This article will outline our Tiers structure and the ‘Pool Weight’ mechanism! Read on to find out more.
How it works?
With 2 key determining elements in each category (Staking Requirement — Pool Weight) dictating the flow. The following are our 5 tiers and their respective ‘Staking Requirements’ and ‘Pool Weight.’
- Bronze — 2,000 (Staking) 1 (Pool Weight)
- Silver — 5,000 (Staking) 3 (Pool Weight)
- Gold — 10,000 (Staking) 7 (Pool Weight)
- Emerald — 20,000 (Staking) 15 (Pool Weight)
- VIP — 40,000 (Staking) 33 (Pool Weight)
NOTE: The pool weight does not need to add up to 100. It can be lower or higher.
With all tiers, the minimum staking period begins 4 hours before we open allocation rounds. This gives ample time for investors to accumulate our $TEX token prior to opening the allocation round.
How does ‘Pool Weight’ work?
There has been a lot of confusion surrounding the ‘Pool Weight’ mechanism! We’ll take an example here.
Let’s look at project ‘X’ launching on IoTexPad and they are selling 1,000,000 tokens in the public pool. There are 100 Bronze Members, 25 Silver Members, 10 Gold Members, 12 Emerald Members, and 5 VIP Members.
Bronze Members have a weight of 1, Silvers have a weight of 3, Golds have a weight of 7, Emerald has a weight of 15, and the VIP tier has a weight of 33.
The combined weight of all the qualifying buyers in this example is taken as the Sum-Of-Tiers [(No. of participants * Pool weight)].
Therefore (100*1) + (25*3) + (10*7) + (12*15) + (5*33) = 590
The amount of tokens allocated to each “Pool Weight” is 1,000,000 / 590 = 1,695.
The formula for the number of tokens allocated to a tier is given by:
No. of users in tier * Shared amount * Pool weight of tier.
Let’s take the Bronze example!
The amount of tokens allocated for bronze is 100 * 1,176 * 1 = 169,500. Since there are 100 users staked in bronze tier therefore it is 169,500 / 100 = 1,695.
Hence, each ‘Pool Weight’ will allot 1,695 tokens. For VIP tier, within this example, it will be 55,935 tokens. This is determined by 1,695 * 33 = 55,935.
Full Disclosure: Our tiers structure has been designed with community consensus at core. Adjustments will be made accordingly.
About IoTexPad
The first native launchpad on IoTeX committed to supporting emerging projects with incubation and IDO services. IoTexpad aims to launch the finest projects built on IoTeX.
We aim to replicate a fair, transparent, and collaborative process to ensure projects succeed.
With 5 tiers (Bronze, Silver, Gold, Emerald, VIP), all of which represent a staking requirement, ranging from 2,000–40,000, $TEX has designated a community-consensus based tiers structure with pool weight being the primary determining probability for an allocation, allowing for an equitable allocation procedure.
Resources
Website: https://iotexpad.network/
Twitter: https://twitter.com/iotexpad
Telegram: https://t.me/iotexpad
Telegram (announcement): https://t.me/iotexpadANN
Medium: https://iotexpad.medium.com/
