2021 Seedify Tier System
(Kindly note that this article has since been updated! For the latest information on the Seedify Tier System, please refer to this updated article).
As Seedify, we have gone through a tier system change in the past, where we upgraded our 3-tier system to a 9-tier system where all tiers were guaranteed.
The initial version of the 9 tier system consisted of a system where it was based on guaranteed allocations for all tiers with a pool weight formula, where going to the next bigger tier also gave high pool weight bonuses.
While the first version of the 9 tier system created a more fair system compared to the old 3 tier system, it still created some problems, especially after the amount of participants who wanted to join IGOs increased drastically.
For the lowest tiers, most launchpads use a lottery based system, and even though we wanted to go with guaranteed allocation for all tiers, with a big base of users, guaranteed allocations for the lowest tier resulted in a problem that the allocations became too small.
Another feedback we got commonly, was that the bonus pool weight structures were too drastic.
To solve these two problems for the next IGOs we will be adopting lottery based allocations for the lowest tier which is tier 1, as well as updating the pool weight formula to the one below, and giving a chance to the lowest tiers to become guaranteed by second phase option:
Tier 1– 1.2 pool weight(lottery based)
Tier 2– 2 pool weight(guaranteed)
Tier 3– 5.5 pool weight(guaranteed)
Tier 4– 12 pool weight (guaranteed)
Tier 5– 19 pool weight (guaranteed)
Tier 6– 26 pool weight (guaranteed)
Tier 7– 70 pool weight (guaranteed)
Tier 8– 150 pool weight (guaranteed)
Tier 9– 325 pool weight (guaranteed)
Tier 1: 250 SFUND, Tier 2: 1000 SFUND, Tier 3: 2500 SFUND, Tier 4: 5000 SFUND, Tier 5: 7500 SFUND, Tier 6: 10000 SFUND, Tier 7: 25000 SFUND, Tier 8: 50000 SFUND, Tier 9 100000 SFUND
So in this updated tier system, there are still bonus pool weights for increasing tiers, but not too drastic so that there is a more fair distribution according to SFUND holdings. And that, lowest tier participants who win the lottery get to participate with more allocation compared to the first version of the 9 tier system.
Increasing tiers also come in added value benefits still in the form of:
Private rounds: for tier 6 and above
and
Seed club: for the tier 9 to participate in seed rounds (and if there is still allocation left, to be proposed to other high bracket tiers)
Since the above benefits + some bonus weights already create added value for higher tiers, reupdating the pool weight formula to a more balanced way made more sense to make the system more distributed and fair, so more people can get the chance to get benefits from IGOs. Still the skin in the game approach is intact, but not in a way that causes much unbalance.
P.S. if you have
Regarding First Phase and Second Phase
Seedify has an allocation system where your buy size according to your bracket is devoted to you fully in the first phase within a certain time-frame.
And in the second phase, the tokens that are left from the first phase are allocated as a First Come, First Serve round, giving fastest people 0.5x more allocation to buy in the second phase.
Buying SFUND
If you don’t have any SFUND yet, you can buy it from exchanges like Pancakeswap and Kucoin. In order to participate in IGOs; the wallet you provide in the KYC process needs to be the same wallet you interact with our launchpad smart contract. Therefore, if you are using a centralized exchange like Kucoin to buy tokens from, you need to then transfer your tokens to a wallet like Metamask first.
