What is Red Kit? Instructions to join IDO on the Red Kite platform

• What is Red Kit?
• What is PolkaFoundry?
• Salient features of Red Kite
• Conditions can participate in IDO on Red Kite
• Instructions to join IDO on Red Kite
• Connect with Red Kite
• Join staking
• KYC account
• Join the whitelist
• Check distribution results
• Instructions to join Community Pool on Red Kite
• summary

What is Red Kit?

Red Kite is a secure launchpad platform for investors developed by PolkaFoundry . A place that allows investors to get early access to potential crypto projects through IDO opening events.

One of the notable reasons why new projects fail in their development is poor marketing, promotion, and communication. This makes the project inaccessible and receives the attention and investment from investors. Through its platform, Red Kite will solve this problem by offering many new ways to promote, communicate and raise capital for partner projects.

Red Kite is backed by a network of tier 1 marketing partners, influencers, and a large following to help the project grow. Cryptocurrency projects will go through a thorough censorship and selection process to protect investors' interests before being posted on Red Kite.

What is PolkaFoundry?

PolkaFoundry is a layer 1 project that provides a foundation for building decentralized applications that are interoperable with the DeFi and Web 3.0 ecosystems with the technology of the Polkadot blockchain .

The platform currently includes a public blockchain, identity service (PolkaID), document storage service (DocuGuard) and Oracle service (decentralized gate).

Salient features of Red Kite

Multi-chain support

Red Kite currently supports projects on 2 platforms, Ethereum and BNB Chain. In the future, the project will soon support new projects on Polkadot after PolkaFoundry completes tests and tests. PolkaFoundry is expected to become the first launchpad platform on Polkadot.

Parachain Crowdloan

In addition to being the first launchpad platform on Polkadot, Red Kite also supports crowdfunding campaigns for parachain auctions on both Polkadot and Kusama. PolkaFoundry will be the first project to run a parachain auction on Red Kite.

Projects are carefully selected and tested

To protect the interests of investors, every project that wants to be listed on Red Kite must go through a process of inspection, review and evaluation by leading experts.

Tier and reputation

Red Kite's bot system is programmed to monitor every user's behavior on the platform, thereby evaluating and scoring them tier and reputation. This score will affect the participant's level and ability to participate in future IDO launches.

Fair (lane-based swap system)

With the lane-based swap system, every investor will have the opportunity to participate in IDO based on their level and score without 'gas war'.

Conditions can participate in IDO on Red Kite

To join Pool IDO on Red Kite users must KYC as well as own Red Kite Points. Users can earn Red Kite Points with stakes of PKF or LP-PKF tokens. The amount of Red Kite Point received from the above activities will be calculated as follows:

•  Each PKF staked by users on Red Kite will receive 1 Red Kite Point.
• Users add PKF-ETH pair to Uniswap liquidity pool to receive LP-PKF tokens. Each LP-PKF token staked on Red Kite will earn 400 Red Kite Points.

The user's hierarchy will be based on the number of Red Kite Points they have. You can track the specific information of each tier in the table below.

In addition, Red Kite also organizes Community Pool for all investors without KYC or owning Red Kite Point. Users will have to complete social tasks on Gleam to be eligible to join this pool.

Instructions to join IDO on Red Kite

Connect with Red Kite

Step 1 : You access the Red Kite homepage at https://redkite.polkafoundry.com/ .

Step 2 : You select “Connect Wallet” to connect your crypto wallet with Red Kite.

Step 3 : Select the blockchain network and wallet you are using.

Step 4 : Confirm login to Red Kite by pressing the “Sign” button on the wallet.

Join staking

Step 1 : You select the item “Staking” on the menu bar to access the staking interface of Red Kite.

Step 2 : Select the pool you want to join.

The details of a pool include:

• Total pool amount : The maximum number of tokens that can be staked in the pool.
• Start join time : Time to start joining this pool.
• End join time : End time to join this pool.
• Stake amount (Min) : Minimum amount of tokens to join the pool.

Step 3 . You click on the “Enable” button to join the pool. After activating pool participation by confirming transactions on your wallet, you can start putting your tokens into the pool for staking.

Step 4 : Click the “Stake” button and enter the amount of tokens you want to stake.

Step 5 : You click “Stake” and confirm the transaction on your wallet to complete.

After successful staking, you can check your achieved rank by clicking on “My Account” and selecting “My Tier”.

KYC account

Step 1 : Click on “My Account” on the menu bar and select “My Profile”.

Step 2 : Click the “KYC NOW” button. You will then be navigated to Icetea Labs KYC on Blockpass.

Step 3 : Complete the KYC process on Blockpass and wait for your KYC profile to be approved.

Step 4 : Once your KYC profile is approved, your KYC status will be changed to “Verified”.

Join the whitelist

You can register to join the project's whitelist while the registration period is still open. Follow these steps to submit your whitelist application.

Step 1 : Select the pool you want to join.

Note : The “Apply whitelist” button will be disabled if the subscription period is not open. You can check the registration opening time in the “UPCOMING” section on the left side of the screen.

Step 2 : You click the "Apply whitelist" button to register to participate in the whitelist.

A window will pop up with the conditions you need to fulfill to be able to participate in the whitelist.

Step 3 : Complete all the requirements and press the “Submit” button to complete.

Note : To register for the whitelist of projects on the Solana and Terra networks, you need to first add the Solana (or Terra) sub-wallet to your account. Click “Connect Wallet” to connect your Solana (or Terra) wallet address.

Step 4 : Click the “Sign” button on the wallet to confirm the action.

After successfully submitting your application, you can check that the successful registration status is “APPLIED WHITELIST” and the allocation result date will be announced on the left side of the screen.

Check distribution results

You can check the token allocation results of the pool that you have joined in the following 2 ways:

Method 1: Check allocation in pool details

Step 1 : Access the “Pool” section on the menu bar then search and open the pool you have joined.

Step 2 : Go to the “Winner” tab or the “Whitelist” section on the left side of the screen to check your allocation.

Win the whitelist

Did not win the whitelist

Method 2: Check allocation in “My Pool”

Step 1 : Select “My Account” and then click “My Pools”

Step 2 : Check your status and allocation in the “Status” and “Allocation” columns.

Instructions to join Community Pool on Red Kite

Step 1 : Select the pool you want to join in the Community Pool section.

Step 2 : Click the “Join Competition” button to enter the contest. Note : Similar to whitelist registration, the “Join Competition” button will only turn on when the registration period is open.

Step 3 : Complete tasks on Gleam to qualify for Community Pool. A total of 500 winners will be selected from all participants in the Gleam competition.

Step 4 : Check the allocation results. You can follow 2 ways to check your allocation like the IDO participation guide above to check your token allocation. 

summary

Based on the information provided by the above article, TraderH4 hopes that it will help readers get more information about Red Kite as well as how to participate in buying IDO at this platform. Good luck with your trading!