The Gonear IDO selection Process Explained

3 min readFeb 1, 2022

Want to apply with your own project? Please submit your application here.

How we work at Gonear

Our mission is to attract the highest quality projects and founders in blockchain and match them with token buyers that believe in and support projects for the long run.

At Gonear, we pride ourselves in supporting world-class teams through Initial DEX Offerings (IDO). We select projects that not only benefit the participants, but also advance and strengthen the industry as a whole.

Our selection criteria is rigorous and thorough, and will constantly be refined as the ecosystem evolves. In the spirit of transparency and decentralization, it’s important for us to share the selection process, criteria, and analysis framework that all applying projects will go through. With this framework, our analysts and Council members can continue to select the highest potential and most innovative teams.

Application oversight

The IDO application process is overseen by the Gonear team and the Gonear Council. Our team is made up of analysts who guide the overall application process to ensure we launch with the best projects in the space. The Gonear Council is an independent group of industry leaders who provide an additional layer of security, legitimacy, and decentralization to the selection process.

Our initial selection process

The two guiding principles of our selection process are fairness and excellence. We’ve built a four step process to ensure all projects are analyzed equally and to keep the bar for quality and innovation high within the NEAR ecosystem.

1. Initial Application

All projects submit their application here, which captures basic information such as team backgrounds, project tokenomics, details of previous fundraising rounds, and core content like website and whitepaper.

Every project is required to go through the same submission process regardless of their stage, their relationships, or their existing popularity in the crypto ecosystem.

2. Preliminary Due Diligence

After projects submit their application, our analysts conduct preliminary due diligence. All analysis at this stage is done from what the projects have submitted through the website. There is no opportunity for projects to submit information through alternative avenues during this due diligence process.

3. Direct Assessment & Council Vote

If a project passes preliminary due diligence, our analysts meet with the team directly to dig deeper into the product and the roadmap, get to know the team and their backgrounds, and discuss some of the inner workings of the project. In these calls, we always ask projects to have both a visionary and a technical representative.

If a project passes assessment by the Gonear team, it is handed over for review by the Gonear Council. Each council member can vote once, and must do so within a limited period of time. If 55% of the Council votes “yes” on the project, it is passed through to final approval.

4. Approval and Onboarding

If a project has made it this far, they are officially onboarded into the Gonear launch program.

From here, we set the date for the IDO and explore how our team can help them beyond the fundraise. This can include security, development, marketing, messaging and communication, and support with UI and UX.

About Gonear

With Gonear, decentralized projects can raise awareness, build a loyal community, and receive long-term support. Users of the platform will be able to participate in a secure and compliant environment, and use assets both in and beyond the Near Protocol standard.