Rocketpad’s Tier System Proves To Be A Game-Changer

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Rocketpad’s Tier System Proves To Be A Game-Changer
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By commencing its public auction, the Cardano-based launchpad is completing its IDO. The company garnered amazing replies during its seed sale, which finished before the deadline, and the pre-sale, which achieved the soft cap before the announcement. Despite the crypto market’s pessimistic outlook, hitting the hard cap admirably given it the motivation to start the public sale as soon as possible.

Rocketpad is a community IDO platform based on the Cardano blockchain. It was created to take advantage of DeFi’s strengths by offering efficient, transparent, and totally decentralized crowdfunding services. Due to its superior financing and technology, the blockchain has witnessed enormous growth in recent times and is projected to exceed most top blockchains in the field of network transactions.

Rocketpad will use its dominance to become the go-to platform for Cardano’s community, allowing them to pool money to fund high-growth initiatives with enormous potential for future growth and success.

$ROCKET Token Public Sale

With its novel tier system and input-based changes, Rocketpad solves all of the problems that plague existing launchpads. As a result, the project is gaining a lot of traction.

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By visiting the Public Sale webpage, users can participate in the $ROCKET Public Sale Round.

Public Sale Details

Public Sale Details

Token Allocation- 15,000,000 (10%)

Token Sale Price- 1 ADA = 37.5 $ROCKET

Minimum Buy- 100 ADA

Maximum Buy- 40,000 ADA

– The $Rocket token will be sent to the user’s wallet right away.
– By scanning the QR code on the site and sending ADA to one of the approved Cardano wallets, you can purchase the tokens.

The detailed Tokenomics can be found on the project’s official website. The main utility token developed for traversing the Launchpad is $ROCKET.

It also powered the Rocketpad Ecosystem, which is another reason why users are required to vote on projects on the Rocketpad platform that have the potential to qualify for IDO.

Structure of the Tiers

Rocketpad has created a novel tier system that allows the platform to reward and inspire $ROCKET token holders, removing the restrictions that newcomers to the crypto market face. The utility token provides complete support for the system. These layers will be built in collaboration with marketing experts and influencers, resulting in a steady supply of well-funded bitcoin initiatives.

The tier-allocation procedure begins 5 days before the sale when token holders stake the minimum amount required. Staking criteria varies for each of the five tiers, as stated below:

  • KNIGHT: 500 – 5,000
  • BISHOP: 5,000 – 50,000
  • ROOK: 50,000 – 250,000
  • QUEEN: 250,000 – 1,250,000
  • KING: 1,250,000 – 6,250,000

The corresponding pool weight increases as the tier level increases. The KING and QUEEN tiers, for example, have pool weights of 5 and 4, respectively.

The overall pool share determines the allocation procedure once the tiers are entirely defined. Assume that XXX wishes to sell about 100 million tokens on the Rocketpad platform. Let’s say there are 20 QUEEN and 10 KING tier members in the IDO; the pool weights determine the total pool shares, as indicated below:

80 + 50 = 130 shares (20 x 4) + (5 x 10)

The total quantity of tokens will then be divided by the number of shares to determine the number of tokens allotted to each share:
769,230 tokens = (100,000,000) / (130).

This means that each King tier member can buy 5 times their token number due to their pool weight of 5, whilst their QUEEN tier counterparts can only afford to buy 4 times their token quantity due to their pool weight.

Public feedback may help to improve the structure over time. Rocketpad’s popularity has skyrocketed as a result of its permanent solution to the faults that have hampered the efficiency of existing launchpads. Furthermore, it provides the community with a transparent structure that allows for democratic startup approval.