Ignition Update: Advancing Our Circular Economy
Dear $PAID Community!
As a follow-up to a series of big announcements and events across our ecosystem, we are working hard to ensure that our circular economy remains as robust as possible so that we can deliver even more amazing projects and opportunities to you through our Web3 fundraising platform, Ignition.
If you have been with us for some time, you will know that we are on a mission to build the best Web3 and DeFi investment space — and that is no secret!
To meet these goals, our team is dedicated to finding necessary ways to revisit and review our economic model periodically to ensure its sustainability and effectiveness moving forward. With that in mind, we are introducing a series of enhancements to our current model, which aims to create a more dynamic and rewarding environment for our community en masse.
Our Economic Model Enhancements Are As Follows:
Powering Our Circular Economy to New Heights With ‘Fuel’
To better support our community’s growth and provide enhanced rewards to our stakers, we will increase our fuel charge from 10% to 15% for both Early Pool and Open Pool participants.
This increased fuel structure aims to significantly enhance our resource pool, allowing us to add more value to our circular economy while facilitating the expansion of our operations and our overall impact within the Web3 space.
Adjusting our fuel charges means that we will be reinvesting all acquired funds back into our community to ensure more substantial rewards directly for our stakers, a change that not only reflects our gratitude for their trust and investment but also aims to provide them with higher rewards that are in line with the value they contribute. This does not go into the pockets of Paid Network!
Fee Collection in Project Tokens by Default
Another enhancement we are introducing is that all participation fees will be collected in Project Tokens retroactively to a launch. However, we will offer participants the flexibility to pay fees in Stablecoin for certain projects based on individual circumstances.
Airdrops for Stakers
For Airdrops, we will redirect 25% of collected participation fees — initially allocated to the Community Fund — to be airdropped directly to $PAID stakers. This aims to incentivise further and reward staking activities, enhancing the attractiveness and rewards of participating on Ignition.
Community Fund Adjustments
Our Community Fund will now be exclusively funded through the 2% transaction tax on staking and unstaking. This will allow us to enhance our funding model while maintaining our focus on supporting early-stage project investments.
Governance and Engagement Enhancements
With our new enhanced economic model, stakers will be rewarded directly with more significant returns through airdrops, which aligns with our commitment to rewarding loyal community members at scale. Moreover, stakers with over 75k tokens will also retain their Early Pool benefits, reinforcing the value of higher-tier staking and their critical role in our community.
By taking this proactive approach based on assessing market fundamentals, we will secure a resilient future for all members of our community and the projects we support, empowering us to navigate challenges and seize opportunities as they arise.
At PAID, we are committed to transparency and open communication and believe these changes will further our mission to deliver exceptional value and growth through our innovative Web3 platform. We look forward to your continued partnership and support as we advance towards a more inclusive and sustainable economic future.
Thank you for your commitment to our platform. Let’s continue to innovate and lead in the Web3 space together.
If you have any questions, please do not hesitate to reach out through our community channels or Telegram.
About PAID Network and Ignition
Ignition is PAID Network’s IDO Launchpad, where our mission is to connect highly vetted founders with brilliant ideas for curated projects and offerings with crowd-sourced funding and best-in-class incubation tools and advisors to bring the vision of founders and creators to fruition for the benefit of all.
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