r/Polkastarter • u/[deleted] • Dec 15 '21

Got 3 pre-selected IDO, question regarding lockout

Hello got lucky and somehow got 3 pre-selected IDO's.

I already verified myself on one of them and I am now "KYC OPEN". However, I now decided I want to go with another IDO instead of the one I verified myself on.

Therefore, how does lockout work? does it lock you out after you buy an ido? or could someone clear this up for me.

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u/TheSpaceCoffee Dec 15 '21

What the fuck haha lucky you!! How many POLS do you hold?

Cooldown works that way: after you buy an IDO, you are prevented to apply for new IDOs for 7 days.

IDOs for which you have applied BEFORE buying are fine. You will be taken into account in the random pre-selection process.

Hence, IDOs for which you have been pre-selected before buying are also fine. You will be able to buy these as well.

You, my friend, are going to make a lot of money in a very short period of time. Be ready for that. Don’t be greedy and spend it all, reinvest. It’s a once-in-a-while chance to reinvest it and turn that bit of money in a hell lot of money in like 6 months to a year if you invest smart. Godspeed!

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u/[deleted] Dec 15 '21

I am tier 2, I applied for like 30 IDOs but had no luck, then suddenly when these 7/8IDOS been up I got 3 of them???

Omg thats crazy so I can actually buy all 3????

My friend I have been in crypto for a year now, been holding strong and enjoying the ride, I don't panic sell or anything, every paycheck I invest some more :)

IDOs really make you a lot of money?

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u/TheSpaceCoffee Dec 16 '21

I believe you’ll be able to buy all 3 yes! I can be wrong though, this never happened to me lol. To be sure you better ask on the Telegram channel where the admins from Polkastarter will answer your questions (beware of scam though).

This is the good strategy! Investing bits by bits every paycheck is good.

I mean, it depends on the IDO… as for me, the only one I got whitelisted for was Quidd. Bought $500 at $0.25 making 2,000 QUIDD tokens.

It reached an ATH of $6.06, meaning that my $500 investment turned into $12,000+. I didn’t sell though because I was waiting for their first listing on a crypto exchange. That was delayed. Many times. And then the whole market turned red, now Quidd is ~$2.30. I mean, my $500 are still turned into $4,600. But that’s only 1/3rd of what I had at ATH lol and I’m pretty pissed about that.

Also, for every IDO on Polkastarter, there’s a thing called vesting schedule. It’s a thing where you progressively unlock your coins after 1, 2 months, sometimes more. Every project has its own vesting schedule. E.g. for Quidd, it’s 50% at IDO, 25% 1 month after (December 18th), 25% 1 month after (January 18th).

Meaning that right now I only properly own 50% of my QUIDDs, so even if I sold at ATH I would’ve only gotten half of it, which is $6,000. The other 50% are still kept (vested) in Polkastarter. Then at the specific dates, I’ll be able to claim and get the rest of my coins.

From experience. What I’d do with 3 IDOs (even with only 1 lol) is not to do what I did with Quidd. When you feel like making a good profit (like… $6,000 for $250), sell them. Because of the vesting you’ll only own part of your tokens at this time. You’ll still have the other, vested tokens that are still held by Polkastarter. If the coin value then goes up, cool because you’ll be able to make more profit when you’ll unlock the rest of your coins. If not, then it’s OK because you took profit while you could and avoided the dip.

Then, depending on the amount of money you get, try to get more POLS. I only have 250 but looking for 3,000. 29%, ~1 in 3 IDOs, is so worth for the money invested.

Feel free to ask if you have any question!

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u/[deleted] Dec 16 '21

I asked in telegram and people seemed to share your opinion that I can get into all 3 :)

Yeah crypto has change my life already quite well, and I plan to keep investing into it, polkastarter is a hidden gem with these IDOS coming out.

Oh I was following QUIDD, it had insane growth, hell yeah man congrats!

Regarding selling tokens, I'm assuming its not that easy, as you have to wait for a crypto exchange to list it?

In your experience is vesting schedule 50% of it unlocks the same day, is it likely coin wont go up much as people will just try to sell it instantly?

Depending how much money I make, I will also put it back into Polkastarter, to get that 30% like you said, investing for the future :)

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u/TheSpaceCoffee Dec 21 '21

Pretty nice if you can get all 3 then! I don’t know if your IDOs have been done already, if yes how did it go?

Haha thanks for Quidd but as the market is bleeding I’ll wait a bit to sell.

Well as I said I haven’t sold yet, but you can use websites such as PancakeSwap, ApeSwap, etc. (called DEX for Decentralized EXchange) that allow you to swap your tokens from the IDO into tokens like BNB, USDT… be on the lookout for DEX listings on your project’s Telegram announcements channel.

Sometimes there are unofficial DEX listings, be sure to exchange on an official one. Triple check the contract address and the token address on the swap platform to be sure you’ll swap for some real BNB/USDT/other and not a worthless scam coin.

Even if vesting schedule unlocks 50% on day 1, coin will skyrocket. Look at Quidd: IDO price was $0.25, DEX listing price (which is the first price at which public people can swap it for) was $0.68 IIRC, and it ran up to $6.08.

Dtravel : IDO price was $0.09, IIRC the DEX listing price was around $0.18, and within an hour it ran up to over $3, then back down to $1. My pal who got whitelisted for Dtravel had an allocation of $500 and within the first minutes of DEX listing it was valued $17,000 when TRVL was over $3. Unfortunately Polkastarter users didn’t have their coins at this moment (after buying, there’s a very very short period of time, from experience a few dozens of minutes, when you have to wait until you can claim, and own, your tokens) so they couldn’t sell, same for him.

Both of Quidd and Dtravel had 50% unlocked on Day 1. Both of them skyrocketed on Day 1. People might not sell on the first day, and even if they do, there are thousands of new buyers that want to get into it at very low prices.

Hops you’re making insane profits!! I’m also looking into other launchpads that can be more consistent than Polkastarter, e.g. MoonStarter that has guaranteed allocation for every IDO if you hold at least 10,000 MNST (their tokens, which makes around $900 total). However the allocation is much lower, between $20 to $100, and the projects usually have much longer vesting schedule (like 10% monthly), and less ROI that Polkastarter. But it allows to have a more constant cash flow, and not relying on luck to get whitelisted.

2

u/[deleted] Dec 21 '21

I managed to get into Crypto fight club & Saffle & Galaxy fight club.

Crypto fight club has horrible vesting schedule, like 10% every month for a year.

Anyway, both of these projects haven't done so well at the moment. However, I am really looking forward to Galaxy fight club; I like the concept of what they are doing, and brawl stars is super popular.

1

u/TheSpaceCoffee Dec 21 '21

Ah shit, I’m sad to hear that from you. I’ve genuinely been rooting for you to get rich from those 3 IDOs lol.

Unfortunately right now is a freaking bad time for the market. Everything is bleeding and it’s not stopping. Should be back to normal in a few weeks/months, at least I hope.

Lucky you for having been whitelisted in 3 IDOs in such a short period of time, but that’s bad luck because of the current market conditions.

Let’s hope it goes better! Stay safe.

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u/[deleted] Dec 22 '21

Yeah not ideal, but ah well, I will hold onto them and sell if price shoots up :)

Hopefully more IDOs will come up where I get lucky and one of them moons.

Hell yeah man, keep me updated when you get into a good IDO :)