article, we will explain what are the basic steps that users need to follow to participate in projects launched on the MEXC exchange.
You can also read our detailed guide (part 1, part 2) on how you can use the MEXC exchange platform here.
Basic Steps To Follow To Join MEXC Launchpad
Each launchpad activity in MEXC generally follows the below basic steps:
- MEXC Launchpad Snapshot Period
Users need to hold the MX token in their spot account for 4-5 days. The platform randomly takes a snapshot of users’ holding of MX token in one day. It then calculates the mean of the user holding for this period and allocates the same amount to the users to invest in the launchpad. During this time frame, users may add/remove tokens if they wish. Note that, any changes in their holding will impact their potential allocation.
- Subscription Period of MEXC Launchpad
Subscription is a 24hr time frame. When open, eligible users need to sign the Token Purchase Agreement that counts their commitment to deposit their tokens towards the new project. Users can click on the Commit Now button to commit the amount (less than the max of their allocation) that they wish to deposit to the project.
- Launchpad Tokens Distribution
Wait for the token distribution event to claim your allocated tokens.
- Trading Period
Once you have received the token and the trading is live, you can trade the token in the market.
Buy The MX (MEXC) Token
The first step to participating in the launchpad is to acquire the MX token as this feature is only available for MX token holders. Users need to hold the MX token in their MEXC spot account. They can buy the token from any of the below-supported platforms. The easiest is to just buy it on MEXC.
However, they need to hold the token in their MEXC account to be eligible for participation in Launchpad activities.
Users also need to go through the KYC verification process to become eligible for participating in Launchpad. So, make sure you have done your KYC if you plan to participate.
Access The MEXC Launchpad
To use the Launchpad, visit the website. Login to your account, now go to Earn-> Launchpad. You will see the below screen.
Currently, no project is in planning for a token launch.
For any upcoming project launch, you may find a reverse timer clock that displays the time remaining for the token launch. So, keep an eye on the upcoming project launching event.
When the timer hits the project launch event, the Participate button will be enabled. You can hit that button to participate.
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How To Calculate Participation Limit
Users can check their own limits for any launching project. Your allocation is decided by following the below rules:
Allocation = Your Individual committed MX / Total committed MX by all participants) * Total Project tokens to be sold on Launchpad.
The amount of MX to be deducted= (participant’s final token allocation *Project Token*IEO price) / MX average price
Users need to have enough MX tokens in their accounts to claim all the allocated project tokens. Note that, once you commit to depositing the MX token into the pool, it will be temporally locked.
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by MEXC. Copyright Altcoin Buzz Pte Ltd.
