ZeroSwap has recently announced the launch of their DEX platform – the ZeeDO mainnet and Staking platform – through their Medium page.
With the ZeeDO mainnet launch, the ZeroSwap platform is offering the following two facilities to its users:
- Community Distribution Sale of $ZEE
ZeeDO is a Dex Offering Platform that will allow new projects to launch tokens on multiple chains. With the ZeeDO mainnet launch, the platform first chose to announce the community distribution sale (IDO) of their 200,000 $ZEE tokens at $0.60 each. The token sale is over now.
- ZEE Token Staking
Users can stake their ZEE tokens by using the ZeroSwap staking facility and earn rewards. Staking tokens will give you exclusive access to ZeroSwap’s product suite, including ZeeDO. By staking tokens, users can get access to the token launch sale. Different projects have a different minimum staking amount criteria for getting a ticket.
Users can stake $ZEE ERC-20 and BEP-20 standard tokens on ZeeDO mainnet.
We will explore both these facilities in this article.
Usage Guide (ZEE Token Staking)
To stake your ZEE tokens, go to the Zeroswap page.
From the Products tab, you can check and choose the product that you want to use.
To stake your ZEE tokens, Click on Staking, and it will redirect you to the appropriate page.
Connect your MetaMask wallet.
Once your wallet is connected, you can see the available ZEE tokens in your wallet that you can use for staking.
Click on Approve. A MetaMask transaction is triggered. Confirm the transaction. Once the approval transaction is done, you are allowed to stake the desired amount of ZEE tokens.
Enter the amount of ZEE tokens that you wish to stake and hit the Stake button. A MetaMask transaction is generated that you need to confirm. Once the transaction is done, you can see your staked ZEE token details.
Users will receive 64% APY for the next 90 days as rewards for staking their ZEE tokens, which will be displayed in the reward section.
At any time, users can unstake their locked tokens. We didn’t find any option for partial unstaking. Hence, users are required to unstake their entire locked token amount whenever required. The platform has a bonding period of two days for token unstaking. That means, once you unstake your tokens, you will receive them within 48 hours.
Usage Guide (ZEEDO)
Select ZeeDO from the products list, and it will redirect you to the appropriate page.
You can see the list of projects available where you can participate in the initial token sale.
The ZeroSwap platform has recently announced the sale of the Oddz Finance Token ($Oddz).
Notice that the Oddz token ($Oddz) sale is available for both the ETH and the BSC (Binance Smart Chain) community users. You can stake as much as you want, but users are required to stake a minimum of 2,500 ZEE tokens to get 1 ticket. So, if you are staking 5,000 ZEE tokens, you will get 2 tickets and so on.
Procedure to Participate in ZeeDO
Users are required to follow the below-mentioned steps to participate in a ZeeDO token sale. Note that staking ZEE tokens is the mandatory process to participate in any IDO/token sale. So, users are required to stake their ZEE tokens first before participating in any IDOs.
We are not fulfilling the minimum ZEE token balance criteria to receive a ticket. Hence, we will not be able to make a guide on it. But we have explained each step in detail that needs to be followed to participate in any IDO/token sale.
Step 1: Stake your ZEE tokens. The number of ZEE tokens staked should be greater than the minimum amount set by the launching project to get a ticket. If the token sale is available for both the ETH and BSC network, then staking tokens on any network will make you eligible to get a ticket.
Step 2: Now go to the projects page. You can see the list of projects available where you can participate in the initial token sale. Apply for the sale, and you can see your ticket numbers in the UI.
Step 3: A VRF contract, powered by Chainlink, randomly draws the winning lottery tickets in a fair and transparent manner without any manual intervention.
Step 4: Winning tickets will be announced by the ZeroSwap platform. Check your UI if it is matching with your ticket numbers.
Step 5: If you are lucky and among the winners, you can send USDT and receive the sale token. The max number of tokens that a user will receive per winning ticket is already declared by the team during their announcement along with other mandatory sale details.
For the last few months, we are seeing the trend of launching projects via IDO. With ZeeDO, ZeroSwap aims to join the movement by offering a token launching platform to its ZEE token holders. Users need to stake their ZEE tokens to make them eligible for participating in the token sales, along with attractive staking rewards. However, the staking token is not free. Users need to pay the gas charges. The platform claims that the DEX transactions are gasless.
Resources: ZeroSwap Medium blog