How to participate in IDO on Seedify Fund?

The gaming industry is going through a revolution with the introduction of blockchain technology. The play-to-earn concept is becoming widely popular in the gaming industry. With all the boom in this sector, blockchain based gaming startups are looking forward to raising funds for their new projects. 

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Thus, Seedify Fund came into picture to help these startups with their IGOs. Seedify Fund is a decentralized incubator and a launchpad which is used to launch blockchain games. The startups get investments and the gamers get to win NFTs and in-game tokens, thus forming a complete ecosystem. 

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Seedify Fund is one of the best launchpads with about 2,143 active IGO participants. So far they have raised $ 9.19M funds while giving ATH average ROI of 51.66x. In this tutorial we are going to learn how to participate in Seedify Fund. But before that, let’s take a look at what Seedify Fund is.

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What Is Seedify Fund?

As mentioned before, Seedify is an incubator and launchpad for gamers as well as blockchain games. Games were supposed to just be a way to pass your time before but now they have become so much more as people have started earning through them. They have brought NFTs and tokens into the limelight even more.

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Due to all these revolutionary processes, transparency, incentive models as well as NFTs, blockchains have benefited hugely. Seedify gives you a curated IGO and helps a number of blockchain games raise funds along with building the community and assisting with the marketing.

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Seedify Funds provide an avenue for the community to gather tokens of the future blockchain games prior to them getting listed on Crypto Exchanges. Blockchain gaming is going to attract tons of new users to blockchains and hence create a number of jobs as well as provide many financial benefits along with giving a rise to the adoption rate of blockchains.

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Seedify funds are blockchain idea hubs that are going to help improve the blockchain ecosystem with a DAO-driven seed stage funding along with being a decentralized incubator and launchpad. To participate in it, one only has to submit their project to Seedify.fund DAO and the community would vote on it and if they win, they'll get the seed funds.

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The projects that get the seed fund receive token rewards from the selected projects and a DeFi seed fund mechanism is created so that diverse portfolios are created through staking SFUNDs. You will find more on staking SFUNDs further below in the article.

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Seedify launchpad provides a great environment for IGOs and hence, the SFUND holders get to take benefit of this launchpad through the tier allocation system. To understand the tier system, read the following topic.

Understanding Updated Tier System Of Seedify 

Earlier, the Seedify tier system used to have only 3 tiers but that has been updated since and now it has a 9 tier system. All these 9 tiers are now guaranteed so that is a definite improvement. But there were still some issues with the first version of it.

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The first version was made based on guaranteed allocations for every tier with a pool weight formula. If you went to the next bigger tier, then you would also get high pool weight bonuses. 

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This system formed a much fairer system as compared to the old 3 tier system but there were still some problems when the amount of participants increased exponentially; these participants wanted to join the IGOs.

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A lot of launchpads use a system that is lottery based. Seedify tried to rectify that by giving guaranteed allocation to every participant in all the tiers but the issue with that was that because of a huge crowd, the guaranteed allocations of the lowest tiers were getting very small allocations. Along with that, the bonus pool weight structure was very drastic as well.

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Hence, to solve all these issues, Seedify came up with a better 9 tier version where they will allocate to the lowest tier based on a lottery system i.e. Tier 1 will be lottery based. They will also have an updated pool weight formula which will give a chance to the lowest tiers to become guaranteed by 2nd phase option.

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The updated tier system is:

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Tier 1: 1.2 pool weight (lottery based); 250 SFUND

Tier 2– 2 pool weight(guaranteed); 1000 SFUND

Tier 3– 5.5 pool weight(guaranteed); 2500 SFUND

Tier 4– 12 pool weight (guaranteed); 5000 SFUND

Tier 5– 19 pool weight (guaranteed); 7500 SFUND

Tier 6– 26 pool weight (guaranteed); 10000 SFUND

Tier 7– 70 pool weight (guaranteed); 25000 SFUND

Tier 8– 150 pool weight (guaranteed); 50000 SFUND

Tier 9– 325 pool weight (guaranteed); 100000 SFUND

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In this updated system, there are bonus pool weights as the tier increases and the noticeable thing is that they are not drastic and hence, they have a very fair distribution based on the SFUND holdings. The participants of the lowest tier, who win the lottery are going to get to participate with a better allocation compared to the original 9 tier system's version.

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The increasing tiers are also going to add value benefits in the Private rounds that are for Tier 6 and above and for the Seed club that the Tier 9 will participate in if allocations are still left.

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This updated tier system is better as the bonus weight creates added value for high tiers and the pool weight formula is a lot more balanced and that makes it overall more fair to the participants who want to get benefits from IGOs.

How to participate in Seedify

People are quite interested and want to play through Seedify IDO. To get involved in IGOs through Speedify IDO, users should get tokens before the game gets listed on the platform. Before participating in IGOs, you should understand some basic steps to get registered. 

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Here we present a guide for you, we’ve tried to cover everything starting with the KYC process. Later we will discuss the rest of the process for Speedify IGO. For now, let’s just get started with KYC Process. 

KYC Process

Every user who participated in Seedify IGO should go through the KYC process. The KYC in the crypto space is completed through a third-party application. For seedify, the third-party application used for the KYC is Blockpass. 

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As per the government law (applied by most of the nations), KYC verification is the most important process for any application or market which involves money and banks in it. 

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There are some nations that banned the use of tokens, because of such a situation citizens of particular nations cannot participate. As the platform has to adhere to the regulations and all the services are provided whilst following all rules and regulations of a particular country. 

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After completing the KYC process users can participate in IGOs according to their tier and SFUND holdings. 

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 Let’s start with the verification process, a guide with steps is outlined below:

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1. The First step is to open the KYC page.
2. A dialogue box saying “verify with Blockpass” will appear. Click on the Box.
3. After that, a page with all information of required documents will appear, at the bottom of it, a dialogue box of “start” will appear. Click start. 
4. Next, the site will ask you to input your Email, after filling in the information click on “Continue”
5. Later, you will receive an email from Blockpass for confirmation, click on “Continue Registration” in that email. If you didn’t receive any email, you can click on “Resend Magic Link” on Seedify.Fund website. 
6. For the further registration process, you will have three options: Passport, National ID, and Driving License. You can choose any of them, or go for a national ID and select the country you are from and fill in further information. 
7. For National ID, you will be directed to the page saying Launch Camera, here you have to take a picture of your ID, front and back. 
8. After taking the picture the system will scan the information and fill it in automatically or you can edit it manually. 
9. The further process includes taking a selfie-style photo of yourself. For that, click on “Take a picture”.
10. For address proof, you have the option to take the picture by clicking on “Launch Camera'' or by uploading the photo of address proof from your computer. Proof of address should be issued within 3 months, should be issued in your name, and should state the address you have declared. 
11. The next step is to fill in personal Info, fill out all the required parts including address. 
12. You will be directed to the page of Ethereum address, keep the “Label” unchanged. Copy and paste the wallet address in the “address” line.

NOTE: Paste the wallet address you hold for SFUND, not your exchange address.

13. The last step, click on Register, your KYC will be verified soon and you will get the notification about the conformation

Pre IGO Process

In the pre-IGO period, you will have to choose a tier in the tier system. Keep in mind that the more SFUND you possess, the more token configurations you will get from the IGOs. So if you do not have any SFUND, you can buy them from marketplaces like Pancakeswap, Kucoin, etc.

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If you want to participate in Seedify IGOs, the wallet you use in the KYC process should be the same as the wallet with which you socialize in the launching pad smart contract. So if you are going to buy tokens from a centralized marketplace, you will have to transfer those tokens to a decentralized wallet.

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Your best option in this process would be to get a cold wallet which is connected to a Metamask as it gives you the best security while you are interacting with the blockchain technology.

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Coming to the staking of SFUND, Seedify sealed the staking with 4 lock periods choices that are:

7 days — 5% APY

14 days — 11% APY

30 days — 25% APY

60 days — 55% APY

90 days — 75% APY

180 days — 90% APY

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The SFUND suppliers will have to stake their LP tokens in the Dashboard's Farm portion and they will also be allowed to use the built-in calculator to make comparisons. The APY for each lock period depends on the quantity you are going to be staking.

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You should keep in mind that the staking of SFUNDs should be done until 24 hours before the IGO day to be considered for the whitelist because the snapshots get taken 24 hours prior to the IGO day.

IGO Day

At the event of the IGO day you have to follow some steps to participate in it and they are:

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1. Go to https://launchpad.seedify.fund/

2. Connect your wallet to the Seedify launching pad.

3. Select the project pool that is the IGO.

4. Then proceed to 'Buy Tokens' on the site.

5. Gather information as per your exchange based on your maximum allotment and then confirm your swap, this will complete the IGO process.

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After all that is done, your tokens would be transferred to your wallet according to the encashment schedule.

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Conclusion

If you are a complete novice when it comes to the Seedify Fund, this tutorial will introduce you to the Seedify platform and it will guide you through each and every basic step you need to know to participate in a Seedify IGO.

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However, if you are already an investor, I hope you got familiar with Seedify's new updated tier system. So far, we have gone through various aspects of Seedify Fund and IGOs. If you have any doubts regarding how an IGO works, check out our other articles about the same. 

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