🌓
PALM Economy
  • 🌓Welcome to the Palm Economy
  • āš–ļøPalmyra platform
    • What is Palmyra?
    • Who can use Palmyra?
    • Why should i use Palmyra?
    • Roadmap
  • Real World Assets
    • What are Real World Assets (RWAs) and why are important?
    • Ceylon Tea as the first RWA on Palmyra
    • The Future of Real-World Assets on Palmyra: Beyond Ceylon Tea
  • šŸŖ™PALM Tokenomics
    • PALM token
    • How can i get PALM?
    • PALM Token Roadmap
    • PALM TGE - Token Generative Event
    • PALM Tokenomics FAQ
    • How to Redeem PALM token after TGE
  • ISPO
    • šŸ”„PALM ISPO
      • Rewards & NFT Airdrop
      • Bonus Reward Program Breakdown
      • Exclusive NFT Airdrop for PALM ISPO Participants
    • ISPO Educational Information
  • šŸ“ŠIDO - Initial Distribution Offering
  • 🄸Understanding the PALM Initial Distribution Offering (IDO) Process
  • šŸ“„Understanding Whitelisting in IDOs
  • šŸ¤Embracing Interoperability: The PALM IDO Round Explained
  • 🪪Navigating the KYC Landscape for the PALM Token Initial Distribution Offering (IDO)
  • Important Documents
    • Palmyra Litepaper
    • Palmyra Whitepaper
    • PALM Tokenomics
    • Endeavor Litepaper
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Understanding Whitelisting in IDOs

Whitelisting in the Initial Distribution Offering (IDO) context is a pre-selection process where potential investors are vetted and approved to participate in a new token sale. It's designed to ensure a fair, secure, and orderly investment process.

On this article, we will go over some generic information around whitelisting in IDOs and what you'll need to know in order to participate: šŸ” Why Whitelisting?

  1. Fair Access: Helps prevent automated bots and unfair buying advantages, ensuring equal opportunities for all.

  2. Enhanced Security: By vetting participants, it adds an extra security layer against fraudulent activities.

  3. Community Focus: Rewards and prioritizes the project's active and loyal community members.

šŸ“ The Whitelisting Journey

The process typically unfolds as follows:

  1. Announcement: Projects announce their IDO and the whitelisting criteria, usually on their official channels.

  2. WL Application: Prospective investors submit their applications, often including basic info and completing certain social tasks.

  3. Review: Applications are reviewed against the project's criteria, such as country of residence, wallet history, or prior support.

  4. Notification: Successful applicants are informed and receive instructions on how to participate in the IDO.

  5. KYC Compliance: To comply with regulations, participants might need to complete a Know Your Customer (KYC) process.

  6. Allocation: Whitelisted individuals are allocated a specific amount of tokens they can purchase during the IDO.

  7. Participation: On the IDO day, participants buy tokens within their allocation limit, typically through a decentralized exchange (DEX).

  8. Distribution: Tokens are distributed to the participants' wallets, marking the completion of the IDO process.

šŸ”‘ Key Takeaways

  • Whitelisting is a fundamental step in the IDO process, ensuring fairness and security.

  • It involves several stages, from application and review to KYC compliance and token allocation.

  • The process benefits both the project and its community, providing a structured and equitable way to distribute new tokens. We will be releasing more specific information around the PALM IDO and what are the exact steps, in the following days!

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Last updated 1 year ago

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