LaunchX IDO Tiers
We are excited to be able to move things to the next step regarding IDO tiers.
Last week, we started a community discussion on what the IDO tiers should look like for new projects that will launch on LaunchX.
We asked the following questions:
- How many tiers should there be?
- What should be the probability of success for each tier?
- Do we need another tier system?
- Should there be a guaranteed tier?
- Should the probability be fair across the board and instead weighted by delegation similar to Binance?
- What other attributes would you like to see implemented on top of what is being proposed for discussion?
Our team at LaunchX has carefully reviewed all suggestions and carefully considered everyone’s point of view. Now it is time for the community to decide once again. We have been incredibly humbled to see how engaged some members have been and for the effort that has been put into it.
We said this is a community project and we mean it. Therefore we are really pleased to have taken what we feel have been the best ideas and concepts and would like to suggest the following tier system.
We’ve just put up a vote on our governance portal! — https://forum.launchx.finance/t/launchx-ido-tiers/69
You’ll need $LNCHX tokens (in your BSC wallet) to vote
In essence, it comes down to ‘the more $LNCHX you have (staked), the higher your chance of winning an allocation for the IDO’.
Every 150 $LNCHX in your wallet or every 100 $LNCHX power tokens from staking will each give you one entry into the lottery!
Every staked $LNCHX token equals a $LNCHX Power token. $LNCHX Power tokens are synthetic tokens that you can use for different services on the platform while staking in the delegation staking contract for Vaults.
When you delegate tokens for staking to get access to yield from the LaunchX Vault, you also get a 1 to 1 synthetic token called LaunchX Power. These tokens give you a discount for IDO tickets and access to exclusive giveaways and staking campaigns, such as NFTs.
The voting process will be active for around 72 hours and if it passes, we’ll implement this system.
We appreciate everyone who turned out for our first governance vote! We want to incentivize bright minds with ideas to contribute to be at the forefront of what LaunchX is about. That is why the people who participated in the IDO Tiers governance discussion will be given guaranteed allocation from the Social/Incentive section of the first IDO on the platform (depending on if they follow the socials at the time of launch). Here’s the full list:
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