Trac Validator License Presale

This article covers the Trac Validator License Presale that goes live on July 14th. It provides information on how to participate in the presale,
eligibility criteria, as well as all the important dates and processes involved.

The Snapshot

On July 7th (at 23:59 UTC), we will conduct a snapshot across the Trac ecosystem. Holders of $TRAC, $PIPE, $GIB, and $-TAP, in addition to all contributors to the ecosystem validation pool, will be eligible for whitelist for Round 1 of the Trac Validator License Presale that will take place on July 14th (at 11:00 UTC).

The Presale website will be added here after the snapshot: (will appear here), and we will be implementing a priority system for the whitelisting of addresses. This will reward those holding the following tokens.

• $TRAC and/or
• $-TAP and/or
• $PIPE and/or
• $GIB

ONLY addresses that register interest before the snapshot (7th of July) will be eligible to participate in the presale. (see ‘Register your Interest’ section below).

Weighting Scores

After the snapshot, we will attribute a weighting score (using multipliers below) for all eligible addresses, and this will be based on the level of support for the Trac Ecosystem (on-chain data). Weighting scores will be a function of:

• Number of $TRAC/ $PIPE/ $-TAP/ $GIB held (the more you hold the higher the number)
• The amount of time you held from time of buy to snapshot (buy and sell included)
• The number of interactions with Tap Protocol and Pipe Protocol.

Breakdown of License Availability:

• Priority for the first 270 validator licenses will be reserved for those addresses which received the greatest weighting score as per the info above within the ‘‘weighting scores’ section. These 270 addresses will form the core whitelist. Therefore, addresses ranked 271 and above will be added to the waitlist.
• Once the presale goes live, these 270 addresses will have a 2-hour window in order to complete their deposit of 300 $TRAC. Addresses that have not deposited within that time frame, will forfeit their chance to purchase a validator license during round 1, and the opportunity will pass on to the next person on the waitlist (ie. Rank 271, 272, etc.).
• For round 1, the final 30 Validators will be made available within a raffle component, and any address that holds at least 300 $TRAC at the snapshot on July 7th (23:59 UTC) will be eligible (or equivalent in other TTP assets). To be clear, no weighting score is necessary to be eligible for participation in the raffle component of this presale. The 30 successful addresses will then be able to deposit their 300 $TRAC to complete their purchase.
• The 30 winners of the raffle will be drawn on July 13th.
• The core whitelist and raffle components combined, will result in a full round 1 whitelist of 300 individual addresses, and all other eligible, registered addresses will be added to the waitlist.

Participation steps

Step 1: Anyone can register their interest using the form, all the way up to the snapshot.

Step 2: Snapshot taken on July 7th (23:59 UTC).

Step 3: We will complete the weighting calculations for all eligible addresses.

Step 4: Raffle drawn on July 13th.

Step 5: Presale begins 14th July (11am UTC).

Register Your Interest

In order to participate in the presale, you must register your interest using the form below between now and the snapshot on July 7th (23:59 UTC).

Register interest Here

We will collect addresses from this form, compare them with snapshot data, and then construct the weighting-score based whitelist for the presale.

Day of the Presale (July 14th)

On July 14th at 11am UTC, whitelisted individuals can visit the website and connect their wallet (Xverse, OKX, Leather, Unisat) to participate.

They will first be required to read and accept the Terms and Conditions, and then sign with their wallet to reveal the deposit address.

Once the deposit address is revealed, 300 $TRAC will need to be deposited into it within the 2 hour window in order to secure a validator license.

For those addresses on the waitlist, during the first 2 hours, signing with their wallet will not show the deposit address, but instead will reveal their position in the waitlist, as well as the amount of non allocated licenses at that time.

These people will need to check back every 2 hours for the potential opportunity to participate in the next window if any licenses were still available.

(Images with step-by-step participation instructions will be added to this article later this week).

Reminder:

• Assets on centralized exchanges (CEXs) are out of scope. We cannot differentiate ownership on CEXs, and therefore cannot whitelist non-custodial wallets.

Considerations

It is important to emphasize that this is a presale for validator licenses. What individuals and institutions can obtain during this presale, is a license which provides the right to run a validator node once they become available. The validator nodes, and therefore, the associated $TAP APY will become available at a later date (Q3/Q4 2024).

At that time, owners will be then able to transfer or resell their licenses on secondary markets.

Unlike with many other validator programs, with the Trac Network, you will literally OWN your nodes.

The team and affiliated partners will not participate in the presale.

TLDR

1/ July 7th Snapshot (based on ownership of eligible assets).
2/ Register interest here before July 7th 23:59 UTC.
3/ Raffle drawn July 13th.
4/ Go to website on July 14th 11AM UTC and deposit 300 $TRAC to the deposit address if whitelisted.

Stay Informed

We appreciate your patience and understanding. We’ll continue to keep you updated through our social media channels. Make sure you’re following us to receive the latest news about the $TAP token launch date and other important announcements.

Trac Systems Discord: https://discord.gg/trac
TRAC on X: https://x.com/trac_btc
TAP on X: https://x.com/tap_protocol
Pipe Protocol on X: https://x.com/PipeBtc
TAP Protocol Telegram : https://t.me/tap_protocol
Pipe Protocol Telegram: https://t.me/pipe_btc