The FireStarter Tiers
Introducing FLAME Power, Access Types, and Tiers
After weeks of development and feedback from our community, we are happy to announce our updated FireStarter Tiers for project IMO’s.
As an ecosystem, all actions on the platform should be rooted in the same mission of providing access to our community. From Locking and Staking $FLAME, to holding FS Champion NFT’s, these actions will now be combined into FLAME Power for an entirely new approach to access.
FLAME Power and Tiers
FLAME Power is an aggregated calculation that takes into account the various utilites of the $FLAME Token and FireStarter Ecosystem. Sources of FLAME Power can be calculated based off of the following:
Locking Tokens: 1 $FLAME = 1 FLAME Power
Staking Tokens: .001 FLAME-QS LP Token = 1,000 FLAME Power
FS Metaverse Champion NFT: 1 Hiro = 4,500 FLAME Power
Staking will follow the ratio of .001 FLAME-QS LP = 1000 FLAME Power. Example .0001 FLAME-QS LP = 100 Flame Power or .0018 FLAME-QS LP = 1800 Flame Power
Depending on the amount of FLAME Power accumulated, wallets will be divided into 5 FireStarter Tiers — starting with Light and ranking up to Flame. Your FireStarter Tier will determine the amount of allocation for each project.
LIGHT — 100+ FLAME Power
SPARK — 500+FLAME Power
SMOKE — 5,000+ FLAME Power
FIRE — 10,000+ FLAME Power
FLAME — 25,000+ FLAME Power
As seen above, there are 3 types of access to IMOs on FireStarter. Access type depends on your FireStarter Tier, and rank on the FLAME Leaderboard.
*Please note that all users regardless of Tier and place on the FLAME Leaderboard must apply to the IMO Whitelist to be eligible for IMO participation.
IMO Access Type
Surprise Lottery — Whitelist applicants qualified for the Light Tier will get access to the Surprise Lottery Round: 10 lucky lottery winners will receive an airdrop of the IMO token on launch date. The winners will be announced publicly and on our project page.
FCFS Whitelist Lottery — All users with at least 500 FLAME Power (Spark Tier) will be eligible to participate in the lottery for a place in the FCFS Whitelist.
- For every 500 FLAME Power, users will get 1 lottery ticket. The more FLAME Power users have, the higher your chance of winning a participation spot. For example, having 4,500 FLAME Power would mean you have 9 tickets.
- Max Allocation per Tier = Base Allocation * Base Allocation Multiplier
Guaranteed Allocation — The Top 25 Wallets ranked by Total FLAME Power have guaranteed access and allocation to our projects IMOS. Hiro NFT Holders will also be able to access Guaranteed Allocation by holding Hiro at the time of whitelisting and until successful IMO completion.
- Hiro holders who don’t have $FLAME locked are qualified for the base allocation amount per IMO.
- Those who have reached a specific Tier — will get the allocation per respective Tier guaranteed. For example, the wallet which has 5,007 total FLAME Power and holds Hiro — will get 2x of the Base Allocation guaranteed (500 USD in the example below).
FireStarter will define a Base (minimum) Allocation Amount per each IMO dependent on the total amount raised by the project and number of qualified users per each Tier applied for a specific IMO whitelist.
FLAME Leaderboard
The FLAME Leaderboard reflects those with the most FLAME Power. The Top 25 Wallets are Guaranteed Allocation, while the Top 10 do not have a Cooldown Period placed on their wallet.
The FLAME Leaderboard will be released within the next few days, with updates announced across socials and within this article.
FireStarter IMO Participation Process
- In order to prepare for IMO participation, users must accumulate FLAME Power in a verified wallet. Please make sure you have gone through the KYC process to verify your wallet. You do not need to go through separate KYC verification for each IMO.
- Users may then apply to a Project’s IMO Whitelist during specified application period.
- Applicants qualified for Guaranteed Access must still apply for Whitelist.
- Applicants qualified for FCFS Whitelist Lottery will take part in a lottery based on the amount of lottery tickets held. Every 500 FLAME Power grants 1 lottery ticket for a chance to win a spot on the FCFS Whitelist.
- All whitelisted users are announced and whitelisted status is displayed on firestarter.fi
- Users who qualify for Guaranteed Allocation will be able to invest in the IMO during the first 12 hours of the announced IMO period.
- FCFS Whitelist Lottery participants will be able to participate immediately after the time for Guaranteed Whitelist ends. Max allocation depends on users Tier. The maximum duration of FCFS Whitelist IMO period is 12 hours, but make sure to swap your funds as soon as possible as we expect most of the FCFS IMOs to be sold out in seconds.
- Surprise Lottery Round winners will receive airdrop of the IMO token at the launch date.
- Cooldown Period: If a user has successfully participated in an IMO on Guaranteed or FCFS basis, the wallet used to swap the tokens will be placed on a cooldown period of 7 days. (For more details on Cooldown period, read the respective section below)
Cooldown Period
The Cooldown Period is a 7 day period after succesful completion of an IMO. During this period wallets that have participated (on Guaranteed or FCFS basis) are restricted from applying to other IMO Whitelists.
Note: Users that successfully particpated in an IMO will be unable to unstake or unlock $FLAME tokens during the 7 days of the Cooldown period. FireStarter Hiro NFTs are also subject to the Cooldown period regardless of the wallet they are held in.
The Cooldown period is not applicable to the Top 10 wallets on the FLAME Leaderboard. No Cooldown period means you can participate in as many IMOs as you’d like, whenever you’d like!
Official Rules for Locking, Staking & FLAME Power
- Final FLAME Power will be calculated 24 hours before the start of our Public Pre-Sale IMO.
- Before calculations take place, all tokens will be locked until the Pre-Sale ends. This means you will not be able to unlock, unstake or transfer NFT’s and Tokens until that time.
- Tokens and NFT’s will be available for unlock 12 hours after the IMO ends.
Important
The FireStarter team reserves the right to change the parameters of the IMOs participation during the evolution of the platform development in order to achieve a fair and efficient system.
