How to participate in the CoinsPaid IDO: a step-by-step guide
On August 24, you’ll be able to buy CoinsPaid CPD tokens at the lowest possible price during the IDO, or Initial DEX Offering. This is an opportunity not to be missed: CoinsPaid is the fastest-growing crypto payment ecosystem out there. If you’ve never participated in an IDO, don’t worry: follow the steps in this guide and you’ll find it easy.
Why purchase $CPD at the IDO?
CoinsPaid is one of the world’s leading crypto payment providers and the global leader in crypto processing for iGaming. We serve over 700 merchants and have already processed over 2.3 billion euro’s worth of crypto transactions in 2021.
With the planned expansion into DeFi and the B2C market, CoinsPaid will grow exponentially. Thanks to $CPD, we will offer services like DeFi staking and liquidity mining. Plus, $CPD holders will get discounts of up to 50% on all CoinsPaid services, including crypto processing, wallet transactions, OTC exchange, etc.
This will let CoinsPaid grow into a unique ecosystem based on a large and successful working business branching into DeFi with all its limitless possibilities. You can be part of this exciting (and lucrative) adventure if you join the IDO in the coming days — here’s how to do it.
How to join the IDO on DAO Pad
IDO registration starts: 12:00 PM UTC, August 22
Public sale date: August 24
1) Get MetaMask
If you’re already a DeFi user, you probably have a MetaMask wallet. If it’s your first experience, go to the Download MetaMask page and install this excellent decentralized wallet. Make sure to save the seed phrase and store it in a location where you won’t lose it and where it won’t get stolen. The seed phrase is the only way to restore access to the wallet in the future.
You can also use Wallet Connect, but we recommend MetaMask as it’s universally accepted in the DeFi world.
2) Buy USDC and DAO
For the IDO itself: 500 USDC (USD Coin), equivalent to $500
You can buy USDC on most centralized exchanges for (Binance, KuCoin, FTX etc.), on a decentralized exchanges for ETH (Uniswap), or directly with a bank card (Coinbase, Changelly, LOBSTR etc. — make sure to check the fees before buying).
For staking (obligatory): 500 DAO, equivalent to circa $1000
You can purchase DAO on centralized exchanges (KuCoin, Gate.io), on Uniswap, or directly with a bank card (ChangeNOW, Transac — careful about the fees, though). More info on how to buy DAO
When buying USDC and DAO, make sure to provide your MetaMask wallet address for the coins to be sent there.
3) Create a DAO Pad account
Click on Register, enter your email and choose a password. Use the verification link sent to you by email to finish the registration.
4) Complete KYC
Once you’re logged in, start the KYC procedure. You will need to provide a picture of your ID, passport, or driving license, as well as take a selfie. A proof of address is also required, such as a bank statement or a utility bill. The document shouldn’t be older than 6 months.
5) Connect MetaMask
Click on the Connect button in the top right corner. MetaMask will ask you for confirmation. Note that connecting a wallet is safe: the protocol cannot withdraw any money from it, so your funds are safe.
6) Pre-fund the account
Click on Portfolio and transfer USDC from MetaMask to the DAO Pad account balance. The standard allocation for the CoinsPaid IDO is 500 USDC, so you’ll need to top up at least this amount.
During the IDO, there are usually many more applicants on the white list than actual slots, so only part of the users end up getting tokens. The selection is random, but if the system doesn’t pick you, the USDC will remain on your DAO Pad balance and you can use them for future IDOs.
7) Stake DAO Power
Click on Vaults in the top menu, then on Research and Stake. Choose any of the active vaults and stake at least 500 DAO from MetaMask (see here for instructions). Staking DAO will earn you regular passive rewards, so you can consider it as an additional benefit of participating in our IDO.
8) Register for the IDO
Registrations will open at 12:00 PM UTC on August 24. The IDO itself will take place automatically on August 24. When you see that the status of the CoinsPaid IDO on the main DAO Pad page has changed to Registrations Open, click on Research and Participate. Then, on the project page, click on Participate and accept the IDO terms and conditions. You’ll be prompted to allocated DAO Power to the IDO. If you have staked at least 500 DAO, you should have enough DAO Power.
9) Wait for results
On the day of the IDO, the DAO Pad algorithm will choose the winners randomly. You don’t need to do anything else. Once the sale is over, log in to your account to see if you won.
If you win, 500 USDC will be automatically debited from the account, and the DAO Power you’ve used will be locked for 15 days. If you don’t win, the funds will remain in the account and the DAO Power will be refunded.
10) Receive CPD tokens
If you win a $CPD allocation on DAO Pad, you will receive the tokens in portions once a week over the course of the 4-month vesting period. See Token Distribution for details.