Why Rocketpad’s Tier System Is A Game-Changer

Time Stamp: February 7, 2022 5:41 AM
Source Node: 1603780

Rocketpad is basically a community IDO platform built on the Cardano blockchain. It has been designed to leverage  De-Fi innovations to provide transparent, efficient, and fully decentralized crowdfunding services. The blockchain has enjoyed rapid growth in recent times and is widely anticipated to cross Ethereum in terms of network transactions due to its technologically and financially superior DeFi tools. In line with this, ROCKETPAD will become the place where Cardano’s extensive community can come together to fund high-growth projects characterized by the immense potential for future success.

The Cardano-based launchpad has just kicked off its public sale – the final stage in its IDO. The company received exuberating response during its seed sale which ended before the listed deadline and the pre-sale where the soft cap was reached just hours after the announcement. It hit the hard-cap in a grandstyle amidst a bearish outlook in the crypto market and decided to begin the public sale without any delay.

The Public Sale

The offer in the public sale is for the remaining 10% of the total supply of the $ROCKET token (detailed tokenomics can be viewed at the dedicated webpage on the site) which is the main utility token used to navigate the launchpad. The token powers the ROCKETPAD ecosystem and is mandatory to vote on the projects you believe have the potential to qualify for IDO on the platform. The sale is your last chance to buy the token at the lower price of 1 ADA = 37.5 $ROCKET tokens as the token is already on the verge of being listed on top exchanges. The minimum buy is 100 ADA while the maximum is at the value of 40,000 ADA. The sale can be participated in by scanning the QR code on the Public Sale webpage of our website and sending ADA using any Cardano-supported wallets.

Tier Structure

The utility token helps support a revolutionary tier system through which the platform has found a solution to motivate and reward all the $Rocket token holders in a way that includes everyone who has the token thus erasing the barriers to entry into the crypto market. The tiers are being built with influencers and marketing partners which will result in a consistent stream of well-funded crypto projects.

The tier-allocation process begins with the token holders staking the minimum required amounts 5 days prior to the sale. These staking requirements are different for each of the 5 tiers and are listed below:

  • KNIGHT: 500 – 5,000
  • BISHOP: 5,000 – 50,000
  • ROOK: 50,000 – 250,000
  • QUEEN: 250,000 – 1,250,000
  • KING: 1,250,000 – 6,250,000

The higher tiers have greater pool weights and these correspond to the level number so for example, the KING tier has a pool weight of 5 while the QUEEN tier has a pool weight of 4 and so on.

After the tiers are set, the allocation process depends on the total pool share. This can be better comprehended by using the example of an project. Lets take  the example of xxxxxx which wants to sell 100 million tokens on the platform. Further suppose that 10 KING and 20 QUEEN tier members participate in its IDO and so the total pool shares depending on the pool weights are: (5 x 10) + (20 x 4) = 50 + 80 = 130 shares.

rock

Then, the total supply of the tokens will be divided between the shares so a single share will be allocated: (100,000,000) / (130) = 769,230 tokens.

Hence, each KING tier member will be able to buy 5 times this number of tokens as its pool weight is 5 while QUEEN tier members will be able to buy 4 times this amount corresponding to the tier’s pool weight.

The structure will keep on improving based off input from the general public. ROCKETPAD has enjoyed a surge in popularity because it fixes all the all the flaws of existing launchpads and provided the community with a transparent system allowing for a democratic approval of start-up. So log onto the public sale page on the website and make good use of this once-in-a-lifetime investment opportunity.

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