BinaryDAO-Netswap Scoring Plan

3 min readFeb 11, 2022

Starting Feb 14 15:00 (UTC) to Feb 25 15:00 (UTC)

Why Do You Need A Scoring Plan?

Many token launches are troubled with hype markets, non-transparency, centralized, and often use pure lottery-based mechanisms. A Scoring Plan is a more decentralized construct, where transparency, quality and substance, and most importantly, rewarding loyal community members are of the highest priority.

How to Participate

1. Scoring Plan Starting Feb 14 15:00 (UTC) to Feb 25 15:00 (UTC)

2. Go to BinaryDAO APP

200K allocation points (1 point= 1 $BYTE) will be distributed for this part.

3. Provide liquidity on Netswap for different trading pairs, then stake LP token to the scoring contract of BinaryDAO to earn allocation points.

Pairs/Rate

NETT/m.USDT: 20

NETT/m.USDC: 20

Metis/m.USDT: 15

Metis/m.USDC: 15

Metis/NETT: 10

Users who provide liquidity to the above pairs and stake the LP token to the scoring contract of BinaryDAO during the campaign period will earn whitelist rights as well. Allocation points depend on their share of the total staked LP token amount.

200K allocation points will be generated in seconds during the campaign period(Feb 14 15:00 (UTC) — Feb 25 15:00 (UTC) ) . The speed will be around 0.21 allocation points per second for all pairs.

For example, we know the summed up rate of total pairs is 80, NETT/m.USDT rate is 20. Which means the allocation point per second for NETT/m.USDT pool will be 0.21 * 20 / 80 ≈ 0.0525.

Let’s say Alice staked $100 LP token of NETT/m.USDT into the pool and the total staked LP token value of NETT/m.USDT is $100,000, then Alice will be distributed 100 / 100000 * 0.0525 = 0.0000525 allocation points per second.

Users can unstake their LP token at any time, allocation points distributed to per users will be stored on the contract.

UPCOMING BYTE GENESIS EVENTS

NFT Collection Sale: Mar 4 15:00 (UTC) — Mar 7 15:00 (UTC)
Presale (for Promotional Task Winners & Netswap Scoring): Mar 9 15:00 (UTC) — Mar 10 15:00 (UTC)
Public Sale: Mar 11 15:00 (UTC) — Mar 16 15:00 (UTC)
$BYTE Token Claim Opens: Mar 17 15:00 (UTC)
NFT Holder Snapshot & Airdrop: Mar 17 15:00 (UTC)
Netswap LP Farm: Mar 17 15:00 (UTC) — Apr 17 15:00 (UTC)
Product & $BYTE Staking Launch: Apr 1 15:00 (UTC)

About BinaryDAO

BinaryDAO is an evolutionary reserve currency protocol that uses its protocol-controlled value to reward token holders with exceptional yields. At the same time, it uses its treasury reserves to provide liquidity and invest in high-quality DeFi primitives.

Unlike the first-generation reserve currency protocols, the goal of BinaryDAO isn’t just to grow its market cap and treasury from bonding. Instead, BinaryDAO uses its PCV treasury to provide liquidity on high-quality DeFi primitives, effectively turning the DAO into an on-chain liquidity provider. The DAO will also farm the projects to which it provides liquidity. All tokens acquired by the DAO will be owned by the treasury, creating exponential value and unmatched upside for BYTE token holders.