How To Get Started And Participate

Ordify
4 min readDec 29, 2023

Congratulations, making it to this medium means you are ready to get started and understand how to participate on the Ordify platform.

It is important to ensure you have the necessary steps performed correctly in order to participate in all upcoming sales on the launchpad, but before doing so ensure you have enough $ORFY staked according to the minimum requirement to qualify you in participating. Read More about the tier structure

Link, Stake, and Participate —

Ordify will be live on the ethereum blockchain for the use of the platform. The first step is to sign up once the platform is live.

Verification will be conducting using Blockpass and signing up is required to participate in all future launches. Once approved, you will be able to participate in all projects and also be able to refer a friend and earn referral benefits.
To KYC please create your account at https://launch.ordify.world/account

You will have option to link your BRC-20 and Stacks Wallet address to your account. Wallet support will include Metamask, walletconnect, unisat, xverse, orange wallet and ordinals wallet.

Staking is a prerequisite for participation, as you must stake your $ORFY tokens in order to participate. To participate, stake your ORFY tokens in the allotted tier that meet your amount of tokens.

Staking Rewards

Staking offers a dual-benefit scheme. Firstly, participants receive rewards in the form of APR, incentivizing their engagement. Secondly, staking tokens grant users access to the required Tier for participation in IDO fundraises. This mechanism encompasses five staking durations, ranging from 30 to 360 days.

Noteworthy is the correlation between lockup duration and rewards: longer lockup periods correlate with higher APR and higher Tier Staking multipliers. Consequently, participants ascend to higher staking Tiers, translating to amplified individual allocations in IDO fundraises.

You Must stake your ORFY tokens 24 hours before the Crowd sale to be whitelisted since the snapshots are taken 24 hours before each project launch.

ORFY operates as the sole token for the platform. Therefore you only are required to stake ORFY to participate in all launches.

The current Lock, Participate and Earn system is as follows per Staking time. Note the minimum staking period is 14 days.

Staking Time and Rewards:

  • Lockup: 30 days, APR: 1%, Tier Staking Multiplier: 1x
  • Lockup: 60 days, APR: 3%, Tier Staking Multiplier: 1.2x
  • Lockup: 90 days, APR: 5%, Tier Staking Multiplier: 1.4x
  • Lockup: 180 days, APR: 8%, Tier Staking Multiplier: 1.6x
  • Lockup: 360 days, APR: 12%, Tier Staking Multiplier: 2x

Premature/Early Unstaking — Tokens are locked until maturity dates that you staked for. However if unstaked prior to maturity, there will incur a 7% unstaking penalty fee.

TIME FOR THE IDO:
After completing the above steps of KYC, and Staking ORFY 24 hours prior to the sale of projects, its time to participate.

  1. Connect your wallet using metamask or wallet connect (for non-metamask users) to our launchpad (coming soon)
  2. Click on the pool that is available to join under “ All Projects” or under the homepage.
  3. Click on “Buy” and specify the amount you’d like to purchase from the allocated amount, or press max and buy.
  4. Confirm your transaction!
  5. The tokens will then be claimable on our platform parallel to each vesting schedule specified in the vesting section on our launchpad.

Congratulations!! You have now successfully participated in the project and are ready to continue participating. Remember! if you ever forget the steps, you can always come here and check.

IDO Fundraise Process

Eligibility criteria

When considering eligibility criteria for IDO participation, there are two fixed and one optional requirement. The fixed requirements include: the user must have a verified account (completed KYC) and must attain the minimum staking tier necessary for IDO participation (note: minimum staking tier required might vary per IDO). The third eligibility requirement is Registering Interest for the specific IDO fundraising event. Not all IDOs will require mandatory registration, hence this requirement is optional.

Note: Users who are ineligible for participation due to not registering interest but meet the other two mandatory criteria (KYC and minimum staking tier) will still have the opportunity to participate in the FCFS round, even though they are not eligible for participation in the Guaranteed round.

Snapshot and individual allocations

Before each IDO fundraising event, a snapshot is taken to determine individual user allocations. This allocation is contingent upon factors such as the user’s Staking Tier, the number of other participants holding different tiers, and the total amount of funds being raised for the specific IDO.

Fundraise event

The fundraising event comprises two rounds to ensure fair participation:

Guaranteed Round — Eligible users have a 24-hour window to invest, with their maximum investment determined by individual allocations from a prior snapshot.

First-Come-First-Served Round — If there are unsold tokens after the Guaranteed Round, a one-hour FCFS Round begins. Users’ individual allocations are multiplied by a factor (usually between x3 and x5) in this round, but allocations are not guaranteed, necessitating quick action.

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