F.A.Q.s - ChainGPT Pad
Frequently Asked Questions about ChainGPT Pad
General
What is the ChainGPT Pad?
It is a platform for incubating promising projects that are looking to introduce a token into their ecosystems and launch them via IDOs.
What is an IDO?
IDO stands for Initial DEX Offering. It is a public fundraising method that pools retail users' capital by utilizing a decentralized platform to facilitate transactions.
This model is superior to the preceding ICO model because the platform can provide a higher degree of security for end users by collecting the funding and only releasing the projects after the satisfaction of specific criteria.
What is Crowdfunding / Private Sales?
The crowdfunding/private sale is a very early round of fundraising that takes place right before an IDO.
Typically, just a day or so before an IDO launch. These rounds tend to offer superior rates but also incur prolonged vesting periods.
What is FCFS?
FCFS is the acronym for First-Come-First-Serve, and it refers to the round of fundraising that becomes available to the general public after the guaranteed round.
As the name might suggest, FCFS rounds are based on timing; available token supplies are sold to participants who arrive ahead of others.
What is the Incubation Program?
Providing support, guidance, and accelerating excellence, the ChainGPT Incubation is an extensive, in-depth, multi-month-long program of intense, intimate collaboration between promising projects that are looking to launch into Web3.
IDO and Allocation Policy
Can I participate in IDOs right after purchasing $CGPT?
Almost. Before being able to participate in the IDOs, users must do two more actions. First, once $CGPT is acquired, users must make sure to have enough tier points for inclusion; if yes, then simply staking their tokens in the official Staking Dashboard. Second, they must pass KYC http://url.chaingpt.org/kyc.
Is there a refund policy?
Yes. Every IDO launch will have a “refund grace period” of 7–14 days, allowing participating users added time to evaluate their decisions before finalizing the commitments.
Do I have to KYC in order to access the Launchpad?
Yes. KYC is required for participating at any tier level. The KYC process has been made maximally simple through our partner, Blockpass. To sign up, please follow our official link: http://url.chaingpt.org/kyc.
How is pool weight calculated?
Pool weight is calculated based on the distribution of tier points among participating members and their corresponding tier levels.
Every pool has a structured base range that is dependent on their staking tier points.
Bronze | 1x | 2,000 points — 19,999 points Silver | 4x — 9.99x | 20,000 points — 49,999 points Gold | 10x — 39.99x | 50,000 points — 199,999 points Diamond | 40x + | 200,000 points +
The pool weight indicates how much multiplier is applied to that specific tier level’s allocation capacity.
Bronze maintains a base level of 1x multiplier throughout its entire point range. The Silver, Gold, and Diamond levels pool weights are scaled proportionally to the individual stakers point position within its range. To best understand the mechanism is through an empirical example:
In the event of a Silver tier with 20,000 points, they have a 4x multiplier. In the event of a Silver tier with 35,000 points, they have a 7x multiplier. In the event of a Silver tier with 49,999 points, they have a 9.99x multiplier.
This logic applies to the Gold tier equally.
Given that Diamond level can theoretically have no point limit, the cap on the multiplier for them is logarithmically relational to the total IDO’s upper bound.
What crypto tokens can be used to participate in IDOs?
Stablecoins: USDT, USDC, BUSD Cryptocurrencies: BNB, ETH
What countries are restricted from IDOs?
Currently, everyone can pass a KYC & sign up for ChainGPT Pad. However, countries that have banned cryptocurrencies will not be eligible to participate in IDOs. Any countries not listed below, who do not have an outright crypto ban, will be determined by the project. This includes the US, Canada, and other countries where crypto regulations have not yet been clearly established. Restricted countries: Bangladesh, China, Algeria, Iraq, Morocco, Nepal, Qatar, Tunisia. For a full list of sanctioned countries please refer to the directory provided by our KYC partner BlockPass:https://www.blockpass.org/major-sanctioned-countries-lists/
Tiers and Staking
Can I stake into multiple Pools and still acquire points?
Yes. If you wish to split up your $CGPT stake across different pools, the launchpad will calculate your points based on their individual placements.
For example, if you stake 2,500 $CGPT into the 45-day pool for 2,500 points and 2,500 $CGPT into the 180-day pool for 3,750 points, your associated wallet will be attributed the aggregated 6,250 tier points.
How are tier points calculated?
Tier points are calculated based on two simple factors: the number of tokens staked and the duration of the staking pool to which they are allocated.
1 $CGPT = 1 point
45 days. = 1:1 point
90 days = 1:1.3 points,
180 days = 1:1.5 points
365 days = 1:2 points
Example: 1,000 $CGPT in the 180-day pool would yield 1,500 points.
How many different tiers are there?
There are four tiers in the launchpad system: Bronze, Silver, Gold, and Diamond. To understand how tier levels are calculated, please refer to our dedicated post: ChainGPT Launch Pad — Tier System & Staking.
What does Allocation Multiplier mean?
The allocation multiplier specifies the amount of tokens that participants can purchase at the different tier levels. Every tier has its own corresponding allocation multiplier: Bronze: 1, Silver: 4+, Gold: 10+, Diamond 40+.
For Projects
Can any category of project apply for listing?
Yes, absolutely! Innovators from all sectors of the digital economy are invited to apply.
Is there a criteria that must be met in order to list?
Yes. ChainGPT upholds high-quality standards that must be met in order for a project to be given access to the LaunchPad.
What is the onboarding process for applying?
After submitting an application, they will undergo an initial screening by the ChainGPT Team. Following the screening, projects will be put through an in-depth due-diligence process. Only projects that pass the rigorous qualitative assessment are inducted into the incubator and allowed to list their IDOs on the Launchpad.
What is the incubation program?
The incubation program is a system to support the early stages of a project's development and bootstrap its operations prior to launching the product.
How long is the Incubation Program?
The incubation program's duration depends on the project's individual needs, averaging around 12 months but can be as long as 18–24 months.
Is Incubation necessary or can we just apply for IDO?
Projects are not required to be incubated to apply for an IDO listing. However, if a project decides to go through the incubation program, then it must IDO via the ChainGPT Pad.
What is the max cap on what projects can raise during IDO?
There is no set maximum. The capacity is based on a project-to-project basis. Many factors will be considered, which help gauge potential outcomes whenever the fundraising goals are being set, which will dictate the maximum capacity.
---
Last updated
