With the KSM Starter’s TGE (Token Generation Event) and the subsequent IDO (Initial DEX Offering) scheduled for October 7, 2021 approaching quickly, the KSM Starter team is delighted to announce the opening of the IDO whitelist campaign. The whitelist will be open for 48 hours only, starting at 13:00 (1:00PM) UTC on October 1, 2021 and closing at 13:00 (1:00PM) UTC on October 3, 2021.
The KSM Starter IDO Whitelist has fundamental differences compared to a traditional IDO whitelist. We strongly urge our community to read this guideline thoroughly.
How to Apply for IDO Whitelist
In order to apply for the KSM Starter IDO whitelist, participants must be following KSM Starter on Twitter, have joined the KSM Starter Telegram community, and have subscribed to the KSM Starter Telegram announcement channel. Here are the links, respectively:
KSM Starter on Twitter: https://www.twitter.com/ksmstarter
KSM Starter community on Telegram: https://t.me/ksm_starter
KSM Starter Announcement Channel on Telegram: https://t.me/ksm_starterANN
Next, participants are required to complete the Gleam campaign. The link for the Gleam campaign is:
During the 48 hours of run-time, participants will have the chance to increase their chances by completing more tasks on Gleam and earn additional entries. The more entries one may earn, the higher one’s chances of becoming the whitelist winner will be!
It is crucial that the participants submit their wallet addresses that were used previously in transactions, thus carrying transactional history.
Introducing Industry-First Whitelist Modulation Model
KSM Starter believes in positively rewarding those who are true believers and supporters of decentralisation and Web 3.0. The KSM Starter team believes that the pre-existing whitelist model allows fraudulent parties to use unfair methods to increase their chances of winning the whitelist, and bearing the costs on the true community members. For this reason, KSM Starter is introducing the industry-first, never-seen-before whitelist modulation model.
The whitelist modulation model requires all participants to submit their ERC20 wallet addresses that have transactional history. The more history the wallet carries, the more accurately the model will function. KSM Starter will conduct a wallet analysis on the wallet addresses submitted, creating a holistic profile of each participant. The wallet analysis will use undisclosable criteria to create and assign weight to each wallet, in which the weight will subsequently decide the size of the individual allocation.
This means that in the same whitelist, some may receive higher allocation size if the wallet analysis indicates that they have scored highly in the set criteria. KSM Starter is mindful of creating a gap that could potentially seep into creating a long-term inequality on the KSM Starter platform, and have been researching vigorously to create positive rewards for our community that deserve it the most, while mitigating for any potential inequality.
To combat this, KSM Starter’s whitelist modulation model sets a min-max boundary on the degree of the modulation, ensuring that the difference between the smallest allocation and the biggest allocation is controlled.
The wallet analysis is agnostic to the size of the transactions made, and the current balance of the wallet. This gives the most amount of fair chance to even the smallest investor, as long as the investor has shown true support to the projects he or she has invested in prior. This way, KSM Starter is bringing the power back to the hands of everyday people.
This modulation does not apply to those who have already been assigned whitelist allocation through partner AMA events.
Caution to Keep Your Investment Safe
In order to keep your investment safe from fraudulent parties, it is essential that you stay vigilant and detect potential red flags of fraud. Here are some of the most common red flags:
- Community Moderators will never DM you. All inquiries to the CM can be done in the open Telegram community.
- No member of KSM Starter will DM you. Should the KSM Starter team need to reach you, an official email will be sent. The legitimacy of the email received should always be checked by inquiring about it to the community moderators.
- There is no secret whitelist or additional investment slot. Any offer of such is an outright scam and should be reported.
- There is no team token being secretly sold. If you are approached by someone posing as a team member seeking to sell his or her tokens, it is a scam and should be reported.
- The official communication channels of KSM Starter are our social media channels. The legitimate links are listed at the bottom of this article.
- Never give your seed phrase to anyone. Never publicly post your wallet address.
- The official smart contract address of KSM Starter Token ($KST) will be announced on TGE day. Do not make any assumption about the smart contract address. There may be fake liquidity pools created with fraudulent $KST tokens.
- It is always good to be sceptical. If something sounds too good to be true, it probably is.
The team at KSM Starter sincerely thanks everyone in the community. It has been an exciting journey for everyone at the team, and we are truly honoured to have our community’s continuous and eager support. We look forward to having a successful launch, and we will continue innovating cutting-edge solutions to provide further value to our community and the projects that are scheduled to launch through KSM Starter.
Stay safe, stay vigilant, and best of luck!
About KSM Starter
KSM Starter, the primary launchpad on Kusama, is built to provide early-stage support and public funding for projects building on Substrate. KSM Starter’s incubator modeled launchpad is driven by the community and shared values of fairness, transparency, and decentralized organization. Unique to the KST ecosystem, community members are incentivized to participate in the pre IDO selection process through higher allocation rewards. Also unique to KSM Starter, collaboration is fostered among launched projects by incentivizing community members to support previous launches by awarding them with improved lottery odds. This along with the KST Ecosystem Council generates a synergistic network effect that empowers all projects to succeed and leave a lasting impact on Kusama.
KSM Starter is set to offer its native KSM Starter Token (KST) to the public in the form of IDO (Initial DEX Offering) on October 7, 2021. Stay tuned to the official twitter and telegram to remain updated on important announcements.