Pledgecamp’s IEO on OKEx’s token sale platform, OK Jumpstart – will launch on Thursday, August 22. In the process, it will only become the seventh token sale on the platform, following – Echoin, Eminer, WIREX, En-Tan-Mo, ALLIVE, and Blockcloud. OKEx is the largest exchange ranked by CoinMarketCap (by adjusted volume).
What is Pledgecamp?
Pledgecamp is a blockchain-based crowdfunding platform which is looking to disrupt the multi-billion dollar crowdfunding industry. Pledgecamp combines traditional crowdfunding with blockchain technology to create a system, dubbed Crowdfunding 2.0. Pledgecamp will leverage smart contracts to create an escrow system called “Backer Insurance.” This system will protect investors during the crowdfunding process. Their main goal is to build a platform between companies and communities while giving everyone in the world the opportunity to become an entrepreneur.
Details about the IEO
The IEO will be launched on August 22 and the first subscription session will open at 06:00 (CEST, UTC+2), and the second session will begin at 07:00 (CEST, UTC+2). The rules of the IEO are as follows.
First Session
- Individual Minimum Subscription Amount: 200,000 PLG
- Individual Cap: 400,000 PLG
- Session Supply: 400,000,000 PLG
- Over-subscription Limit: 800,000,000 PLG
Second Session
- Individual Minimum Subscription Amount: 200,000 PLG
- Individual Cap: 1,600,000 PLG
- Session Supply: 400,000,000 PLG
- Over-subscription Limit: N/A
What to keep in mind before the IEO
- Log in and prepare your OKB tokens before the sale to secure your subscription.
- Ensure the subscription process is fair and secure. A verification code is required for subscription. Keep in mind to not use the verification endpoint before the subscription begins. Such action is regarded as rules violation and the account will be banned from the subscription.
- It is highly recommended that you transfer your OKB to your OKEx Funding Account in advance for the subscription.
- The subscription is available on both OKEx.com and the OKEx Mobile App.
- Users with an allotment coefficient of 0 are not eligible for the subscription.
Distribution & Lock-up Period of PLG tokens
- Platform Development: 45%
- Funding: 20% (Seed funding round to be all unlocked 9 months after listing; private sale round to be linearly unlocked 3 months after listing over a 6-month period)
- Strategic partnership development: 15%
- Team, advisors, and future employees: 10% (To be linearly unlocked after 3 months after listing over a 12-month period)
- Platform incentives: 5%
- Rewards for early project creators: 5%
Pledgecamp’s main goal right now is adoption. The way to do that is to reach out to as many people as possible and get more potential investors. The OKEx IEO will provide the credibility and liquidity necessary to attract more investors and startups into the ecosystem.
