Content of article:
- Overview of the BNPL Pay Ecosystem
- Details of the Token Sale Launch
- How the Thorstarter Token Sale Works
- How to Participate in the BNPL Pay Token Sale
Over the years, there have been multiple DeFi protocols leading the collateralized lending marketplace. A greater percentage of these pioneer DeFi lending protocols were more focused on creditworthy lenders. They catered for people with capital and paid little or no attention to those without. Although there have been a few attempts to target the credit space, the protocols have relied too much on the reputation of the people borrowing.
The team behind BNPL Pay believes that there is a huge opportunity in the credit space and that most of the already protocols missed out on it. With its incentive model, BNPL Pay is aiming to create a simple approach to accommodate the largest number of potential borrowers. The platform is set to launch its token sale on Thorstarter next month.
Overview of the BNPL Pay Ecosystem
The BNPL Pay is a DeFi lending protocol that helps those who don’t have the capital to access it seamlessly. By leveraging its specially designed decentralized network of banking nodes, the protocol can help anyone apply for a loan or even become a “bank.” It means that the BNPL Pay protocol allows anyone to create a banking node. These nodes can compete for capital from lenders within the protocol as well as the loan fulfillment of borrowers.
With such a system, there will be a maximum utility for both lenders and borrowers.
Details of the Token Sale Launch
The BNPL Pay token sale launch will be hosted on the Thorstarter Launchpad on September 14, 2021. A total of 5,000,000 BNPL tokens will be distributed at a price of $0.04. This is exactly the same price as the tokens sold that will be sold in the private sale rounds. There won’t be any vesting on these tokens, although the tokens will only be claimable after the conclusion of the Balancer LBP. The Balance LBP will run after the end of the Thorstarter token sale.
How the Thorstarter Token Sale Works
XRUNE tokens will be used for purchasing the BNPL Pay tokens through the IDO launchpad. The tokens will be distributed via an overflow approach where subscriptions will be given at a proportional rate, and it is dependent on the number of committed XRUNE tokens. In the end, all unused tokens will be regained. During the sale, you can commit as many XRUNE tokens as you wish, but the final allocation given will be dependent on your percentage of the total XRUNE tokens committed. Also, users will be allowed a 24-hour window to commit to the sale. However, there will not be a special advantage given based on the time of commitment.
How to Participate in the BNPL Pay Token Sale
Here are the steps to follow in order to be part of the token sale on Thorstarter:
- You will need XRUNE tokens, and they can be purchased via Sushiswap or Thorswap.
- To be eligible to participate in this IDO, Thostarter requires you to lock at least 100 XRUNE tokens in the form of vXRUNE. You can do this via the Thorstarter site’s governance tab.
- You can then use the XRUNE to partake in the BNPL Pay IDO sale.
- For the IDO, visit the Thorstarter site and then navigate to the IDO page.
- Once that is done, you have to connect a compatible wallet like METAMASK to the Thorstarter website.
- Go ahead to select the BNPL pay IDO page and decide on your investment size.
- Commit XRUNE tokens and proceed to approve the transaction on Metamask.
- After the sale has ended, you can reclaim your unused XRUNE, and your BNPL Pay tokens will be available to be claimed after the end of the Balancer LBP.
You can see more details about the BNPL Pay launch on Thorstarter by joining the protocol’s social media channels like Reddit, Telegram Chat, and Twitter.
