Are you ready?
Finally we have completed the first phase of internal testing on the new IDO smart contract for CryptoCurrent and we are happy with the results.
The IDO smart contract will make life much easier and much more organized for the CryptoCurrent’s launchpad. It has been designed to be very robust and can give you live information about your current tier status and the status numbers of the IDO in progress as well a log of the history of IDOs. Should something go wrong with the IDO, it can be immediately terminated and everyone would be able to get a refund on any deposits made on the IDO.
We have already tested the IDO smart contract on Binance testnet with the core team members. Team members had acted as if they are participating in an IDO being launched by CryptoCurrent and have engaged with it via the WEB3 piping coming in from the front end.
The great news is that this testing has been completed with the core team members, and now we will ask for some volunteers from the community to complete the final round of testing before we can finalize the steps for the audit for Solidity.
Before any testing can begin, you will first need to configure your metamask to work with binance testnet. Instructions on how to connect your metamask to binance testnet can be found here:
Make sure to use the testnet parameters for your configuration and then switch to Smart Chain — Testnet on metamask.
Next, head over to the faucet for binance testnet. The faucet provides free BNB for testnet. Don’t get too excited, the faucet doesn’t provide real BNB, it just provides fake BNB, or as I like to call it, Bootleg BNB. With this Bootleg BNB we can test out the functionality of smart contracts without wasting valuable BNB on trial and errors.
The binance faucet for testnet can be found here, make sure to pick the max- 6 BNB and put in your correct address.
Once you receive BNB in your testnet account, you are ready to engage with the IDO smart contract and purchase some juicy testnet IDO tokens
The IDO Token contract can be found below, it has a supply of 1,000,000 and the name of the token is, yup you guessed it “IDO” token.
You can add this address into your metamask so when your IDO tokens come in, you will be able to see it.
For the purposes of testing, the price of the IDO token will be set at $1.00 and this rate will be set once the IDO is launched by setting the exchange rate between BNB and the IDO token. So when testing begins the IDO manager needs to set this rate by looking up the price of BNB. If the price of BNB is $500 USD, the the rate the admin needs to set is 500 in the parameter field for rate.
The IDO contract has been set up with five tiers. Depending on what tier you are in, it would dictate your maximum allocation. What tier you are depends on how much VLT you own and how much of it you deposit in the VLT Tier Staking Contract or the LP Tier Staking Contract.
Tiers are numbered 1 through 5, 1 being the highest tier which is reserved for participants supplying 200VLT and the equivalent amount in BNB in the VLT/BNB liquidity pool. Every week, a snapshot will be taken regstering the amount of VLT/BNP LP tokens are required to have a minimum of 200 VLT in the LP pool. Currently, that amount is 46 LP tokens. This amount can change weekly depending on how many LPs are required to acheive 200VLT as a VLT/BNB liquidity provider.
Tiers 2–4 require users to hold VLT in their wallet.
1. Tier 1 = 200+ ( VLT/BNB LP )@ base alloc + 6.6% *
2. Tier 2 = 150+ VLT in WALLET @ base alloc + 4.4% *
3. Tier 3 = 100+ VLT in WALLET @ base alloc + 3.3% *
4. Tier 4 = 50+ VLT in WALLET@ base alloc + 2.2% *
5. Tier 5 = <50 VLT in WALLET @ base alloc ( PUBLIC SALE )
The IDO Manager Contract is located at 0xeD41Fb698786210b3Ee050CEf0271421e2226f46
The testnet VLT contract is located at
The IDO Token contract is located at
The Deployed IDO Contract is located at
The testnet LP Token is located at
Testnet Pancake Factory