We highly appreciated your active participation in the PolkaRARE IDO on the Red Kite launchpad on May 11, 2021.
During PolkaRARE’s IDO, an unexpected event occurred when participants were unable to swap $USDT for $PRARE directly on the Red Kite launchpad. While Red Kite Ethereum pools are designed to be as flexible as possible to support not only $ETH but also any other ERC20-compatible tokens such as $USDC and $PKF, the cause was because the ERC20 version of $USDT on Ethereum on mainnet is broken so that its transferFrom function didn’t return a Boolean flag as required by ERC20 specification.
Immediately, plan B was deployed to ensure maximum benefits for all IDO participants so that they receive their full allocations according to the announced schedule. At the same time, Red Kite’s technical team fixed the problem to support both standard ERC20 tokens and $USDT using a workaround solution, brought Red Kite back to normal operation, and also upgraded the launchpad to be ready for the next IDO.
For Red Kite to be more and more completed and for the Red Kite team to bring better experiences to all IDO participants on our launchpad, we would love to receive comments and ideas from you, our communities’ member, on 2 matters as follows:
1. Token to purchase IDOs on Red Kite
There are some aspects you might consider before casting your vote:
|USDT/USDC pool||ETH pool|
|Fee||Cost more||Cost less|
|Pool’s popularity among launchpads||Not much||Very popular|
- Both options
2. “Topup" feature on Red Kite
We came up with an idea about the Top-up feature on Red Kite that helps users save gas fees by not having to transfer their funds to Red Kite every time a new IDO occurs.
This feature allows you to only send your token purchase fund once to a smart contract created by the PolkaFoundry team. PolkaFoundry team is NOT in charge of your funds, it is the smart contract’s job.
Let’s say you send 250 USDT to our smart contract for IDO participation. You can buy the next IDO with 100 USDT. You have 150 USDT left to join the upcoming IDOs. You top up your funds when the fee cools down. You can top up and withdraw the fund anytime you want.
- Love it
- Hate it
Please kindly note that every vote matters. We will put the final results into consideration which would significantly affect our decision-making in product development later.
Let us know what you think and the reason why you choose those options above.
If you have any more improvement ideas for Red Kite beyond the 2 topics above, feel free to share with us. Thank you for your time.
About Red Kite
Red Kite is a cutting-edge launchpad powered by PolkaFoundry as part of the growing $PKF ecosystem. We focus on solving two major problems of early-stage projects: limited marketing and lack of investors due to fraud concerns. Projects on Red Kite are carefully hand-picked through a vetting process that considers everything from the project teams’ origin to legitimacy and execution capability. These projects are also supported by a network of our tier-1 marketing partners, top influencers, and interactive communities to help them soar.
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