Coinecta is a token-launch platform that enables innovative projects to launch their tokens through an Initial DEX Offering (IDO) fairly and transparently and without help from Venture Capitalists (VCs).
The CNCT token, which can be earned during the FISO (epochs 449-463), ultimately enables holders to participate in IDOs conducted via the Coinecta platform.
The Coinecta launchpad allows innovative projects to launch their token on Cardano. The launchpad is about making sure that the projects launching their tokens do what they have promised. The launchpad is automated to remove the human element which is often a source of corruption. By using smart contracts the Coinecta team aims to facilitate fair and honest token launches that protect investors.
FISO stands for Fair Initial Stakepool Offering and it is a way for projects like Coinecta to use external stake pools to distribute their token, in this case, the Coinecta CNCT token. An Initial Stake Pool Offering (ISPO) on the other hand usually means that a project opens up its stake pool thereby drawing delegation away from other pools. As Coinecta wants to support decentralisation, the FISO model was chosen to distribute tokens.
The participating stake pools have been chosen by the Coinecta team after an application process and review. Those who met the criteria of being a single pool operator (SSPO) and having a stake of less than 5M at the time of application have been chosen by Coinecta as FISO partner pools.
Anyone can participate in the FISO as a delegator at any time and start earning CNCT tokens. Start by delegating to a participating FISO pool and you'll be eligible to claim CNCT at the end of the FISO for the amount of epochs your stake has been delegated to a pool.
The FISO ends on January 30th, 2024 and delegators can start claiming their earned CNCT tokens around three weeks after this date.
Whitelist and public presale of CNCT
Those who want to get tokens early can participate in the token presale. There is a whitelist involving a KYC procedure that you need to go through to be eligible for the public presale. The whitelist registration is open now and will close on November 30th (16:00 UTC). The first presale round starts November 28th (17:30 UTC) and is open for 24 hours.
To participate, simply go to the Coinecta Whitelist page, connect your wallet, and start the KYC procedure provided by SumSub labs.
CNCT makes you eligible to participate in token presales for IDOs that are being conducted via the Coinecta Launchpad. There are however a few steps you have to follow to be whitelisted and eligible for participation.
The first step is staking your CNCT to reach a certain tier. Staking will yield you more CNCT over time and reaching a staking tier will give you additional privileges during the IDO. When a certain tier is reached you can enroll in the whitelisting process to reserve your spot in the upcoming IDO.
By using Coinecta's Launchpad to participate in IDO you can be sure that the token you're investing in is launched fairly and transparently.
Disclaimer: This article is for informational purposes only and does not constitute advice or a recommendation to any recipient regarding the purchase, acquisition, or holding of CNCT tokens, cryptocurrencies, or any other tokens. The purchase and holding of such assets involve substantial risks and may result in the loss of the entire invested amount. Before making any investment decisions, it is essential to carefully consider your financial situation and risk tolerance.