PolyZap Initial Farm Offering With Bsit

Published on: 12.07.2021

PolyZap will host its very first Initial Farm Offering with Bsit from 14 to 17 July 2021.

To that end Bsit is currently developing additional services for parents such as school support, extracurricular activities, housekeeping, pet care, transportation… In parallel Bsit plans to continue acquiring local communities worldwide in order to develop new markets outside Europe.

There is a lot more to say about Bsit and the BSIT token, that you’ll be able to purchase during our very first IFO! However, before we do that — let’s take a more detailed look at what an Initial Farm Offering (IFO) is in a bit more detail. So then you can understand exactly what it is, how it works, and why you should start getting excited for the opportunity to take part in the Bsit IFO on the PolyZap platform soon!

An Initial Farm Offering (IFO) is a type of token sale event, often used for presale or project promotion. Popularized by Decentralized Exchange (DEX) platforms like PancakeSwap, who utilize this unique type of event to promote upcoming projects. IFO’s serve as a way to raise funds for new DeFi or Cryptocurrency projects, offering users of the host DEX platform an opportunity to buy tokens at presale or often discounted prices.

Typically IFO events run for a fixed time period of a few days, where the project token on sale will have a limited total amount available for purchase. There is usually a Soft Cap set — which is the minimum amount of funds that needs to be raised for the IFO to complete. Plus a Hard Cap — which is the upper limit / maximum amount of funds that can be raised from the IFO event.

During the event — investors stake LP or Tokens, which are then used by the DEX platform to purchase a portion of the presale token offering for the staking wallet. After the IFO event completes — the DEX platform makes the purchased tokens available to users, who can then transact them back to their staking wallet, along with any refund for unspent funds.

As investors — taking part in an IFO is often a great opportunity to pick up new / upcoming project tokens at presale prices. However you should always DYOR into any IFO project offering, to make sure that it passes your own investment criteria for safety.

How to Take Part in the Bsit IFO?

The Bsit presale event will be hosted by PolyZap on our IFO platform — to take part you should go to the website IFO section from 14 to 17 July 2021.

Before Sale:

Make sure that your wallet has more than 100 PZAP (minimum to qualify for IFO participation).
Buy MATIC.
Go to the PolyZap website, presale section in the IFO at: https://farm.polyzap.finance/ifo
Wait for the IFO to start.

Helpful Links for Buying:

During Sale:

While the IFO is live, press the Contribute button and input the amount of MATIC.
Confirm the transaction in your wallet.

Contribution Limits:

Min Contribution: 10 MATIC
Max Contribution: 25,000 MATIC

BSIT Token distribution:

You can claim your BSIT Tokens once the IFO ends.
If the Softcap is not met for the IFO, you can also claim your MATIC back (refund).

BSIT Farms on PolyZap

After the IFO we’ll also be adding two new BSIT farms to the PolyZap Yield Farm.

BSIT-MATIC
BSIT-USDC

So don’t miss this great investment opportunity to join the Bsit project IFO, and the insane APRs on the new farm pools launching soon after!

What is Bsit?

Founded in 2015, Bsit is a fast growing childcare mobile app, backed by Connect Ventures and Kima Ventures (6M€ raised in total), now serving more than 50,000 MAU and 550,000 registered users.