Phemex introduces Launchpad, a service where our users can purchase select cryptos at a set price before their launch on the Spot Market. To learn more about Launchpad, please read the Launchpad FAQ.
Here is a step-by-step guide on how to use Launchpad.
1. Register or sign in to your Phemex account.
2. Hover over the “Spot” tab on the Homepage and click on the third button, “Launchpad.”
3. You will be taken to the Crypto Launchpad homepage. There will be several tokens listed under Launchpad Tokens for you to view. To learn more about each token, click on “Coin Details.”
- You will now view the details about your selected token. Click on the four buttons to learn more about the selected token, such as its website, rules, tutorials, and frequently asked questions (FAQ).
- Scroll down to view the Timeline for the selected token. There are four periods; the first is the Calculation Period. During this period, your USDT in your Spot Wallet and Investment account will be calculated on a daily basis up until the final daily average is formed. Your everyday average will be calculated and updated daily at 5:00 UTC. In order to increase your daily average, you need to deposit more USDT. You can also learn more about how to make a deposit on Phemex. Note: This service is only for users who have been KYC verified. If you haven’t yet verified your identity, you’ll be directed to “Go to KYC” and verify your identity.
- The second section is the Subscription Period. You can only subscribe using USDT from your spot wallet. Therefore, if your spot wallet currently contains less USDT than the minimum amount required for the commitment of the subscription, you must transfer more USDT from other accounts into your spot wallet.
- In the Subscription Period section, enter the amount of USDT you want to commit. Once you have entered the amount, click “Commit.” After the first investment, the Reclaim button will be clickable. This is because you have one chance to reclaim your USDT for any personal reasons. The USDT will be returned to you once you click it.
- During the allocation period, our system will calculate your total token allocation. Please be patient as the processing times may vary.
9. Lastly is the Distribution period. This happens after the allocation calculations are complete. Phemex will deduct the corresponding USDT from your account based on the final allocation, which will be transferred to your spot wallet with any remaining USDT, if applicable.