DAO Maker is one of the most active and productive launchpads at the moment. By onboarding a total of 56 projects, DAO Maker has supported the fundraising of multiple well-known projects with an average ATH ROI of nearly 3,700%. During September 2021 specifically, DAO Maker has supported 8 projects.
How to participate in an IDO on DAO Maker has become of interest to a wide range of crypto investors. In this article, I will guide you on what you need to prepare, as well as how to join an IDO on DAO Maker. Now let’s get started.
- DAO Maker Overview
- How DAO Maker selects a whitelist winner
- Preparations before participating
- How to participate in DAO Maker IDO
- FAQ about DAO Maker
- What are some successful projects that were launched on DAO Maker?
- How has DAO Maker performed compared to other launchpads?
- What are the chances of being whitelisted on DAO Maker?
DAO Maker Overview
DAO Maker is a platform for retail ventures to invest in startups and projects at an early stage. In other words, DAO Maker is a launchpad that acts as an intermediary between the retail investors and the protocols during the fundraising process.
DAO Maker solves the risk of participating in token sales nowadays. When the product is still under development and the developer team has little to no credit, investing in the project can be a bet.
Therefore, DAO Maker with its reputation aims to ensure that investors/ventures can safely participate in IDO events, while young, promising protocols can raise funds to further develop their products.
How DAO Maker selects a whitelist winner
To participate in the DAO Maker’s launchpad, you have to qualify using “DAO Power”. You can stake the DAO token and swap for DAO Power at a 1:1 ratio, or you can provide liquidity for DAO pairs to trade the LP token for DAO Power at a 1:1.5 ratio. You can receive DAO Power after locking your DAO for 5 days.
Afterwards, your position will be put into 1 of 6 available trenches (trench 0 is for early supporters/old users), which is then followed by a random whitelist selection.
- Tranche 0: 500–1999 DAO Power.
- Tranche 1: 2,000–3,999 DAO Power.
- Tranche 2: 4,000–9,999 DAO Power.
- Tranche 3: >10,000 DAO Power.
- Tranche 4: >25,000 DAO Power.
- Tranche 5: 50,000+ DAO Power.
The more DAO Power you hold, the better your position gets. Since the number holders in each tranche will decrease as the trench order increases, people holding more DAO Power will have a higher chance of winning a whitelist slot.
There is also a new mechanism called the Priority System. There are 10 levels of priority factor, whereas everyone starts at priority 1. Every time they are not selected, their priority will increase by 1. The higher the priority factor, the higher the chance they have to become whitelisted.
If you are selected, your DAO Power will be locked for 10 days to prevent you from joining other IDO events. If you are not selected, your DAO Power will be immediately returned.
If you are not selected, don't worry. DAO Maker recently released an update to allow the full allocation into 2 parts: 80% for whitelist winners, 20% for non-selected participants. So even if you are not chosen, you will still be given a portion of the allocation.
Preparations before participating
In order to qualify for a lottery, you have to prepare the following requirements:
- DAO tokens. According to the new rules, you need to have at least 2,000 DAO Power, which can be received by staking 2000 DAO tokens or by providing liquidity with 1334 DAO tokens (make sure you are aware of Impermanent Loss if you decide to follow this approach). You can buy DAO on Coin98 Exchange right here.
- KYC: You have to pass the KYC test, which is an identity verification process to be able to participate in activities on DAO Maker,
- BUSD. If you are selected, you have 12 hours to make your payment. If you do not make your payment in time, your allocation will be sent into the Venture Yield.
- BNB: You need a small number of BNB tokens to make the payout transaction on Binance Smart Chain. $0.5 - $1 worth of BNB is enough.
How to participate in DAO Maker IDO
Step 1: Go to the DAO Maker website: https://daomaker.com/
Click “Sign in” to log in your existing account, or click “Register” to create a new one.
Step 2: Connect to the Coin98 Wallet Extension. Click “Connect Wallet”.
Step 3: Select “Web3”. Enter your Coin98 Extension Wallet password if needed.
Step 4: Click “Start now” and “Continue to KYC” to proceed to the KYC process.
Step 5: Stake DAO to receive DAO Power. Click “Vaults” and find an appropriate vault to stake. I’ll take the “DAO Maker” as an example.
Click “Research and stake”.
Step 6: Select a live sale to participate in. I’ll take the Project X sale as an example. Click “Research and participate”.
Step 7: Your wallet will be scanned to ensure that you are allowed to join the sale. Proceed to the next step by clicking “Participate” if you meet all the requirements.
Enter the number of DAO Power tokens that you want to spend, then click “Complete Participation”.
You have successfully enrolled in a token sale on DAO Maker. In the future, you will be notified if you are selected as a whitelist winner.
FAQ about DAO Maker
What are some successful projects that were launched on DAO Maker?
- My Neighbour Alice: A multiplayer blockchain game, where everyone can buy and own virtual islands, as well as gather and collect unique items. My Neighbour Alice raised $2.2M through DAO Maker, with an ATH ROI of 318x and a current ROI of 94x.
- Orion Protocol: A DeFi platform providing B2B + B2C solutions for liquidity aggregation. Orion Protocol raised $7.46M through DAO Maker, with an ATH ROI of 293x and a current ROI of 78x.
- Derace: A virtual NFT horse racing universe built on blockchain. Derace raised $2.08M through DAO Maker, with an ATH ROI of 84x and a current ROI of 50x.
How has DAO Maker performed compared to other launchpads?
Here is a chart showing the performance of DAO Maker in comparison to some other launchpads.
It can be clearly seen that DAO Maker has been pretty productive as it has launched 56 IDOs, only behind Polkastarter. While the average ATH ROI of DAO Maker’s IDOs is only behind Polkastarter, the average current ROI between the two projects has a big gap (960% of DAO Maker compared to 505% of Polkastarter). They are the two most prominent IDO launchpads at the moment.
What are the chances of being whitelisted on DAO Maker?
The rate can be listed as:
- Tranche 0: 1x chance.
- Tranche 1: 5x chance.
- Tranche 2: 10x chance.
- Tranche 3: 25x chance.
- Tranche 4: 65x chance.
- Tranche 5: 130x chance.
Along with the Priority System, users will receive a higher chance than as listed above. When the priority 10 is reached, users will be guaranteed a whitelist slot.
And that is all you need to know in order to participate in an IDO on DAO Maker. Hopefully, this article can effectively support users in using Compound with the Coin98 Mobile Wallet and the Coin98 Extension Wallet.
If there are any questions, please feel free to comment below or join Coin98 Community for further discussions about Crypto!