Poolz Launches New Secure IDO Model to Minimize Risk for Users
We have come a long way in offering the most secure, user-focused, and innovative services as an IDO platform. Today marks another major milestone in our journey as we launch a well-thought IDO model, Secure IDO, to maximize user benefits and minimize potential risks.
As a community-first platform, Poolz is excited to share that with the launch of the Secure IDO model, we will release the funds raised by an IDO project in tranches through a pre-planned vesting period.
For instance, if a project raises $100,000 through an IDO on Poolz and has vesting of 20% at TGE, then we will release only $20k every month. This release will also depend on how much progress and development the team shows over that period.
Earlier, releasing all funds to the projects at once put our community’s funds at risk in case teams did not work and deliver on their decided roadmap.
Starting now, projects will only receive the entire funding if they keep progressing and hitting the milestones they have shown in their roadmap.
At TGE users will have 2 option Buttons:
- Claim — The user will get TGE tokens and the rest of the vested tokens will be secured by Poolz: If the token price drops below the IDO price before the future distributions, Poolz will refund automatically and protect your investment!
- Refund — 100% Refund of the allocation (the funds will be sent a few days later)
In case of the project does not adhere to its plans or does not show progress after IDO, we will reserve the right to secure our users’ funds and issue them a refund of $BUSD.
This, however, will only happen in the worst-case scenario when the team shows no motivation to work toward its goal.
By implementing the Secure IDO model, we believe, we are doing right by our users and ensuring that we are only working with projects that are extremely serious about their vision and mission. And as we build the Poolz ecosystem with a very long-term vision, this will help us sustain our services and our community in the times to come.
In summary, from today, there will be two main models in Poolz
- Risk-Free users can ask %100 BUSD refund up to 24 hours after listing — read more here
- Secure IDO — Users can Claim\Refund at the TGE. As a rule, Poolz transfers the amounts raised based on the project’s vesting plan. Upon failure to adhere to the project’s procedures after IDO or if it shows no progress, Poolz is entitled to refund the remaining funds.
*Refund option is available only for the holders that will keep the $POOLX tokens locked during the vesting time period.
Read more about Poolz IDO guide here
