You Spoke and We Listened
This year has been off to an incredible start with the market in full bull mode, and wow it’s been exciting being along for the ride. The PAID team has been working long and hard since Q3 of last year and that didn’t change one bit as we came into 2021 and prepared our launch, but the dedication is clear and the team has been crushing it.
No matter how hard the team works and how hectic things get, we are always listening to you, our valued community members; so please always revert back to this blog to stay up to date on our lottery rules as we announce new IDOs to launch on Ignition and take your feedback into consideration.
Ignition whitelist lottery tiers
- Moon: Any wallet with at least 1,000 $PAID tokens will receive one lottery entry for every 1,000 $PAID tokens.
- GALAXY: A wallet with 75,000+ $PAID tokens is guaranteed one public allocation in addition to the one lottery entry for every 1,000 $PAID held, for additional chances to win!
- COSMOS: A wallet with 150,000+ $PAID tokens is guaranteed two public allocations and one pre-sale allocation (when private allocations are available), in addition to the one lottery ticket for every 1,000 $PAID held (just like the GALAXY tier)
This means that a wallet with 10,962 $PAID tokens would receive ten lottery tickets; if all ended up being winners, the wallet holder would be able to purchase ten lots of the token allocation.
Furthermore; there is no limit to the amount of lottery tickets received per 1,000 $PAID tokens. Meaning for example, a wallet holding 500,000 $PAID tokens that has been entered into the lottery would receive 500 lottery tickets.
Each lottery ticket will be entered into a lottery where winners will be randomly selected and we will soon be integrating Chainlink’s VRF random selection technology to make our selection process entirely transparent, and it should be noted we will continuously and always be working to improve our lottery winner-selection algorithm to make sure it is as fair as possible. We want everyone to win as often as possible!
Vested $PAID tokens rules
Only liquid $PAID tokens are eligible for the lottery. Tokens which are still locked under all seed and private rounds will not add to the total number of tokens held for the current lottery. All $PAID tokens submitted for count under the whitelist must be held from the close of whitelist until the actual IDO.
Update for $PAID HODLers on other platforms
Ignition’s development team is working with Launchpool and UniFarm to allow all $PAID tokens staked on their platforms’ projects to count towards Ignition Whitelist lottery entries.
However at this time it is still not enabled. We will update PAID’s community as soon as we have a definitive green light!
For the time being, if you wish to participate in upcoming IDOs on Ignition, you need to unstake your tokens and have them in the MetaMask wallet you shared with us in your whitelist application for snapshot. We will verify this when we close each whitelist, as well as when you join your indicated pool on IDO launch day/s.
We understand there is an issue with restaking from the same wallet on Launchpool, so if you choose to move and restake between snapshot and each pool’s opening (and therefore wish to change your whitelisted address), you must do this a minimum of 24 hours before the pool opens by submitting a help ticket at help.paidnetwork.com using the “change wallet” category.
For any questions, please feel free to reach out to us on:
“Update 01.15.2021 — for further clarity we have removed the section that explains the token validity for the lottery for Uniswap liquidity providers. As of writing, PAID tokens used to provide liquidity are currently not counted towards the total number of tokens for a whitelist lottery.”