As we had a survey recently and it’s following feedback about an ideal launchpad it’s time to release the core system for IDO participants and GrailPad community, which is tier-system. We had almost 500 responses to our tier to the recent version of sample tier-system in our website, an enormous response that shows how many of you are truly engaged in the future of our ecosystem.
To stay fair to you, we read through every single one, and held several internal focus groups with our community managers, developers, and communications team to plan out our final tier structure.
Registration and Staking
Before we get started, let’s talk about the length of time you are required to stake to be eligible for a given tier, and the IDO registration process. The first is easy, you simply need to have GRAIL staked in and get xGRAIL for the IDO registration cut-off, as described below. There will still be a minimum staking lock-time requirement, which is 7 days.
When the Staking mechanism will be applied in GrailPad in the end of December 2021, There would be two important factors which define how much xGRAIL you will earn by staking GRAIL: amount and lock time. Now everything is functional in the main-net. The default lock-time for a 1–1 rate for GRAIL and xGRAIL would be 90 days.
Now we will not apply first-come-first-serve mechanics through your feedback, we will require registration for IDOs. This serves two purposes:
- You get to register your interest in only those IDOs which truly appeal to you,
- You are not subject to a cool-off period (described below in “Definitions > Cool-off”) by being whitelisted for IDOs you do not wish to participate in.
We will get to the registration process in a step-by-step guide in a later article and through a guide on our Medium before our first IDO — we will give you ample time to register.
Cool-off periods and registration mechanism were introduced to give those in introductory tiers the greatest likelihood of IDO participation. We want to emphasize here that cool-off periods only apply to those who register and whitelist for an IDO — you will not be randomly whitelisted and penalized if you choose not to participate. So, let’s get to it.
Our tiers are named after layers of Earth’s atmosphere. We start at Troposphere, Stratosphere, Mesosphere and Thermosphere. A further region at about 700 km above the Earth’s surface is called the Exosphere, as we’re confident that even our entry tier offers huge benefits to our community.
Please note, our tiers are subject to change according to the price of GRAIL and the natural progression of our ecosystem. However, we will give plenty of warning when/if tiers change in the future.
Tier Five — Troposphere
- GRAIL Stake requirements: 30,000 xGRAIL
- Participation multiple: 1
- Max Allocation: $100*
- IDO Cool-off: 2 IDOs
The Troposphere is the lowest layer of our atmosphere. Starting at ground level, it extends upward to about 20 km (12.4 miles or about 66,000 feet) above sea level. We humans live in the Troposphere, and nearly all weather occurs in this lowest layer.
Tier Four — Stratosphere
- GRAIL Stake requirements: 60,000 xGRAIL
- Participation multiple: 2
- Max Allocation: $250*
- IDO Cool-off: 1 IDO
The bottom of the Stratosphere is around 20 km (12.4 miles or about 66,000 feet) above the ground at middle latitudes. The top of the Stratosphere occurs at an altitude of 50 km (31 miles). The height of the bottom of the Stratosphere varies with latitude and with the seasons. At this tier, you are ascending towards great heights. Your max allocation increases, you have double the participation multiple, and you only need to wait one IDO for a cool-off period.
Tier Three — Mesosphere
- GRAIL Stake requirements: 100,000 xGRAIL
- Participation multiple: 4 + stake-weighted
- Max Allocation: $500*
- IDO Cool-off: 1 IDO
The Mesosphere is the third highest layer of atmosphere and occupies the region above the stratosphere and below the Thermosphere. This layer extends from the stratopause at an altitude of approximately 160,000 ft to the mesopause at approximately 80,000–260,000 ft above sea level. This level offers over $500 allocations, a 4x + stake-weighted participation multiple and just one IDO cool-off.
Tier Two —Thermosphere
- GRAIL Stake requirements: 150,000 xGRAIL
- Participation: Guaranteed
- Max Allocation: $700*
- IDO Cool-off: No cool-off
The Thermosphere is a layer of Earth’s atmosphere that is directly above the Mesosphere and below the Exosphere. It extends from about 85 km (53 miles) to between 690 km (430 miles) above our planet. Thermosphere has no cool-off periods, with a maximum allocation of $700.
Tier One — Exosphere
- GRAIL Stake requirements: 200,000 xGRAIL
- Participation: Guaranteed
- Max Allocation: $1,000*
- IDO Cool-off: No cool-off
There is no clear-cut upper boundary where the exosphere finally fades away into space. Different definitions place the top of the Exosphere somewhere around 10,000 km (6,200 miles) above the surface of Earth. The latter value is about to the Moon! Enjoy guaranteed whitelisting and $1,000 max allocation with no cool-off periods.
*Max allocation may differ from actual allocation (i.e. actual allocation may be lower).
What do the above parameters mean? Let’s describe them below:
Name — We have proposed that our tiers are named after layers of Earth’s atmosphere which are Troposphere, Stratosphere, Mesosphere, Thermosphere and Exosphere.
Stake (GRAIL) — This is the amount of GRAIL you need to leave in our staking smart contract in order to get xGRAIL for a tier. Note, that this is separate to staking rewards. So, if you have 60,000 GRAIL staked for 90 days then you have 60,000 xGRAIL, you are eligible for staking reward and you are also in Tier 4 — Stratosphere.
Participation — This parameter is slightly more complicated. If you are in tiers 1 & 2, you have 100% participation. This means you can take part in any IDO at any time. On the other hand, tiers 3–5 have ‘multiples’. This means that your chance of being selected is increased by the given multiple, according to which tier you are in.
For example: Alex is in tier 5. He is staking 30,000 GRAIL for 90 days and get 30,000 xGRAIL. Alex has one ‘ticket’ to the selection draw for whitelisting for an upcoming IDO. Jade, on the other hand, is in tier 4. She has two ‘tickets’ to the section draw for whitelisting for an upcoming IDO. She has double the chances of Alex. Jason is in tier 3. He has four ‘tickets’ at the lowest required stake of 30,000 GRAIL for 90 days. However, Jason’s tickets are stake-weighted. This means that if Jason stakes 60,000 GRAIL for 90 days which give 60,000 xGRAIL, he now has eight ‘tickets’.
Max Allocation — The maximum amount, in US Dollars, that you can contribute to an IDO (given maximal conditions i.e. pool size) within different tiers. Actual allocation may differ, for instance if a pool originator opts to make a pool smaller than average.
Cool-off — If you participate in an IDO, you must wait for a certain number of IDOs to pass before you can be considered for entry into another one. This depends on your tier.
How did your feedback help us redefine our tiers?
We defined first version of tier system which have total of 5 levels, including 2 guaranteed levels for allocations. This is our version everything will change in GrailPad by voting. The weight of everybody’s vote would be based on the balance of xGRAIL. But before that:
What were our guiding principles when designing our tiers?
- We sought to maximize the probability-weighted return for all of our community members,
- We sought to provide clear benefits to those who accumulate xGRAIL,
- We ensured we offered sizable allocations even to those staking a relatively modest amount of GRAIL,
- We aimed to democratize IDO access despite the potential GRAIL price volatility.
With your help, we believe we can be the future of fundraising. So, how did your feedback shape our tiers?
Thank you GrailPad community for making this ecosystem great!
GrailPad is a permissionless DEX built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized and interoperable environment based on its own ecosystem. With GrailPad, decentralized projects will be able to raise and exchange capital cheap and fast. Users will be able to participate in a secure and compliant environment and to use assets that go through our portal in BSC, Polygon, Solana, Ethereum and Avalanche.
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