What is Whitelist

Beginner

2m March 17, 2023

A whitelist refers to a list of participants who are approved to participate in a particular event, and it is used to ensure that only those with certain qualifications can participate in the event. At present, the whitelist mechanism is widely used in the field of information technology and is mainly used for email spam filters and access control lists. Generally, whitelists are related to some particular services, events, or recognition. In the crypto world, the whitelist is mainly applied to the following cases:

Participate in the Crowdfunding of Projects

With regard to the crowdfunding of projects such as ICO, IEO, and IDO, the whitelist is established by the organizers of the token offering. Requirements to be on the whitelist usually include a minimum investment amount, having an account in good standing or being invited to participate (with a referral code), etc.

Qualified investors can enjoy exclusive ICO or pre-sale participation rights, which also means that they can purchase tokens at a lower price or receive a higher token allocation.

Participate in the Minting of NFT projects

There is also the concept of whitelisting in NFT projects. Similar to crowdfunding, an NFT whitelist refers to the list of participants who are allowed to participate in a given NFT marketplace or sale. This list is mainly managed by NFT issuers and is used to limit certain users to purchase or trading NFTs.

Ways to be admitted to the NFT whitelist include: participating in activities on social media, participating in the community on Discord, providing excellent content or ideas, etc. Users who enter the whitelist can usually mint NFT preferentially at a certain time while enjoying privileges such as avoiding network traffic and exorbitant gas fees.

What is an NFT? What's its feature? Please refer to the content: What is NFT

Withdraw Funds from Centralized Exchanges

In addition, withdrawing tokens on a centralized exchange will also involve a whitelist. In this case, the whitelist refers to the list of cryptocurrency addresses that users trust, and users can manually add trusted addresses to the whitelist.

After enabling the whitelist system function, users can only send funds withdrawn from exchanges to trading addresses previously included in the whitelist. Through this program, users can better protect their assets from attacks.