Secured IDO
Users can be guaranteed to claim the token and support the projects they love.
Funds Distribution
TorkPad will only transfer funds in batches according to the project's established vesting schedule. The first batch fund will be transferred within 24 hours of the token listing event on the exchange, and subsequent transfers will adhere to the project's IDO token vesting schedule.
TorkPad will be able to hold raised amounts for refunds in a safe vault in case of rug pools or any other critical failure caused directly or indirectly by incompetent project management.
For example:
A project raises $100,000 in an IDO on TorkPad with a 25% distribution at TGE, a 3-month vesting period, and a 25% token distribution each month.
TorkPad will only transfer $25,000 within 24 hours of the TGE, and subsequent transfers will take place after the project's 2nd, 3rd, and 4th vestings.
Price Maintenance Requirement for the project:
To be eligible for the fund, the project must keep the token price at least 25% higher than the IDO price during the token listing event. If the token price falls below the IDO price for 12 consecutive hours, TorkPad will fully refund the community using the IDO fund.
TorkPad will only transfer the fund at the 2nd vesting if the project's token price is higher than the IDO price. Assume the token price falls below the IDO price for 24 hours in a row (beginning with the 2nd vesting). TorkPad will then refund the community an amount equal to the tokens distributed during this vesting. (As in the example, the refund will be 25%, equivalent to the 2nd fund batch).
Every subsequent token vesting event in the project will have the same requirements as the 2nd vesting. This requirement applies to all projects, regardless of market conditions.
The Refund mechanism will apply to all Investors if the project fails to satisfy the Price Maintenance Requirement.
Last updated
