Learn08 November 2021

Why do you need whitelists?


Let’s figure out what a whitelist is, why you need it and how to get into it.

At the beginning of each digest from the DegenStuff rubric, we publish a list of whitelists. The section is called “✉️Whitelists to follow!”. You definitely won’t miss it.

Whitelist is a list of people who can get certain benefits from the project.

What benefits can investors receive: getting into the list of private investors, early access to the project, and so on.

Example. The ShitCoin project launches a whitelist. 100 participants enter it. They write their wallets, telegram nicknames and the amount they want to invest in the project. The guys from ShitCoin explore them carefully and give the most promising investors places.

It means that a whitelist is needed in order for the project to select the most cool investors and give them, for example, an entrance to a private round. In private rounds the price is lower than on the listing. That is, a coin can be listed on Uniswap at a price of $14, and it will be given to private investors at a price of $4. Numbers are invented from whole cloth.

In addition to careful selection, whitelists are in the form of a lottery, that is, the system will select participants randomly. Accidentally. For example, Solanium does this. Here we posted a guide on how to enter their whitelist. (there is no 5th step now)

It is important for an investor to get into the whitelist, because this will give the opportunity to buy tokens first or at a lower price.

Now the most important thing! How to get into the whitelist?

All projects have different whitelists. Somewhere you need to subscribe to social networks, somewhere you just leave your data, somewhere even go through KYC. KYC is a verification, in short.

As a rule, projects write conditions at the beginning of the whitelist. Fulfilling all the conditions is an important step, otherwise, without it, all other steps can not be done.

Many people try to outplay the system and enter the whitelist from multiaccs. That is, they create a bunch of different accounts and go to the whitelist so that at least one of the accounts appears in the list. Recently, Coinlist began to clean up multiaccs, so it is everyone’s business to make such somersaults or not, but in the crypto world, multiaccounts are often condemned, because it is not entirely fair.

Let’s summarize!

1. Each whitelist has its own conditions for joining, they are mandatory for passing;

2. Each whitelist has its own benefits for the investor;

3. Investors in the whitelist can be selected randomly or by the project team;

4. Not everyone is included in the whitelist, but those who could, can raise good profits from the project;

5. Multiaccounts began to be punished.

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