AVXL Tier structure — Important Updates

Dear Community,

What a splendid response to our tier system!

We are overwhelmed with our community’s response to the our new Tier system. The community managers’ and the team’s inboxes have been flooded with DMs either praising the tier system or giving suggestions on how to bring more improvements to it.

We made the tier system considering the low cap fundamentals of projects and to benefit as many community members as possible. Although the team spent a lot of thought in making the best tier system, we still got some suggestions from our advisors and community on how to make it even more robust.

In consideration of all points suggestions, we have brought the following changes in tiers -

  1. We have decided to eliminate the perpetual staking pool from IDO allocation — this means that participants of this pool will not get IDO allocations. This has been decided as it will remove the very small allocations users got and reduce the unnecessary sell pressure. The pool will continue to offer the 12% APY as usual.
  2. Two new tiers — Andes and Alps (based on popular mountain ranges) will be added to the tier system which will require 600,000 and 1,000,000 $AVXL tokens to be staked respectively. These new pools will also give participants a chance to invest in private sales of the projects (Subject to the IDO project terms).
  3. We are also rebranding the “LP Pool 3” to “Perpetual LP Pool”— a pool where users can stake their LP tokens and be entitled for IDO allocation. (10x weightage on this pool). This pool also has an APY of 40%.

Although these changes are very abrupt, we are sure that our community members will appreciate the greater good these changes will bring to the AvaXlauncher community. We would request everyone to support these decisions to take AvaXlauncher to even greater heights.

Summary of the updated tier system -

Summary of $AVXL tier system

Calculation of Allocation

Let’s suppose we have given participants (check table below) for each tier and perpetual LP staking pool with a raise amount of $100,000 for the upcoming IDO.

Now the combined weight of participants will be:

(5x30) + (5x25) + (5x20) + (10x12) + (20x10) + (30x5) + (50x2) +(100x1) +(100x10) = 2045

Amount of each share will be: 100000/2045 = $48.9

Amount to each pool: users x share x weightage

For Cho-Oyu:
Total Pool Amount: 100 x 48.9x 1 = $4890
Amount for one user = Total pool amount / no of users in the pool = 4890/100 = $48.90

For Makalu:
Total Pool Amount: 50 x 48.90x 2 = $4890
Amount for one user = Total pool amount / no of users in the pool = 4890/50 = $97.8

For Lhotse:
Total Pool Amount: 30 x 48.9 x 5 = $9,708
Amount for one user = Total pool amount / no of users in the pool = 9708/30 = $323.6

For Kangchenjunga:
Total Pool Amount: 20 x 48.9x 10 = $9780
Amount for one user = Total pool amount / no of users in the pool = 9780/20 = $489

For K2:
Total Pool Amount: 10 x 48.9x 12 = $5868
Amount for one user = Total pool amount / no of users in the pool = 5868/10 = $586.8

For Everest:
Total Pool Amount: 5 x 48.9 x 20 = $4890
Amount for one user = Total pool amount / no of users in the pool = 4890/5 = $978

For Alps:
Total Pool Amount: 5 x 48.9 x 25= $6112.5
Amount for one user = Total pool amount / no of users in the pool = 6112.5/5 = $1222.5

For Andes:
Total Pool Amount: 5 x 48.9x 30= $7335
Amount for one user = Total pool amount / no of users in the pool = 7335/5 = $1467

For Perpetual LP Stakers:
Total Pool Amount: 100 x 48.9 x 10= $48900
Amount for one user = (LP staked x time) / ( ∑Total LP staked x time)

“∑tokens staked” = total tokens stake in perpetual LP staking
“∑time” = time for which total LP are staked in perpetual LP staking pool

We also take utmost caution in verification of an IDO and only bring the best of the projects from the market that would benefit AVXL community along with boosting the TVL of Avalanche network.

We also want to highlight that a brand new UI revamp of the AvaXlauncher is underway and will release very soon -

Sneak peek of our revamped UI

Also stay tuned for very exciting IDOs coming to the AvaXlauncher platform.

Summary and important points:

  1. Perpetual staking pool will not be included for IDO allocations. It will continue to offer the 12% APY as usual.
  2. Two new tiers — Andes and Alps have been added with stake requirement of 600,000 and 1,000,000 $AVXL respectively. These two tiers will also grant users with access to private sale of the IDOs.
  3. LP pool 3 to be rebranded as Perpetual LP pool in the tier system with 10x weightage and 40% APY.
  4. User to stake the tokens minimum for 7 days (or more, depending on the tier requirements)
  5. UI will display your current pool based on the no of tokens staked.
  6. NO automatic unstake of the pool tokens after the staking period. User is part of the tier until he choses to voluntarily unstake.
  7. With each IDO announced, user has to sign a metamask signature to confirm the IDO participation.
  8. To change the tier, user has to unstake from the current pool and restake in the new pool.

Join us on:

Twitter | Telegram | Telegram Announcements | Website

--

--

--

AvaXlauncher is the first Incubator + launchpad for the Avalanche ecosystem. Website: https://avaxlauncher.com/

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

APPLYING FOR A PROJECT ON CRODO

Pay anonymously with Bitcoin: bestmixer.io

31/01/2018: Biggest Stories in the Cryptosphere

Introducing Voxto: The easy way to generate crypto returns.

Hoard: One Platform To Rule Them All!

Revolutionizing charitable donations by harnessing the power of blockchain

Notes from 7/9–14/9

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
AvaXlauncher

AvaXlauncher

AvaXlauncher is the first Incubator + launchpad for the Avalanche ecosystem. Website: https://avaxlauncher.com/

More from Medium

Announcing Sunshine Validation

Recap of AvaXlauncher Community AMA | 16th FEB 2022

DePocket Announces Partnership With Autofarm To Make Yield Farming Easier

Solstarter | Atlas DEX Swap Guide