Ignition is PAID Network’s IDO Launchpad with a mission 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.
It is the $PAID community’s gateway to the best projects in the space. Ignition vets and selects top-tier cutting-edge projects to launch while supporting their growth along the way.
This article sets out to present a comprehensive exploration of PAID Network’s latest development: The Early- and the Open Pool.
Ignition V2, rooted in the principles of inclusivity and community-driven governance, paves the way for a more open, fair, and rewarding participation in decentralised crowdfunding. It brings significant changes to the $PAID token economy, introducing new utilities and a circular, deflationary mechanism. The IgnitionV2 Early and Open Pools mark a groundbreaking shift from the traditional constraints of IDO participation, inviting not just $PAID token holders or stakers but the wider public to partake in the excitement of decentralised crowdfunding.
As we delve into the details, we will discuss the fundamental changes within the $PAID Ignition ecosystem, including the innovative staking mechanisms, the inception of the $PAID Community Fund, and the deflationary token economy. Furthermore, we’ll explore the potential future expansions of both Early Pool and Open Pool.
From the unique participation mechanics to the empowering community-centric approach, we invite you to join us on this exciting journey through our new upgrades. Whether you are an existing $PAID token holder or a newcomer to the ecosystem, this article aims to illuminate the potential and opportunities that lie within this game-changing model.
Together, let’s explore the future of decentralised crowdfunding — a future that promises to be more inclusive, equitable, and rewarding than ever before.
The Evolution of $PAID Network
From its humble beginnings, $PAID Network has journeyed to become a powerhouse in the decentralised crowdfunding scene . A cornerstone of this achievement has been the development of Ignition, our premier launchpad. Ignition’s track record of successfully launching over 100 top-tier projects since 2021, amassing a staggering amount upwards of 35 million USD, stands as a testament to our commitment to excellence.
We have been meticulously attuned to our community, listening and responding to their challenges faced. It quickly became evident that issues such as limited access to token sales, high entry barriers, and missed opportunities were not isolated incidents but prevalent pain points within the community.
The answer? A solution that is more inclusive, more accessible, and delivers an equal opportunity to all.
In response to this, we’re introducing a game changing solution — the “Early Pool” and “Open Pool”. Far from a simple addition to the product suite, this innovative concept redefines your launch experience, addressing the critical issues that have hampered our community.
Our new pools are an embodiment of our unwavering dedication to community inclusivity, fair opportunity, and continual progression. By amalgamating the support of our community, the potential of tier 1 projects, and our robust infrastructure, Early Pool and Open Pool are set to revolutionise the whole space.
A New Era: The Early and Open Pools
A Detailed Look At Our New Pools: What They Are And Why They’re Game Changing
Ignition v2 signifies a profound shift in how community members and the wider public interact with our ecosystem and participate in crowdfunding opportunities. With its introduction, the most significant changes can be observed across three verticals: staking of $PAID tokens and rewards, participation mechanics, and $PAID token utilities.
STAKING AND STAKING REWARDS
In its previous form, staking rewards were as follows:
The staking and rewards structure has had a major revamp, moving towards a more sustainable yield model. The current static APR (Annual Percentage Rate) structure, which offers rewards based on the number of tokens staked and the available tokens to be emitted as rewards, has proven unsustainable.
The staking mechanism is now split into two primary aspects: removal of staking for rewards and the introduction of staking for Community Fund participation. Current stakers have been granted the opportunity to un-stake without facing any penalties in doing so.
The new mechanism of staking for Community Fund participation, central to Ignition V2, Early Pool and Open Pool, is revolutionary. Under this framework, a portion of the participation fee collected from both the Early and Open Pools is earmarked for projects governed by a Community Fund. Profits realised are then used to buy back $PAID for burning and to reward $PAID token stakers.
How Ignition v2 Addresses the Issues Faced by Our Community in the Traditional Fundraising Model
Early Pool and Open Pool works to significantly alleviate the issues our community encountered in the conventional IDO model. First, it removes the barrier to entry issue by scrapping the Moon Pool (the lottery-based allocation system) in favour of a more accessible Open Pool. This new pool opens up $PAID Ignition project launches to the wider public, irrespective of whether they are $PAID token holders or stakers.
In the new structure, participation in $PAID Ignition project launches via the Early and Open Pool incurs a 10% participation fee (15% for private sales) levied on the token purchase amount. These fees not only contribute to a circular token economy but also introduce deflationary economics to the token. Revenue from the participation fees is channelled into purchasing $PAID tokens to be burnt, bolstering the $PAID Community Fund and $PAID liquidity provisioning.
The Open Pool also ensures equitable distribution and wider public participation in crowdfunding opportunities. If the Early Pool (for larger $PAID token stakers) doesn’t sell out, the remaining allocations roll over to the Open Pool, allowing for greater public participation.
Moreover, the Early Pool stakers still enjoy their privileges, such as the ability to lock in their allocations earlier than Open Pool participants. This ensures that large and valuable token stakers continue to find value in their participation, creating a balanced ecosystem that caters to all participants’ needs.
Lastly, the soon to be released $PAID Community Fund enhances transparency and gives our community the confidence that their contributions are being handled judiciously.
The Early and Open Pool drastically redefine the launchpad landscape, creating a more sustainable, democratic, and transparent ecosystem that benefits all stakeholders. This innovative approach not only disrupts the status quo but also sets the precedent for future crowdfunding models, propelling our ecosystem toward becoming a Kickstarter for Web 3
Ignition v2 and The New $PAID Token Utilities
The introduction of the new pools and the revamp of Ignition bring forth a host of new utilities for our stakers. These new utilities are set to significantly impact the role and value of the $PAID token within the ecosystem.
Redesigned Rewards: With the deprecation of the staking for rewards model, the primary value proposition of $PAID tokens now lies in its ability to passively gain access to opportunities previously unattainable. $PAID token stakers can now stake their tokens not just to earn rewards, but to gain a stake in the growth of the Community Fund. This aligns the interests of token stakers with the performance of the projects we launch and the overall ecosystem, fostering a more robust and sustainable token economy.
Participation Simplified: While Open Pool enables public participation in launches regardless of $PAID token ownership, $PAID token stakers gain significant advantages. By staking a minimum of 75,000 $PAID tokens, token stakers become eligible for the Early Pool, which grants them priority access and allows them to lock their allocations in earlier than Open Pool participants.
Governance: In line with the Community fund structure, $PAID token stakers are granted voting power proportional to their token holdings, allowing them to influence decision making. This fosters a community-driven ecosystem where our community of stakers can shape the direction of the fund and participate in decisions that directly impact their growth.
Explanation of the Circular, Deflationary Token Economy its Benefits
The new $PAID token economy introduces a deflationary mechanism that benefits both $PAID token stakers and participants in the Early and Open Pools.
Deflationary Mechanism: A portion of the participation fee collected is used to buy back $PAID tokens from the open market. These purchased tokens are subsequently burnt, decreasing the circulating supply of $PAID tokens over time. This deflationary pressure helps to increase their scarcity.
Circular Economy: The remainder of the participation fee collected from the Open Pool IDO is funnelled into the $PAID Community Fund. The Fund can then participate in fundraising and other discretionary opportunities. Revenues are then channelled back to $PAID token stakers as rewards, creating a self-sustaining, circular economy.
Benefits to Crowdfunding Participants: While participants do pay a fee, this structure provides several benefits. Firstly, it allows participants to gain access to promising projects without the need for $PAID token ownership, broadening the accessibility of the platform. Secondly, as the fees collected feed into a circular economy that benefits the overall ecosystem, participants indirectly contribute to, and benefit from, the long-term growth and sustainability of our ecosystem.
But what does this mean for you?
Open Access: Participation in $PAID Ignition launches will no longer be exclusive to $PAID token holders and stakers. Everyone gets a seat at the table, embodying our vision of a truly open and inclusive ecosystem.
The Open Pool is on a first-come-first served basis, there will be no limit to the number of tokens a user can buy.
KYC requirements: The KYC procedure is only mandatory when buying over $1000 worth of tokens. The KYC procedure must been completed25 hours before participation in Early and Open Pool fundraises.
Participation Fees: Engaging in both the Early and Open Pools comes with a fee. 10% for regular sales and 15% for private ones. While this might raise eyebrows, understand that this fee is the lifeblood of a circular token economy, ensuring sustainability and growth.
The Early Pool: For our loyal Galaxy Pool members, while the Open Pool introduces a new avenue, your allegiance to the $PAID ecosystem remains invaluable which is why we have created the ‘Early Pool’ for users who have at least 75,000 tokens staked. This pool will open 24H before the Open Pool and provide priority access. The participation fee for Early pool is 10% applicable only to your desired allocation amount.
Welcome to the $PAID Vesting Portal
Experience simplicity and control over your digital asset investments with the all-new $PAID Vesting Portal. Our revamped platform offers a seamless interface for you to track and manage your participation in various project pools you’ve successfully joined and funded. Here’s what you can expect:
Effortless Tracking: Easily view all your pool participations in one place. Our intuitive dashboard shows you the status of each project, from completed to those in progress.
Transparent Vesting Schedules: Stay informed with clear vesting details, including Token Generation Event (TGE) percentages, cliff periods, and linear vesting timelines. No surprises, just complete clarity.
Real-Time Overview: Instantly view your allocation amounts, the tokens you’re due to receive, and the launch prices. Watch your crypto work for you, with all the figures at your fingertips.
One-Click Claims: When it’s time to claim your tokens, do it directly from the portal with a simple click. It’s streamlined, straightforward, and secure.
Full Control Over Your Wallet: The portal connects directly to your primary wallet, ensuring that all transactions are as transparent as they are traceable. Rest assured, security is our top priority.
Tailored to Your Preferences: Use our filter tags and sorting options to navigate through your allocations, making your experience as customised as it is user-friendly.
The $PAID Vesting Portal is your gateway to the future of crypto allocations, delivering control, transparency, and ease like never before. Dive in and embrace a new era in crowdfunding.
Looking Forward: The Future of $PAID & Ignition V2
There are several potential directions and innovations that could significantly expand and improve Ignition v2. One of these expansions revolves around the $PAID Community Fund.
The $PAID Community Fund will be able to automatically allocate into the same projects offered to the wider community through IDOs. This mechanism will allow $PAID stakers to enjoy not just the benefits of participating in IDOs, but also the rewards derived from the allocations made through the Community Fund.
In the future, the Community Fund may also allocate capital into projects that were not launched on Ignition. This could provide our stakeholders with a broader variety of opportunities, reducing systemic risk.
These future allocations will be governed through a DAO structure, whereby deals are brought in and decided on by the DAO. To prevent concentration of voting power to any one party, the quadratic voting system discussed in previous sections can be employed. This ensures a fair and equitable governance model, bolstering the strength of the $PAID community.
Token holders that have their tokens staked will also be eligible for token airdrops from some of our Partner Projects launching on Ignition. Participating projects will allocate a percentage of supply for this and anyone who has $PAID staked on ignition will get an airdrop proportional to their stake.
Our new pools present new participation mechanics on Ignition. This approach allows the wider public, not just stakers of $PAID, to participate in decentralised crowdfunding, creating a truly open and inclusive platform.
Key changes include a new staking mechanism, a new rewards system, and the introduction of tangible, user-centric utilities for our token. A circular, deflationary token economy has been established, by leveraging buybacks and token burns. Further, a unique feature of the $PAID token utility is the integration of The $PAID Community Fund, which brings about a passive reward system for $PAID stakers.
We wholeheartedly encourage readers to dive into our new pools and participate in this new era in decentralised crowdfunding. Your involvement is instrumental to our ecosystem.
Please stay tuned for more announcements, we have a whole host of updates prepared for you so make sure you don’t miss any of them.
Let’s create this new era of crowdfunding together, capitalising on the significant potential our new pools offer to everyone. The future is here, and it’s more inclusive and rewarding than ever before.
For more info, please read our Gitbook: https://paidnetwork.gitbook.io/paid-network/
Disclaimer: Mention of any specific projects do not constitute any endorsement or recommendation. Any tokens and strategies are not financial advice. Readers should conduct their own due diligence.
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.
Questions? Connect with Us