IDO — Initial DEX (Decentralized Exchange) Offering refers to a pre-sale event that happens prior to public listing. IDO allows a project to fundraise a certain amount of funds by enabling active participation from the side of retail-investors.
HAPI — cyber security protocol that aims to uproot the norms of maliciousness being spread across the crypto market in its current state. HAPI also jointly with Solana developed Boca Chica for the purpose of expanding and promoting the Solana ecosystem.
Bancambios — Multi-Chain DeFi that helps the Environment in every transaction.
SolPower — is a calculation of staking reward from Solana Staking that gives access to Boca Chica. It’s non-transferable and non-exchangeable and simply displays your current compounding rewards from Solana Staking.
Epoch — on Solana means the time between each reward distribution from staking. For SolPower to appear at least one epoch ought to pass.
$BX-S — native token of Bancambios project
Oversubscription — proportional distribution after a hard cap is exceeded.
Solana Staking Reward system — https://docs.solana.com/staking
Bancambios — Intro
Details and Terms
The focal point and the immovable crucial concept of Boca Chica is to facilitate simplicity of access. For that reason we made sure that the only prerequisite needed is connecting a wallet to the platform. No staking, no token holding, the idea of Boca Chica is to promote promptness and brevity of actions required.
In order to succinctly explain the general notion of the structure and details of the first IDO, we will need to first harken back to the idea of SolPower. SolPower is NOT a token nor is it a traditional value asset that can be bought or exchanged. Instead, SolPower constitutes the access-giving tool that permits entry to Boca Chica.
SolPower is accounted to the Solana wallet ONLY via the Solana Staking Reward system. By staking Solana on one of the APPROVED validators, stakers also gain SolPower with the ratio 1:1 with their Solana.
Steps Needed to Connect SolPower to Boca Chica
1- Go to bocachica.io
2. Connect your Phantom wallet to Boca Chica
3. Now that your wallet is connected, click “Join”. After you clicked Join, you need to approve it in the wallet window
4. With the wallet approved you should be able to see this window.
How to Participate and Buy on Pre-sale
After the access has been granted, a user can buy a share of tokens the ratio of which depends on a project’s incubated demand. Each entrant can only buy a 100$ worth of tokens regardless of the SolPower (minimum is one Epoch stake time for sufficient SolPower to accrue) in the wallet. This will allow more people to participate and be a witness of the seamless nature of Boca Chica. Our goal is to enable everyone engaged with Solana to partake in expanding and fostering the Solana Ecosystem.
How to Get USDT on Solana:
- Go to orca.so
- Swap Solana to USDT
How to Get HAPI on Solana:
- Go to orca.so
- Swap USDC to wHAPI
How to Stake Solana in Phantom Wallet
One of the ways to get access to the Boca Chica platform is to stake Solana with approved Validators. Staking is a simple, easy and quick process that requires 3 clicks inside Phantom wallet. You can also stake it manually but staking with Phantom is more preferable.
List of approved Validators can be found here: https://validators.bocachica.io/whitelist
IDO will include TWO round system:
IDO with SolPower (90% of the total fundraising pool). To be eligible for Platform Access, a user must hold SolPower in their wallet. After the wallet has been approved with Boca Chica, $BXS tokens can be purchased with Solana USDT. Therefore it’s imperative that users have some USDT preliminary stored in their wallets.
HAPI Round (10% of the total fundraising pool). This round is exclusively conducted with and for HAPI holders. For this round each participant will need to send HAPI (Solana Blockhain HAPI) to a given contract address. HAPI round will also include oversubscription and proportional distribution. Oversubscription aims at eliminating FCFS (First Come First Serve) method and instead distributes tokens proportionally amongst participants.