iBetYou launching its IDO on TrustPad
TrustPad is excited to launch iBetYou, a powerful all-in-one betting platform, powered by Matic and Aave, that allows people to bet any amount with anyone on anything.
iBetYou, IBY, is a simple and fun game that allows people to stake their tokens against someone else’s opinion and receive a financial reward and a definite proof of who was right in the form of a beautiful NFT token.
iBetYou uses the basic principles of betting, enhanced by utilizing blockchain technology. When a bet is placed both the challenger and their opponent send the stake amount to a smart contract which holds the crypto in escrow. The stake is then tokenized and held in interest yielding protocols on the AAVE platform. The crypto generated from interest is shared proportionally between the judges and the IBetYou Community at the conclusion of the bet.
IBY has a strong vision of building a customer-facing DeFi product that will attract thousands of users with simplicity, superior UX and well-engineered mechanics rewarding all the people in the value chain. Ultimately, it is a much smarter way to place and track your bets, keeping everything in one place, creating irreversible bets and winning money in your favourite cryptocurrency.
We are looking forward to working closely with the IBY team and launching the platform on June 13th.
Public raise on TrustPad: June 13
Yesterday (June 12), iBetYou announced that their final public raise will be held on SushiSwap’s MISO launchpad, which is fantastic for them as a project to be selected as one of the first to benefit from the platform (you can read more here: https://ibetyouxyz.medium.com/ibetyou-is-one-of-the-first-teams-to-launch-on-sushiswap-miso-platform-3812a501f2bb).
To enable this and still honour the amount pledged to the TrustPad community, the iBetYou team came to us and offered us allocation in the strategic round, which are passing on in full to participants in the iBetYou IDO. Details are below.
Raise Details & Vesting Schedules
Participants in the TrustPad raise will now receive allocations balanced across the following rounds:
Strategic round: $55,250 @ $0.035 =1,578,571.43 $IBY tokens
(6 month vesting period: 1 month lock and 20% every month)
Public round: $88,750 @ $0.070 = 1,267,857.15 $IBY tokens
(1 month vesting period: 50% at TGE and 25% every 2 weeks )
Blended Total: $144,000 @ $0.0506 = 2,846,428.58 $IBY tokens
(public round only: $144,000 @ $0.070 = 2,057,141.86 $IBY tokens)
Although this results in a longer vesting period for the majority of tokens distributed to the TrustPad participants, this represents a significant discount on the public sale price and provides TrustPad participants in the iBetYou raise a 38% increase in number of tokens per allocation.
The raise will be completed via one pool.
IBetYou uses the basic principles of betting and kicks it up a notch with crypto wizardry, powered by MATIC and AAVE. When a bet is placed both the challenger and their opponent send the stake amount to a smart contract which holds the crypto in escrow. The stake is then tokenized and held in interest yielding protocols on the AAVE platform. The crypto generated from interest is shared proportionally between the judges and the IBetYou Community at the conclusion of the bet.
TrustPad has been founded to aid the growth of the blockchain ecosystem in a safe and sustainable way. TrustPad is proudly partnered with GD10 Ventures, BlockSync Ventures, X21 Digital, AU21 capital, exNetwork Capital, Wealth Union, Twin Apex Capital and 4SV.
TrustPad is different to other launchpads. A ‘quality not quantity’ approach ensures that projects launched through TrustPad have real long term value. This will provide the TrustPad community with sustainable development, attracting a larger community for both $TPAD and the projects launched on the platform.