Websea Launchpad Introduction

Dear Users,

Websea has launched the Launchpad. The Websea Launchpad is a Section for new projects on Websea, dedicated to offering Websea users the priority right to subscribe to quality projects, in support of the ecosystem of the cryptographic digital asset industry.

How Websea Launchpad Works

Websea Launchpad operates by partnering with high-quality brand projects. Tokens of these outstanding projects will be listed on Websea Launchpad, allowing interested Websea users to subscribe to these tokens in advance.

Websea Launchpad allows holders of WBS (or other tokens like USDT, but here we’ll use WBS for explanation) to use a certain amount of WBS to purchase premium tokens. The final allocation of new coins depends on the ratio of the amount of WBS a user contributes to the total amount of WBS contributed by all participating users.

Steps to Participate in Launchpad

Step 1: Position Statistics Stage

The system takes a snapshot of the user's WBS balance every hour, including WBS in financial management, delegated freezing, etc. The amount you can invest depends on your daily average WBS holdings during a specified period. During this time, you do not need to stake WBS or take any other action.

Step 2: Contribution Stage

Determine the maximum individual contribution limit for the Launchpad. Snapshots of the user's WBS balance are taken at every hour, with the average holding being the total of each hourly snapshot's balance divided by the total number of snapshots. 

WBS balance includes: spot available + spot order frozen + financial management frozen + futures available + futures order frozen. 

The total number of snapshots is determined by the start time of the holding stage and the start time of the contribution stage, with the last snapshot taken one hour before the start of the contribution period.

Based on the average holdings, the maximum contribution amount for each user is determined. The maximum amount you can invest is your contribution limit, and you may choose to invest a smaller amount. Once you confirm participation in the investment, your WBS will be locked. Please wait for the allocation of new coins on Launchpad.

Step 3: Statistics Stage

After the WBS contribution channel is closed, contributions will be stopped. The Websea system will calculate the allocation of new Launchpad tokens for each user based on their contribution ratio. The allocated share cannot exceed the individual hard cap. Any excess amount from a user will be proportionally distributed to other users.

Step 4: Distribution Stage

Based on the number and price of tokens allocated to each user, the quantity of tokens each user should receive is determined. Websea will deduct the corresponding WBS. The remaining WBS will be returned to the user’s spot account, and the corresponding new Launchpad tokens will be credited to the user’s spot account.

When to Contribute WBS?

Users can contribute WBS after the daily average WBS holdings calculation is completed and the contribution channel is open. For specific times, please refer to the Launchpad project page or announcements.

Calculating Each User’s Token Allocation Share

Individual Share = (Individual Total WBS Contribution / Total WBS Contribution by All Users) * Total Token Distribution Amount for This Launchpad Session

Individual Hard Cap Limit

The individual hard cap refers to the maximum amount of new tokens each user can receive from participating in a Launchpad project, not the maximum amount of WBS they can contribute. 

Considering that some users will exceed their individual hard caps, when calculating individual shares, priority is given to determining the share of the user with the highest contribution amount first, followed by the rest in descending order of contribution amounts, down to the user with the lowest contribution. Even the user with the least contribution must not exceed their individual hard cap.

Example for Illustration:

Suppose in a new Launchpad event:

- Total Distribution Amount: 1000 BTC

- Individual Hard Cap: 10 BTC

- Price: 1 BTC = 0.1 WBS

- Total Contribution: 1000 WBS

If user A contributes the most, say 20 WBS, theoretically, their allocated share would be: 20/1000*1000 = 20 BTC. However, this exceeds the individual hard cap, so A’s final allocated amount will be 10 BTC. After distribution, A receives 10 BTC, 1 WBS is deducted, and 19 WBS is returned.

At this point, the total amount left in the project is 1000 - 10 = 990 BTC. 

If user B is the second highest contributor, contributing 5 WBS, theoretically, their allocated share would be: 5/1000*1000 = 5 BTC. 

However, since the amount exceeding A’s hard cap (10 BTC) is distributed among other users, the actual allocation for B would be: 5 / (total 1000 - A’s contribution of 20) * (total 1000 - A’s allocated 10) = 5 / 980 * 990 = 5.051 BTC. 

As this does not exceed the individual hard cap, B’s final allocation is 5.051 BTC, with 0.5051 WBS deducted, and 4.4949 WBS returned.

Final interpretation rights reserved by Websea.

Websea Team

December 28, 2023