MahaDAO Whitelist Results & IDO Price Details
By: Steven Enamakel
Tags: Mahadao, Defi, Blockchain, Token Sale

We at MahaDAO are overwhelmed by the support we’ve had in our fight against the bots. As the monumental MahaDAO IDO sale nears, there is one thing that we couldn’t be more proud of, a highly vibrant and active community. We now stand at more than 10,000 community members on Telegram alone as of writing.

In this post, we’ll be diving into how we’ve picked the IDO candidates, the public sale price, vesting details and information around the highly anticipated Uniswap listing.

IDO price, Valuation, Vesting and Uniswap

The MahaDAO IDO price & Uniswap listing price is as below along with their valuation.

🔸MAHA Total Supply: 10 million tokens

🔸Circulating Supply at TGE: ~500,000 MAHA tokens

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⏺️ MAHA Price at IDO = US$ 0.60

✅ MAHA Uniswap listing price = US$ 0.75

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⏺️ MAHA Market Cap at IDO = US$ 6m fully diluted

✅ MAHA Market Cap at Uniswap listing = US$ 7.5m fully diluted

We’ve purposefully kept the fully diluted market cap low to offer our early supporters the chance to gain the most returns. All tokens in the IDO public sale are fully unlocked.

Unlocking the power of Polkastarter

Our intention from the very outset of MahaDAO has been to conduct an IDO in order to give as many people a chance to share in the upside value we’re aiming for.

This is why we’re leveraging two of Polkastarter’s most powerful features to ensure a sale that is as fair and equitable as possible is conducted:

The ability to set a max contribution per address

The ability to whitelist addresses

These features are a great way for us to leave enough room in the sale for genuine supporters to come in and push out the bots that would otherwise try to front-run the sale by paying high gas fees, leading to gas wars.

The IDO max cap and Whitelisting

We can’t express how appreciative and humbled we are by all the well-wishers that have expressed interest in the MahaDAO IDO. We’ve seen investors from all over the world, from all kinds of ethnicity, age, gender, profession; MahaDAO knows no borders and creates true value for all.

Over the course of the last 48 hours more than 4000+ submissions have been made by authentic, verified accounts and the MahaDAO team have gone through and filtered each and every one of them to make the results public.

There is no minimum contribution, however, the maximum contribution per address is set as below

🔶 Total Raise in MAHA IDO : US$ 125000

Total Raise in MAHA IDO 🔸 MAHA IDO minimum contribution per wallet: US$ 0

MAHA IDO contribution per wallet: 🔸MAHA IDO maximum contribution per wallet: US$ 250 worth of ETH

By placing a maximum cap of 250$ per address for a total raise of $125k, this leaves room for at least 500 investors to partake, which would be a truly monumental feat.

Whitelist Results & Selection Criteria

The whitelisting selection criteria has been something that has constantly been raised as a point of concern by the community. We’ve listened to the overall voice of the community & would like to share the steps taken by us to protect the community.

To check if you are whitelisted, simply look for your wallet address in the form below: https://docs.google.com/spreadsheets/d/1s2HsnhYzvkgX1ZXZtvDuBWPmiFtJluQc5y5xFePt3pQ/edit?usp=sharing

We have also made public the submissions in the link (with the wallet addresses of users removed for privacy reasons)

The criteria that we’ve followed to whitelist entries into the pool are as follows: (Starting off with the ~4900 submissions collected over the last 48 hours)

1. Ensure that the form is filled in properly and the steps mentioned were followed: Null values were removed. Invalid links were removed. Improper Twitter profile links were removed. Invalid Tweet links were removed. Around ~1900 duplicate and invalid entries were removed.

Total submissions remaining after filter: 3100

Total submissions dropped after filter: 1800

2. Have a Twitter account with at least 5 followers or is older than Dec 15th 2020: Everybody who fell in this criteria automatically got whitelisted. Those who didn’t were given another 3 more rounds of security check to whitelist themselves as detailed below:



Total submissions remaining after filter: 3100

Total submissions dropped after filter: 0

2.a) Have a valid telegram handle linked in: There were many community members who voiced out that they had just made a Twitter account to enter into the sale. Around 130 different submissions were made with new Twitter accounts. These submissions were reviewed manually and only 30 submissions were approved. Total 2600 submissions remained

Total submissions remaining after filter: 3000

Total submissions dropped after filter: 100

2.b) Ensure that tweet link that submitted were from the right account: About 74 different submissions had misleading tweets and showed high profile accounts but were actually tweeted by somebody else. We believe this is a clear manipulation to get addresses whitelisted, and we’ve removed around 74 odd submissions.

Total submissions remaining after filter: 2936

Total submissions dropped after filter: 74

2.c) Telegram handles missing + new Twitter account: Those accounts that had not submitted their telegram ID and had used fresh Twitter accounts to make their submission. Around 54 such submissions were removed.

Total submissions remaining after filter: ~2900

Total submissions dropped after filter: 54

As we can see, many front-runners have tried to manipulate the whitelisting form to jump ahead in the IDO; But we’re proud to say that they have been caught and stopped in their paths.

A timeline of events; Past & Future

15th December — 2pm GMT — IDO Whitelist Application open time (FINISHED)

16th December — 6:29 PM GMT— IDO Whitelist Application close time (FINISHED)

Whitelist Applicants Announcement (FINISHED)

17th December- 3:00 PM GMT — MahaDAO IDO (Public Sale) start time

17th December — 6:00 PM GMT— Uniswap Listing

17th December — 6:00 PM GMT — IDO close and public sale tokens start getting distributed to investors

(An earlier version of the article stated that the IDO distribution will happen at 7pm GMT; This has been corrected)

FAQs

How do I know if my address is whitelisted or not?

To check the status of your application, find your name here — https://docs.google.com/spreadsheets/d/1s2HsnhYzvkgX1ZXZtvDuBWPmiFtJluQc5y5xFePt3pQ/edit?usp=sharing

What happens if I missed out on the IDO?

For every interested investor, we made it obligatory to fill a small form before December 16th. 6.29 PM GMT / 11.59 PM IST. In case, you could not fill-up the form to whitelist yourself in time, don’t worry you can always buy $MAHA tokens from Uniswap.

If I get whitelisted, am I assured of the allocation?

No. If you are whitelisted along with several others, you have the right and opportunity to buy the IDO. That being said, this in no means a guarantee of the allocation. The public sale will be on a FCFS (first come first serve) basis, meaning the buying window is open to all whitelisted participants at a set time & the sale closes as soon as the IDO supply is exhausted.

Why is there a max cap per person? What if 250$ per address is not enough?

The max cap feature on Polkastarter allows us to conduct a fair sale & an even opportunity for buyers. More so, it distributes MAHA tokens into more hands & avoids the inequality problem. Besides, if you think the allocation is too little for your portfolio, you can always buy on Uniswap, which will open on the same day, later after the IDO.

It shows a really high gas fee on my Metamask when I transact. Why so?

Gas fees are an inevitable requirement of transacting on the Ethereum network. As of today, the Polkastarter DEX allows only ETH transaction. While we are aware that sometimes gas fees are high it is beyond anyone’s control. Gas fees are calculated depending on the traffic at a given time.

Also if the sale has been completed, the Polkastarter platform will show a very high gas fee but this is just indicative, the transaction will not actually go through.

Conclusion

We have tried our best to ensure. A 24-hour shift in has been put by the entire team to ensure that the Whitelisting procedure is fair to all.

About MahaDAO

MahaDAO is a community-focused decentralized autonomous organization that is on an explorative journey to create the world’s first valuecoin, ARTH.

MAHA Tokenomics — https://medium.com/mahadao/introducing-the-maha-token-3423d790fbe3

MAHA IDO Sale Fundamentals: https://medium.com/mahadao/mahadao-ido-on-the-17th-dec-with-polkastarter-exclusive-details-9153e606c648

What is MahaDAO?: https://medium.com/mahadao/what-is-mahadao-5bd52476883e

MAHA token on Etherscan: 0xb4d930279552397bba2ee473229f89ec245bc365

Please note: Participants/inhabitants from China, South Korea, Singapore, Japan, Canada, USA, Puerto Rico, Brazil, France, Malaysia, Nigeria, Philippines, Russia, UK, US Virgin Islands, & any other possessions of the United States are not permitted to participate in any kind of sale conducted by MahaDAO because of restrictions enacted in the said regions.

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