Architecture Overview
Hyperlaunch IDO is a funding platform where projects can launch their token which would live in a pool, and funders would buy it from the pool.
Hyperlaunch IDO operates on a bonding curve mechanism to establish token pricing and liquidity during the initial phase. The price dynamically adjusts based on the reserves of the pool, ensuring a higher price as more tokens are purchased.
Once a predefined market capitalization threshold is achieved, the token is automatically listed on Morphex Trading Hub.
It is implemented as a set of smart contracts.
Smart Contracts Overview
Hyperlaunch comprises the following smart contracts deployed on the Lumia chain:
HyperLaunchStaking — implements the platform utility token (HYPE) used to grant , staking/unstaking HYPE, staking tiers, staking pool implementation.
IDO — creates IDOs. Includes modules:
IDOBase — implements core functionality for an IDO, state storage.
IDOAdmin — management of an IDO.
IDOFunds — management of fund received from the participants.
IDOParticipation — IDO participation logic, incl. users registrations, participant validation.
Vesting — creates vesting schedule, implements IDO token release.
General Flow
The general flow of interacting with Hyperlaunch IDO can be explained like this:
User Registration & Wallet Integration: Users begin by signing up, verifying their email, and connecting their wallet.
Project Registration & IDO Listing: Projects apply for listing, undergo approval, and get set on Hyperlaunch IDO.
Token Mechanics & Additional Features:
Allocation parameters are configured for the IDO.
Staking mechanisms are configured (this part is planned for future releases).
IDO Participation:
Users purchase HYPE tokens from Hyperlaunch IDO and stake them. A tier (1, 2, or 3) is assigned based on the amount and duration of the stake; longer staking period grant larger project token allocations.
A whitelist registration process is initiated before the sale: users register their interest in an project, off-chain, within the registration window period; a randomized raffle selects the final whitelisted participants that will act as funders.
Once whitelisted, funders participate in the IDO sale, purchase tokens paying for the in the LUMIA token, and later claim them according to a vesting schedule. After all the 3 tiers purchased their tokens, a final public round (Last Round) opens for non-whitelisted users to buy from the remaining supply if any is left. Purchased tokens are not immediately available, instead, they follow a customazible vestging schedule.
1. User Registration & Wallet Integration
This part is self-explanatory and concerns user creating an account within Hyperlaunch IDO and establishing their identity on the platform. It may also be involved in Stage 4 (IDO Participation).
Users sign up and provide an email address to register.
The system captures the email and initiates the verification process.
A verification code is sent to the provided email.
The user enters the received code, and the system validates it.
The user connects their wallet to Hyperlaunch IDO.
Once connected, the system initiates a transaction signing request for critical actions.
The wallet address is linked to the user’s account for the participation and token allocations.
2. Project Registration & IDO Listing
The process of a project using Hyperlaunch IDO to get funded can be explained like this:
Project teams submit their IDO proposals for the Hyperlaunch admin team review and eventual launch.
The Hyperlaunch admin team ensures that each submitted project meets platform criteria and regulatory standards before proceeding. This may include additional KYC, due diligence, or technical assessments.
The Hyperlaunch admin team finalizes approved projects and captures all required parameters for launching the IDO. The key parameters include project description, token supply, IDO timeline, and vesting schedule. Confirmation of project approval triggers the next steps for IDO creation.
Hyperlaunch IDO provides an administrative interface for setting up and managing the IDO details such as public sale parameters, including start/end times, soft/hard caps, and allocation methods.
The project informs the user community about an upcoming IDO and prepares them for participation, i.e., announces an IDO, sets up a dynamic countdown displayed for participating users on the user dashboard. At this stage, email and in-app notifications are triggered for the community.
3. Token Mechanics & Additional Features
The project may want to further incentivize participation with a staking system where users can stake platform tokens to gain higher priority in whitelist selection and receive larger allocations.
The staking token is HYPE — native token of the Hyperlaunch platform.
The staking system offers 3 tiers based on the amount and duration of the stake: the more a user stakes for a longer period, the higher is the allocation of IDO project tokens this user gets.
Users stake an amount of platform tokens (HYPE).
The system assigns a tier based on the amount and duration of the stake.
Higher-tier users may receive prioritized whitelist access and larger token allocation bonuses.
Projects may also want to prepare for the post-sale phase where tokens are distributed according to predefined schedules.
The project specifies the claiming window and vesting schedule.
The system schedules token distribution batches and prepares vesting parameters.
4. Users Participating in IDO
As said just above, users who want to participate as funders in the IDO of a project, need to go register and get whitelisted. The whole process can be seen in the diagram below.
User Registration & Wallet Linking: The diagram shows the initial registration steps including email verification and wallet integration.
Whitelist Process: Users register their intent to participate as funders, and a separate tool (or process) handles the random selection for whitelisting. Whitelisted users are then notified via email.
IDO Sale Execution: On the sale day, the funders participate by purchasing tokens, with wallet transaction signing integrated in the process. The sale goes in rounds, allowing each of 3 tiers of the whitelisted users to purchase project tokens paying for the in the LUMIA token. At the end, there is also the Last Round, allowing non-whitelisted users to participate and purchase from the remaining supply if any left.
Token Claiming & Vesting: Finally, users claim tokens based on their vesting schedule. Purchased tokens are not immediately available. Instead, they follow a customizable vesting schedule. After vesting, users can claim and use their tokens.
The system is configured to only allow participation in the token sale only within their designated time frames. The sale employs either a "first-come, first-serve" or weighted allocation system.
Project Graduation
Once a soft cap is reached, the project token gets listed on Morphex Trading Hub, i.e., the project "graduates", and users can trade the tokens of a graduated project tokens on the Morphex Trading Hub.
Last updated