Frequently asked questions Last revised date 16th July 2021
- What are the maximum limits that one can Stake across the Pools?
- What is $LPOOL?
- Seed Price Explained
- Vesting Explained
- What wallets do you support in order to stake into the launchpool?
- Can you tell me a bit about Phase 2, how will it work?
- Where can I find out how Lauchpool works, do you have any links to articles?
- What is the current supply of the tokens and what does the release schedule look like?
- How do PUPs and Friendship Pools work?
- What are the token addresses for the previous tokens?
- Rich Simpson - Founder & CEO
- Liam Robertson - Founder
- Oscar Lindley-Smith - Founder
- Laura Walsh - COO
- Didar Hussain - Head of Operations
- Roxana Nasoi - Head of Growth @ Launchpool, Head of Launchpool Labs incubator
- Sam Harvey - Project Co-ordinator
- Eleanor Rooney - Analyst
Social Media Links
- Launchpool All Socials
- Launchpool Twitter
- Telegram LP Community
- Telegram Announcements:
- Telegram Support Chat
- Telegram Trade Chat
- Launchpool Medium
What are the maximum limits that one can Stake across the Pools?
We have split 3 different Pools on BSC and 2 Pools on ETH, this way it keeps it fair and no one needs to fight with the whales for their allocation. You can stake in all pools, or in the pool of your choice.
The current BSC Pools are:
- Pool 1 will have a staking limit of 50 $LPOOL tokens.
- Pool 2 will have a staking limit of 250 $LPOOL tokens.
- Pool 3 will have no staking limit of $LPOOL tokens.
The current ETH Pools are:
- Pool 1 will have a staking limited of 300 $LPOOL tokens.
- Pool 2 will have no staking limit of $LPOOL tokens.
What is $LPOOL?
$LPOOL is the native token of Launchpool and is the tool used to indicate interest in a new project. Staking $LPOOL allows holders to gain access to projects that otherwise would not be available to the public, granting them access in a private investment round, bound by a vesting schedule.
$LPOOL is your tool of choice for being your own VC, in short
How does $LPOOL Staking work?
There are 2 staking mechanisms available on Launchpool:
- Stake $LPOOL to earn more $LPOOL or partner project tokens. Subject to availability and PoP-Up Pools
- Stake $LPOOL to gain an allocation % in a project undergoing an Allocation Mining Event.
Stake $LPOOL to earn more $LPOOL or partner project tokens. What does this mean?
Along with buying $LPOOL on exchanges you can also stake your current $LPOOL to earn partner project tokens through a PoP-Up Pool (explained below).
Why $LPOOL tokens matter in the long run
Holders of $LPOOL get access to the earliest round of curated projects without the enormous capital requirements usually needed for early-round investing.
As well as various airdrops and deals may be offered to $LPOOL holders and stakers by partner projects.
Stake $LPOOL to gain an allocation % in a project undergoing an Allocation Mining Event at private seed valuation on the Launchpool launchpad. What does it mean?
This type of staking is a way of staking your $LPOOL tokens to be able to access exclusive pre-IDO projects at private seed price and vesting terms.
How to stake your $LPOOL in an AME
We announce Deposit Day(s) beforehand in the LP community and on our Twitter. Go to app.launchpool.xyz. Enter your email address and a secure password (Register). Upon registration, confirm the account by clicking the link that is sent to your email address. Begin KYC (look for the button or select it from Dashboard).
Once your KYC has been accepted, you can stake your $LPOOL tokens in one of the 3 available staking pools. Remember to connect your Metamask to the App (use browser, not mobile).
We factor in TIME + AMOUNT, which will give you the final % you have gained in the allocation. A timer above the Staking Pools will indicate time left for staking LPOOL, and when you are able to deposit your ETH, and when you can claim your Allocation (tokens). Upon the end of the AME, your LPOOL will be returned to your address automatically.
Here is a video guide on how to participate: click here.
Private Seed Price Explained
Why LaunchPool community gets access to the best prices
By holding and using $LPOOL you can show direct and concrete interest in the cutting-edge of crypto. This, combined with our well-known industry partners such as Alphabit fund and 11 other top tier funds, allows projects to feel comfortable giving you exclusive deals, and access to private investment opportunities in their projects before they do a public IDO.
How We Started (liquidity and native pools; PuPs)
We set on this journey with Launchpool to democratise the digital asset investments landscape. The game felt rigged. The entry points were difficult to achieve unless you had the knowledge or the financial power to sustain a position in a crypto project. More experienced players (crypto funds, whales, exchanges) had the upper hand, making it impossible for an egalitarian offering, even if project teams would be open to it. Unless investors get into the project early, the returns were almost impossible to achieve. Launchpool was born out of a desire to support the entire ecosystem, from retail investors, to whales, funds, projects, marketers, and stakeholders alike. We created a unique investment instrument to support the decentralised economy of the future, by offering investors private sale opportunities, pre-IDO, with the same vesting schedules and bonuses as funds & partners received.
How It’s Going (4 projects/month, public app launch)
We couldn't have asked for a better response! So far we have over 10,000 KYC’ed members taking part in AMEs, an average of 1,000 to 2,000 wallets taking part in AMEs, and a minimum of 4 projects launching on a monthly basis.
How Vesting Time Works
When you participate in either PuPs or AMEs your holding tokens may be vested according to a customised vesting schedule. It is rare for tokens on our Launchpool launchpad to not offer a vesting schedule. This is common in all early-stage investing.
For example a VC might get 100 shares with a vesting schedule of 25 shares being unlocked per year (meaning after 4 years the investor would be fully vested). Different vesting schedules have different lengths and payouts.
You can learn more here: click here.
Why Vesting Time Matters
Normally in token generation events or crowdfunded projects, tokens are released all at once after the fundraising is over, which creates the risk of everyone dumping right out of the gate. In early-stage investing, tokens are ‘vested’ meaning that they will be given out over time rather than all at once to make sure that whales and whoever is fast enough doesn’t have an edge over smaller investors. Vesting is a way in which early investors (private investors, funds, VCs) can get into early rounds while also not creating a race-to-the-bottom when they receive their equity/token bag. In this way vesting aligns incentives between both the project and investor.
Both PuPs and AME projects on Launchpool may be vested, so be sure to check the terms before investing.
Fees and Smart Contracts Explained
A Smart Contract is a program that runs on a decentralized network like Ethereum, BSC, and others. Unlike normal programs however, it cannot be stopped or censored by any one central authority. More here: click here.
Gas in Ethereum is like gas in your car. To do something on the ETH network (like participating in an AME) you need to have enough gas in the form of ETH to use the smart contract.
Explainer 1: click here.
Explainer 2: click here.
Please check the gas fees carefully before using any smart contract.
What is a Pre-IDO?
A Pre-IDO (Initial DEX Offering) is a small private sale allocation which is vested.https://coinmarketcap.com/alexandria/glossary/initial-dex-offering
Stage 1. $LPOOL Staking => Earn Rewards (free tokens)
In stage one of the $LPOOL distribution any of the holders of 10 different tokens were allowed to stake their tokens to get 25% of the total $LPOOL supply to create a fair distribution of $LPOOL. This phase is now over. Thank you so much to all who participated. https://launchpool.medium.com/endings-and-beginnings-4b21ba38bc8
If you are currently an $LPOOL holder you may stake your tokens to get free tokens in PuPs or Friendship Pools (subject to availability).
Stage 2. $LPOOL Staking => Access Key to Private Seed-Price Deals (Projects)
In Stage 2 of Launchpool we introduced Allocation Mining Events (AME) which allow investors to gain access to early-round token offers. We also expanded to support projects on the Binance Smart Chain (BSC) to allow for lower fee participation and scaling. Layer 2 solutions are currently in the works for lowering fees in Ethereum.
“AME” Allocation Mining Event Explained (Step by Step):
Long story short of how AME works:
- Tokens at early-round prices are allocated to Launchpool
- $LPOOL users stake their $LPOOL (even 1 token can participate!) to get the ability to buy these tokens in proportion to how much $LPOOL they stake and for how long. The more $LPOOL you stake the more tokens you will be able to buy at early-round prices.
- Once allocated stakers can choose to buy the holding token of the project with ETH/USDC/BNB/BUSD.
- You collect your tokens, unstake your $LPOOL, and you're done!
(Note: You do not lose your $LPOOL when you stake it to gain access to projects).
What wallets do you support in order to stake into the launchpool?
We only support Metamask or Portis Wallet. We also recommend using a desktop wallet instead of a mobile wallet where possible.
How to use MetaMask Wallet in Launchpool?
How to Create New Metamask Wallet for Ethereum Network
Go to https://metamask.io/ and download the wallet for your specific browser. Click “Create a wallet”. Add a strong password (min. 8 characters, combination of letters, symbols, and numbers) to your account (save it somewhere safe, in a password vault manager like 1Pass or Bitwarden).
Important!!! Write down your seed phrase (Make sure to not lose it or show it to anyone and NEVER input it into a website!) and you’re done!
How to replicate your Metamask Wallet for Binance Smart Chain
The equivalent BSC tokens to ERC20 on Ethereum are BEP20, and all tokens on BSC must be BEP20. You can’t move your ERC20 tokens around on BSC. To move them across, you must swap the ERC20 tokens to BEP20 tokens via a bridge. Launchpool has created a bridge with our good friends at Multichain.
Follow this very detailed guide from Binance on how to setup your Metamask for BSC faucet: https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain
How to Import Wallet
If you already have an Ethereum wallet you can import it via its seed phrase, private key, or json file, please follow this link to restore your Wallet or Import wallet: click here
How to Connect LaunchPool dApp to Metamask
Simply go to our website at launchpool.xyz and click “Launch App”. Pick which Metamask account you want to add. Proceed.
How to add a smart contract address to metamask
To view your holding token (the temporary token you get before the rewards are distributed) add the holding tokens contract address into your Metamask wallet. For example the PredictX holding token (LPH1) contract address was 0x6e51a92f2d131f595bd451f393b2a3a519c3ede7
To do this click on your wallet icon. Click “Add Token”. Click the “Custom Token” tab. Then paste in the token address starting with 0x….
(Note: DO NOT move your holding token or you may not get your rewards)
How to switch between Mainnet ETH and Testnets (i.e. Rinkeby)
By default you are connected to the Ethereum Mainnet. To connect to the Ethereum testnets click the button at the top that says “Ethereum Mainnet” and click which testnet you want to use. Keep in mind Launchpool is live only on the Mainnet ETH and Mainnet BSC.
- How to Create Wallet and Add Funds: https://www.youtube.com/watch?v=pfFVb9sdeWI
- How to buy $LPOOL tokens on Uniswap: https://www.youtube.com/watch?v=JZabAmDWS-w
- How to Register and Explore Projects (AMEs) on the Launchpool App: https://www.youtube.com/watch?v=RjYrRk9klK4
- How to Swap your $LPOOL tokens on Ethereum to Binance Smart Chain using Multichain: https://www.youtube.com/watch?v=8Z1_B3BJoWo
- How to add $LPOOL tokens to your Wallet: https://www.youtube.com/watch?v=WchBH4hHaUI
- How to Invest in Projects using the Launchpool App: https://www.youtube.com/watch?v=4tRieTAuZ3I
- How to Unstake from a Staking Pool: https://www.youtube.com/watch?v=PfWPb_K0XD8
How to use Portis Wallet in Launchpool?
Portis Wallet (note: there is very little documentation on how to use this wallet and some users have reported getting phished after adding their email).
How is Portis different from MetaMask
Portis is a lot like Metamask but allows you to use multiple blockchains along side Ethereum such as Bitcoin, EOS, xDai, BSC, ect and you don’t need to install a browser extension.
Head to wallet.portis.io/register to create your new wallet. For more details on how to create a Portis wallet please check out their official FAQ: https://shapeshift.zendesk.com/hc/en-us/articles/360010466899-Getting-Started-With-Portis
You can import your existing wallet into Portis by going Menu > Security > Recovery Phrase.
How to Connect LaunchPool dApp to Portis
Log into your Portis account portis.io. Select “Portis wallet”. You should now be able to use Launchpool.
How to add a smart contract address to Portis
(this feature may not be supported in Portis): https://portis.hellonext.co/b/feature-requests/p/please-allow-us-to-add-custom-tokens-especially-for-erc20-tokens
Staking Pool Size Change
There will be only 2 staking pools on Ethereum moving forward. We previously had a 50 LPOOL pool, a 250 LPOOL pool & an un-capped pool, we will now only have a 300 LPOOL pool & an unlimited pool.
- The 50 LPOOL will merge with the 250 LPOOL pool, resulting in a staking pool capped at 300 LPOOL;
- The newly formed 300 LPOOL staking pool will get 2/3rds of the allocation, while the unlimited staking pool will get the remaining 1/3rd.
- BSC projects will continue with the 50/250/unlimited staking pools setup.
- For projects like CCAI doing an AME and raising on USDC, we will also be offering 2 staking pools, following the same format as the ETH ones.
Binance Smart Chain Offering
Launchpool is excited to announce that we have now finalised the Binance Smart Chain integration. We have been looking at providing our users with a solution to bridge tokens to popular EVM chains. To facilitate our own token move to BSC we used the services of Multichain.xyz, an user-friendly solution that we’ll be exploring further in the near future. See the “How to” below to move your tokens across.
Launchpool ($LPOOL) BEP-20 Token Information
- Our token is now on Binance Smart Chain. You can see it on the explorer here.
- Contract address: 0xcfb24d3c3767364391340a2e6d99c64f1cbd7a3d
Can you tell me a bit about Phase 2, how will it work?
Our Phase 2 preview sneak peek is live! Check out how our pre-investment pools will work once the Launchpool platform has been updated!
Please view video in the the twitter announcement below:https://twitter.com/launchpoolxyz/status/1366938881803739139?s=21
Where can I find out how Lauchpool works, do you have any links to articles?
Launchpool allows all community members to invest in private sales of the latest cryptocurrency projects, which normally would be reserved for large investment funds, at the same price as the funds.
Please see the medium articles for more information:https://launchpool.medium.com/launchpool-lpool-rewards-7a07504d6dd5
What is the current supply of the tokens and what does the release schedule look like?
- 👉 Total Supply: 10M
- 👉 Initial Circulating Supply = 300,000 $LPOOL released on 22nd February with approximately 94,444 tokens per day released thereafter for the 90-day farming period)
- 👉 $LPOOL Price at IDO = US$1
Launchpool has a total supply of 10 million LPOOL tokens. Aside from the 25% reserve of tokens held for endeavour rewards and operational requirements, all other tokens will be distributed over a 90 day period period.
We expect the circulating supply of $LPOOL after the conclusion of the Phase 1 farm to be ~7M $LPOOL (approximately 23rd of May 2021).
How do PUPs and Friendship Pools work?
PuPs are something we do to give back to the community. Sometimes they’re tokens that are already in the market and sometimes they’re private sale tokens that come with vesting schedules. When the PuP is a Private Sale token, you will be given a Holding Token until the project launches. Friendship PuPs act in a similar fashion: you stake LPOOL or partner project tokens, and earn more tokens / LPOOL tokens.
Please see the following document for more details: https://launchpool.medium.com/launchpool-presents-pop-up-pools-pups-a-unique-innovation-for-launchpads-ade3f8b1564a
What is the life cycle of a PuP?
PUP’s will vary in their offerings, small and large value, pre-investment to public tokens. Each PuP will have its own details, offers, and terms, but they will all have this basic information: Token Name, Symbol, Rewards, Pricing of Native Token, Limit (if any), Start/End block, and Contract Address.
Any other details will be provided and you can chat with us about it on our Telegram Support Chat: t.me/LaunchpoolSupportOfficial if you have any questions about a particular project.
How to access PuPs with $LPOOL Staking
Go to app.launchpool.xyz, check the available staking options. Connect your wallet. Pick whichever PuP you would like to stake your $LPOOL in. Stake however much or little $LPOOL you would like. Enjoy your new tokens!
Where can I stake LPOOL
Go to app.launchpool.xyz, check the available staking options.
Should you unstake after the AME
After the AME is over it will be moved to the retired section. You should unstake when you can, there will be more than enough time.
What is the contract address?
You can view contract address information on coingecko: https://www.coingecko.com/en/coins/launchpool
What is the BSC $LPOOL BEP20 address?
Contract address: 0xcfb24d3c3767364391340a2e6d99c64f1cbd7a3d
BSCScan Explorer: https://bscscan.com/token/0xcfb24d3c3767364391340a2e6d99c64f1cbd7a3d
Where to buy?
Currently Launchpool can be purchased via Uniswap, Pancakeswap, and KuCoin Exchange (LPOOL - USDT; LPOOL - BTC).
How do token unlocks work currently? Are there vesting periods for private sale investors?
Each Project will have its own vesting schedule, we will release all information on this before the sale is live.
When will the PredictX tokens be distributed?
For PredictX you're just getting a holding token for now, as soon as PredictX launch, the real token will be distributed. Their vesting schedule is 10% on launch then 1 year monthly vesting.
It is important to not move the holding token from the wallet address where it resides after unstaking from the PredictX pool
Is there a whitepaper?
A whitepaper will be published for Launchpool Labs - the incubator.
How are staking rewards claimed?
Once you stake or Unstake, your rewards will automatically be harvested.
What are the token addresses for the previous tokens?
- $LPOOL Contract Address (BSC): 0xcfb24d3c3767364391340a2e6d99c64f1cbd7a3d
$LPOOL Contract Address (ERC-20): 0x6149c26cd2f7b5ccdb32029af817123f6e37df5b
- $MHT contract address (ERC-20): 0x89bfe33a7969e28c411a7fcb3b26f4acdf7ea80d
- $SOME contract address (BSC): 0xc039c13470be809bed1c2cd42339ccb22e0970f2
- $UHT contract address (ERC-20): 0x0f64873aeEEFB4A9D6AE239C9428F268f57B1242
- Predict X (Erc20): 0x6e51a92f2d131f595bd451f393b2a3a519c3ede7
- $RHT Contract address (ERC-20): 0x636253B86AdcfBb3A1Ac20458ccD3552e4bC3d67
- $THT contract (ERC20): 0x6f9Ca03F12591DbEf0DEEd56A0d7FebAce1288e3
- $RAI contract address (bsc): 0x0e128fb9f266f0cfedeb3b789f6fd4af50d51b84
- $YLD contract address (ERC-20): 0xf94b5c5651c888d928439ab6514b93944eee6f48
- $CBDHT Contract Address (ERC-20): 0x9bC711b719c3169ce3f3f5cAB35F2c5209e22Bfa
$CBD address (BSC): 0x0e2b41ea957624a314108cc4e33703e9d78f4b3c
- $RSHT (BSC): 0xfB7c3240e8EfDB55438E85381452db27B328D645
- $BPHT (ERC-20): 0x13cfab00512b917acad10e652069de084ed75037
- $UFARM address (BSC): 0x40986a85b4cfcdb054a6cbfb1210194fee51af88
- $CCAIHT Address (ERC-20): 0x0224D36267d4fDb65099240e5ABf38752833b897
- $RAHT Address (ERC-20): 0x8Ac528d5D30942fe088423901EcE397917E29877
- $ROSN contract address (BSC): 0x651cd665bd558175a956fb3d72206ea08eb3df5b
- $SDAO contract address (ERC-20): 0x993864e43caa7f7f12953ad6feb1d1ca635b875f
- $ALM contract address (ERC-20): 0x7C38870e93A1f959cB6c533eB10bBc3e438AaC11
Couldn’t get all the answers? It’s okay, just drop us your question (or feedback) here and we will get back to you.