General rules for LaunchBase events are outlined below. To access project-specific rules, please refer to the latest event announcement.
Ⅰ. Event Schedule
A LaunchBase event typically unfolds in three phases: user registration, user subscription, and system settlement. Under certain scenarios, the ongoing event is backed by the price stabilization mechanism. After the secondary market opens, if the token's closing price falls below its subscription price at the end of a trading day, a refund phase will be initiated.
Example:
The schedule for a specific LaunchBase event is as follows:
1. User Registration: 00:00, Jan 1 - 19:00, Jan 4 (HKT)
2. User Subscription: 15:00, Jan 4 - 19:00, Jan 4 (HKT)
3. System Settlement: 19:00, Jan 4 - 20:00, Jan 4 (HKT)
4. Secondary Market Opening Time: 21:00, Jan 4 (HKT)
5. The refund phase will be initiated when the token price falls below its subscription price. For precise timing details regarding the refund phase, please refer to the latest event announcement.
II. Hard Cap Per User
During the warm-up phase, Poloniex will employ multiple approaches to determine the hard cap for each user. The highest eligible amount a user can receive will be designated as their final hard cap for participating in the subscription.
1. During the registration phase, users can promptly find out their hard cap by clicking on the registration button. The user's hard cap is determined based on the timing of registration.
2. The user's hard cap is also determined by the average holding of a specific cryptocurrency for multiple days in their spot account.
Example:
Here are the rules for the user's hard cap for a LaunchBase event:
The hard cap is determined based on the user's specific enrollment time during the registration phase, which spans from 00:00 (HKT) on January 1 to 19:00 (HKT) on January 4.
| Enrollment Time | Hard Cap (USDT) |
| 00:00, Jan 1 - 00:00, Jan 2 | 10,000 |
| 00:00, Jan 2 - 00:00, Jan 4 | 8,000 |
| 00:00, Jan 4 - 19:00, Jan 4 | 5,000 |
Snapshot of TRX positions: The hard cap is also determined by the user's average TRX position for the period from 00:00 (HKT) on January 1 to 00:00 (HKT) on January 4.
| Average TRX Holding | Hard Cap (USDT) |
| ≥ 100,000 | 15,000 |
| ≥ 50,000 | 10,000 |
| ≥ 10,000 | 5,000 |
| ≥ 100 | 1,000 |
User A registered on the LaunchBase event page at 12:00 (HKT) on January 3 and maintained holdings of 50,000 TRX and 100,000 USDT in the account from 00:00 (HKT) on January 1 to 00:00 (HKT) on January 4. User A will receive a hard cap of 8,000 USDT based on the registration time, along with an extra 10,000 USDT determined by the snapshot of the average TRX holding. Consequently, User A's final personal hard cap is 10,000 USDT.
Ⅲ. Subscription
During the subscription phase, users have the option to subscribe with a variety of assets at the pre-announced subscription price. The maximum subscription amount for each user is defined by their final personal hard cap obtained during the event warm-up phase. For a specific list of supported assets and corresponding subscription prices, please refer to the event announcement.
Ⅳ. Token Allocation
1. Under-subscription
The number of tokens allocated to a user = the amount of funds invested by the user/token subscription price.
Example:
In the context of a particular LaunchBase event, the issuance comprises 20,000,000 tokens, with a fundraising goal of 200,000 USDT and a subscription price of 0.01 USDT per token. Let's consider a scenario where only 10 users participate in the subscription, collectively contributing 150,000 USDT, which falls short of the 200,000 USDT target. In this LaunchBase event, User A invested 10,000 USDT. In such a case:
The number of tokens allocated to User A would be calculated as follows: 10,000 / 0.01 = 1,000,000 tokens.
2. Over-subscription
The number of tokens allocated to a user = the amount of funds invested by the user / total funds invested by all users * total tokens issued in this LaunchBase offering
Example:
In the context of a particular LaunchBase event, the issuance comprises 20,000,000 tokens, with a fundraising goal of 200,000 USDT and a subscription price of 0.01 USDT per token. Let's consider a scenario where 10,000 users participate in the subscription, collectively contributing 2,000,000 USDT, which exceeds the 200,000 USDT target. In this LaunchBase event, User A invested 10,000 USDT. In such a case:
The number of tokens allocated to User A would be calculated as follows: 10,000/2,000,000 *20,000,000=100,000 tokens.
Ⅴ. Token Distribution
After the completion of the settlement process, the system will automatically deduct the corresponding funds from the user's account. Any remaining unsubscribed funds, along with the tokens owed to the user, will be reimbursed to their spot account.
Ⅵ. Price Stabilization Mechanism
For certain LaunchBase events, project teams may implement measures to support participants in the event of a decline in the token price. Within the specified time frame, if the token's closing price falls below its subscription price at the end of a trading day, Poloniex will activate a refund channel. During the designated period, users can visit the event page and choose to redeem tokens at the subscription price, with the maximum redemption amount capped at the actual number of tokens successfully subscribed.
Example:
In a specific LaunchBase event featuring price support, User A successfully subscribed to 1,000,000 tokens at a subscription price of 0.01 USDT per token, with a total investment of 10,000 USDT. Subsequently, User A purchased an additional 500,000 tokens after the token's listing. However, on the third day following the token's listing, the closing price dropped to 0.005 USDT, triggering the price stabilization mechanism. Poloniex allows users to initiate a refund within a two-day period starting from the fourth day at 12:00. By the end of the refund phase, User A redeemed a total of 1,000,000 tokens at the subscription price of 0.01 USDT per token. Additionally, User A chose the opportune moment to sell the 500,000 tokens acquired through trading at their own discretion.
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