Oxbull is a launchpad for IDOs on Binance Smart Chain (BSC), which is currently a hot spot for IDOs. For investors who want to get in on a token early, IDOs are an interesting, but also a risky option.
For those of you who do not know what an IDO is, it stands for Initial Dex Offering. It is the equivalent to an IPO, just for Tokens on a decentralized exhange. To find out more about IDOs you can read our article: What is an IDO – All you need to know.
Oxbull an IDO launchpad on BSC
Oxbull is a blockchain project incubator which has already launched multiple initial DEX offerings.
One of the projects that just recently launched on Oxbull is Polkadoge. Although many traders have made good experiences with IDOs on the BSC chain, we cannot stress enough how many scams there are as well. The BSC is still a new network which attracks plenty of scamers. Oxbull is aware of this and is trying to address the issues with scamers directly. A quote from the company white paper reads:
“With the current high demands on Blockchain Projects and driven by wrong intentions, Scams and Rug-Pulls are now becoming more rampant. Oxbull.tech is aiming to change that and help drive the next generation of Blockchain projects.”
Meaning, Oxbull aims to be a safe and scam free launchpad. No easy task considering that scamers and tricksters are becoming more innovative by the day.
How to participate in an Oxbull IDO
There are three ways to participate in an IDO on Oxbull.tech. The investor participation categories are split in tiers. Each individual tier varies by how much OXB token a token holder holds and stakes (see image below).
Tier 1 requires participants to hold a minimum of 8,000 OXB tokens. This comes with a guaranteed IDO position. Tier two is based on a first come, first serve basis. The more tokens one holds, the easier it is to grab a position. To qualify for a tier 2 position, a participant must have from 980 to 4000 OXB tokens.
Important: In order to qualify, it is mandatory that token holders have OXB tokens in their wallet a number a days before the IDO.
And then there is tier 3. In order to qualify for a tier 3 position, one needs to have a minimum of 50 OXB in their wallets.
Finally there is a raffle. Anyone may participate in an Oxbull raffle. All they need to do is go to the website and navigate to the top right hand corner where they will find that option. In the raffle, one may purchase as much as anywhere from 1, 5, or 10 entries at a time. Each tickets costs 3 OXB token. Entering in the raffle, however, does not guarantee that you will win. But if you’re lucky and win, you will be offered a 4000k Tier 2 OXB position.
These are basically all of the details you need to get started with the Oxbull launchpad. To learn more, check out their website: Oxbull.tech.
Always exercise caution when buying cryptocurrency. These tokens are very volatile. This especially concludes newly launched coins with low market caps.