The derpDEX IDO Whitelist is live!
This article will walk you through the process and how to apply.
Before we get started, if you haven’t read our deep dive into DerpDex, please do so here. Doing your own due diligence is extremely important and our briefing article should help you get started.
Also, we have recently updated our refund policy and we are excited to announce that DerpDEX have selected to go for our enhanced refund period, which gives coverage for a full 7 days.
Please also be aware this IDO will have a fairly small raise. The DerpDEX team at not looking to raise large amounts, they are well-funded and are focused on their launch. However, they wanted to give the opportunity for interested IDO investors to get in before their token goes public. This means the final whitelist will be quite small.
DerpDEX is locked in to launch on November 22nd. Exact timing is to be confirmed.
DerpDEX has confirmed a top 12 exchange for their listing and they might have another in the pipeline…
They have a leading market maker supporting them on their launch.
Find out more about DerpDEX in our briefing here.
This is where you apply…
Please note, that the DerpDEX IDO will be on BSC. We support MetaMask, Trust Wallet, OKX Wallet and Coinbase Wallet. (DO NOT USE AN EXCHANGE ADDRESS). You will be asked to enter your wallet address during the KYC process.
We have strived to make the Whitelist process as simple as possible by limiting it to the completion of a number of basic tasks. We have put these tasks in an easy to follow form here.
- To be entered into the DerpDEX Whitelist you must complete all tasks on the form and pass KYC
- SXS tier holders need to complete all tasks and pass KYC, even if you are an SXS legendary tier holder and have a guaranteed whitelist place!
- All applicants will be checked to ensure that they have completed the required tasks
This DerpDEX whitelist is open to the general public. Please follow the actions in the whitelisting task form for your chance to win a space.
However, if you are an SXS tier holder, you have a far higher chance of being whitelisted. Find out all about SXS tier benefits here.
SXS tier benefits will be live for the DerpDEX IDO. The two major benefits of being a tier holder are:
- Significantly increase your chance of being whitelisted
- Massively increase your guaranteed allocation
Why do we ask for KYC
On the form you will be asked to complete KYC. All IDO participants need to successfully complete KYC and all projects that IDO with us have to complete this too.
KYC is here to prove who you are and where you are from. You will not be able to participate in an IDO if you do not complete KYC successfully
Our KYC partner is Fractal and doing your KYC is very easy. All you need is:
- Your email and your Wallet address, the DerpDEX IDO will be on BSC, so please make sure you have a supported wallet.
- KYC documents; these are usually an official ID such as a passport or driver’s license and a proof of address such as bank statement or official government letter. More information on this is given as you go through the KYC process.
If you have done KYC before then Fractal have provided a helpful guide for re-doing your KYC. Please just ask our moderators, in our Telegram channel, for it.
If you have any issues with your KYC at any point, please contact Fractal direct:
Note that at no time will Fractal, Sphere or DerpDEX ever ask for funds.
On November 16th at 11 pm UTC, the whitelist will close and participants will be selected following KYC and task verification.
Winners will be emailed on November 17th at 10 am UTC
The IDO will start on November 17th at 4 pm UTC
The IDO will close on November 18th at 4 pm UTC
DerpDEX is set to list on November 21st
All our IDOs will be two-phase IDOs:
- First phase is guaranteed allocation and is open for 12 hours. In this phase the higher SXS tier you are the higher the guaranteed allocation you will have. Non SXS tier holders/ general public who win a whitelist place will get a guaranteed allocation, but it will be at a lower amount.
- Second phase is first come first serve and is open for 12 hours.
The IDO rate is $0.0000001 per token, with 30% unlocked at TGE and then 70% vested for 3 months, starting 30 days after launch with linear vesting.
The listing price will be 10% higher than the IDO price
There will be a special airdrop for IDO participants. Details to be announced, but it is set to be big!
There will be an individual cap per user.
Please be aware that our refund policy for this IDO will be for the first 7 days post launch. You can review our full refund policy in the section below. DerpDEX requested to take up this enhanced refund policy.
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:
We take the protection of our community very seriously. It is with that in mind that we have put in place a refund policy that covers all IDOs that we do. Please review the refund policy here.
Please note that the policy period for this IDO will be 7 Days.
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.