Tier Structure
Last updated
Last updated
The Ordify Launchpad has only 6 Tiers and operates on a pool weight-based method. Each Tier is listed below with the required amount of staking points as well as the corresponding pool weight.
Tier 1: Intern Staking Points Required: 200 Pool Weight: 1x
Tier 2: Engineer Staking Points Required: 1,000 Pool Weight: 2x
Tier 3: Pilot Staking Points Required: 5,000 Pool Weight: 6x
Tier 4: Specialist Staking Points Required: 10,000 PoolPool Weight: 10x
Tier 5: Astronaut Staking Points Required: 20,000 PoolPool Weight: 20x
Tier 6: Satoshi Staking Points Required: 50,000 PoolPool Weight: 50x
The Point system is a method of calculating the impact that user’s stake has on their IDO participation.
Points within the tier system act as a mechanism to track the degree of a user’s commitment within the Ordify ecosystem and attribute accurate amplification weights to the user’s allocation size. Points are calculated by taking the number of tokens staked and multiplying them by the pool multiplier.
Total $ORFY tokens staked * Pool Multiplier = Tier Staking Points
Example:
If a user stakes 1,000 $ORFY into 30 days pool, he gets 1,000 Tier Staking Points
If a user stakes 1,000 $ORFY into 60 days pool, he gets 1,200 Tier Staking Points
If a user stakes 1,000 $ORFY into 90 days pool, he gets 1,400 Tier Staking Points
If a user stakes 1,000 $ORFY into 180 days pool, he gets 1,600 Tier Staking Points
If a user stakes 1,000 $ORFY into 360 days pool, he gets 2,000 Tier Staking Points
A question asked, is how does the pool weight system work?
Let’s dive deep and break it down with the example of Ordify IDO. Let's imagine Ordify is selling 1,000,000 $ORFY tokens on the IDO. There are 100 Intern participants, 25 Engineer participants, 10 Pilot participants, 5 Specialist participants, 2 Astronaut participants, and 1 Satoshi Participant participating.
The total number of Base Allocation Slots is determined by adding together the products of the various tier pool weights and the number of participants in each tier:
(100*1) + (25*2) + (10*6) + (5*10) +(2*20) +(1*50) = 350
By dividing the number of tokens on sale with Base Allocation Slots we are getting the Base Allocation:
Base allocation = 1,000,000 / 350 = 2,857
For each tier, the Tier Allocation is computed by multiplying the Base Allocation by the Tier Pool Weight:
Tier Allocation = Base Allocation * Tier Pool Weight
Let's now apply this formula to all tiers and we get these results of tokens allocated to participants in each tier:
Intern: 2,857 * 1 = 2,857 $ORFY Engineer: 2,857 * 2 = 5,714 $ORFY Pilot: 2,857 * 6 = 17,142 $ORFY Specialist: 2,857 * 10 = 28,570 $ORFY Astronaut: 2,857 * 20 = 57,140 $ORFY Satoshi: 2,857 * 50 = 142,850 $ORFY
These figures are theoretical to prove the calculations however it does not reflect the real event. This is because there would be more than one staker in the Satoshi tier, hence the allocations would be distributed more evenly.
When considering eligibility criteria for IDO participation, there are two fixed and one optional requirement. The fixed requirements include: the user must have a verified account (completed KYC) and must attain the minimum staking tier necessary for IDO participation (note: minimum staking tier required might vary per IDO). The third eligibility requirement is Registering Interest for the specific IDO fundraising event. Not all IDOs will require mandatory registration, hence this requirement is optional.
Note: Users who are ineligible for participation due to not registering interest but meet the other two mandatory criteria (KYC and minimum staking tier) will still have the opportunity to participate in the FCFS round, even though they are not eligible for participation in the Guaranteed round.
Before each IDO fundraising event, a snapshot is taken to determine individual user allocations. This allocation is contingent upon factors such as the user's Staking Tier, the number of other participants holding different tiers, and the total amount of funds being raised for the specific IDO.
The fundraising event comprises two rounds to ensure fair participation:
Guaranteed Round - Eligible users have a 24-hour window to invest, with their maximum investment determined by individual allocations from a prior snapshot.
First-Come-First-Served Round - If there are unsold tokens after the Guaranteed Round, a one-hour FCFS Round begins. Users' individual allocations are multiplied by a factor (usually between x3 and x5) in this round, but allocations are not guaranteed, necessitating quick action.
