Bitcoin and Ethereum Standard Token (BEST) will start a Crowdpooling campaign on DODO BSC on May 17th, at 10:00 PM UTC+8 (Singapore Time). The proceeds will be used to create a liquidity pool for BEST after the Crowdpooling and users will be able to trade BEST with arbitrary BEP-20 tokens on DODO.
Crowdpooling on DODO is an equal opportunity way to distribute tokens and establish liquidity markets. The project team provides its project/governance tokens, and sets the token price and the amount of tokens to be issued. Anyone can subscribe to purchase the tokens during the campaign period.
If the overall subscription amount by participants is higher than the Crowdpooling hard cap, then all participants will receive tokens proportional to their shares of the pool at the initial price. At the end of the Crowdpooling period, the corresponding token liquidity pool will be created and open for spot trading.
Project Name: Bitcoin and Ethereum Standard Token (BEST)
Token Contract Address: 0x667bEbFf5cda3C4A460B514aB478Da0A8cF80910
Total Number of Tokens Provided by Project Team: 15000 BEST
Crowdpooling Token Allocation (Number of Tokens for Participants): 7500 BEST (0.15% of the Total Token Supply）
Crowdpooling Hard Cap: 60,000 BUSD
Crowdpooling Token Price: 1 BEST = 8 BUSD
Personal Hard Cap (Optional, delete if not applicable): 144 BUSD
Crowdpooling Link: DODO - Your on-chain liquidity provider.
Whitelist Link: Closed
Crowdpooling Start Time: 10:00 PM May 17th, 2021 UTC+8 (Singapore Time)
Crowdpooling End Time: 00:30 AM May 18th, 2021 UTC+8 (Singapore Time)
Liquidity Protection Period: 30 Days
Note: After the conclusion of the Crowdpooling campaign, Token Symbol tokens will be immediately sent to each participant’s wallet. DODO will then make the BEST available for public trading for any BEP20 at the Crowdpooing Price.
How to Participate
- Since this Crowdpooling campaign is on the Binance Smart Chain (BSC), you will need to use a wallet application that supports BSC. Some examples are MathWallet, TokenPocket, and Trust Wallet.
- Please beware that you will need BNB on your wallet to pay for transaction gas fees. It is recommended that your balance is at least 0.05 BNB.
- You will need BUSD in your BSC wallet to participate in this Crowdpooling campaign.
- Visit https://v2beta.dodoex.io/cp/join and connect your BSC wallet to the browser.
- How do I switch to Binance Smart Chain (BSC) on DODO?
- How to participate in a Crowdpooling campaign?
Additional Notes on Crowdpooling
Do NOT send tokens to or interact with the Crowdpooling contract address before or after the Crowdpooling campaign. Your tokens may be lost forever and DODO is not liable for any asset losses due to user contract interactions outside the Crowdpooling period.
You can freely adjust your Crowdpooling stake amount at any time before the Crowdpooling campaign ends.
If the total staked amount by participants is below the Crowdpooling hard cap, then all participants will receive tokens normally (i.e. the number of tokens received = the amount participants staked / token price). The leftover tokens will be put into the liquidity pool and become available for spot trading.
If the total staked amount by participants is over the Crowdpooling hard cap, then all participants will receive tokens proportional to their shares of the pool, at the initial offering price. Any difference between the amount participants staked and the actual cost of the tokens (i.e., token price * the number of tokens actually received) is then refunded back to participants.
Note: Due to the flexibility of DODO’s Proactive Market Maker (PMM) algorithm, the opening price, once spot trading begins, can be equal to the Crowdpooling token price, even if the hard cap is not reached. That is, the opening price is not determined by the amount of assets in the resulting liquidity pools. How it works under the hood is that the PMM algorithm truncates part of the bonding curve and assumes that there is a certain amount of buying support in the market. Even if the amount of capital contributed by participants is low, the opening price can still be the Crowdpooling price, and the resulting bonding curve will have a minimum/floor price. Funds staked by users can then push the token price from the minimum price to the Crowdpooling token price.
- Participation in Crowdpooling is NOT risk-free. DODO is not liable and will not be offering compensations for any asset losses caused by factors such as project mismanagement, arbitrary and/or malicious token minting, and secondary market manipulation. Cryptocurrencies are a high-risk asset class, so please always proceed with caution and beware of various risks.
Name: Bitcoin and Ethereum Standard Token (BEST)
In the BEST ecosystem, holding BEST is equivalent to holding cryptocurrency mining power. As long as you go to DAPP to stake the token or add the liquidity of the corresponding trading pair on the decentralized exchange, you can continue to obtain mining rewards.
BEST will bring meaningful liquidity to tokenized BTC and ETH mining capabilities. With the development of the BEST ecosystem, holding BEST will also obtain more mining rights for high-quality crypto assets.
Official Website: https://bestokens.network
Welcome to the DODO Zoo!
DODO is a decentralized exchange platform powered by the Proactive Market Maker (PMM) algorithm. It features highly capital-efficient liquidity pools that support single-token provision, reduce impermanent loss, and minimize slippage for traders. The trading platform also offers SmartTrade, a decentralized liquidity aggregation service that routes to and compares various liquidity sources to quote the optimal prices between any two tokens. In addition, DODO removed all roadblocks hindering liquidity pool creation for the issuance of new assets - asset ratios, liquidity depths, fee rates, and other parameters can all be freely customized and configured in real-time.
Official Website: https://dodoex.io
March 13th, 2021