We recently held our first Initial DEX Offering (IDO) for the meme token $BOLT, and it was nothing short of a huge success!

The community was buzzing with excitement as the token went live, and the launchpad experienced an unprecedented amount of traffic. In just the first hour, $BOLT experienced a 20x all-time high (ATH) and has since stabilized at 10x. This impressive performance has left many people eager to know what to expect for future Snark IDOs.

The Snark community and new investors should be excited about what's to come from future IDOs. The team has promised to implement a more fair, tiered system that will give everyone a fair chance to participate in the sale.

However, the first IDO did encounter some unexpected issues. It oversold in the first 5 seconds, with hundreds of transactions happening in a matter of seconds. The smart contract had a hard code of 50 ETH as the hard cap, meaning that when it reached 50 ETH, it would not take any transactions after that, and it would just reject all incoming transactions.

After the 50 ETH hard cap, there were a lot of pending transactions, and the website registered it at 270% overfilled, causing some confusion among investors. But when the transactions stopped pending, it just rejected the rest past 50 ETH.

Despite the initial hiccups, the first IDO has been a success and the Snark Launchpad team is already working on improving the process for future sales.

The success of the first IDO on Snark Launchpad is a testament to the hard work put in by the team to create a seamless and efficient platform for token launches on zkSync. As we move forward, the team remains committed to improving the platform and bringing even more exciting projects to the Snark community. We encourage ourstakers to continue to take advantage of the tiered system and the benefits it offers. Stay tuned for more IDOs in the coming weeks as we implement new features and ensure that Snark remains the top launchpad on zkSync.