We have read each valued feedback provided to us, and we appreciate the time you have taken out to make Finminity better for the community.
The team has worked tirelessly behind the finalization of the Tier model based on the suggestions given in the form, and we promise we have heard you!
TIER AND ALLOCATION DETAILS:
More than 80% respondents are satisfied with our initial model, but we have come across some important suggestions that we have incorporated.
The following is the process-
- Bronze, Silver and Gold Tiers will be allotted 15%, 35% and 50 % respectively out of the total raise of the IDO.
- Depending upon the Tier that you belong to, the amount that will be allocated to you will be based on the total number of qualified tier holders.
Total IDO raise is $200,000.
- Bronze Tier will be allocated $30,000 (15%)
- Silver Tier will be allocated $70,000 (35%)
- Gold Tier will be allocated $100,000 (50%)
1) Bronze Tier
In total, $30,000 (15%) of the allocation will be kept for the Bronze Tier.
No. of winners and their selection process* will be based on lottery as per the following table structure.
2) Silver Tier
In total, $70,000 (35%) of the allocation will be kept for the Silver Tier.
One address (say Investor X) holds $FMT 1750 and therefore belongs to the Silver Tier, so he gets an allocation of $2000 if there are 35 addresses (i.e. $70,000 divided by 35). However, if there are 50 addresses that qualified* for Silver tier, then each will get $1,400 ($70,000 divided by 50), so and so forth. In this way, there is guaranteed allocation for the tier but it’s spread between all the tier holders. The selection of the Tier addresses will be based on the consent provided by the wallet holders within the set deadline. As of now we are not doing any weighted average of the holdings within the tier to keep the process simple.
3) Gold Tier
In total, $100,000 (50%) of the allocation will be kept for the Gold Tier.
So, we check the amount of qualified Gold tier holders* and divide that number with the allocation amount of $100,000. If there are 20, then each will get an allocation of $5000 and will reduce proportionately if the numbers in the tier are more.
* Allocation will be based on investor intent and consent provided through our consent form.
* Allocation will be on combined holding in their ETH and BEP wallets.
** Finminity team reserves the right to change, modify and make adjustments on the Tier model**
Finminity is an innovative Polkadot-driven cross-chain DeFi investor services platform that is flexible, rewarding, and most importantly secures funds through DeFi safety protocols of Value Locks, DAO, and Milestone-based fund release.