Multi-chain synthetics trading platform, Derived, has debuted its Initial Dex Offering (IDO) on Poolz, a decentralized cross-chain IDO platform. Derived had confirmed through an earlier medium post that the IDO will be available from October 13. Interested investors can join the whitelist through their Binance Smart Chain (BSC) wallets.
The IDO launch marks a significant milestone in Derived’s roadmap, with the project set to deploy smart contracts for its multi-chain asset protocol. Notably, the Poolz IDO platform is experienced in assisting crypto projects to raise funds before token listing. This cross-chain IDO platform is also integrated with multiple blockchain networks.
Derived IDO on Poolz
Prospective investors can participate in the Derived IDO by following a few simple steps. The first step is to buy at least 250 Poolz to become eligible for participation, after which one will be required to go to the Poolz website and connect their wallets. The third step is to lock the Poolz tokens for a desired period, with the minimum locking period set at 7 days.
Once a prospective IDO participant has locked their Poolz tokens, the next step is to complete the whitelist requirements by confirming the whitelisting transaction on BSC. Finally, Derived IDO whitelist winners can purchase the IDO token and claim an airdrop if the tokens are not automatically airdropped.
According to the Derived IDO announcement, the process of allocating IDO tokens will follow a lottery system. For every 250 Poolz locked, a prospect earns one lottery ticket. This means that IDO participants with more locked Poolz tokens have a higher chance of winning. In addition, the top 100 Poolz token holders will have a guaranteed IDO and Pre-IDO allocation.
Poolz is the second IDO platform where Derived will debut; earlier, the project announced another IDO to be hosted on OccamRazor launchpad. This IDO will also launch on October 13.
The Future of Trading Synthetic Assets
Derived is designed as a next-generation synthetics trading platform, leveraging the power of smart contracts to link traditional markets with crypto. This decentralized multi-chain asset protocol will allow users to trade various financial instruments; commodities, stocks, forex and cryptocurrencies. It is also noteworthy that Derived will support several major chains, including Cardano, Avalanche, Ethereum, Polkadot and Binance Smart Chain.