IDAP public sale: Beyond Phase-1
By: Bitfex Exchange
Tags: Announcements, ICO, Crypto, Bitcoin, Blockchain

IDAP Public Sale: Beyond Phase-1

Token sale details + Project Updates

The IDAP token sale went live on Feb 15th, 2019 with phase-1 of the sale now concluded. Throughout the sale we have been taking feedback from the community as we deliberated on how to proceed forward.

Our TestNet has been live since January, with both Web App as well as Desktop Platform available at testnet.idap.io along with 1 virtual BTC for those who register. Users can trade in a simulated environment using the virtual BTC, explore the different instruments and the trading interface while getting an overview of the main exchange. Our focus is now launching the main exchange.

We are happy to state that exchange development is ongoing at a good pace and with the progress made so far, we are confident to launch the basic main exchange by the second quarter this year. We request the community to continue testing out the TestNet and sending us their valuable feedback.

Public Sale Details (All phases):

Phase-1 of the IDAP crowdsale offered various benefits, including a 20% bonus, lifetime free trading for contributors buying and holding 20,000 or more tokens and premium pegged pricing for the various coins/tokens being accepted. We are now going to continue with the public sale in four phases in addition to phase-1. The benefits for all the phases of the IDAP public sale are summarized in the table shown below.

* Premium pegged price for BTC is $8500, for LTC is $100 and for WAN is $0.75. The premium peg for ETH, as well as BTC, LTC and WAN may be readjusted in the event of a significant market rally.

As evident from the table, the benefits being offered to contributors diminish with each subsequent phase. From phase-2 onward, the bonus will reduce by 5% after 30 days and the next phase will start. Moreover, the minimum number of IDAP tokens needed to be purchased to get lifetime free trading will also increase in each phase. For instance, phase-1 contributors will have to buy and hold only 20k IDAP to avail commission-less trading whereas phase-5 contributors will have to buy and hold 100k IDAP for the same. Thus, those who participate in the sale earlier, stand to benefit more.

Phase-2 is now live. To contribute, please visit tokensale.idap.io.

We have also decided to reward the top ten contributors of the public sale with a surprise bonus benefit: at the end of the sale their tokens will be doubled! For instance, if the top most contributor bought 2 million IDAP in all phases, then at the end of the sale, he’ll receive an extra 2 million tokens. Thus his total balance will be 4 million! Similarly, if the rank 10 contributors bought 300k IDAP tokens overall, after sale completion, his balance will become 600k IDAP. The top ten contributors will be displayed on a leader-board on our official website, and will be updated every Friday.

Please note that phase-5 will be conducted after the basic exchange is launched and will be live for a limited time, with no bonus and no premium pegged pricing for the accepted cryptocurrencies. It will also be the last chance to grab lifetime free trading by making a contribution to the IDAP sale!

Referral Program Update

Please note that the 200 IDAP sign-up/referral tokens reward is no longer active. The 25% investment referral is still on and will remain so while the public sale is ongoing. You can share your affiliate link in your network and if your friends and acquaintances invest in the public sale via your referral link, you will be rewarded 25% of what they invest in BTC/ETH. So do spread the word about IDAP if you wish to claim your referral rewards!