Guideline: Lottery Winner-Selection Mechanism to increase chances of winning IDO allocation
Since the winning rate for the whitelist of each IDO on Red Kite Launchpad is quite competitive, we are using a lottery whitelist-winner selection procedure with 2 separate rounds to ensure fairness among our community and tribute to the most loyal/ valued members as well.
Selection in Round 1
Within Round 1, winners are selected based on Red Kite points/ or User Tier. Red Kite will reserve a significant share of IDO allocation for winners in this round, and winners can purchase tokens with a guaranteed allocation in Phase 1 of the IDO pool.
The unlucky users of Round 1 will be considered to join the next round. Still, only users not winning the whitelist in consecutive IDO pools and owning more Red Kite points will be eligible for the 2nd round.
Selection in Round 2
Come to Round 2, our system will pick winners among those candidates based on a random mechanism. Depending on the specified tickets and their value, a corresponding number of users will be selected as the winners.
Example:
2000 users apply for a whitelist of an IDO pool, and 500 people win its whitelist in the 1st round with guaranteed allocation. Among 1500 users not winning the whitelist, a limited number of people are eligible for Round 2 because they have been unlucky in consecutive pools and/or holding many Red Kite points.
The total allocation for the IDO pool is $180,000 and Round 2’s allocation will be 25%*180,000 = $4,500. If a ticket for one Round 2 winner is worth $45, there will be 100 users among chosen candidates winning a slot for the IDO pool from this round.
In general, people who did not win allocation in multiple pools in a row before will get a 2nd chance to win in Round 2.
👉 How to check the results of Round 2: The winner list of Round 2 will be announced 15–30 minutes later than that of the 1st round. Users winning in each round can check the results in the separate tabs below:
