Metapoly: Initial Discord Offering (IDO) with Genesis NFT Explained
- 300 exclusive Genesis NFT created for IDO launched through Mintology.Studio around end Feb 2022.
- All NFTs are whitelist only specifically created for early supporters for initial Discord offering.
- NFT holders would be dropped 2500 pD33D options token for D33D.
IDO as known as initial discord offering, is a mechanism to incentivise the early supporters with premium-rate to get involved with the project. Metapoly is going to offer IDO exclusively for its early supporters by NFTs. All NFT holders would be able to get pD33D, which is an invite-only (whitelist) token issued to redeem for D33D token at a later date tentatively in March 2022 (update: postponed due to the extreme market condition and bearish)
What is pD33D?
As D33D can’t be minted and needs to be backed by assets in treasury, Metapoly created pD33D options token for stakeholders, team, early supporters who can help this protocol become a success in the long term. (Read more regarding pD33D here).
How does Initial Discord Offering (IDO) works?
To qualify for an IDO spot, you will need to submit your ERC20 wallet address to get whitelisted. There will be 300 exclusive IDO slots available for the early supporters. Each IDO participant will be able to mint 1 Metapoly Genesis NFT using your whitelisted wallet address. The minting price will be equivalent to $500 worth of ETH (snapshot will be taken the day before the minting). The minters will have to pay the gas fee themselves during this minting process.
Metapoly Genesis NFT is your access to the pD33D tokens, which will be airdropped to the same wallet which holds the NFT. For the paid amount of the NFT ($500), you will be getting 2500 pD33D ($0.2 / pD33D) and subject to the vesting schedule. Read the vesting schedule below.
What is the vesting schedule for the Initial Discord Offering (IDO)?
10% on TGE. Cliff for 30 days and balance is 6 months linear vesting.
On TGE, 10% = 75,000 pD33D will be airdropped to the 300 respective NFT holders (250 pD33D each). After 30 days cliff, the balance of 675,000 pD33D will be distributed monthly for the next 6 months (30th days, 60th day, 90th day, and so on).
Redemption for pD33D to D33D details
To redeem for the D33D tokens, the holders would need to redeem $0.1 per pD33D to exchange for D33D. In short, 1 pD33D + $0.1 to redeem for 1 D33D. Please read more details about the pD33D token here.
How do I get whitelisted for this Initial Discord Offering?
We will start collecting whitelist based on certain criteria to ensure fairness but also exclusivity for early supporters.
For users assigned with an OG role in discord, you will be informed for the detailed criteria in the OG exclusive discord channel from 7 Jan 2022.
The OGs will be given 7 days to complete the tasks to be qualified for whitelist. Then we will open the same opportunity to the rest D33Dgens so they also have chance to participate.
If I’m whitelisted, does it mean I’m guaranteed with IDO spot?
No. We want to be fair with everyone, this is how the IDO works.
We will announce the 1st 300 whitelisted wallet (the 1st 300 to submit after they meet the criteria) before the IDO, and they will be given 24 hours to mint the Metapoly Genesis NFT.
If there’s remaining NFTs after 24 hours, we will open the minting to all the rest whitelisted wallets for another 24 hours. Afterwards, the IDO will be closed.
Can I still get pD33D if I don’t get into IDO?
No, there won’t be any pD33D been distributed to public after the IDO. But team will decide whether to do a fair launch with Copperlaunch.com judging from the demand.
Get in our discord now for the announcement on IDO/ whitelist.