How Rocketpad Aims To Bring A Complete Overhaul In The Crypto-World With Its Tier Structure
February 7, 2022 /MarketersMedia/ —
ROCKETPAD enters the 7th day of its public sale - the last stage before the IDO platform gets listed on top exchanges. The phase began immediately after hitting the hard cap in the pre-sale by selling 22.5 million tokens within days which was preceded by the seed sale where 30 million tokens were sold ahead of the deadline! This depicts the fast pace at which the crypto community is adopting the $ROCKET token.
TOKEN & THE PLATFORM
ROCKETPAD is a community IDO platform built on the Cardano blockchain to enable startups and new businesses to raise capital to scale their operations in a decentralized and transparent manner. Rocketpad is the next generation of blockchain launchpads which aims to become the place where Cardano’s extensive community can come together to fund high-growth projects characterized by the immense potential for future success. Its utility token is $ROCKET which has multiple uses the main being the subscription token to navigate the ROCKETPAD ecosystem.
The working of the launchpad initiates with the internal due diligence department carefully selecting the most promising and legitimate start-ups looking for financing and listing them on your dashboard. Then, the owners of IDO tokens (which are distributed to $ROCKET holders) will be able to vote on the projects they believe have the potential to qualify for IDO on our platform. The Rocketpad differentia is a five-dimensional tier system that promises to assign allocation to each tier level.
TIER LEVELS & ALLOCATIONS
After a project gets approved, the participants are required to stake a given amount of tokens corresponding to their respective tier levels. The tiers are named after chess pieces and the minimum requirements are given 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 pool weights start from 1 and increase in ascending order from the KNIGHT to the KING tier, so for example the KNIGHT has weight 1, the BISHOP 2, and so on until the KING’s 5 which is the highest.
Once the staking requirements are fulfilled, the allocation process begins which depends on the total pool share and will be explained using the example of project xxxx. Suppose the project wants to sell 10 million tokens in an IDO where 20 BISHOP while 30 ROOK tier members participate. The total pool shares according to the pool weights are:
(20 x 2) + (30 x 3) = 40 + 90 = 130 shares
Thus, the total supply is divided between these shares:
(10,000,000) / (130) = 76, 923 tokens
So BISHOP members have the ability to purchase twice this amount of tokens and on the other hand, ROOK tier members will be able to purchase thrice this amount of tokens. To put it simply, the higher your tier, the more money you will be able to contribute to the launch of the new initiative.
THE PUBLIC SALE
ROCKETPAD - supported by its revolutionary tier system and input-based modifications - fixes all major flaws of existing launchpads contributing to its surge in popularity. The ongoing sale is your last chance to buy the token in bulk at the lower price of 1 ADA = 37.5 $ROCKET tokens. The offer is for the remaining 10% of the total of 150 million with the minimum buy being 100 ADA and the maximum, 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.
Visit Our Official Links to Learn More About ROCKETPAD:
Website: https://rocketpad.community/
Twitter: https://twitter.com/Rocketpad2
Facebook: https://www.facebook.com/RocketPad-Community-104445882033416/
Contact Info:
Name: Kanna Aiko
Email: Send Email
Organization: Rocketpad
Website: https://rocketpad.community/
Source: MarketersMedia
Release ID: 89062984
