After receiving a total of just over 55,000 valid applications, the KSM Starter IDO whitelist result is now here. While the KSM Starter team would like to whitelist everyone for the upcoming IDO of KSM Starter’s token ($KST) on October 7th, the team must ensure that the whitelist is limited to offer substantial ticket size for each whitelist participant while creating minimum gas war. For this reason, a total of 916 wallets have been whitelisted. The result is one of the most competitive IDO whitelist campaigns the industry has ever seen, offering each applicant only a 1.7% chance of winning the whitelist.
How to Check your Wallet for Whitelist
In the interest of maintaining transparency, the 916 wallets are publicly viewable in the following document; please check to see if you qualify:
Moreover, whitelist winners have now received an email from the official KSM Starter email account, containing further information on how to proceed with the IDO and how to verify the information.
Please be aware of fraudulent parties impersonating KSM Starter and members of the team. Beyond being whitelisted, the only requirement for winners is to complete KYC, through the link provided in the email. Any email or other methods of communication encouraging the recipient to submit seed phrases, send funds, or participate in swap or trading are a scam; so please remain vigilant.
Whitelisted? Here is What to Do
KSM Starter respects all regulatory and legal frameworks. For this reason, we require all our whitelisted users to participate in KYC, which is further detailed in the outreach email.
Once you have submitted your KYC, please frequently check your inbox for updates from our KYC partner. It is essential that you provide any additional or supporting documents in a timely manner to ensure that you can participate in the $KST IDO on October 7th. Whitelisted users have 30 hours to complete the KYC.
On October 7th, please head over to our official website (www.ksmstarter.com) and launch the official web-app. Connect the wallet that was whitelisted, and follow the directions provided to participate in the IDO. Please make sure to be on time for the IDO, as we expect it to be highly competitive.
Industry-First Whitelist Modulation
For the first time in the industry, KSM Starter has implemented whitelist modulation. This means that even within the whitelist, there are small degrees of differences in the assigned allocation. This was implemented because KSM Starter believes that the traditional, easy method of equal allocation for all does not adequately reward those who have shown their true support for the ecosystem and the wider cryptocurrency industry. The degree of modulation between the minimum and the maximum has been limited to $200 USD, ensuring that the modulation in allocation amount does not result in the difference of initial tiers and thus prevents any continuum of divergence in equality.
The modulation is offered based on the result of the wallet analysis tool, scoring each wallet and putting them into separated groups. As a result, a total of 423 wallets have been given Group 3 with $200 allocation each. 323 wallets have been given Group 2 with $300 allocation each, and 211 wallets have been given Group 1 with $400 allocation each.
KSM Starter Wallet Analysis Tool
The wallet analysis tool used by KSM Starter is one of the most innovative, inclusive, and fair methods of providing bonus points to those who have shown their support for the ecosystem. The granting of bonus points also allows the wallet analysis tool to work in conjunction with the random draw feature of platforms like Gleam.
While the details of the analysis tool cannot be shared, the wallet analysis tool took into account many factors, including:
- Participation in liquidity mining (Bonus points granted if done twice, capped at twice thus not providing additional bonus points for liquidity mining participated more than twice)
- Participation in staking of any kind (Bonus points criteria are same as liquidity mining)
- Nature of transactions across all blockchain (Points were removed if the wallet showed extremely high frequency in trading, suggesting that the wallet belongs to a bot user)
- Number of Polkadot and Kusama ecosystem tokens held (Agnostic of the actual token amount)
The wallet analysis, as a result, gave favourable chances to even small-scale retail investors who actively participated in the DeFi ecosystem regardless of their net balance.
Missed Out on Whitelist? Here is What to Do
If you did not make it to the whitelist, it is not over yet! KSM Starter would like to reward every member of the community for the incredible support and patience given. Currently, there are two on-going giveaways where participants can win free $KST tokens.
To participate in 100,000 $KST Giveaway, click on this link: https://gleam.io/crLQe/ksm-starter-100000-kst-giveaway
To participate in 8,300 $KST Giveaway in partnership with Ash WSB, click on this link: https://gleam.io/iwImw/ashwsb-x-ksm-starter
There will be an additional giveaway where participants can win tiers to be able to participate in upcoming IDOs on KSM Starter.
Coming Up Next
The team at KSM Starter is incredibly grateful for the support shown by our community. Over the past few months, KSM Starter has progressed through an evolutionary phase in which community feedback had a direct impact on the development direction of KSM Starter, making the platform more innovative than ever.
Next, KSM Starter will be conducting the $KST IDO on October 7, exclusively on the official website (www.ksmstarter.com).
Upon the completion of IDO, $KST will be listed on a reputable DEX (decentralised exchange) to allow users to trade their tokens.
We sincerely thank you for your support, and look forward to having a successful launch with our beloved community.
About KSM Starter
KSM Starter, the primary launchpad on Kusama, is built to provide early-stage support and public funding for projects building on Substrate. KSM Starter’s incubator modeled launchpad is driven by the community and shared values of fairness, transparency, and decentralized organization. Unique to the KST ecosystem, community members are incentivized to participate in the pre IDO selection process through higher allocation rewards. Also unique to KSM Starter, collaboration is fostered among launched projects by incentivizing community members to support previous launches by awarding them with improved lottery odds. This along with the KST Ecosystem Council generates a synergistic network effect that empowers all projects to succeed and leave a lasting impact on Kusama.
KSM Starter is set to offer its native KSM Starter Token (KST) to the public in the form of IDO (Initial DEX Offering) on October 7, 2021. Stay tuned to the official twitter and telegram to remain updated on important announcements.