Congratulations, you are a whitelist place winner.
Now it is time to take part in the DerpDEX IDO!
Before we go into the IDO details, there are two areas below, that we want to ensure you take note of.
Firstly, our refund policy. This IDO is covered by our enhanced refund policy, which is active for up to 7 day. No investment is risk free, but our refund policy is put in place to the help provide a safety net for the early stages post launch. It is very important you review the refund policy here.
Secondly, doing your own research is very important before you take part in any IDO. We have done a deep dive article here and we did an AMA with the DerpDEX team here. We would suggest you read both of these.
The due diligence we do in no way should replace the research you do. Any investment you make, is up to you and you must be comfortable with the risk.
Now onto the IDO information.
All IDOs we run have two phases:
- First phase is guaranteed allocation and is open for 12 hours
- Second phase is first come first serve and is open for 12 hours
Phase one will start on November 17th at 7pm UTC and will finish on November 18th at 7am UTC.
Phase two will start on November 18th at 7am UTC and will finish on November 18th at 7pm UTC
IDO and Listing rate
The IDO rate is $0.0000001 per DerpDEX token, with 30% unlocked at TGE and then 70% linear vested for 3 months, starting 30 days after launch. Note there will be an individual cap per user.
DerpDEX will be listing on November 22nd and the listing price will be $0.00000011 per token, which is 10% higher than the IDO rate.
Please note that the DerpDEX token is ERC-20 based. However to help keep gas costs low for our community, this IDO will be on BSC using USDT.
DerpDEX have announced that all IDO participants will receive a 10% token bonus. This will be calculated on the final purchase amount and will be given out, via an airdrop, after the initial 30 day cliff.
- Name: DerpDEX
- Purchase with: USDT
- Chain: BSC
- Symbol: DERP
- Token IDO price: $0.0000001
- Token Lockup:
30% unlocked at TGE
70% linear vested for 3 months, starting 30 days after launch.
- Swap Ratio: 1 USDT = 10,000,000 DERP
- Minimum Raise: 10,000 USDT
- Maximum Raise: 20,000 USDT
- Reach Goal: 30,000 USDT (unlocked automatically when maximum raise reached)
- Phase 1 start : November 17th 19:00 UTC
- Phase 2 start: November 18th 7:00 UTC
- November 18th 19:00 UTC (Total 24 hours IDO)
Max Supply of DERP (to be sold on Sphere):
Allocation per whitelist place:
- Phase I — Min allocation: 50 USDT; max allocation: dependent on SXS tier held (see allocation breakdown below)
- Phase II — Min allocation: 50 USDT; max allocation: 2,000 USDT (FCFS single swap — Whitelist)
Max allocation breakdown:
- Non SXS tier holder: 84.26 USDT (Guaranteed single swap — Whitelist)
- Basic tier: 150 USDT (Guaranteed single swap — Whitelist)
- Common tier: 200USDT (Guaranteed single swap — Whitelist)
- Rare tier: 250 USDT (Guaranteed single swap — Whitelist)
- Elite tier: 500 USDT (Guaranteed single swap — Whitelist)
- Legendary tier: 1,000 USDT (Guaranteed single swap — Whitelist)
DerpDEX Swap Guide
Please follow the following steps at 4pm UTC on November 17th. If you do them before it will show you as not whitelisted as the IDO is not live until the start time.
- Winners will first come to https://www.spheresxs.com/swaps
- Select DerpDEX
- Connect your wallet.
- Once the Swap has commenced, enter your desired USDT (allocation levels for phase I and II above).
- That’s it!
For this IDO we recommend taking part in an IDO via a desktop or laptop. We have tried a variety of mobile testing and it is not always working seamlessly.
Both MetaMask and Trust Wallet have a Browser access function, this can be done via clicking on the Browser button, which can be found in the bar at the bottom on both apps.
Our site is setup to ensure this work and you simply enter the swap URL: https://www.spheresxs.com/swaps You then follow the steps as per the Swap Guide above.
If you are unsure of how to do any of the above, there are many useful videos that can be found on Youtube that give clear step by step guides.
However, we do recommend taking part in an IDO via a desktop or laptop only.
Additional important points to note:
- The Sphere enhanced refund policy will be in place for this IDO. Details on the policy can be found here
- Sphere holds all raised funds until after completion of the refund period, so your funds are 100% secure during this period
DERP claim at DerpDEX launch
- Claiming will be live on November 22nd at 12pm UTC
- The claim for all IDO participants will take place on our site via the airdrop portal.
- DERP is an ERC-20 based token, as such the claim will be via Eth not BSC.
- Details, including the exact time, link to the portal and the process when you get there, will be shared with our community in our official Telegram Channel on November 21st.
Question not answered?
Please speak to our fantastic team of moderators and community ambassadors on Telegram here. They are there day and night to answer any questions you have.
Continuing the Dialogue with Sphere
If there is anything else you’d like to know, or you simply want to say hi, please engage in our various channels:
IDO — the risks
Any investment has risk and an IDO is no different. It is important to us that you understand the risks associated with taking part in an IDO. Please read the article we have put together here, before taking part in any IDO. The article looks at some of the risks and why it is so important you do your own research and due diligence.
Beware of Telegram, Online and Twitter groups trying to impersonate Sphere. Always ensure you are on our official channel or groups.