We are strong believers in lean and agile development. We are constantly learning and adapting to make our platform the go to launchpad on Tezos. Over the past couple of weeks we have heard several concerns and questions being raised on the lottery style IDO approach. With that feedback, we are making some changes we think everyone will appreciate.

After weeks of deliberation and community feedback, including this poll on Twitter, we have decided to adopt the weighted tier system to allow anyone to participate in an IDO that stakes a minimum of 25,000 $RCKT. Users that stake enough $RCKT to enter into our higher tiers will be able to purchase a higher allocation of tokens.

Weighted Tier Breakdown

The weighted system is already proven to be very successful and has been utilized by most major launchpads. Our inspiration came from community feedback as well as BSCPAD. For our model, we adjusted figures to work with our current tier structure and to best suit our users. The following tiers will still be utilized with the following requirements.

Triangulum Tier

Stake Requirement: 25,000 RCKT

Stake Lock Length: 30 Days

Guaranteed Allocation: Yes

Pool Weight: 5

Milky Way Tier

Stake Requirement: 250,000 RCKT

Stake Lock Length: 30 Days

Guaranteed Allocation: Yes

Pool Weight: 20

Andromeda Tier

Stake Requirement: 2,500,000 RCKT

Stake Lock Length: 30 Days

Guaranteed Allocation: Yes

Pool Weight: 80

Lets See an Example!

For this example, lets say the project is selling 20,000,000 tokens and wanting to raise 100,000 $XTZ. We have 250 users staked in the Triangulum tier, 50 users in the Milky Way tier, and 5 users in the Andromeda tier. The weight of the Triangulum tier is 5, Milky Way is 20, and Andromeda is 80.

First, you need to calculate the combined weight of all tiers. This is done by multiplying the number of users by the tier weight and then adding them up for all three tiers. (5*250)+(20*50)+(80*5)= 2650.

Next, you need to know the number of tokens set aside for each allocation. This is done by dividing the number of tokens being sold by the combined tier weight. 20,000,000 * 2650 = 7547.169811

Now, you need calculate the number of tokens allocated to each tier. This is done by multiplying the number of users in the tier by the share amount and then multiplying it by the tier weight.

Triangulum: 250 * 7547.169811 * 5 = 9,433,962.26
Milky Way: 50 * 7547.169811 * 20 = 7,547,169.81
Andromeda: 5 * 7547.169811 * 80 = 3,018,867.92

Finally, you can figure out the tokens allocated to each user by dividing the number of tokens in each tier by the number of users in each tier. Then multiply that by the XTZ price per coin to get the max XTZ purchase each allocation can buy.

Triangulum: 9,433,962.26 / 250 = 37,735.84904 / .005 = 188.68 XTZ
Milky Way: 7,547,169.81 / 50 = 150,943.40 / .005 = 754.72 XTZ
Andromeda: 3,018,867.9 / 25 = 603,773.58 / .005 = 3,018.87 XTZ

Clearly there is a benefit of staking in a higher tier as you will be able to buy incrementally more IDO tokens with each increase in tier. Check out this detailed chart below.

First Come, First Serve (FCFS) Tier

Individuals that have interacted with previous sales should be familiar with our FCFS tier. In the event there are unsold tokens, we will open up the FCFS tier. Allocation minimums and maximums will be set and announced a hour before the FCFS token sale. Users will have one hour to buy the remaining tokens. Unsold tokens will be burned.

Summary

  • All users that stake enough to enter a tier will now be able to purchase allocations in token sales.
  • You must stake your RCKT on our website here: https://app.rocketlaunchpad.io/stake
  • All currently locked presale/private sale RCKT will be counted as tier based staking.
  • Each tier incrementally allows you to purchase more IDO tokens.
  • A whitelist will be created 1 week before each IDO. You must stake your RCKT before the IDO whitelisting event to qualify.
  • Unsold tokens from the Triangulum, Milky Way, and Andromeda tiers will be placed in the First Come, First Serve tier for a period of 1 hour.
  • Users will be IP blocked from participating in IDOs from these regions: Afghanistan, Angola, Azerbaijan, Bosnia and Herzegovina, Botswana, Burundi, Cambodia, Cameroon, Chad, China, Congo, Congo (Democratic Republic), Cuba, Eritrea, Ghana, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Lao People’s Democratic Republic, Liberia, Libya, Madagascar, Mozambique, Nicaragua, North Korea, Pakistan, Somalia, South Sudan, Sri Lanka, Sudan, Syrian Arab Republic, Tajikistan, Trinidad and Tobago, Turkmenistan, Uganda, United States, Uzbekistan, Vanuatu, Venezuela, Virgin Islands (U.S.), Yemen, Zimbabwe.

We will continue to adjust tiers, weights, and the general IDO structure to best facilitate token sales and our users. Have some feedback? Let us know in Telegram or Discord:

Twitter: https://twitter.com/Rocketlaunchpd

Discord: https://t.co/o47d7K9NeN?amp=1

Telegram: https://t.co/8KrDWowOR6?amp=1

Medium: https://rocketlaunchpad.medium.com/

A decentralized IDO platform, built on top of the Tezos blockchain.

A decentralized IDO platform, built on top of the Tezos blockchain.